Week 33: August 11, 2019 -- August 17, 2019

Disclaimer: the usual disclaimer applies. Read at your own risk.

Top international non-energy story:

• "Global recession right around the corner"

Top international energy story:

• US gasoline demand surges to all-time high;
• Saudi Aramco IPO back on track (wink, wink)

Top national non-energy story:

• "Recession right around the corner" 
• Inverted bond yields signal massive, deep, never-ending recession
• 10-year Treasuries at record low yields but still positive (versus negative yields in the EU)

Top national energy story:

• US gasoline demand surges to all-time high; and, here;
• Massive Alaska LNG export terminal to be delayed; costs cited;
• Owners commit to Capline reversal
• Cactus II pipeline operational
• Break-even prices across major US plays 

Top North Dakota non-energy story:

• State ended fiscal year with more than half-billion-dollar balance

Top North Dakota energy story: 

• Records, records, and more records -- the Director's Cut, June, 2019, data
• Number of ND wells on inactive status near all-time high;
• Record production;
• Record production despite near record low number of active rigs;
• Record flaring; record NG production despite low rig count; despite near record number of wells on inactive status;
• Average daily well production near record high at 92 bbls/day
• Break-even costs down to $12/bbl in North Dakota

Geoff Simon's top ND stories:

• Oil and natural gas set records in June; gas flaring rises due to system outages
• NDIC involved in petrochemical plant "talk"
• Oilfield electric demand to jump 71%
• ND legislators to discuss how to spend Legacy Fund money
• State ended fiscal year with more than half-billion-dollar balance
• Former director of Wyoming's DOT named to lead ND's DOT
• Williston area schools still working very, very tough issues
• North Dakota on "short" list for petrochemical plant
• "Broken" oil market prompts CLR to buyback its own shares
• Williston airport on target to meet October opening; last lane paved
• Alexander schools show increase in student enrollment
• Williston STAR Fund allocates $72,000 for new beer processing plant
• Energy secretary: US shale boom saved economy from recession

Operations:

• Number of ND wells on inactive status near all-time high
• Seeking that optimum well spacing: RimRock at 14 wells/drilling unit and counting  in South Fork;
• Resonance to drill a wildcat well in Bottineau County
  More on the CLR LCU ; and, here; and, here; main post here;
• Gilfer wells southwest of Epping have been completed
• Equinor's Mark wells east of Williston have been completed
• Update of a North Range re-entry
• KODA drilling out west

Deals:

• Bonus: $16,000 / acre, Eagle Nest, Dunn County
• Northern Energy looking to buy all of Bowman County (it seems) -- quarterly lease sales

Natural gas:

• Time to start connecting dots;

Flaring:

• Commentary: the issue arises once again
• Record flaring; record NG production despite low rig count; despite near record number of wells on inactive status; 

Fracking:

• Re-fracks in the Helis Grail

Halo:

• Another "old" CLR well with huge jump in production;
• An MRO Buehner well production jumps 6-fold
  

Lodgepole:

• Update on the first middle Lodgpole unconventional test well in the Williston Basin

Bakken economy:

• North Dakota ranks #4: energy expenditures as a percent of GDP

Miscellaneous:

• EUR type curves: Bakken vs Permian