Week 35: August 23, 2020 -- August 29, 2020

Top stories of the week:

• ND Supreme Court rules in favor of family over state re: minerals;
• Federal government loan to pay city's portion of new airport;
• Bakken labor force near all-time high;
• North Dakota's $38 million lawsuit against US Army COE allowed to proceed;

The other top story of the week:

• Hurricane Laura; and, here; and, here;

Economic story of the week:

Most surprising graphic of the week:

• US EV sales;

Top international non-energy story:

• Mideast countries (and Cuba) backed into a corner;
• Saudi's crude oil exports drop to lowest on record;
• Saudi: definition of insanity;

Top international energy story:

• World oil demand recovering at record pace -- Rigzone;
• Saudi Arabia's oil revenues plunge;
• Saudi Arabia's oil exports to US surge;

Top national non-energy story:

• Consumer sentiment index greater than expected;
• Mortgage applications hit another record; home sales surging; and, here;
• Dow 30 makeover;
• Annual United Van Line movers report;

Top national energy story:

• US natural gas power generation hits record; and, here;
• US oil exports to China soar 139% in July, 2020; US oil exports to China may set record next month;
• Gasoline demand flat-lined;

Geoff Simon's top North Dakota energy stories:

• Hwy 83 northwest bypass work to begin in Minot;
• ND is receiving $34.4 million of additional federal funding for transportation projects; this is the largest amount ND has ever received in additional funding from the government's annual redistribution process; sort of like Christmas in July;
• Public hearing proposed Williston NE Truck Reliever Route scheduled; route from Highway 1804 east of Williston to the intersection of "2 & 85" north of Williston;

Top North Dakota non-energy story:

Top North Dakota energy story:

• Bakken oil production slowly returning;
• Active rigs in ND back down to ten;

Operators:

• MRO hitting on all cylinders in Reunion Bay: huge IPs; and, here; anticipates 18 wells on one drilling unit;
• Equinor: to quit drilling in the Bakken; permits; mixed messages;
• KODA Resources; and, here;
• OXY to sell non-core mid-continent assets for $1.3 billion;
• BR looks to have 15 wells on one drilling unit;

Operations:

• CLR wells goes over 500K in two years;
• Staggering: XTO well -- 470K bbls crude oil in one year;
• Updating a huge XTO well -- 400K bbls in crude oil in one year;

Advantaged oil:

Natural gas:

• The Bakken is back! Natural gas transmission (with ten rigs, no less);

Pipelines:

• North Dakota approves two in-state pipelines;
• Regional pipelines = regional economic growth;

Bakken 101:

• State-owned minerals valued at $1.45 billion;
• How crazy are the Bakken wells?

Bakken economy:

EVs:

• Global EV sales have slowed -- McKinsey;

Commentary:

• Observations on wells coming off confidential list;
• The NBA re-brands itself; and, here;
• Covid-19: what happened in New York? The DOJ wants to know.
• Covid-19: ND update;
• Covid-19 and lockdowns: The WSJ;