WTI Breaks Below $67 Despite Iranian Oil Coming Off Global Market -- October 30, 2018; Miexco Makes History: Takes First Shipment Of Bakken Oil

Apple, Inc: to announce hardware updates this morning; 10:00 a.m. ET/9:00 a.m. CT -- from NYC

Earthquakes: British update later this morning; should be fun

Eagle Ford: link to EIA's dashboard will be added to the blog's featured links.

E15: I'm impressed voters are watching so closely.

COP: SeekingAlpha and COP shares.

Putin - MbS alliance, from twitter:

Mexico cancels new airport: wow. This is what the populist mandate killed:

• one of the world's biggest, most modern airports in the world
• ability to handle 100 million passengers / year
• lots of dollar figures; a bit confusing; data below may be incorrect; see linked article
• contracts awarded so far; now null and void: $7.7 billion; work on new airport is 30% complete
• alternative plan: to add two runways to current airport;
• current airport is 20 percent completed; required $14 billion; about $3 billion has been invested so far
• independent analysts suggest the decision will cost $6 billion 
• new Mexican president says the country will save $50 billion
• one word: Venezuela 
• a decision to kill a bullet train, I would understand; a decision to kill this project seems beyond the pale; suggests to me that Mexico's finances are in a world of hurt -- especially in light of Mexico now importing Bakken oil

**********************************

Back to the Bakken

Wells coming off confidential list today -- Tuesday, October 30, 2018:

• 34510, SI/NC, MRO, Monteau USA 34-7H, Van Hook, no production data;
• 34346, 401, Nine Point Energy, Sigma Lee 155-103-14-23-6H, Squires, 50 stages; 10 million lbs, t5/18; cum 43K 8/18; :
• 34321, 420, Nine Point Energy, Sigma Lee 155-103-14-23-7H, Squires, 51 stages; 10 million lbs, t5/18; cum 52K 8/18; 
• 34227, 1,269, Kraken Operating, Redfield-Colfax LE 24-13 1TFH, Lone Tree Lake, Three Forks, 60 stages; 15million lbs, t5/18; cum 78K 8/18;
• 34186, 1,131, Kraken Operating, Redfield East 24-13 2TFH, Lone Tree Lake, Three Forks, 60 stages; 15.3 million lbs, t5/18; cum 67K 8/18;
• 34185, 1,371, Kraken Operating, Redfield East 24-13 3H, Lone Tree Lake, 60 stages; 15.4 million lbs, t5/18; cum 88K 8/18;
• 34184, 1,130, Kraken Operating, Redfield East 24-13 4TFH, Lone Tree Lake, Three Forks, 60 stages; 15.4 million lbs, t5/18; cum 77K 8/18;
• 34183, 1,403, Kraken Operating Redfield East 24-13 5H, Oliver, 60 stages; 15.4 million lbs, t5/18; cum 97K 8/18;
• 34182, 1,663, Kraken Operating, Colfax 19-18 4H, Oliver, 60 stages; 15.4 million lbs, t5/18; cum 87K 8/18;
• 34181, 1,150, Kraken Operating, Colfax 19-18 5TFH, Oliver, Three Forks, 60 stages; 15.3 million lbs, t5/18; cum 78K 8/18;

The comments below are from geologists' reports at Terra Guidance. These are some of the best, if not the best, reports I have seen coming in from the Bakken. Others have great reports, but the reports seem to keep getting better. A great "public library" of information is building with regard to the Bakken. It will soon rival the fabled library at Alexandria, Egypt.

Comments regarding these seven Kraken wells, from #34181:

• a seven-well pad
• Three Forks target was 21' thick, with the top of the target window 11' below the top of the Three Fork and the bottom of the window set 21' below the top of the Three Forks
• total lateral length of 9,909'
• above target: 2.17% (215')
• in target: 60.2% (5,962')
• below target: 37.7% (3,732')
• gas units: one gas unit equals 100 ppm
• gas detection system measures: C1, C2, C3, IC4, NC4, H2S, CO2
• gas sensors: from 0 to 10,000 gas units
• trip gas maxed at 9,911 units
• spud date: November 12, 2017
• landing point: November 18, 2017; intermediate casing point, November 19, 2017
• total depth reached: November 24, 2017

Comments regarding these seven Kraken wells, from #34185:

• a seven-well pad
• middle Bakken target was 44' thick, with the top of the target window 15' below the top of the middle Bakken and the bottom of the window set 25' below the top of the middle Bakken
• total lateral length of 10,200'
• above target: 10.43% (1,064')
• in target: 81.65% (8,328')
• below target: 7.92% (808')
• gas units: one gas unit equals 100 ppm
• gas detection system measures: C1, C2, C3, IC4, NC4, H2S, CO2
• gas sensors: from 0 to 10,000 gas units
• max daily gas: 4,006 units
• spud date: December 15, 2017
• landing point: January 12, 2018; intermediate casing point, January 13, 2018
• total depth reached: January 16, 2018

Note: in a long note like this, there will be factual and typographical errors. If this information is important for you, go to the source.

Active rigs:

$66.58↓↓	10/30/2018	10/30/2017	10/30/2016	10/30/2015	10/30/2014
Active Rigs	67	52	34	70	190

RBN Energy: oil flows across the Gulf of Mexico no longer a one-way street. Archived.

Phillips 66 loaded its first Panamax tanker for export to Mexico over the weekend. Late on Sunday night, the SCF Prime signaled that it was headed for Pajaritos, Mexico, after loading at Phillips' terminal in Beaumont, TX.  Mexico is making history with this pivotal first purchase of Bakken crude from Phillips 66 at the U.S. Gulf Coast (USGC). Up until now, the crude oil trade between the U.S. and Mexico had been a one-way street, with oil moving from Mexico to the U.S. and not the other way around. But now, as Mexico’s state-run oil company Petróleos Mexicanos (Pemex) faces dwindling oil production and refinery outputs, importing light, sweet crude from the U.S. is a new avenue to revive Mexico’s refinery utilization. Today, we examine the new shift in the traditional flows of crude oil across the Gulf of Mexico.