Wow! Are You Kidding! Will The Prince Get Away With Murder Again! Talk About Your Classic Bait And Switch; Hold On To Your Keffiyeh -- November 9, 2019

Updates

November 10, 2019: across the board, the Saudi Aramco IPO is being panned --

• twitter: no one finds anything good about it
• "the Aramco IPO isn't a great deal for investors" -- well, duh -- Barron's
• "Saudi Aramco's IPO prospectus doesn't reveal how much it plans to sell" -- WSJ
• key details on which investors are focused were missing -- WSJ  
• 675-page prospectus -- 675 pages of obfuscation
  

Saudi in deep trouble and no credibility, a laughingstock IPO, emperor with no clothes:

Original Post 

How many years did we hear about a Saudi Aramco IPO? Five years? Six years? I honestly don't recall but it has been many years.

And "how much" of Saudi Aramco was going to be made available to the public? 2%. Two percent.

Last week the Saudi Aramco IPO was finally launched. It was noted that the prospectus was coming out AFTER the IPO launched. Folks were buying into a "publicly traded company" without knowing what was being sold. A page from the Obamacare page book. "We need to pass the bill to find out what's in it"-- Nancy Pelosi.

The prospectus is yet to be released but the most important "data point" has been leaked.

"How much" of the company is being offered to investors?

Hold on to your keffiyeh.

Reuters is reporting that  Saudi Aramco is looking to sell up to 0.5% of the state oil giant to retail investors in its planned initial public offering (IPO).

"Up to." Which means it may not even be 0.5%.

The news was released on Saturday morning, 8:48 a.m. (EST, I assume).

So, at the end of the week, investors assumed they were investing in as much as 2% of Saudi Aramco. Today we learn that they were investing in no more than 0.5% of the company.

Let's see. 0.5 is what percent of 2.0? Twenty-five percent?

Sanish Wells -- Section 15-153-92 -- Wells Recently Completed -- November 9, 2019

The wells:

• 30258, 393, Sinclair, Uran 4-15TFH, Sanish, t5/17; cum 76K 9/19; unremarkable; has just come back on line;
• 20994, 1,074, Sinclair, Uran 3-15TFH, Sanish, t12/11; cum 234K 9/19; unremarkable; has just come back on line;

• 17898, 912, Sinclair, Uran 2-15H, Sanish, t3/09; cum 254K 9/19; nice jump in production after coming back on line;

• 35981, 523, Sinclair, Uran 8-15H, Sanish, t8/19; cum 33K 9/19; very nice well; just completed:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2019	25	25759	25493	30658	26252	0	26158
BAKKEN	8-2019	11	7436	6808	12262	7396	0	7355

• 35982, 934, Sinclair, Uran 7-15H, Sanish, t8/19; cum 30K 9/19; very nice well; just completed:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2019	28	22988	22729	38657	26991	0	26885
BAKKEN	8-2019	7	6560	5826	14212	7300	0	7274

• 31470, 602, Sinclair, Uran 6-15TFH, Sanish, t8/19; cum 34K 9/19; very nice well; just completed:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2019	29	21666	20613	55566	24223	0	24114
BAKKEN	8-2019	11	11946	11132	38210	11430	0	11389

• 30612, 461, Sinclair, Uran 5-15H, Sanish, t5/17; cum 168K 1/19; off line 1/19; remains off line 9/19;

• 16750, IA/no IP, Sinclair, Uran 1-22H, Sanish, t--; cum 187K 5/19; off line 5/19; remains off line 9/19;

Notes From All Over, Part 1 -- November 9, 2019

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

The Dow eked out a very, very small gain yesterday, Friday, November 8, 2019, capping off a huge week for the market.

Hess: I wouldn't have bothered to post that note about the Dow, but Hess had a particularly good day, up 1.58%, up $1.12, closing at $71.85. It's 52-week high is $72.19; it pays 1.52%. Investopedia ranked Hess as one of the top three "momentum" energy stocks.

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The Artist At Work

Long term goal: engraver for the US mint.

Anticipation -- SHD And QEP In McLean County -- November 9, 2019

Congratulations: an SHD well in Deep Water Creek Bay has gone over 750,000 bbls of crude oil.

• drilled only four years ago, back in 2015, natural gas, all flared: 538,749,000 cubic feet = 90,000 boe
• total boe: 840,000 boe

Deep Water Creek Bay: is tracked here.  Permits for Bakken wells in "McLean County" are generally permits in Deep Water Creek Bay. 

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SHD's Golden Well In Deep Water Creek Bay -- Update

The full production profile for this well has been posted at this link. The well:

• 19296, 2,388, SHD Oil & Gas, Golden 22-31H, Deep Water Creek Bay, t3/15; cum 750K 9/19;

20658 in same drilling unit; on confidential list; no release date posted. 

• 20658, conf, SHD Oil & Gas, Maya 24-31H, Deep Water Creek Bay,

Two permits renewed, from November 5, 2019::

• SHD: a Mufasa permit and a Rocky permit, both in McLean County

Producing well has just come off line:

• 18316, 1,197, SHD, Simba 24-30H, Deep Water Creek Bay, t4/10; cum 314K 8/19; came off line 9/19; see graphic below;

Two TATD wells:

• #29567,
• #29568,

Deep Water Creek Bay:

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Also In McLean County

From the May, 2019, quarterly lease sales:

Based on location, not likely to be Bakken wells.

Global Warming -- North Texas -- DFW Area -- November 9, 2019

Earlier this week based on weather forecasts I was expecting a most miserable Thursday and Friday. Thursday was a bit wet, a bit windy a bit cool, but nothing compared to what was predicted for Friday.

So, how bad was it yesterday, Friday? Absolutely gorgeous. One of the nicest autumn days we have had this fall. The forecast was that the weekend would be fine (actually, very, very nice) before another cold front moved in on Veterans Day.

Today: gorgeous, and it should continue to improve, if that's possible. I find it difficult to imagine it getting even better.

I'll get to Bakken updates later, but am relaxing for now. Coffee at McDonald's and then to watch Sophia at gymnastics and swimming lessons.

Good luck to all.