Gasoline Demand Spikes -- Might This Have Something To Do With Price? -- October 30, 2019

Updates

October 31, 2019: I completely missed this. But a reader caught it. The reader points out, and I agree, the gasoline demand is due to a) low price; and, b) full employment (maybe not in that order). Much appreciated. See first comment.

Original Post 

In the DFW (north Texas) area, Gas Buddy shows regular unleaded gasoline easily found at $2.10/gallon. In fact, earlier in the week three neighborhood service stations advertised regular unleaded gasoline for $2.08/gallon. It appears the most common price for this gasoline is $2.19/gallon. In Long Beach, CA, the same grade of gasoline appears to be running about $3.69/gallon.

Link here.

If I was allowed only one metric to track / "evaluate" the US economy, it would be gasoline demand.  I have said that many times.

See this link: Through July of this year (2019), the all-time high was last June, 2018, at 9.797 million bbls, followed by August, 2018, of 9.778 million bbls per day. I assume that record could be eclipsed when the August, 2019, data is released.

However, until that data is released, it should be noted that for the most recent week for which data is available (week ending 10/25/19), gasoline demand was 9.784 million bbls per day, which eclipses the August, 2018, data, and is very close to the record set in June, 2018.

Yes, I notice that the data above is a four -week average where the link with monthly data is a monthly average -- slightly different ways of measuring the demand. Be that as it may.

The second point, and this is comparing apples to apples, the rate of growth in gasoline demand in the last few weeks it significantly greater than the rate of growth one year ago.

All things being equal, the recent spurt in gasoline demand is quite remarkable.

This is not the type of graph I would associate with "recession is right around the corner."

Active Rigs In North Dakota Back To 60; Twelve DUCs Reported As Being Completed -- October 30, 2019

Active rigs:

$55.06	10/30/2019	10/30/2018	10/30/2017	10/30/2016	10/30/2015
Active Rigs	60	68	52	34	70

No new permits today.

Twelve producing wells (DUCs) reported as completed:

• 33688, 304, Crescent Point Energy, CPEUSC Berner 2-19-18-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33684, 368, Crescent Point Energy, CPEUSC Berner 3-19-18-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33682, 63 (no typo), Crescent Point Energy, CPEUSC Berner 7-19-18-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33687, 311, Crescent Point Energy, CPEUSC Nelson 2-30-31-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33683, 378, Crescent Point Energy, CPEUSC Nelson 3-30-31-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33685, 374, Crescent Point Energy, CPEUSC Nelson 6-30-31-157N-99W, Lone Tree Lake, t10/19; cum --;
• 33681, 49 (no typo), Crescent Point Energy, CPEUSC Nelson 7-30-31-157N-99W, Lone Tree Lake, t10/19; cum --;
• 35418, 567, Kraken, Dragseth 9-4 3H, Winner, t9/19; cum --;
• 35417, 648, Kraken, Dragseth 9-4 4H, Winner, t9/19; cum --;
• 35429, 590, Kraken, Knox 16-21 2TFH, Winner, t9/19; cum --;
• 35428, 723, Kraken, Knox 16-21 3H, Winner, t9/19; cum --;
• 34563, 1,065, Abraxas, Ravin 9H, North Fork, t5/19; cum 106K 9/19;

CLR

Locator: 10010CLR.

CLR web page here. 

As of October 30, 2019 (3Q19 earnings) CLR will be tracked here.

****************************************
Updates

May 31, 2024: just before CLR went private (bought by the Hamm family), market cap for CLR was just under $27 billion, that was in 2023.

October 17, 2022: CLR goes private. We will no longer see quarterly reports.

July 30, 2022: 2Q22 earnings presentation.

June 14, 2022, flag day: after years of speculation, Harold Hamm finally pulls the trigger -- will take his company private.

May 5, 2022: 1Q22 --

• additional acreage added in past 18 months: 600,000 net acres
  
• production:
• 195,000 bopd
• 1,074 MMcfpd
  
• plays:
• Bakken: 825,000 acres; 6 rigs; #1 producer;
  
• Powder River: 390,000 acres; 2 rigs; #2 leaseholder;
  
• Anadarko: 450,000 acres; 8 rigs; #1 producer;
  
• Permian: 170,000 acres; 4 rigs; #10 leaseholder;
  

February 14, 2022: 4Q and full year production, link here.

• Bakken, CY2021: 169,636 bopd
• Bakken, 4Q21: 183,141
• total production, all basins, 4Q21: 340,168 bopd

January 26, 2022: update, SeekingAlpha.

January 25, 2022: CLR building a position in the Powder River Basin, Wyoming. 

January 25, 2022: CLR acquires 172,000 net acres in Wyoming, Powder River Basin, for $2,600 / acre. 

November 6, 2021: CLR enters the Permian.

October 27, 2021: 3Q21 -- some preliminary production numbers; earnings release has been re-scheduled for November 3, 2021.

October 16, 2021: 2Q21, anticipating 3Q21.

August 6, 2021: CLR will be drilling an exploratory well in Vernon Parish, Louisiana, target Austin Chalk, just west of TMS.

August 5, 2021: 2Q21 transcript.

February 17, 2021: 4Q20 transcript; Q&A here;

February 17, 2021: February, 2021 corporate presentation;

February 17, 2021: CLR acquires 130,000 net acres in Powder River Basin, Wyoming, for $215 million, all cash deal.

February 12, 2021: damn the torpedoes, full speed ahead;

July 15, 2020: damn the torpedoes, full speed ahead.

1Q20: link here -- 

• production 
• 360,000 boepd (56% oil)
• up 9% year-over-year
• shutting down in the Bakken

4Q19 and full year, 2019: press release here. 

• full year:
• net income: $775.6 million
• $2.08 / diluted share
• $838.7 million adjusted net income, or $2.25/diluted share (non-GAAP)
• production:
• 340,395 boepd, up 14% y/y
• 197,991 bopd, up 185 y/y
• $3.1 billion of cash flow from operations;
• $608 million free cash flow
• #1 oil producer in both the Bakken and Oklahoma
• Bakken: 148,417 average daily oil production, up 14% y/y
• south: 41,695 bopd; up 43% y/y
• 4Q19:
• $193.9 million net income, or 53 cents/share (one-penny beat)
• $203.6 million adjusted net income, or 55 cents per diluted share
• production:
• 365,341 boepd average daily production, up 13% y/y
• 206,249 bopd average oil production, up 10% over 4Q18
• 2020 CAPEX and guidance
• $2.9 billion to $3.0 billion of cash flow from operations
• $350 million to $400 million of free cash flow
• budgeted at $55 WTI and $2.50 HH; 
• $5 change in WTI, approximate $300 million in cash flow

3Q19 earnings presentation here. 

3Q19: From the press release:

• $158.2 million in net income in 3Q19, or $0.43 per diluted share
• $199.4 million adjusted net income in 3Q19, or $0.54 per diluted share (non-GAAP)
• 198,074 average daily 3Q19 oil production up 20% over 3Q18
• 332,315 boepd average daily 3Q19 production up 12% over 3Q18
• Bakken: 145,436 average daily 3Q19 oil production up 13% over 3Q18
• 57 gross operated wells deliver 2,313 boepd average/well initial rate
• South: 44,854 average daily 3Q19 oil production up 62% over 3Q18
• SpringBoard exceeded 3Q19 target by 31%: 23,641 bopd; 4Q19 target raised to ~24,000 Bopd
• CLR STACK: two, 7-well oil units deliver exceptional results: 38,320 bopd combined initial rate
• $187 million of share repurchases executed through October 29, 2019
• quarterly dividend of $0.05 per share in November 2019

Continental Resources (CLR) -- brought forward from "Bakken operators."

• CY18 and 4Q18 results; full year income at $1 billion;  4Q18 Bakken production: 186,934 bopd; 183,836 boepd; 2018 was "break out year" for debt reduction; cash build;
• 3Q18 results; Bakken production, 167,643 boepd; added two rigs to the Bakken; now with eight; many records set; earnings beat expectations; presenation;
• 2Q18 presentation: step change in well performance across the Bakken
• May, 2018, presentation: 796,000 net acres in the Bakken; 161K boepd, up 48% over 1Q17; 1,100 mboe EUR type curves ($7.9 million) vs 980 mboe EUR type curves in 2017; see SeekingAlpha article;
• March, 2018: 1.1 million-bbl EUR type curves; 
• August, 2017: 806,000 net acres in the Bakken; 1.1 million boe EURs
• CLR transfers 67 wells to Kraken Operating, October 27, 2016
• August, 2016: sells 80,000 non-core Bakken assets; $222 million;
• 2Q16 corporate presentation;
• 1Q16 corporate presentation; 
• 2015 corporate presentation: CAPEX cut 41% due to oil price slump
• 2014 analyst day: 1,197,884 net acres (892,824 ND; 305,060 MT); 109,000 boepd; 8 wells in each MB and TF1, 4 wells in TF2; enhanced completion --> 25% uplift in EUR; long-stroke pumping units;
• 2Q14:  ND Bakken - 95K boepd; MT Bakken - 14K;
• 22 rigs beginning of 2013 in the Bakken; will reduce to 20 rigs due to efficiencies
• Well cost: $8.3 million; goal - $8.2 million by year-end 2013
• 1Q13: net Bakken production: 76,900 boepd; gross >100,000 boepd; 1.2 million acres;
•  785 million boe proved reserves year-end 2012; 54% increase YOY
• 2Q12: average production of 94,852 boepd
• 4Q11: 901,098 net acres
• 4Q11 production: 75,219 boepd
• 2009 production: 14,000 boepd
• EUR: 603K boe per well 

Keystone Pipeline (Not Keystone XL) With Leak In Northeastern ND -- Extent Unknown -- October 30, 2019

Link here.

• current leak near Edinburg, ND, Walsh County; discovered Tuesday, October 29, 2019
• when discovered, flow turned off
• Edinburg: about 45 miles northwest of Grand Forks, ND
• this was the pipeline that was built in 2010
• goes through seven US states
• carries Canadian heavy oil from western Canada
• extent of leak unknown; should know more Thursday, October 31, 2019
• it has experienced spills in the past
• 2011: 14,000 gallons (350 bbls) leak in southeastern ND, near the South Dakota border
• 2017: 210,000 gallons (5,000 bbls) leak in northeastern SD, near the ND border

CLR 3Q19 Earnings -- October 30, 2019

From the press release:

• $158.2 million in net income in 3Q19, or $0.43 per diluted share
• $199.4 million adjusted net income in 3Q19, or $0.54 per diluted share (non-GAAP)
• 198,074 average daily 3Q19 oil production up 20% over 3Q18
• 332,315 boepd average daily 3Q19 production up 12% over 3Q18
• Bakken: 145,436 average daily 3Q19 oil production up 13% over 3Q18
• 57 gross operated wells deliver 2,313 boepd average/well initial rate
• South: 44,854 average daily 3Q19 oil production up 62% over 3Q18
• SpringBoard exceeded 3Q19 target by 31%: 23,641 bopd; 4Q19 target raised to ~24,000 Bopd
• CLR STACK: two, 7-well oil units deliver exceptional results: 38,320 bopd combined initial rate
• $187 million of share repurchases executed through October 29, 2019
• quarterly dividend of $0.05 per share in November 2019

Note, repeating:

• CLR STACK: two, 7-well oil units deliver exceptional results: 38,320 bopd combined initial rate

Random Update Of An Old Bakken Well In Squaw Creek; No Evidence Of A Re-Frack -- October 30, 2019

Until recently, I had not seen FracFocus with frack data before 2012 (in the Bakken). That doesn't mean FracFocus did not have such data or that wells were not fracked before 2012 (obviously not the case), it simply means I had not see FracFocus data for Bakken wells fracked before and during 2012; I had looked at a lot of those wells that were drilled / completed before and during 2012.

Today, I see that FracFocus has the data for a well that was fracked in late 2011, a one-day frack on December 30, 2011, and tested on January 4, 2012. FracFocus shows 2.1 million gallons of water, 82% by mass; sand, about 6.5% by mass. Neither FracFocus nor NDIC suggests this well was ever refracked.

The well: 

• 20238, 180, WPX, Spotted Horn 26-35H, 30 stages; 3.3 million lbs; Squaw Creek, t1/12; cum 216K 8/19;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	27	13035	13006	17058	18341	1650	13220
BAKKEN	7-2019	0	0	0	0	0	0	0
BAKKEN	6-2019	20	5561	5390	19246	7824	4299	2554
BAKKEN	5-2019	1	30	0	0	42	0	39
BAKKEN	4-2019	6	252	470	385	692	438	100
BAKKEN	3-2019	12	411	421	157	579	148	216
BAKKEN	2-2019	28	817	835	250	1866	714	0
BAKKEN	1-2019	31	1258	1223	420	2101	1248	0
BAKKEN	12-2018	31	1390	1481	394	2182	1255	0

If the "average" production just prior to 8/19 can be taken to be about 1,500 bbls/month, then the jump in production to 14,483 bbls (normalized to 30 days), then we have a 10-fold increase in production.

This well had been previously identified/listed as a well of interest but that frack data had not been posted until now. 

US Crude Oil Inventories Surge; Notes From All Over, Part 3 -- October 30, 2019

EIA: weekly crude oil inventories (remember, API: small build, less than a million bbls, reported yesterday):

• weekly change:  increased by a whopping 5.7 million bbls
• WTI: drops a percent; now under $55
• OPEC basket: drops about a percent; $61 and change
• break-even for Saudi Arabia: $86.50 (link here; IMF)
• US crude oil inventories: at 438.9 million bbls, now 1% above the five-year average
• analysts: probably just a timing thing, a mismatch with export dates; not to worry
• refiners: operating at 87.7% capacity; perhaps a bit better than last few weeks but incredibly low
• MPC: largest US refiner -- down 2.3%; down $1.56
• jet fuel? elites flying more than ever -- atmospheric CO2? what atmospheric CO2? -- jet fuel supplied was up 9.6% compared with same four-week period last year 
• sadly, the grounding of 737 MAX isn't helping; much more fuel efficient; and so it goes

*******************************
Re-Balancing

Week	Week Ending	Change	Million Bbls Storage
Week 0	November 21, 2018	4.9	446.9
Week 1	November 28, 2018	3.6	450.5
Week 2	December 6, 2018	-7.3	443.2
Week 3	December 12, 2018	-1.2	442.0
Week 4	December 19, 2018	-0.5	441.5
Week 5	December 28, 2018	0.0	441.4
Week 6	January 4, 2019	0.0	441.4
Week 7	January 9, 2019	-1.7	439.7
Week 29	June 12, 2019	2.2	485.5
Week 38	August 14, 2019	1.6	440.5
Week 39	August 21, 2019	-2.7	437.8
Week 40	August 28, 2019	-10.0	427.8
Week 41	September 5, 2019	-4.8	423.0
Week 42	September 11, 2019	-6.9	416.1
Week 43	September 18, 2019	1.1	417.1
Week 44	September 26, 2019	2.4	419.5
Week 45	October 2, 2019	3.1	422.6
Week 46	October 9, 2019	2.9	425.6
Week 47	October 17, 2019	9.3	434.9
Week 48	October 23, 2019	-1.7	433.2
Week 49	October 30, 2019	5.7	438.9

***********************************

Miscellaneous

Jeffrey: homicide? Well, duh.

FDR: considered one of the best presidents ever; under whose watch did "Pearl Harbor" occur? Remained neutral until that attack. Neutral? With all that was going on in Europe? Just thinking out loud. 

Trump: gets almost the entire Mideast to join the US in sanctions on Iran. Timing is interesting. Baghdadi's dead. Haven't heard much out of North Korea lately. Just thinking out loud.

The market:

• Dow: absolutely flat ... 0.0000
• YUM: not so yummy. Drops 10%
• PCG: investors lose $4.1 billion in four trading days; CalPERS -- huge loses; previously posted;

Notes From All Over, Part 2 -- October 30, 2019

PCG: in pre-market trading, PCG is up almost 20%, up almost a buck on a $5-stock.

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

APPL: reports after the market closes today.

Dow futures: climbing the wall of worry; counting on a Fed rate cut today. Consensus: 90% of analysts, "they" say, expect a cut in the "Fed's" interest rate. Before the market opens:

• BA: after a huge day yesterday -- up over 2%; gained $8.05 -- this was the day the BA CEO testified before Congress; does one get the feeling that appearing before Congress is no big deal; Facebook did just fine after its CEO testified; now BA did just fine after its CEO testified
• GE (not part of the Dow), one of the movers today -- up over 7% in pre-market trading; there must be a whole ecosystem of traders that do nothing but bottom feet -- if so, must be making a killing 
• EW: looks like it hit an intra-day high yesterday
• GNRC: after all the excitement, dropped back a bit yesterday
• AMZN:

NASDAQ is up 13 points. At 8,067 -- see all-time highs below.

• AAPL: after a 2.3% loss yesterday, up a bit today in pre-market trading; up $1.45

NASDAQ all-time highs:

• closing: Friday, July 26, 2019 -- earlier this year -- 8,330.21
• intraday: Friday, July 26, 2019 -- earlier this year -- 8,339.64 

Public school vacation in Chicago: continues. Into ten days; no end in sight?

Notes From All Over, Part 1 -- October 30, 2019

Tesla: one would think that the BYD story is very, very concerning for Tesla, which is pretty much focused on China. It's all about subsidies.

Tesla: filing shows US sales tumbled almost 40% in third quarter and yet their quarterly income was amazing. Something tells me analysts are poring over Tesla's most recent quarterly report. Things simply do not add up.

U.S. sales, which account for the biggest share of the company’s total revenue, fell to $3.13 billion from $5.13 billion a year earlier.

Sales in China rose 64% to $669 million and its other segment, which covers the rest of the globe, rose by more than a billion dollars to $1.83 billion.

“Musk & Co. are laser-focused on Europe and China for growth, while domestically, core demand is fading relative to other regions,” Wedbush analyst Dan Ives said, adding that U.S. growth will remain more challenging going forward.

In its earnings report earlier this month, Tesla reported a nearly 8% drop in total revenue to $6.30 billion, missing analysts’ average estimate of $6.33 billion.

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

Denver: more snow, record cold, winter storm warning in effect (winter won't officially be here for several more weeks).

North Dakota:

Idle Chatter, Petro-Hunt And The Charlson -- October 29, 2019

Disclaimer: I am inappropriately exuberant about the Bakken. In a long note like this, there will be factual and typographical errors. 

Of all the operators in the Bakken, Petro-Hunt seems to be off the radar scope.

Hold that thought.

There are a lot of great fields in the Bakken. It's impossible for me to come up with a top ten list. Some fields are hot for awhile, then activity slows down and another field becomes hot. Here are some of the fields that always get me excited:

• Elm Tree
• Banks
• Grail
• Stockyard Creek
• Reunion Bay
• Sanish
• Parshall 

One field that doesn't get a lot of attention but is probably the most interesting. The Charlson. I've blogged about it several times. One of my better, longer posts on Petro-Hunt and the Charlson is at this link.

I was reminded of that when updating a 2560-acre drilling unit in the Charlson.

One of the wells:

• 16452, 265, Petro-Hunt, USA 14D-4-1H, Charlson, single section, t10/07; cum 374K 8/19;

For newbies:

• this well was drilled in the very first year of the Bakken boom, 2007
• this well is now twelve years old
• for such an old well, its cumulative production is mediocre at best -- but that's by today's standards; in 2007, EURs in the Bakken were pegged at 375,000 bbls; and guess what? that's exactly where this well is
• but then this:
• monthly production, after the dreaded Bakken decline, plateaued at around 3,000 bbls/month (which, by the way, is a nice well) 
• last summer, the 11-year-old well was taken off line for three months to give it a breather (LOL)
• when it came back on line, production jumped 17,000 bbls/month -- a 5-fold increase in production
• but there's more: this was the production when this well was first drilled/completed:

BAKKEN	2-2008	29	2626	2633	155	3501	3501	0
BAKKEN	1-2008	31	3191	3198	148	4171	4171	0
BAKKEN	12-2007	30	4015	4051	277	5636	5636	0
BAKKEN	11-2007	27	5079	5120	686	6535	6535	0
BAKKEN	10-2007	27	7527	7298	1064	9261	9261	0
BAKKEN	9-2007	2	564	512	0	0	0	0
BAKKEN	8-2007	0	0	0	0	0	0	0
BAKKEN	7-2007	0	0	0	0	0	0	0
BAKKEN	6-2007	0	0	0	0	0	0	0
BAKKEN	5-2007	0	0	0	0	0	0	0

The best this well did immediately after being completed, less than 8,000 bbls/month.

Then eleven years later, a jump in production from 3,000 bbls/month to 17,000 bbls/month.

Recent production:

BAKKEN	1-2019	31	8434	8415	3037	7885	0	7885
BAKKEN	12-2018	31	10701	10643	3439	8782	0	8782
BAKKEN	11-2018	30	11206	11186	3772	8156	0	8156
BAKKEN	10-2018	31	11968	12043	4857	8949	0	8949
BAKKEN	9-2018	30	14350	14365	5373	10551	0	10551
BAKKEN	8-2018	31	17439	17616	7744	12368	0	12361
BAKKEN	7-2018	12	7552	7289	4030	7408	0	7408
BAKKEN	6-2018	0	0	0	0	0	0	0
BAKKEN	5-2018	0	0	0	0	0	0	0
BAKKEN	4-2018	19	1294	1341	475	1129	91	1037
BAKKEN	3-2018	28	2503	2666	890	2340	1579	761

From a sundry form dated November 26, 2007:

A 12 1/4" surface hole was drilled and 9 5/8" casing cemented without any problems.

An 8 3/4" hole was then drilled to 10,266' MD and 7" casing was ran and cemented.

A 6" hole was then drilled to 15,456' MD and a 4 1/2" liner set and cemented from 10,003' to 10,673' with the remainder of it left open hole. A coiled tubing motor was stuck and lost in the lateral at 10,640'.

When it -- the coiled tubing motor -- couldn't be recovered, a bridge plug was set at 9,953', a window cut in the casing, and a curve built to intersect the old lateral.

Even though the 2nd lateral was drilled in the same direction, it failed to intersect the first lateral. The second lateral was drilled to 14,570' MD and a 4 1/2" liner was ran and cemented from 9,610' to 10,675'.

The well was completed [sic -- drilled to depth] but would not flow so it was sand fractured. It was placed on rod pumping unit 11-21-2007.

Frack data at time of original completion, back in 2007:

• open hole or perforated interval: 10,675' - 14,570'
• 72,360 lbs mesh sand
• 348,500 lbs mesh sand with 5,513 bbls of gelled water

IP: 265

(Some of the data below is a repeat from above.)

First twelve months production, May, 2007 - May 2008:

BAKKEN	5-2008	31	1397	1403	70	1618	1618	0
BAKKEN	4-2008	27	1597	1616	333	2123	2123	0
BAKKEN	3-2008	28	2371	2382	211	3093	3093	0
BAKKEN	2-2008	29	2626	2633	155	3501	3501	0
BAKKEN	1-2008	31	3191	3198	148	4171	4171	0
BAKKEN	12-2007	30	4015	4051	277	5636	5636	0
BAKKEN	11-2007	27	5079	5120	686	6535	6535	0
BAKKEN	10-2007	27	7527	7298	1064	9261	9261	0
BAKKEN	9-2007	2	564	512	0	0	0	0
BAKKEN	8-2007	0	0	0	0	0	0	0
BAKKEN	7-2007	0	0	0	0	0	0	0
BAKKEN	6-2007	0	0	0	0	0	0	0
BAKKEN	5-2007	0	0	0	0	0	0	0

It was refracked from January 24, 2015, to January 26, 2015, according to FracFocus, with a very, very small completion: 1.3 million gallons of water; 88.9% water by mass; sand, 8.85% by mass. 

Plateaued to 2,000 bbls/month through most of its life; representative profile, July, 2016, to July, 2017:

BAKKEN	7-2017	25	2504	2194	1113	1688	1557	127
BAKKEN	6-2017	17	1751	1674	1907	3169	2725	347
BAKKEN	5-2017	14	487	544	457	426	370	0
BAKKEN	4-2017	29	1712	1708	1300	1936	1756	10
BAKKEN	3-2017	31	2596	2620	862	3007	2791	0
BAKKEN	2-2017	28	2639	2639	935	2951	2756	0
BAKKEN	1-2017	20	2176	2170	692	2142	832	1174
BAKKEN	12-2016	30	2350	2335	623	3274	0	3068
BAKKEN	11-2016	30	2260	2250	687	3112	0	2903
BAKKEN	10-2016	31	2498	2532	890	2016	1692	108
BAKKEN	9-2016	12	1256	1169	567	1071	987	0
BAKKEN	8-2016	24	2064	2097	607	2184	2017	0
BAKKEN	7-2016	31	2839	2879	865	2897	2681	0

It was taken off line for four months, summer of 2018, and this was the production when it came back on line; it was not re-fracked:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	29	2525	2452	2105	6252	0	6252
BAKKEN	7-2019	26	4184	4264	2251	12471	0	12471
BAKKEN	6-2019	30	5235	5322	2648	6041	0	6041
BAKKEN	5-2019	31	6561	6521	2011	10508	0	10508
BAKKEN	4-2019	30	6550	6513	2052	5997	0	5955
BAKKEN	3-2019	30	6799	6802	2617	6777	0	6568
BAKKEN	2-2019	28	7419	7493	2492	6487	0	6341
BAKKEN	1-2019	31	8434	8415	3037	7885	0	7885
BAKKEN	12-2018	31	10701	10643	3439	8782	0	8782
BAKKEN	11-2018	30	11206	11186	3772	8156	0	8156
BAKKEN	10-2018	31	11968	12043	4857	8949	0	8949
BAKKEN	9-2018	30	14350	14365	5373	10551	0	10551
BAKKEN	8-2018	31	17439	17616	7744	12368	0	12361
BAKKEN	7-2018	12	7552	7289	4030	7408	0	7408

So, did you catch that. Petro-Hunt wasn't even going to frack this well. They drilled to depth. But the well would not flow. So, they pumped a bit of sand and a bit of water down the wellbore and they had a well.

There are some fields that seem particularly well-suited for re-fracks. The Charlson is one of them. Reunion Bay seems to be another.

By the way, look at this Petro-Hunt Charlson well, only three years old and trending toward one million bbls cumulative, and a very moderate frack:

• 28016, 912, Petro-Hunt, USA 153-95-22D-15-1HS, middle Bakken, 37 stages; 4.7 million lbs, Charlson, t11/15; cum 721K 8/19; huge well; still at 8,000 bbls/month, 8/19;