Sunday, January 14, 2018

Wells Coming Off The Confidential List This Next Week (No Report Monday -- MLK Holiday) -- January 14, 2018

Monday, January 22, 2018: 39 wells for the quarter; 39 wells for the year
33723, conf, Newfield, Anderson Federal 152-96-9-4-20H, Westberg, producing; 12K first month;
33679, conf, Zavanna, Hanson 28-33 4TFH, Stockyard Creek, no production data;

Sunday, January 21, 2018: 37 wells for the quarter; 37 wells for the year

Saturday, January 20, 2018: 37 wells for the quarter; 37 wells for the year
33601, conf, Hess, AN-Lone Tree-152-95-1207H-3, Antelope, no production data;
32350, conf, CLR, Hereford Federal 7-20H, Elm Tree, producing; not particularly remarkable for a CLR Elm Tree well; one wonders if it was a failed frack;
23035, conf, Statoil, Jennifer 26-35 2TFH, East Fork, no production data;

Friday, January 19, 2018: 34 wells for the quarter; 34 wells for the year
33602, 1,793, Hess, AN-Lone Tree-152-95-1207H-2, Antelope, Sanish pool, Three Forks, 60 stages, 2.8 million lbs; t12/17; cum --
32770, 1,411, Oasis, Oyloe 5199 42-23 4B, North Tobacco Garden, 50 stages; 10 million lbs; t7/17; cum 116K 11/17;
31993, 576, Whiting, Liffrig 11-27-2H, Sanish, 44 stages; 10.2 million lbs large/small, t9/17; cum 65K 11/17;
Thursday, January 18, 2018: 31 wells for the quarter; 31 wells for the year
32771, 1,138, Oasis, Oyloe 5199 42-23 5T, North Tobacco Garden, Three Forks B1;. 26 stages; 1.94 million lbs; t8/17; cum 78K 11/17;
29931, 1,636, Hess, AN-Lone Tree-152-95-1207H-1, Antelope, Sanish pool, 61 stages; 4.3 million lbs, t12/17; cum --
23036, SI/NC, Statoil, Allison 23-14 2TFH, East Fork, no production data;

Wednesday, January 17, 2018: 28 wells for the quarter; 28 wells for the year
32351, 1,136, CLR, Hereford Federal 5-20H, Elm Tree, 71 stages; 14.2 million lbs large, small, no ceramic; t8/17; cum 94K 11/17;

Tuesday, January 16, 2018: 27 wells for the quarter; 27 wells for the year
32772, 1,698, Oasis, Oyloe 5199 42-23 6B, North Tobacco Garden; t8/17; cum 153K 11/17;
30441, 1,090, Hess, BW-Hedstrom-LW-149-100-1201H-1, Ellsworth, t12/17; cum --

Monday, January 15, 2018: 25 wells for the quarter; 25 wells for the year

Sunday, January 14, 2018: 25 wells for the quarter; 25 wells for the year
33519, 991, Hess, BW-Hedstrom-149-100-1201H-5, Ellsworth, 45 stages; 8.1 million lbs, large/small, t12/17; cum --
33219, SI/NC, Kraken Operating, Feller 22-15 6H, Lone Tree Lake, no production data,
32447, 374, Whiting, Buckman 24-21PH, Bell, Three Forks, 45 stages, 9.4 million lbs, t7/17; cum 39K 11/17;

Saturday, January 13, 2018: 22 wells for the quarter; 22 wells for the year
33218, SI/NC, Kraken Operating, Feller 22-15 5H,  Lone Tree Lake, no production data,
32352, 1,136, CLR, Hereford Federal 3-20H,  Elm Tree, 71 stages, 14 million lbs, large/small, no ceramic, t8/17; cum 94K 11/17;
29905, SI/NC, Hess, BW-Hedstrom-149-100-1201H-4, Ellsworth, no production data,

Bank Of America Warrants -- January 14, 2018 -- Nothing About The Bakken

There was a story linked over at Yahoo!Finance this weekend: Bank of America warrant holders could reap 4,000 percent return. I didn't care much about the story one way or the other -- that's how warrants work. I was more intrigued by some of the comments, particularly comments made by individuals who apparently did not understand how warrants work and comments made by individuals who felt they were deprived of getting in on a good deal because they did not know about them.

In fact, the story was a huge headline story about six months ago, a different circumstance, perhaps, but certainly an opportunity for others to see if there were other warrant opportunities available. The story in June, 2017: Warren Buffett just made a quick $12 billion on a clever investment.
  • Warren Buffett's Berkshire Hathaway will exercise warrants in Bank of America allowing it to acquire 700 million common shares at an exercise price of $7.14 each, or about $5 billion
  • At Thursday's closing price, that stake is worth more than $17 billion
  • Berkshire will also become the bank's largest shareholder
Again, investing in America is an open-book test. 

Saudi Arabia's Sovereign Weath Fund May Be Considering Borrowing $5 Billion This Year; Meanwhile, Those Crazy Norwegians -- January 14, 2018

From multiple sources, being reprinted everywhere, this link from the Daily Star:
Saudi Arabia’s sovereign wealth fund, which aims to become a $2 trillion investment giant, is considering borrowing from banks for the first time as it seeks investments in the kingdom and abroad, according to people familiar with the matter. The Public Investment Fund, or PIF, has held talks with local and international banks and could raise about $5 billion this year, some of the people said, asking not to be identified because the information is private.
No final decisions on timing or size have been made and the PIF may instead turn to government financing. A spokesman for the PIF declined to comment.
The fund is willing to borrow as it seeks to diversify the kingdom’s oil-dependent economy and boost returns from investments, Managing Director Yasir al-Rumayyan said in a Bloomberg Television interview in October. Saudi Arabia is stepping up efforts to turn the PIF into a global giant by giving it ownership of state-owned oil company Saudi Aramco, which is preparing for what could be the world’s biggest initial public offering.
This may be the first time the PIF has talked about borrowing money, but I do believe that Saudi has done some borrowing in the past year or so.

Regardless, borrowing $5 billion over the course of a full year seems fairly trivial when talking about becoming a "$2 trillion investment giant." 

For The Archives: Those Crazy Norwegians

Ten industry world records. Link here.

The #1 record, "the concert under the sea" is on YouTube:

If you are bored by the beginning (which seems to be in German) skip ahead to 8:25.

This was sent to me by a reader and it's quite incredible if you haven't seen this before.

The underwater evacuation sequence is amazing: remember, these are professional singers, not professional scuba divers.

The concert begins at 29:29.

There's something to be said for bringing a Yamaha (baby) grand piano down a deep-sea drilling rig.

Those crazy Norwegians.

ICYMI: A Reader Provided Some Interesting Observations About The Mathistad Wells -- January 14, 208

One of the problems with the blog is that when I update an older post, some folks will not see the update. I try to keep the blog from becoming cluttered with a lot of short posts by updating older posts when new data is found.

Today, a reader provided some nice observations about the Mathistad wells which I updated just a few days ago. The Mathistad wells are an important part of the history of the Bakken boom, just as the Bice wells were. And many others.

Wow! NFL-Free Sunday

I was at a water polo tournament most of today but arrived home in time to see the last ten minutes of the Pittsburgh playoff game in Pittsburgh. Wow, the number of empty seats was incredible. There should be no empty seat in a home game, playoff game. 

Switzerland's Central Bank Makes Record Profit -- January 14, 2018

More evidence of a "synchronized global economy." LOL.

From The WSJ: Switzerland's central bank -- think, US Federal Reserve -- made $55 billion last  year (2017) -- more than Apple, and way way more than the US central bank. The Swiss bank expects record profit on higher global equity and bond prices and a weaker Swiss franc. Some data points regarding the Swiss bank:
  • $800 billion portfolio in foreign stocks and bonds
  • expects to report a record annual profit of $55 billion for 2017
  • $55 billion = 8% of the country's GDP
  • by comparison, if the Federal Reserve were to run a profit of similar scale relative to the U.S. economy, it would be about $1.5 trillion
  • the US Federal Reserve has earned an annual profit of around $100 billion in recent years
  • the profit is more than Apple Inc earns in a year
  • more than JPMorgan and Berkshire Hathaway Inc combined
  • the Swiss bank's largest holding: Apple; owns almost 20 million shares of Apple
  • but it has a problem: what to do with $750 billion