Week 45: November 3, 2019 -- November 9, 2019

Top international non-energy story:

• Completely under-reported: UN unable to make payroll
• Just how serious is it in Saudi Arabia?

Top international energy story:

• Saudi Aramco's IPO released; panned; sells less than 0.5% of the company
• Saudi Arabia delays payment on Sabic deal by four years;
• Brazil's off-shore auction a total disaster;
• First trade surplus in petroleum for the US in more than 40 years;
• Canadian oil prices tumble due to Keystone (not the XL) pipeline shutdown
• Iran announces huge 53-billion-bbl crude oil discovery (technically a top story for next week)

Top national non-energy story:

• The economy; all major indices hit new all-time records; fear of heights;
• AAPL hits an all-time high;

Top national energy story:

• MRO: breaks the $5 million floor for completed well costs
• The Permian is flaring as much natural gas as the entire state of New Mexico consumes
• US natural gas storage goes over 5-year average for first time in quite awhile
• US crude oil re-balancing: back to where we were one year ago;
• Another unexpected build in the US crude oil in storage
• West Coast refinery throughput dropping;

Top North Dakota non-energy story:

• North Dakota: hardest working state in the US -- WalletHub;
• US agriculture secretary designates disaster in North Dakota;  

Top North Dakota energy story:

• Propane shortage for farmers;

Geoff Simon's top North Dakota energy stories:

• Security to be tight at Wednesday's -- November 13 -- DAPL hearing in Linton, ND 
• ND Supreme Court heard challenge to new ND refinery
• current ND Supreme Court Chief Justice says he will step down at the end of year; will remain on the bench, but not as Chief Justice; elected chief justice five times since 1993; 26 years; Gerald VandeWalle, 86
• prior to Justice VandeWalle, Chief Justice Ralph Erickstad for "two decades"

Operations:

• Random look at production data for wells that were drilled 4Q15, the review continues;
• Wells drilled back in 2010 that have produced in excess of 500,000 bbls of oil;
• EOG: increases drilling locations;
• XTO: existing wells to be used as EOR pilot study
• Number of rigs in North Dakota drops to another recent low: 53
• The XTO Johnsrud Federal wells in Bear Den
• Whiting's P Vance wells appear to be coming back on line
• Something going on in Haystack Butte? 

Fracking:

• CLR reports an 81-stage frack;
• Second frack for a Bruin Antelope-Sanish well;

Advantaged oil:

• The MRO Kent Carlson wells; and, here;
• A BR Kirkland well in Pershing oil field;

DUCs:

• Five incredible MRO DUCs;

Increased density projects:

• CLR's Angus Federal / Simmental Federal wells;

Commentary:

• Breakeven points; and, here;
• Just how serious is it in Saudi Arabia?

Miscellaneous:

• Investor's Business Daily reports IRS increases caps on IRAs for 2020 -- inaccurate;
• Cost to de-commission a single wind turbine -- $532,000