Sunday, March 17, 2019

Saturday, March 17, 2019, T+74

The parade continues:
Seventy-six trombones led the big parade
With a hundred and ten cornets close at hand ...
Joe Biden announces that he's in.

The three "B's" become the three "S's."

Sociopath.
Socialist.
Stassen.

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The 2020 Campaign Is Off And Running

Before I get started, does anyone really think there will be:
  • a President O'Rourke?
  • a President Kamala Harris?
  • a President Bernie Sanders?
  • a President Elizabeth Warren?
I just don't see it. But I could be wrong.

It takes time to put together a campaign in 50 states and to qualify to get one's name on the ballot in each of the 50 states. How far along is Howard Schultz?

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Just In Time For The 2020 Campaign

Bloomberg says the worst may be over for the global economy. Wow, if that's accurate it's going to be a great year (2019) for investors. And, of course, if it's a great year (2019) that will extend the longest bull market, making it the longest bull market on record. It seems the dates vary, but if we remain in a bull market through August, 2019, I think all will agree that a new bull market record has been set for longevity.


From the linked article:
The world economy may be the rockiest it’s been since the financial crisis, yet there are reasons to expect the current slowdown will prove short-lived.
Bloomberg Economics, Deutsche Bank AG and Morgan Stanley are among those whose economists reckon the slide will bottom out in this quarter or next before an acceleration later in the year.
“Put the Federal Reserve pause, trade truce, and China stimulus together and we’re looking for a trough in the first quarter and very moderate pick up ahead,” said Tom Orlik, chief economist at Bloomberg Economics.
Wow, if this is the "rockiest" since the financial crisis, we're in pretty good shape.  And it seems like:
  • it revolves completely around easy money, the Fed, and Jerome Powell; and,
  • very little about Brexit is even mentioned
Oh, yes, and China.
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Energy Investors

Barron's featured a round-table on energy investing this past week. It's behind a paywall but some observations:
  • the fossil fuel sector is among the smallest sectors in the US equity market
  • we may be coming out of the worse of the fossil fuel sector
  • the article focused mostly on "Big Oil" -- bullish on most "majors"
  • quite a bit of talk on midstream: five mentioned, including ETP, EDP All-American Plains; interestingly, Enbridge was not listed;
  • one analyst suggested shorting (or not investing) in fracking sand companies: "they are drilling dirt" and margins are incredibly small; tea leaves elsewhere: more than enough sand everywhere
  • Helmerich and Payne recommended by one
  • of the service companies, SLB held advantage over HAL due to the former's international exposure
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here.

By the way, regarding "sectors" in the equity market, it is said there are 255 sectors in the US; the #1 sector (money invested) is the "chip" sector; and XLNX is rated #1 by Zacks.

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The Art Page

Berthe Morisot, Dallas Museum of Art, special exhibit, January - May, 2019.

Closer Look At Some Of The Wells Coming Off The Confidential List This Next Week -- March 17, 2019

Of the wells coming off the confidential list this next week, the wells that particularly interest me and additional comments:
  • without question, CLR continues to drill "full speed ahead, damn the torpedoes"
  • CLR will impress with the Weydahl wells
  • Kraken Operating will report some nice wells
  • of all things, Kraken Operating has a well in Brooklyn oil field; I thought this field was "owned" by CLR (see graphic below)
    • 34798, conf, Kraken, The Kraken LE 24-13 1TFH, Brooklyn,
  • EOG is getting back into the Bakken; look at the "chronology": #425 (see graphic below)
  • I think I once said we will know we have moved into Bakken 3.0 when EOG returns; but the official Bakken 3.0 will commence with the next USGS survey of the Bakken
  • Bakken 3.0:
    • begins with the next USGS survey of the Bakken
    • EOG returns to the Bakken
    • we start to see re-fracks by EOG, although that might be Bakken 3.5; we'll see
  • most exiting well to watch: #31499, Petro-Hunt, Charlson oil field, USA 153-95-1B-7-6H (see graphic below)
  • look at these 50K wells (or close enough to 50K "to count"):
    • 32812, conf, CLR, State Weydahl 8-36H1, Corral Creek, 
    • 32813, conf, CLR, State Weydahl 9-36H, Corral Creek, 
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The Graphics

Reminder: clicking on the graphics will enlarge the graphic; to get back to the post, click on the "X" in the upper right hand corner (this may vary depending on the browser being used).

First, that Kraken well in the Brooklyn oil field:
  • 34798, conf, Kraken, The Kraken LE 24-13 1TFH, Brooklyn,
Oh, that explains it. It's really an "Epping" oil field well, not a Brooklyn well, but it's on the section line:


 I'm curious how far east the two EOG Austin wells are. They are pretty far east:


What about that Petro-Hunt Charlson well? This new well coming off the confidential list this next week is located 0.62 miles northeast of perhaps the best Bakken well ever drilled, #16059. See this post for more information.




Early Production Data For Selected Wells Coming Off Confidential List This Next Week -- March 17, 2019

Early production data for selected wells coming off the confidential list this next week. The full list of wells coming off the confidential list is posted here.

34794, conf, Kraken Operating, The Kraken 24-13 7TFH, Epping,

DateOil RunsMCF Sold
1-20191624416888
12-20182746220996
11-20182900714375
10-201869641323

34793, conf, Kraken Operating, The Kraken 24-13 6H, Epping,

DateOil RunsMCF Sold
1-20192178321586
12-20183334324899
11-20183527316645
10-201869141077

34524, conf, EOG, Austin 426-1721H, Parshall,

DateOil RunsMCF Sold
1-2019143272550
12-2018172551086
11-201818968616
10-2018195913168
9-20184346803

34523, conf, EOG, Austin 425-1721H, Parshall,

DateOil RunsMCF Sold
1-20191459710229
12-2018157149693
11-2018198685410
10-2018207256379
9-201841591057

33897, conf, Oasis, Berry 5493 44-7 14BX, Robinson Lake,

DateOil RunsMCF Sold
1-20191656710776
12-20183011038365
11-20182963127918
10-20183029546650
9-201835965329

28009, conf, NP Resources, Roosevelt 23-29-1PH, Roosevelt,

DateOil RunsMCF Sold
1-2019100984064
12-2018141165433
11-2018156785717
10-2018147224527
9-20184910

31800, conf, CLR, Mittlestadt 7-17H, Chimney Butte,

DateOil RunsMCF Sold
1-20192717522187
9-201835130

30364, conf, CLR, State Weydahl 7-36H2, Corral Creek,

DateOil RunsMCF Sold
1-20193850845306
9-20185950

34644, conf, CLR, Anderson 11X-4HSL, Crazy Man Creek,

DateOil RunsMCF Sold
1-20193548452789
12-20183396146382
11-20183988245834
10-20183218738215
9-20187270

34913, conf, Hunt, Halliday 146-93-11-2H-4, Wolf Bay,

DateOil RunsMCF Sold
1-2019195226045
12-201817171012

33895, conf, Oasis, Berry 5493 44-7 14BX, Robinson Lake,

DateOil RunsMCF Sold
1-20192544232527
12-20182033811124
11-20182303923961
10-20182821114494
9-201845653776

31798, conf, CLR, Mittlestadt 5-17H1, Chimney Butte,

DateOil RunsMCF Sold
1-20192586722038
9-201813440

33894, conf, Oasis, Berry 5493 44-7 14BX, Robison Lake,

DateOil RunsMCF Sold
1-20192112327371
12-20182272711358
11-20181827114783
10-20182579611439
9-201835893915

32812, conf, CLR, State Weydahl 8-36H1, Corral Creek,

DateOil RunsMCF Sold
1-20195066251600
12-20184906942585
9-201824710

34798, conf, Kraken, The Kraken LE 24-13 1TFH, Brooklyn,

DateOil RunsMCF Sold
1-20192118821979
12-20182851023793
11-20183296917962
10-2018197532722

34797, conf, Kraken, The Kraken 24-13 10H, Epping,

DateOil RunsMCF Sold
1-20191785018250
12-20183128325171
11-20183320217196
10-2018266253169

34796, conf, Kraken, The Kraken 24-13 9TFH, Epping,

DateOil RunsMCF Sold
1-201992759952
12-20182519220612
11-20183175816989
10-2018205892423

33658, conf, Oasis, Berquist 5298 11-27 5B, Banks,

DateOil RunsMCF Sold
1-20193675971470
12-20182935055625
11-20182846613083
10-2018259512080
9-201810877121

32813, conf, CLR, State Weydahl 9-36H, Corral Creek:

DateOil RunsMCF Sold
1-20194265827600
12-20184931833719
9-201820310

31802, conf, CLR, Jensen 6-8H, Chimney Butte:

DateOil RunsMCF Sold
1-20193646322343
12-20183961118027
9-201811630

25 Wells Coming Off The Confidential List This Next Week -- March 17, 2019

Monday, March 25, 2019: 105 wells for the month; 325 wells for the quarter
34794, conf, Kraken Operating, The Kraken 24-13 7TFH
34793, conf, Kraken Operating, The Kraken 24-13 6H, 
34524, conf, EOG, Austin 426-1721H, 
34523, conf, EOG, Austin 425-1721H, 
33897, conf, Oasis, Berry 5493 44-7 14BX, 
28009, conf, NP Resources, Roosevelt 23-29-1PH

Sunday, March 24, 2019: 99 wells for the month; 319 wells for the quarter
31800, conf, CLR, Mittlestadt 7-17H, 
30364, conf, CLR, State Weydahl 7-36H2

Saturday, March 23, 2019: 97 wells for the month; 317 wells for the quarter
34644, conf, CLR, Anderson 11X-4HSL,
24978, conf, CLR, Syverson 3-12H1,

Friday, March 22, 2019: 95 wells for the month; 315 wells for the quarter
34913, conf, Hunt, Halliday 146-93-11-2H-4, 
33895, conf, Oasis, Berry 5493 44-7 14BX, 
31798, conf, CLR, Mittlestadt 5-17H1,
24977, conf, CLR, Syverson 2-12H,

Thursday, March 21, 2019: 91 wells for the month; 311 wells for the quarter
33894, conf, Oasis, Berry 5493 44-7 14BX, 

Wednesday, March 20, 2019: 90 wells for the month; 310 wells for the quarter
32812, conf, CLR, State Weydahl 8-36H1,
31499, conf, Petro-Hunt, USA 153-95-1B-7-6H, 

Tuesday, March 19, 2019: 88 wells for the month; 308 wells for the quarter
35013, conf, WPX, Spotted Horn 26-35HW, 
35012, conf, WPX, Spotted Horn 26-35HA, 
34798, conf, Kraken, The Kraken LE 24-13 1TFH,
34797, conf, Kraken, The Kraken 24-13 10H, 
34796, conf, Kraken, The Kraken 24-13 9TFH
33658, conf, Oasis, Berquist 5298 11-27 5B, 
32896, conf, CLR, Colter 13-14H1
32813, conf, CLR, State Weydahl 9-36H,
31802, conf, CLR, Jensen 6-8H,

Monday, March, 18, 2019: 79 wells for the month; 299 wells for the quarter
35240, conf, WPX, Spotted Horn 26-35HUL, 
34625, conf, CLR, Anderson 7X-4H, 
33857, conf, Oasis, Berry 5493 42-7 8T
33856, conf, Oasis, Berry 5493 42-7 9B, 
23942, conf, XTO, FBIR Yellowwolf 21X-10E, 

Sunday, March, 17, 2019: 74 wells for the month; 294 wells for the quarter
35011, conf, WPX, Spotted Horn 27-34HD, 
34643, conf, CLR, Anderson 10X-4HSL1,
34253, conf, BR, Raider 4A MBH, 
33889, conf, Oasis, Berquist 5298 13-27 9B, 
32814, conf, CLR, Brandvik 8-25H1
23938, conf, XTO, FBIR Yellowwolf 21X-10A, 

Saturday, March, 16, 2019: 68 wells for the month; 288 wells for the quarter
34252, conf, BR, Raider 3C  UTFH
32408, conf, Slawson, Slasher Federal 1 SLH,
32786, conf, BTA Oil Producers, 20901 Elkhorn 433 1H,
32934, conf, BR, Renegade 44-10MBH, 
32933, conf, BR, Chuckwagon 41-15MBH, 
31803, conf, CLR, Jensen 7-8H,