The Million Dollar Way (The Bakken Oil Blog): 09/27/19

Friday, September 27, 2019

Global Warming To Smack Montana, Wyoming, Idaho, Washington State; Kennedy Klan Klapping; Daily Activity Report -- Bakken Summary -- September 27, 2019

Link here.

Now, back to the Bakken.

The daily activity report.

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Back to the Bakken

Active rigs:

$55.91	9/27/2019	09/27/2018	09/27/2017	09/27/2016	09/27/2015
Active Rigs	57	65	57	32	71

Two new permits, #37019 - #37020, inclusive:

Operator: Slawson
Field: Big Bend (Mountrail County)
Comments:

Slawson has permits for two Triton Federal wells in Big Bend oil field, section 8-34-35; one TFH well and one middle Bakken well

Seventeen permits renewed;

EOG (6): two Clearwater permits in Mountrail County; three Wayzetta permits in Mountrail County; and, a Hardscrabble permit in Williams County
Enerplus (3): a Spider permit, a Cobweb permit, and a Maratus permit, all in Dunn County
RimRock (2); two Two Shields Butte permits in Dunn County
Kraken (2): a Wilder permit and an Anna permit, both in Williams County
Whiting: a Mallow permit in McKenzie County
PetroShale: a PetroShale USA permit in McKenzie County
Liberty Resources: a Holmen E permit in Burke County
Oasis: a Barron permit in Burke County

Two producing wells (DUCs) reported as completed:

35476, 1,696, Hess, SC-JCB-LE-154-98-1721H-2, Truax, t8/19; cum 14K over 13 days;
34907, 1,942, Hess, SC-JCB-LE-154-98-1720H-1, Truax, t8/19; cum 15K over 10 days; extrapolates to 46K over 30 days;

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Pop Quiz

For a free one-year subscription to this blog, quick, what's a "maratus"? Two, maybe three, hints on this page.

Bonus question: no prize except bragging rights, quick, where might one find a "maratus"?

CLR's Ravin Wells In Dimmick Lake

Note: Early production data has been added. Scroll to the bottom of the post. These wells were initially DUCs. They were completed about seven months after reaching total depath.

Disclaimer: In a long note like this, there may be typographical and/or factual errors. If this is important to you go to the source. If alerted to errors, I will correct them.

CLR is clearly "on a roll." I can't wait to see their year-end report which we should see sometime in early 2020. One wonders if Harold Hamm has tweaked his business model.

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Original Post

These are incredible wells. They were brought to my attention by a reader.

Tonight's post begins with a note from a reader:

A few weeks ago the Ravin 2 #34873 came off of confidential with limited production reported. According to our monthly statement, here is what they did in August:

#34873 -- Ravin 2: 43,453 runs

#34874 -- Ravin 3: 42,482 runs

Okay, that's the lede.

It should be noted that Abraxas has "Ravin" wells in North Fork oil field. This post is about the CLR Ravin Federal wells in Dimmick Lake.

These well have been coming off the confidential list over the past few weeks, generally one at a time, and I've posted them when noted on the daily activity report, but I believe this is the first time I've "collected" them all in one place.

Based on their names, they include middle Bakken, first bench Three Forks, and second bench Three Forks wells -- I will sort that out later.

Again, for newbies: these are huge wells. I'll provide the frack/completion data later.

The graphic:

The wells:

34873, 2,641, CLR, Ravin Federal 2-1HSL, Dimmick Lake, t8/19; cum 44K over 25 days, extrapolates to 53K over 30 days; cum 239K 4/20; 46K month;
34874, 2,175, CLR, Ravin 3-1HSL1, Dimmick Lake, t7/19; cum 42K over 31 days; previous month, 12,442 bbls over 7 days; cum 132K 2/29; 42K month; off line 2/20; remains off line 4/20;
34172, 2,790, CLR, Ravin 4-1H, Dimmick Lake, t6/19; cum 260K 4/20; 52K first full 31-day month;
34173, 911, CLR, Ravin 5-1H2, t7/19; cum 97K 4/20;
34174, 1,753, CLR, Ravin 6-1H1, Dimmick Lake, t7/19; cum 56K over 51 days; cum 129K 4/20; 33K month;

34175, 1,286, CLR, Ravin 7-1H, Dimmick Lake, t8/19; cum 207K 4/20;
34176, 1,726, CLR, Ravin 8-1H2, Dimmick Lake, t8719; cum 168K 4/20; 35K month;
34177, 2,178, CLR, Ravin 9-1H, Dimmick Lake, t7/19; cum 83K over 59 days; cum 203K 4/20; 46K month;
34178, 1,932, CLR, Ravin 10-1H1, Dimmick Lake, t8/19; cum 59K over 44 days; cum 167K 4/20; 36K month;
34179, n/d, CLR, Ravin Federal 11-1H, Dimmick Lake, t--; cum 49K over 41 days; 196K 4/20; 37K month;
34180, 1,698, CLR, Ravin 12-1H2, Dimmick Lake, t7/19; cum 30K over 39 days; 118K 4/20;

18584, 380, CLR, Ravin 1-1H, Dimmick Lake, t7/10; cum 147K 4/20;

Early production numbers for the Ravin wells. Completion strategies are tracked at this post.

34873, middle Bakken, 62 stages; 17.6 million lbs sand;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	25	43952	43454	26313	78860	73656	5204
BAKKEN	7-2019	0	245	245	0	0	0	0

34874, Three Forks, 32 stages; 9.8 million lbs sand;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	42400	42482	49004	60122	49163	10959
BAKKEN	7-2019	7	12442	12058	11719	16133	7547	8586

34172, middle Bakken, 62 stages; 17.6 million lbs sand;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	36633	36675	20964	62010	57656	4354
BAKKEN	7-2019	31	52208	53300	35830	89426	74555	14871

34173, producing, but still conf;

34174, Three Forks first bench, 62 stages; 17.6 million lbs sand;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	33370	33261	70303	54756	50911	3845
BAKKEN	7-2019	20	21686	21563	44074	37392	31174	6218

34175, producing but still conf;

34176, Three Forks second bench, 62 stages 10.1 million lbs:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	35190	35111	46279	58226	54138	4088
BAKKEN	7-2019	24	29191	29025	35571	42615	35528	7087

34177, middle Bakken, 62 stages; 12.6 million lbs:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	30	37839	37829	30149	85491	79488	6003
BAKKEN	7-2019	29	44511	44258	38431	96194	80197	15997

34178, Three Forks first bench, 62 stages; 12.6 million lbs:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	27	36257	36135	36737	63627	59159	4468
BAKKEN	7-2019	17	22917	22787	25719	32755	27308	5447

34179, middle Bakken, 62 stages; 12.6 million lbs;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	37156	36964	40521	76235	70882	5353
BAKKEN	7-2019	10	11776	11709	16792	16989	14164	2825

34180, Three Forks, second bench, 62 stages; 10.1 million lbs;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	27	17269	17219	31152	28881	26853	2028
BAKKEN	7-2019	12	12295	12225	11555	15128	12612	2516

Everyone Is Getting Into The Bakken Spirit -- Even Abraxas Wells Show The Bakken Jump -- September 27, 2019

This post will not be updated. These wells are tracked elsewhere.

The well:

26885, 1,141, Abraxas, Ravin 26-35-4H, North Fork, t10/14; cum 338K 8/19;

Jump in production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	26	2003	2034	2913	9990	9641	89
BAKKEN	7-2019	31	2886	2957	2967	13876	11979	1587
BAKKEN	6-2019	28	2814	2758	3927	11423	11143	0
BAKKEN	5-2019	15	1580	1566	1443	4593	4443	0
BAKKEN	4-2019	30	4969	5195	4095	15553	15103	150
BAKKEN	3-2019	31	6692	6657	5200	17223	16913	0
BAKKEN	2-2019	28	9044	9169	6248	21161	20877	4
BAKKEN	1-2019	31	13473	13488	9450	28029	27719	0
BAKKEN	12-2018	31	14565	14381	10582	26609	25662	637
BAKKEN	11-2018	17	8406	8249	7623	14345	14175	0
BAKKEN	10-2018	0	0	0	0	0	0	0
BAKKEN	9-2018	0	0	0	0	0	0	0
BAKKEN	8-2018	27	2124	2340	1136	8489	8219	0
BAKKEN	7-2018	31	2709	2752	1308	10309	9999	0

Back From The Dead -- Once "AB" Now Back To Producing -- September 27, 2019

This page won't be updated.

Not perhaps the greatest well ever but at one time it was "AB."

Now it's back on active status.

16698, AB-->IA/369-->A, CLR, Oakdale 11-12H, 12-146-96, 2 sections; t12/07; cum 242K 7/19;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2019	31	976	1125	1259	1640	936	298
BAKKEN	6-2019	25	952	671	1268	1482	880	274
BAKKEN	5-2019	31	1334	1616	1701	1870	762	713
BAKKEN	4-2019	30	1366	1397	1644	1775	470	902
BAKKEN	3-2019	21	863	710	1012	1057	267	524
BAKKEN	2-2019	24	835	903	620	1524	1083	117
BAKKEN	1-2019	31	1276	1638	1045	2513	2063	34
BAKKEN	12-2018	31	1540	1435	1218	3346	2817	111
BAKKEN	11-2018	30	1614	1652	1245	2029	838	786
BAKKEN	10-2018	31	2192	2116	1480	2551	1171	961
BAKKEN	9-2018	30	2357	2151	1792	2923	1780	753
BAKKEN	8-2018	21	1477	1168	1385	1634	672	685
BAKKEN	7-2018	0	0	0	0	0	0	0
BAKKEN	6-2018	0	0	195	0	0	0	0
BAKKEN	5-2018	0	0	0	0	0	0	0

All Politics -- Nothing About The Bakken -- September 27, 2019

I normally don't do this, but these are so good, I can't pass them up.

Under the "Twitter" guidelines, I am amazed that CNM has not had its account suspended.

And, believe it or not, RSBN is back on twitter. Apparently it is not allowed to "live stream" but it's back up and running. My hunch, "Diamond and Silk" had a lot to do with getting RSBN back up and running on Twitter.

The First Thing That Flashed In Front Of My Eyes -- The "Black Snake" -- September 27, 2019

Had the "black snake" run under this road, the DAPL-operators would have have been blamed, and this would have been a national story. But as it is .... "stuff happens."

A Well With A Very Strange Production Profile -- September 27, 2019

This page will not be updated.

The well:

19693, 722, Enerplus, Danks 17-44H, Antelope, t7/11; cum 258K 8/19; note that there has been a subtle jump in production except that production for each of the past five months has been reported to be only one day per month;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	Vent/Flare
SANISH	8-2019	1	4306	4921	2226	6459	6298
SANISH	7-2019	1	3795	4153	2319	5692	5531
SANISH	6-2019	1	5141	4561	4126	7711	7499
SANISH	5-2019	1	5233	4960	6402	7851	7615
SANISH	4-2019	1	4893	4466	6165	7340	7185
SANISH	3-2019	0	0	0	1	0	0
SANISH	2-2019	0	0	0	0	0	0
SANISH	1-2019	1	3	246	1	4	4
SANISH	12-2018	19	760	1018	441	1140	982
SANISH	11-2018	30	1179	1489	577	1769	1560
SANISH	10-2018	31	1256	986	389	1884	1670
SANISH	9-2018	30	1272	945	411	1908	1726

Random Update Of An Old Well -- Nice Jump In Production -- September 27, 2019

This page won't be updated; this well is tracked elsewhere.

The well:

16792, 689, BR, Kermit 1-32H, Pershing, t5/08; cum 245K 7/19;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2019	28	6696	6795	3090	9634	709	8855
BAKKEN	6-2019	30	11764	12180	3381	16672	40	16558
BAKKEN	5-2019	30	11194	10925	4679	15918	81	15763
BAKKEN	4-2019	30	10322	10474	6242	15166	3394	11698
BAKKEN	3-2019	30	6783	6917	3168	10314	3040	7200
BAKKEN	2-2019	23	4419	4238	1630	5020	4963	0
BAKKEN	1-2019	29	3857	3963	1487	1988	1916	0
BAKKEN	12-2018	29	5841	5983	2376	2515	2443	0
BAKKEN	11-2018	27	9431	9508	4396	3667	3600	0
BAKKEN	10-2018	31	9548	8968	5736	3296	3219	0
BAKKEN	9-2018	17	5060	5262	4608	2019	1977	0
BAKKEN	8-2018	2	136	0	2	28	27	0
BAKKEN	7-2018	0	0	0	0	0	0	0
BAKKEN	6-2018	0	0	0	0	0	0	0
BAKKEN	5-2018	26	789	674	127	458	393	0
BAKKEN	4-2018	30	1098	1403	154	716	588	54
BAKKEN	3-2018	23	912	704	332	709	652	0
BAKKEN	2-2018	0	0	0	0	0	0	0
BAKKEN	1-2018	0	0	0	0	0	0	0
BAKKEN	12-2017	10	171	0	4	446	421	0
BAKKEN	11-2017	30	727	966	103	1657	1583	0
BAKKEN	10-2017	31	793	704	126	1582	1414	91

Two More 1280-Acre Units WIth Plans For 20 Wells -- September 27, 2019

August 8, 2019:

Case 27809, Newfield, Siverston-Bakken; 14 wells on each of two existing 1280-acre units; 6/7-150-98; and, 30/31-151-98, McKenzie; already 6 wells on each of these units; this will make it 20 wells in each of these 1280-acre units;

Urban Life -- 21st Century -- September 27, 2019

Wow, I'm in a great mood.

I should be in a terrible mood. I really screwed up some "numbers" today regarding the Bakken. I can't believe the mistakes I made. "Doozies," as they say, even for me.

But, the good news is that a reader (or readers caught the mistakes) called me out on them, even telling me Sophia could do a better job. LOL.

So, anyway, I posted the data without my arithmetic. Sorry about the mistakes but we move on.

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Spectrum -- Cable Television

I've said before that I really, really appreciate "Spectrum," our cable television provider.

But it's getting more and more expensive. I had a series of "less than productive" phone calls so I wrote Spectrum a letter. Out of literally millions of customers, they get a letter from me and today one of their folks called me. Great, great conversation. We'll follow up with Spectrum on October 6, 2019, but to say the least, three things:

very expensive
but one gets a lot for that monthly cost
and, when one finally gets someone knowledgeable on the phone, it works wonders

So, we'll see.

I'll let my wife make the decision. LOL.

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Sprint -- Cell Phone

After talking to Spectrum last week, talking to Sprint this morning, in-store, was like talking to ... well, I don't know to what to compare that ... all I can say is I had the most incredible, enlightening conversation I've ever had with Sprint. They never let me down.

So, tomorrow, a third line, a new phone, upgrade an old phone, and a whole bunch of other stuff, and the overall cost is ... yes, expensive, but well worth it.

I really, really don't want to part with my iPhone SE. It was the first iPhone I ever had and it's perfect for me. I love the size. But the lease is up next month: I can either pay it off (not much to pay off) and keep it, or upgrade to a new iPhone. Decisions, decisions.

I am thinking of keeping the iPhone SE. It's become "part of me." I can't imagine parting with it -- ever. Even when Apple quits supporting it, I could put it in a display case on a bookshelf.

And then it struck me. I could keep it. Add a fourth line at lowest possible voice/no text/no data plan and give it to Sophia.

She could figure it out. She would love it. It would be her own. So, we'll see.

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But What A Great Day

It looks like we're going to have 100-degree sunny weather here in north Texas for another week or so. "Everyone" is complaining about the heat. Not me. I love it. Great bicycling weather at 5:00 a.m.

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Alexa

And Alexa is still the greatest. Period. Dot. No pun intended.

Fifty Percent Of Wells Coming Off Confidential List Are DUCs -- September 27, 2019

Wells that were supposed to have come off the confidential list were "finally" posted today:

35897, SI/NC, Slawson, Slasher Federal 5-27-22TFH, Big Bend,
35552, SI/NC, Hess, SC-Barney-154-98-1819H-7, Truax,
35551, 1,800, Hess, SC-Barney-154-98-1819H-6, Truax, t8/19; cum 34K over 29 days;
34909, 879, Nine Point Energy, Eckert Foundation 152-102-22-15-7H, Elk, t4/19; cum 101K 8/19;

Look at the nice Nine Point Energy, Eckert Foundation well, #34909:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	14326	14640	38598	0	0	0
BAKKEN	7-2019	31	21230	20828	50097	19209	17665	1544
BAKKEN	6-2019	28	21553	21604	56281	22230	13952	8278
BAKKEN	5-2019	27	15624	15675	43057	13376	11099	2277
BAKKEN	4-2019	30	25197	25189	66845	18749	15241	3508
BAKKEN	3-2019	31	2822	2555	26880	3233	3023	210
BAKKEN	2-2019	0	0	0	0	0	0	0
BAKKEN	1-2019	0	0	0	0	0	0	0

But, look at what else one learns from that data. Wow, its only September 27, 2019, and the NDIC is starting to post August, 2019, production data. Wow.

Unusual Shaped 2560-Acre Unit In The Bakken; 18 Wells On One 2560-Drilling Unit; Zavanna -- September 27, 2019

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.

Disclaimer: I often make typographical and/or factual errors. If this is important to you go to the source.

I've checked this several times. I think I'm correct on this as it is being reported, but if I have it correct, the 2560-acre spacing unit is unusually shaped. From the October, 2019, hearing dockets:

Case (not permit) 28033, Zavanna, Stony Creek-Bakken, a 2560-acre unit, sections 22/26/27/35-155-100, 18 wells, Williams County

The graphic:

Again, I apologize if I'm wrong, but this is what I'm seeing.

The Market, Early Morning Trading, For The Archives -- September 27, 2019

Updates

Later, 10:30 a.m. CT: the market surges; the DOW is up 118 points and Pocahontas now leads in a nationwide poll. The market loves Pocahontas! LOL. What, me worry? And it looks like SRE might just go "green." Wow.

Original Post

Oil: from The WSJ, link here --

Saudi Arabia has moved to impose a partial cease-fire in Yemen, say people familiar with the plans, as Riyadh and the Houthi militants the kingdom is fighting try to bring an end to the four-year war that has become a front line in the broader regional clash with Iran.

Saudi Arabia’s decision follows a surprise move by Houthi forces to declare a unilateral cease-fire in Yemen last week, just days after claiming responsibility for the September 14, 2019, drone and cruise-missile strike on Saudi Arabia’s oil industry. While the Houthis fired two missiles at Saudi Arabia earlier this week, the strike wasn’t seen by Saudi leaders as a serious attack that would undermine the new cease-fire efforts.

Houthi leaders initially said they were responsible for the attack on the oil facilities, but Saudi, U.S. and European officials have dismissed the claims as a transparent attempt to obscure Iran’s role in the strike. Yemeni fighters, these officials say, have neither the weapons nor the skills to carry out such a sophisticated strike.

Definitions

war: 20 drones/cruise missiles per attack on Saudi assets
partial cease-fire: 10 - 19 drones / missiles per attack on Saudi assets
total cease-fire: 1 - 9 drones / missiles per attack on Saudi assets but "aimed" to miss their target
peace: in the eye of the beholder

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.

Disclaimer: I often make typographical and/or factual errors. If this is important to you go to the source.

What is the market doing today? In early trading, 9:57 a.m. CT:

WTI: down again, now at $56.14; for the Saudis, looking at $61.29 for Brent
Dow: up 84 points

Utilities

BKH: down a bit; trading at $77.19
D: up slightly; trading at $80.89; trading at record highs; buzz is that it has room to run; and, it is paying 4.5%;
MDU: down slightly; has had a great run lately;
SRE: down half a percent, profit-taking? trading at $144

Oils:

RDS-B: up a percent; trading at $59.56
HES: down a bit; trading at $61.49
COP: up a bit; trading at $58.05

Autos:

GM: down eleven cents -- maybe the strike isn't over -- trading at $37.50
F: up two cents; trading at $9.16;

Pipelines:

ENB: up 3/4th of a percent; trading at $35.99
EPD: up half a percent; trading at $28.64
KMI: up 1%; trading at $20.74

Miscellaneous:

BRK-B: up half a percent; trading at $208.10
EW: down 1.35%; down $3.00; trading at $218.76
AAPL: up slightly; trading at $220.34
UNP: down slightly;

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Friday, September 27, 2019