The well:
- 33153, 524, BR, Croff 6-1-2 UTFH, Croff, t11/17; cum 546K 8/20;
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 8-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 7-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2020 | 0 | 0 | 195 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2020 | 25 | 17049 | 17109 | 9233 | 26333 | 25839 | 0 |
| BAKKEN | 3-2020 | 30 | 15631 | 15429 | 7217 | 18786 | 18177 | 297 |
| BAKKEN | 2-2020 | 6 | 2738 | 2788 | 1391 | 3869 | 3706 | 0 |
| BAKKEN | 1-2020 | 28 | 8823 | 8725 | 3359 | 11767 | 9854 | 1464 |
| BAKKEN | 12-2019 | 14 | 501 | 497 | 278 | 1321 | 935 | 0 |
| BAKKEN | 11-2019 | 6 | 54 | 88 | 72 | 426 | 200 | 0 |
| BAKKEN | 10-2019 | 19 | 4263 | 4266 | 2535 | 12944 | 7488 | 5297 |
| BAKKEN | 9-2019 | 8 | 3453 | 3449 | 2067 | 10995 | 8463 | 2371 |
| BAKKEN | 8-2019 | 11 | 5491 | 5604 | 2814 | 14106 | 10614 | 3215 |
| BAKKEN | 7-2019 | 31 | 15526 | 15570 | 7169 | 50158 | 49463 | 456 |
| BAKKEN | 6-2019 | 30 | 19423 | 19491 | 8457 | 50796 | 47325 | 3222 |
| BAKKEN | 5-2019 | 31 | 27249 | 27059 | 13152 | 50096 | 33134 | 16641 |
| BAKKEN | 4-2019 | 16 | 13025 | 13068 | 5587 | 25339 | 6422 | 18655 |
| BAKKEN | 3-2019 | 28 | 14124 | 14223 | 3541 | 28216 | 17738 | 10156 |
| BAKKEN | 2-2019 | 28 | 17883 | 17833 | 6661 | 22252 | 22045 | 0 |
| BAKKEN | 1-2019 | 31 | 25610 | 25612 | 8486 | 26890 | 26606 | 0 |
| BAKKEN | 12-2018 | 22 | 20722 | 20744 | 6167 | 20191 | 19913 | 0 |
| BAKKEN | 11-2018 | 30 | 29185 | 29199 | 9288 | 29616 | 29518 | 0 |
| BAKKEN | 10-2018 | 31 | 28483 | 28621 | 9050 | 30685 | 30590 | 0 |
| BAKKEN | 9-2018 | 30 | 26609 | 26436 | 9096 | 31922 | 31669 | 0 |
| BAKKEN | 8-2018 | 31 | 30223 | 30311 | 11410 | 43408 | 43306 | 0 |
| BAKKEN | 7-2018 | 31 | 25517 | 25423 | 11648 | 44154 | 44059 | 0 |
| BAKKEN | 6-2018 | 30 | 28596 | 28660 | 12198 | 43158 | 43067 | 0 |
| BAKKEN | 5-2018 | 31 | 28517 | 28505 | 13349 | 43199 | 43092 | 0 |
| BAKKEN | 4-2018 | 30 | 27733 | 27693 | 10560 | 42607 | 42442 | 0 |
| BAKKEN | 3-2018 | 31 | 23679 | 23597 | 10141 | 38413 | 38315 | 0 |
| BAKKEN | 2-2018 | 27 | 20726 | 20773 | 8887 | 28207 | 28072 | 0 |
| BAKKEN | 1-2018 | 28 | 27990 | 28055 | 10369 | 11310 | 11211 | 0 |
| BAKKEN | 12-2017 | 8 | 23727 | 23680 | 7336 | 32348 | 32252 | 0 |
| BAKKEN | 11-2017 | 1 | 13383 | 13230 | 3423 | 13696 | 12655 | 958 |
| BAKKEN | 10-2017 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interesting investor call with Scott Sheffield of Pioneer. He said the last 4 investable US independents, above $10B market cap would be PXD, EOG, COP, and HES.
ReplyDeleteFWIW, I checked several stocks like DVN, CLR, APA, MRO, and they were all below $10B. (OXY is slightly above, still.)
Very, very nice note. Thank you. Yes, economy of scale -- $10 billion seems to be the break point.
DeleteMaybe for the wrong reasons, but I keep thinking CLR is going to do something one way or the other, get bought out or buy something.
Amazing to see COP in that mix of HES, PXD, and EOG.
That reminds me: I have forgotten to post that PXD will buy Parsley: https://www.wsj.com/articles/pioneer-natural-resources-to-buy-parsley-energy-for-4-5-billion-11603224139.
They are a little strange, given the ownership situation. I don't see them buying anything given oil prices and their own debt problems. I'm not sure who would want to buy them but I guess HES or XOM might make sense in terms of still having interest in Bakken. They'd pick up the OK assets too of course, which gives no synergies, but they are decent assets.
ReplyDeleteThe biggest problem is the debt load for CLR. Assets are decent. Debt is kind of a big pill hiding inside the hamburger though.
One idea might be some sort of merger of equals with MRO. But I'm not sure MRO would step aside for Hamm and not sure he would be OK with MRO running things. But very nice match in OK and ND. But neither has the horsepower for a cash offer.
Agree completely. I keep forgetting CLR's debt. You are correct. I'm looking at it from an "irrational" point of view -- I just keep looking at Harold Hamm's personality and think that he's looking for one last "hurrah" before he calls it a day.
Delete