Week 23: May 31, 2020 -- June 6, 2020

Most under-reported story:

• The fake corona virus story coming out of Sweden; and, here;
• US crude oil production may be significantly less than being reported by the EIA;
• Russia's plummeting crude oil production;
• China's crude oil imports rebound to near-record high; and, here;

Top story of the week:

• US equity markets surge; and, here;
• Stunning jobs report;

Top international non-energy story:

• The luckiest man in the world; 
• Saudi Arabia's foreign exchange reserves continue to plummet;
• Saudi Arabia moves $40 billion in reserves to sovereign fund;

Top international energy story:

• China's crude oil imports rebound to near-record high; and, here;
• OPEC basket finally starting to move in the right direction;

Top national non-energy story:

• US equity markets surge; and, here;
• Stunning jobs report;
• Amazon;

Top national energy story:

• US distillate supply/demand mismatch at record levels;
• The flip: diesel less expensive than gasoline;

Top North Dakota non-energy story:

• Delta Air Lines to suspend air traffic to Williston's brand new airport;

Top North Dakota energy story:

• Land grab by the state (previously posted); see Geoff Simon's lead-off story; 
• The industry is still studying communication between wells due to fracking;

Geoff Simon's top ND stories:

• Leads off with: state owns river mineral rights; MHA nation says it will fight "illegal taking";
• NDIC recommends state funding to plug abandoned holes
• EERC making headway on gas storage
• WAWS has lots of pipeline jobs
• Southwest Water Authority needs more capacity; 760 potential customers on the waiting list
• Delta gets okay to suspend flights to Williston WXA
• ND Covid-19 cases are declining
• US states no longer have power to block pipelines
• EPA: final rule on CWA written to fast track natural gas, oil infrastructure (means nothing; will likely end up in appellate courts)

Operators:

• Nine Point Energy in Eightmile oil field;

Operations:

• Starting to see a trend toward more Three Forks wells; 
• Three CLR Hendrickson wells back on line;
• A Slawson Whitmore well goes off line;
• The dreaded Bakken decline -- the CLR Carus wells;
• Petroshale well trending toward 600K;
• BR's Merton/Jerome wells are monster wells;
• WPX Lion well with almost 300K in less than nine months;
• Random update of a Rimrock Maccasin Creek DUC;

Advantaged oil:

• Two MRO wells in Reunion Bay; 
• Fifty-fold jump in production -- Petro-Hunt, Charlson oil field;

500K oil:

• A CLR Cedar Coulee well goes over 500K in style;

Non-Bakken formations:

• Random update of a Madison well in Portal oil field;

Natural gas:

Commentary:

• A lot of work left to be done in the Bakken;
• For the high school graduate headed for college: which Apple laptop?
• An example of what the Bakken will look like going forward;
• Rigs don't matter;