One Last Push Before Winter? Rigs Up To 60 In North Dakota -- October 15, 2019

Dithering: LOL. Brexit will be delayed at least another year.

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Slow News Day

DUCs: over at twitter --

You know it's a slow news day when analysts are debating this issue. 

I am not privy to the debate to which the good doctor refers. Having said that, the EIA reports that DUCs in US shale regions fell by 206 month-over-month to 7,740, according to a tweet. It would be nice to know the trend; a snapshot in time has no value whatsoever. At least not to me.

My two cents worth: it is virtually impossible to know exactly how many DUCs there are at any one time. Under the best of circumstances, it appears it takes about two weeks for what happens in the field to be reported to the public. With regard to quality of the DUCs, I don't have statistical data, but anecdotally, IPs for DUCs seem to be better than IPs of wells that are completed soon after they reach total depth. Certainly, DUCs are no "worse" than wells that are completed immediately.

I haven't found it yet, but I assume there's a discussion somewhere over at twitter asking how many angels can dance on the head of a pin.

For the record: I track the number of DUCs in the Bakken at this post.

It would be interesting to know who/when/where the acronym DUCs was coined. I think we had this discussion before. My hunch is that DUCs was an acronym coined by the NDIC. Just saying.

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Delayed: due to federal holiday Monday, it appears reporting of some weekly data will be delayed a day.

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Back to the Bakken 

Active rigs:

$52.81	10/15/2019	10/15/2018	10/15/2017	10/15/2016	10/15/2015
Active Rigs	60	68	59	31	66

Three new permits, #37090 - #37092, inclusive:

• Operator: Whiting
• Field: Sanish (Mountrail)
• Comments:
• Whiting has permits for a 3-well Ness pad in section 21-154-91, Sanish oil field

One completed well:

• 06900, multi-formation well; see belwo; New Horizon Resources, Harold Haugen 25-1, Divide County

Two permits canceled:

• Slawson: one Gunslinger Federal permit in McKenzie County
• Enerplu: one Walley permit in Dunn County

Four producing wells (DUCs) reported as completed:

• 35415, 560, Kraken, Dragseth 9-4 6TFH, Winner oil field, t10/19; cum --;
• 35416, 764, Kraken, Dragseth 9-4 5H, Winner oil field, t10/19; cum --;
• 35426, 592, Kraken, Knox 16-21 5H, Winner oil field, t9/19; cum --;
• 35427, 424, Kraken, Know 16-21 4TFH, Winner oil field, t09/19; cum --; 

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Harold Haugen Re-Entry Well

The well:

• 6900, New Horizon Resources, LLC, Harold Haugen 25-1, Daneville, first drilled in 1979 - 40 years ago; 

Scout ticket:

Sundry form to re-enter:

• approximate start date: August 15, 2019
• plug Red River
• enter/perforate: Stonewall/Gunton

New operator: January 19, 2018: change of operator from Earthstone Operating, LLC, to New Horizon Resources, LLC.

Recent monthly production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
RED RIVER	8-2019	17	40	176	928	0	0	0
RED RIVER	7-2019	31	92	219	1427	0	0	0
RED RIVER	6-2019	30	27	0	1202	0	0	0
RED RIVER	5-2019	30	143	214	1375	0	0	0
RED RIVER	4-2019	27	519	279	1507	0	0	0
RED RIVER	3-2019	30	129	0	2067	0	0	0
RED RIVER	2-2019	0	0	0	0	0	0	0
RED RIVER	1-2019	1	0	0	0	0	0	0
RED RIVER	12-2018	31	146	0	1067	0	0	0
RED RIVER	11-2018	0	0	0	0	0	0	0
RED RIVER	10-2018	17	113	224	746	0	0	0