Just thinking out loud.
No inside information. No one has sent me anything in the way of comments, thoughts, etc.
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Breaking News
The New York Times reports that “Roughly 33,000 workers at news companies in the U.S. have been laid off, been furloughed or had their pay reduced. Some publications that rely on ads have shut down.” And it seldom gets better than this:
NPR Warns of Major Cuts Due to Coronavirus
NPR doesn't accept advertising dollars? I'm not quite sure why the pandemic would affect their budget. One would think in a national crisis like this, the most-respected mainstream media outlet would be the most-listened-to outlet and the most financially solvent news outlet in the US. I don't get it.NPR will be instituting severe cost-cutting measures as a result of the coronavirus pandemic, according to a Wednesday internal memo, with a budget deficit looming as high as $25 million through fiscal 2021. . .
Earlier this afternoon I called one of the best seafood restaurants in our area, asked if they had any crawfish for sale. They said they were down to their last four pounds; I ordered two. When I went down to pick up the crayfish -- Sophia went with me -- the manager said they ended up selling out their crawfish for the day. Awesome? How awesome is that!
It was an incredibly beautiful day. A young couple was at the sidewalk table area enjoying their own seafood dinner. It was a most surreal scene -- something one might see in a Twilight Zone episode. The street completely empty of traffic, stores closed, and this one seafood restaurant open, and Sophia and I picking up mudbugs. I told Sophia that someday she might remember all this.According to some internet source:
The average person eats 3 lbs. of boiled crawfish, which equals approximately 6-8 oz. of meat.Personally, I doubt there is that much meat in a pound of crawfish. I would estimate 2 to 4 ounces of meat in two pounds. And that might be generous. LOL. But what a great experience. A great experience but definitely not as tasty as lutefisk swimming in melted butter. With lefse. And Swedish meatballs.
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 23709 | 28184 |
1-2020 | 26382 | 21471 |
12-2019 | 31690 | 13164 |
11-2019 | 37352 | 0 |
10-2019 | 11679 | 0 |
Some rough, inaccurate - yet illustrative - numbers involving these Kraken wells ... 300, 000 barrels @$50 brings $15 million gross revenue in a little over 4 months. $25/barrel brings in $7 1/2 million gross for 3 wells, first ~4 months.
(The Red and White wells could have restricted output in February by the looks of it).
Close proximity of 3 wells portends lowered overall cost - relatively speaking - for drilling and completion. Two middle Bakken, 1 Three Forks wells, it seems. [That is correct.]
If these wells are shallower (data available shortly?), then overall costs will be lower yet. [Data will be available later this week.]
The details from these 3 wells could be far more important than an initial, cursory view might indicate. This scrappy, private little outfit (like Slawson and a few others) may offer glimpses into future shale development throughout the country.
Microscopically examining 'fringe' areas of various shale plays, these little outfits will put up their own money - incorporating best, cutting edge practices - to either succeed or go 'down' valiantly trying in their efforts to economically extract hydrocarbons. Your characterization - accurate and yet, possibly, understating the potential ramifications - of this Burg field as Tier 2/3 holds enormous, exciting future possibilities.
Can you imagine Kraken's discussions if (when?) WTI hits $75/bbl? These types of scenarios - planning/evaluations of Tier 2/3 areas - are playing out on the fringes of the Permian, Appalachian Basin, and probably other more mature shale plays. T
hese Kraken guys - and these 3 wells in particular - bear close watching in future months, IMHO. [Great note; this will be fascinating. I do not forget the original estimates of OOIP (original oil in place in the Bakken) and the percent of likely primary production.]
Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare | |
---|---|---|---|---|---|---|---|---|
BAKKEN | 2-2020 | 29 | 13600 | 13827 | 28020 | 16306 | 0 | 15929 |
BAKKEN | 1-2020 | 31 | 24352 | 24332 | 45879 | 28488 | 0 | 28040 |
BAKKEN | 12-2019 | 31 | 36073 | 36220 | 72204 | 41267 | 0 | 40822 |
BAKKEN | 11-2019 | 27 | 22301 | 21893 | 56176 | 25513 | 0 | 25160 |
BAKKEN | 10-2019 | 11 | 3895 | 3703 | 31146 | 4051 | 0 | 3919 |
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 2-2020 | 24 | 9641 | 9858 | 16749 | 12305 | 0 | 11991 |
BAKKEN | 1-2020 | 31 | 20158 | 20176 | 38049 | 26979 | 0 | 26533 |
BAKKEN | 12-2019 | 30 | 32332 | 32750 | 59318 | 33076 | 0 | 32642 |
BAKKEN | 11-2019 | 26 | 30320 | 30239 | 72120 | 31018 | 0 | 30684 |
BAKKEN | 10-2019 | 11 | 15145 | 14398 | 69597 | 14979 | 0 | 14850 |
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 2-2020 | 29 | 20622 | 20695 | 38317 | 27242 | 0 | 26866 |
BAKKEN | 1-2020 | 31 | 22855 | 22689 | 53594 | 26855 | 0 | 26405 |
BAKKEN | 12-2019 | 30 | 21707 | 21988 | 61410 | 24311 | 0 | 23874 |
BAKKEN | 11-2019 | 28 | 20573 | 20281 | 88915 | 23042 | 0 | 22677 |
BAKKEN | 10-2019 | 11 | 5359 | 5095 | 27331 | 5429 | 0 | 5297 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 20125 | 28085 |
1-2020 | 25412 | 33559 |
12-2019 | 35753 | 44210 |
11-2019 | 47242 | 44589 |
10-2019 | 28062 | 21731 |
Date | Oil Runs | MCF Sold |
---|---|---|
1-2020 | 234 | 0 |
12-2019 | 16552 | 19215 |
11-2019 | 46654 | 43225 |
10-2019 | 37386 | 27970 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 29377 | 52720 |
1-2020 | 35493 | 43431 |
12-2019 | 45008 | 53618 |
11-2019 | 71949 | 67237 |
10-2019 | 7038 | 4758 |
The Wave Hudson 1-32 spud on October 23rd, 2019 by Key 885 to drill the surface and vertical hole. The well reached total depth in 10 total drilling days on November 2nd, 2019. After not observing the channel sand interval suggested by seismic data, Wave decided to plug the well with the possibility of reentry under better economic conditions to exploit the porous interval noted in E-Logs.
File No | CTB No | API No | Well Type | Well Status | Status Date | DTD | Location | Operator | Well Name | Field |
---|---|---|---|---|---|---|---|---|---|---|
37068 | 3300701919 | Confidential | NESE 32-138-100 | Wave Petroleum Operating, LLC | HUDSON 1-32 | WILDCAT |
Wave Petroleum Operating, LLCBy the way, an update on the Lourdes well, #22223 -- that was a re-entry well into the Tyler formation. The lateral was not drilled to planned "depth" (length) due to "hole conditions" -- sundry form received by NDIC on October 29, 2019. The operator, Medora Minerals, requested a hearing for the December, 2019, NDIC hearing dockets. I do not know the results of that hearing, or if it was even heard. The well is current TA and not produced any significant oil since it was first drilled back in 2012 as a Madison, and then re-entered in 2014, targeting the Tyler. Four laterals were attempted. Operator would like to assess economic viability of the "sand" in which the horizontal(s) are located.
- first mentioned October 9, 2019
- new operator in the Bakken
- drilling a wildcat, #37068, in southwest North Dakota; likely targeting the Madison
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 21751 | 11554 |
1-2020 | 14723 | 10161 |
12-2019 | 19467 | 14142 |
11-2019 | 19727 | 11690 |
10-2019 | 1847 | 981 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 23709 | 28184 |
1-2020 | 26382 | 21471 |
12-2019 | 31690 | 13164 |
11-2019 | 37352 | 0 |
10-2019 | 11679 | 0 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 29377 | 52720 |
1-2020 | 35493 | 43431 |
12-2019 | 45008 | 53618 |
11-2019 | 71949 | 67237 |
10-2019 | 7038 | 4758 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 20353 | 11013 |
1-2020 | 15972 | 11770 |
12-2019 | 13216 | 10450 |
11-2019 | 16013 | 10078 |
10-2019 | 5932 | 2691 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 13511 | 13676 |
1-2020 | 17766 | 16093 |
12-2019 | 23288 | 9366 |
11-2019 | 22735 | 0 |
10-2019 | 6810 | 0 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 13827 | 0 |
1-2020 | 24332 | 0 |
12-2019 | 36220 | 0 |
11-2019 | 21893 | 0 |
10-2019 | 3703 | 0 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 9858 | 0 |
1-2020 | 20176 | 0 |
12-2019 | 32750 | 0 |
11-2019 | 30239 | 0 |
10-2019 | 14398 | 0 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 20695 | 0 |
1-2020 | 22689 | 0 |
12-2019 | 21988 | 0 |
11-2019 | 20281 | 0 |
10-2019 | 5095 | 0 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 16017 | 54782 |
1-2020 | 24418 | 58250 |
12-2019 | 37294 | 57086 |
11-2019 | 36787 | 49201 |
10-2019 | 21005 | 23727 |
Date | Oil Runs | MCF Sold |
---|---|---|
2-2020 | 20125 | 28085 |
1-2020 | 25412 | 33559 |
12-2019 | 35753 | 44210 |
11-2019 | 47242 | 44589 |
10-2019 | 28062 | 21731 |
Date | Oil Runs | MCF Sold |
---|---|---|
1-2020 | 234 | 0 |
12-2019 | 16552 | 19215 |
11-2019 | 46654 | 43225 |
10-2019 | 37386 | 27970 |
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 2-2020 | 29 | 11767 | 11750 | 28150 | 15410 | 9997 | 5007 |
BAKKEN | 1-2020 | 31 | 13390 | 13393 | 33537 | 13678 | 10203 | 3041 |
BAKKEN | 12-2019 | 31 | 13378 | 13337 | 39019 | 12524 | 10012 | 2078 |
BAKKEN | 11-2019 | 22 | 6587 | 6527 | 24049 | 7529 | 5997 | 1224 |
BAKKEN | 10-2019 | 0 | 0 | 0 | 2767 | 1129 | 820 | 71 |