Active rigs:
| $23.23 | 3/26/2020 | 03/26/2019 | 03/26/2018 | 03/26/2017 | 03/26/2016 |
|---|---|---|---|---|---|
| Active Rigs | 46 | 68 | 59 | 49 | 32 |
Three new permits, #37474 - #37476, inclusive --
- Operator: Petro-Hunt
- Field: Stoneview (Divide)
- Comments:
- Petro-Hunt has permits for a 3-well Watterud pad in NWNW section 14-160-95, Stoneview oil field
- Moss, Wisteria, Fireweed, and Elderberry in Dunn County
- 35914, SI/A, CLR, Wahpeton 16-16H1, Banks, t--; cum --; fracked 12/6/19 - 12/17/19; 7.1 million lbs; 88.42% water by mass; friction reduction, 0.06511;
- 31520, SI/A, CLR, Steele Federal 5-24H1, Banks, t--; cum 18K over 15 days; fracked 12/14/19 - 12/23/19;8.2 million lbs; 87.8% water by mass; friction reduction, 0.06636;
- 31523, SI/A, CLR, Steele Federal 9-24H, Banks, t--; cum 15K over 14 days; fracked 12/2/19 - 12/13/19; 10.6 million gallons of water; 86.88% water by mass; friction reduction, 0.06511;
- 31522, SI/A, CLR, Steele Federal 8-24H1, Banks, t--; cum 17K over 13 days; fracked 12/1/19 - 12/13/19; 9 million gallons of water; 88.2% water by mass; friction reduction, 0.06982;
Neighboring wells of the above DUCs showed evidence of the halo effect.
But rigs don't matter? And the Bakken can compete with the Saudis on price. Wrong, wrong.
ReplyDeleteWe all have our myths (worldviews). The House of Saud is in a fight for its very survival. This will be fascinating to watch, a country giving away its only commodity for $3/bbl (no typo). In fact, most recently it's being reported they can't even "give it away." Countries and refiners have simply run out of storage space. American consumers are lovin' it. Which reminds me, I need to check on price of gasoline in Oklahoma City. Thanks for taking time to write.
DeleteGasoline is still selling for 99 cents/gallon in Oklahoma City. It will be interesting to see if gasoline there goes for less than 90 cents/gallon.
DeleteBy the way, there was an interesting op-ed the other day reminding folks that no one ever thought natural gas would go to $0 (no typo) -- actually, it's actually gone negative in some cases -- and suggesting there's no reason crude oil couldn't go to $0, either. My hunch if oil goes to $0 (no typo), the Saudi minister of energy will say the country feels comfortable with $0 (no typo) oil. LOL.
...and you will say that the Bakken is still economic at $25/bbl. Maybe based off of touting non-representative cases, like the 15 wells out of 15,000+ hz wells that have passed 1 MM bo so far.
ReplyDeleteThat's right, less than 0.1% has a cum over 1MM. Oh...and 7 of those 15 are in the Red River, not the Bakken. But have fun making posts on the monster wells as if they were the average well.
You are quite correct. We've been talking about it since 2009. Actually, 2007, but I deleted the first two years of the blog because it was inadequately focused on the Bakken. Since then, sometime in 2009, there have been very few days when I haven't posted about the Bakken.
DeleteWith regard to the "monster wells," one might like to search "OXY" on the blog.
The first hit will likely be: https://themilliondollarway.blogspot.com/2010/12/seeking-alpha-on-oxy-in-bakken-north.html.
It's also important to note that I use "Bakken" as a metonym, a three-legged stool in this particular case.
See this post: https://themilliondollarway.blogspot.com/2016/11/way-behind-november-15-2016.html.
Again, thank you for writing. Brings back a lot of great memories, great posts.
And as I note frequently: I am inappropriately exuberant about the Bakken.
Delete