- oil supertankers fetch astronomical rates, Bloomberg, March 17, 2020;
- Saudis to push oil exports to 10 million bopd, Rigzone, March 17, 2020;
- Saudi Arabia: a fight for survival, contributor over at oilprice, March 15, 2020; will be re-posted as a stand-alone post;
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Back to the Bakken
Active rigs:
$25.08 | 3/18/2020 | 03/18/2019 | 03/18/2018 | 03/18/2017 | 03/18/2016 |
---|---|---|---|---|---|
Active Rigs | 56 | 65 | 58 | 47 | 32 |
Wells coming off the confidential page -- Wednesday, March 18, 2020: 41 for the month; 212 for the quarter, 212 for the year:
- 36857, drl, Resonance Exploration, Resonance Greene 15-23H, Wildcat, a Madison well; t--; cum --;
- 36301, SI/NC, BR, Renegade 34-15TFH-R, Sand Creek, t--; cum --;
- 36143, A, CLR, Uhlman Federal 10X-7H, Banks, t--; cum 72K 1/20; 70K in 1/20; see production data below;
- 35161, A, CLR, Uhlman Federal 9-7H1, Banks, t--; cum 28K 1/20;
- 34850, SI/NC, CLR, Pittsburgh 7-18H1, Banks, t--; cum 28K 1/20;
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Early Production Data For CLR Wells Reporting Today
36143, 33-053-08964: middle Bakken, 11.4 million gallons of water; 89.1% water by mass; friction reducer, 0.06068; fracked 7/25/19 - 8/7/19:
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 1-2020 | 31 | 69939 | 69768 | 48960 | 95650 | 93645 | 1855 |
BAKKEN | 12-2019 | 1 | 1930 | 1882 | 1345 | 2522 | 2475 | 10 |
BAKKEN | 11-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 10-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 9-2019 | 4 | 439 | 439 | 1974 | 694 | 0 | 6 |
35161, 33-053-08641, first bench, Three Forks, 9 million gallons of water; 89.1% water by mass; 0.06778, friction reducer;fracked 8/17/19 - 8-27-19:
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 1-2020 | 28 | 27884 | 27818 | 67753 | 47758 | 46755 | 928 |
BAKKEN | 12-2019 | 1 | 839 | 818 | 2256 | 1478 | 1450 | 6 |
BAKKEN | 11-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 10-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 9-2019 | 4 | 239 | 239 | 3639 | 599 | 0 | 599 |
34850, 33-053-08509, first bench, Three Forks, 9.7 million gallons of water; 89.4% water by mass, 0.05923, friction reducer; fracked, 6/3/19- 6/21/19:
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 1-2020 | 31 | 26770 | 26707 | 50043 | 40135 | 39293 | 779 |
BAKKEN | 12-2019 | 2 | 834 | 813 | 1591 | 1054 | 1035 | 4 |
BAKKEN | 11-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 10-2019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BAKKEN | 9-2019 | 4 | 435 | 435 | 2301 | 493 | 0 | 493 |
The more I read this, and from former history, and your commentary, I think this low has everyone scared. Saudi will never export 12.0 million or 13.0 million barrels. Most of the excess will be stored for future gain. The low price, will be life-blood for the economies to come out of recession and there will be a big blink, maybe in June.
ReplyDeleteFun times.
You may recall that several dozen posts ago, I used the phrase "head fake."
DeleteI wrote:
Head fake: by the way, have contracts been signed by Saudi Arabia and the European refiners for $25-Brent oil? If so, how far out have the contracts been signed?
https://themilliondollarway.blogspot.com/2020/03/daily-note-part-1-march-12-2020.html.