Monday, July 13, 2020

Twenty Permits Renewed; No New Permits -- July 13, 2020

Active rigs:

$40.107/13/202007/13/201907/13/201807/13/201707/13/2016
Active Rigs1156675930

No new permits.

Twenty permits renewed:
  • Hess (9): three EN-Kiesel permits in Mountrail County; six SC-JW Hamilton permits in Williams County;
  • CLR (5): three Morris permits and two Carson Peak permits, all in McKenzie County; the scout tickets show these permits at PNC, so it's nice to see them renewed; the CLR Carson Peak/Morris wells are tracked here;
  • XTO (4): four Twin State Federal permits in McKenzie County
  • Petro-Hunt (2): one USA permit and one Louis Tully Federal, both in McKenzie County
This is the sixth (business) day in a row that twenty or more permits were renewed. Last week a record 118 permits were renewed.

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A CLR Carson Peak Well That Has Gone Over 500K Bbls Crude Oil

The well, note -- this is a second bench Three Forks well:
  • 35081, 3,556, CLR, Carson Peak 8-35H2, Oakdale,  t5/19; cum 503K 5/20; 70K well; production profile; 52 stages; 14.2 million lbs; 
Production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-202031266852670794614176141205149
BAKKEN4-202028238512386679512951428319934
BAKKEN3-20203131548315151037434724293585155
BAKKEN2-2020252312323129853323440190584221
BAKKEN1-2020312303223092778824143228471115
BAKKEN12-2019312605926081973228697268721531
BAKKEN11-20193027355273291017928958243464290
BAKKEN10-201931306143058911237269021459611993
BAKKEN9-20193028746287691116729551232835952
BAKKEN8-20193140595406271596240748337636632
BAKKEN7-20193155133551352245954834473777043
BAKKEN6-201930506865083822437461913490010757
BAKKEN5-20193169314693743308774737660747832
BAKKEN4-20191544172437551728147768419335379
BAKKEN3-20190000000
BAKKEN2-20190000000
BAKKEN1-20195189618963138142401424
**************************************
A CLR Carson Peak Well That Has Likely Gone Over 500K Bbls Crude Oil

The well:
  • 35272, 3,376, CLR, Carson Peak 4-35HSL, Oakdale, t6/19; cum 485K 5/20; huge well; see this note;
Production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-202031399824004076036927468352247
BAKKEN4-2020284028240311782161240587601939
BAKKEN3-202031542915422410515760776431911295
BAKKEN2-2020253747537504766743876356737901
BAKKEN1-2020314105841092889945559431142103
BAKKEN12-2019313578335772916439931373922130
BAKKEN11-2019303190631870726630733258394553
BAKKEN10-20193134680346688246288891567412878
BAKKEN9-2019303559135588936934781274037006
BAKKEN8-20193142880428761202940905338946657
BAKKEN7-20193147954479321488947232408086067
BAKKEN6-20192038292381371162832326244247528

Posted by at

8 comments:

  1. AnonymousJuly 13, 2020 at 5:14 PM

    Shaleprofile.com has typical early nd report. Down below 0.85 in may.

    ReplyDelete
    Replies
    1. Bruce OksolJuly 13, 2020 at 5:40 PM

      Yes, I've updated literally 100's of wells, and it's going to be ugly. It turns out ND Bakken operators took their wells off line in May, not April. So there's going to be a huge drop.

      What I'm waiting to see is whether these wells were shut in (all the way to zero) or open one or two days with minimum production. But it's going to be fascinating.

      Delete
    2. Bruce OksolJuly 13, 2020 at 5:49 PM

      The EIA "dashboards" show this drop in production occurred across the three major oil plays (Eagle Ford, Permian, and Bakken) in May but a strong recovery in June.

      Folks who have followed the Bakken for a long term know that we are in the "manufacturing" stage. The boom was over a long, long time ago. We moved from the "boom stage" to the "manufacturing stage" time long ago. I vividly remember when that was predicted by one of the leading spokesmen in Williston a year or so before it actually happened.

      So, among other things, in the "manufacturing stage," operators are managing their assets; reacting to market conditions; dealing with black swans (like shutting down the DAPL, Covid-19); and maintaining tens of thousands of wells.

      Assuming the world continues to use oil for the next few decades, western North Dakota is probably in a "good place." Not everyone would agree with that.

      Delete
    3. Bruce OksolJuly 19, 2020 at 5:56 PM

      Shaleprofile.com was pretty close. Preliminary data from NDIC:

      May, 2020, preliminary: 858,395 bopd.

      "Final" production number will be released next month.

      Delete
  2. AnonymousJuly 13, 2020 at 10:19 PM

    Will Art Berman write the Bakken off again? He did it in early 2016 and they came back and hit records a few years later.

    P.s. Some of those CLR half million in a year wells are uh-mazing. Of course you get the wrong idea by just reading the monster wells here instead of looking at average wells. On average, CLR is sort of...average. Not one of the highest average wells like MRO or QEP.

    ReplyDelete
    Replies
    1. Bruce OksolJuly 14, 2020 at 7:22 AM

      What amazes me is how different the wells can be in a geographic area as small as the ND Bakken. Hut unlike conventional drilling, there are "no" dry holes in the Bakken. LOL. I remember writing that years ago, and certainly got a lot of feedback. LOL.

      Delete
  3. MikeJuly 13, 2020 at 10:57 PM

    Will see. My Slawson check came in at $8/brl. Lowest amount ever. After the negative crash I thought I might end up owing them! :-)
    Hoping it bounces back fast.

    ReplyDelete
    Replies
    1. Bruce OksolJuly 14, 2020 at 7:24 AM

      The invoice from Slawson for the money you owe them may be in the mail. LOL. Seriously, hopefully everything turns out well.

      Delete

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