Monday, April 27, 2020

Advantaged Oil -- CLR's Putnam -- East Fork Oil Field -- April 27, 2020

The well:
  • 27049, 1,189, CLR, Putnam 1-25H, East Fork, t3/14; cum 429K 2/20;
Full production profile here.

Production period of interest, the 11,979 over 22 days extrapolates to over 16,000 bbls over 30 days:

BAKKEN10-201931268128687495430303904
BAKKEN9-20193031502888113544511804026
BAKKEN8-201931250927361323144777833283
BAKKEN7-20193117671573121042064141634
BAKKEN6-201925928902100621429451067
BAKKEN5-2019301368013825445271241896912335
BAKKEN4-201922119791167440141104329884300
BAKKEN3-20190000000
BAKKEN2-20190000000
BAKKEN1-201918178221921823189116750
BAKKEN12-20183132683388339245573791360

Advantaged Oil -- CLR's Patterson Federal -- Camp Oil Field -- April 27, 2020

The well:
  • 25189, 1,246, CLR, Patterson Federal 2-13H, Camp, t5/14; cum 410K 2/20;
Drilled back in 2014, recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2020193034288466164351409510
BAKKEN1-20203113054131321964018858184390
BAKKEN12-20193119814202222801427534261141001
BAKKEN11-201930191361867033860261542567475
BAKKEN10-20191428622717633927561846795
BAKKEN9-2019100010100
BAKKEN8-20190000000
BAKKEN7-20190000000
BAKKEN6-20190000000
BAKKEN5-20190000000
BAKKEN4-20192013381400129323641962147
BAKKEN3-2019312430245316655006454740
BAKKEN2-201928233924771594469543190
BAKKEN1-201931264126042026527948600

Full production here.

Neighboring well recently fracked:
  • 34846, 777, CLR, Patterson Federal 8-13HSL1, Banks, t11/19; cum 91K 2/20;
Full production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2020282073920742241613051829952566
BAKKEN1-2020312073020962241322901828895123
BAKKEN12-2019312466924959261323420333929274
BAKKEN11-20193020374200292492625542255411
BAKKEN10-20191139683564837953805262118
BAKKEN9-2019542942921964510451

Social Distancing On American Airlines -- April 27, 2020

Link here.

But our barbershops remain closed.

And then there was this:


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The Travel Page

Updates

Last week or thereabouts I was reading a biography of Wyndahm Lewis where I came across the Bay of Fundy. A day later I was reading Fortey's book on evolution and came across the Bay of Fundy again. Had I not been reading the Wyndahm Lewis biography I would have completely missed the Fortey reference. That was last week or thereabouts. Now, of all things, I'm sitting her watching TCM, 3:00 p.m. CT, May 3, 2020, and out of the blue, a little vignette on Nova Scotia and a fairly lengthy segment on the Bay of Fundy. Truly amazing.

Original Post

The Bay of Fundy.
Sail down the St Croix River, which forms part of the border between Maine, US / New Brunswick, Canada, sail through the Passamaquoddy Bay, and then make a hard turn to port, on a 45° heading, to enter the Bay of Fundy, located between New Brunswick to the west-northwest and Nova Scotia to the east-southeast.
Link here.
The Bay of Fundy is one of the 7 wonders of North America. The highest tides on earth, the rarest whales in the world, semi-precious minerals and dinosaur fossils; all this convinced an international panel of experts in 2014 to choose the Bay of Fundy as one of the natural wonders of the world. 
From wiki: The average tidal range worldwide is about 3 feet 3 inches. The tidal range in the Bay of Fundy is about 43 feet.
Tides are semidiurnal, meaning they have two highs and two lows each day[2] with about six hours and 13 minutes between each high and low tide. Some tides are higher than others depending on environmental conditions.
Because of tidal resonance in the funnel-shaped bay, the tides that flow through the channel are very powerful. In one 12 hour tidal cycle, about 110 billion short tons of water flows in and out of the bay, which is twice as much as the combined total flow of all the rivers of the world over the same period.
For the Bay of Fundy whales, see this link.

Lime Rock With Two New Permits -- April 27, 2020

OPEC basket: down almost a dollar -- closed at $14.31. Tracked here.


Active rigs:

$12.964/27/202004/27/201904/27/201804/27/201704/27/2016
Active Rigs3064624827

Two new permits, #37537 - #37538, inclusive --
  • Operator: Lime Rock Resources
  • Field: Fayette, Murphy Creek
  • Comments: 
    • Lime Rock has permits for a two well pad located in SESE section 13-143-96; one well will run into Fayette oil field, and the other into Murphy Creek; both are 255 feet from the south line; about 1200 feet from the east line;
One permit renewed:
  • 27898, conf, CLR, Jersey FIU 16-6H, Alkali Creek
Approved for confidential status:
  • Whiting (4): #34916, #36464, #36465, #36775
  • Enerplus (3): #35966, #35967, #35970 
  • Hess: #36671

Focus On Fracking Has Been Posted -- April 27, 2020

Link here for April 27, 2020, blog.

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For The Grandchildren

Flathead Lake, Montana:


From the Mission View Homeowner's Association, near Lakeside, MT, Flathead Lake:


North Dakota Monthly Oil Production

Link here.


At $2.25 / Gallon, 80 Years To Recover Premium Paid For EVs -- Wired -- April 27, 2020

Before we get started, Gas Buddy:
  • Wisconsin: 89 cents/gallon
  • Louisiana: $1.07
  • Oklahoma City: 99 cents/gallon
  • Dallas, TX: $1.07

Earlier it was announced that Daimler's Mercedes-Benz was getting out of the hydrogen fuel cell business after 30 years of research. The company said the concept worked but it was too costly, and it was not scalable. Automobile companies need sales, not politically-correct glossy PR ads.

But that company statement about hydrogen being too costly and not scalable, that raises the question about EVs.

From wired, March 19, 2020:
Electric vehicles, which are more expensive than their gas-powered and hybrid counterparts, also could suffer if consumers become more tight-fisted. “There remains a significant price premium for an EV compared to an internal-combustion vehicle, and cheap gas only extends the payback time,” Abuelsamid says.
The hybrid Kia Niro, he notes, starts at $23,000 for the base model and gets 50 mpg.
The 240-mile range Niro electric costs $31,000 after the federal tax credit. At the current national average gas price of $2.25 gallon (and given the electricity costs of powering the electric Niro), he says, it would take 80 years to recover the $8,000 premium from energy savings alone.
I don't know anyone paying $2.25 / gallon of gasoline in my neck of the woods, closer to $1.09/gallon. 

By the way, I don't know if folks are watching but subscription rates for magazines across the board seem to be plummeting.

Wired on line just went from a ridiculously low $10 annual subscription to an even-more ridiculously low $5 annual subscription.

Rates are so low for New York Review of Books I went back and subscribed again. My first issue arrived yesterday; now I know why I canceled it in the first place, but having said that, there were a couple of essays that were passable.

In the stack of "stuff to do" on the Stickley end table is an offer to subscribe to London Review of Books, also at a ridiculously low price.

But no, I will never, never, ever subscribe to The New Yorker again -- I would love access to the archives, but the current editorial staff has lost its way.

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Back To EVs

What a great blog! LOL.

The other day I noted that the number of EV charging units nationwide (US) had gone flat / stale.

Now, today -- well, yesterday, to be technically correct -- InsideEVs posted this story: the lack of urban charging points must be addressed more quickly; not everyone can charge their cars at home.

LOL.

I've said that for years. Forty percent of Americans do not own their own home. Among the sixty percent that do own their own home, a huge number must park curbside for some reason or another. Maybe as many as 60% of the American driving population cannot charge their automobiles at home.

Let's see what the linked article has to say:
Things are gradually looking up for these folks: a growing number of apartment complexes are installing EV chargers, and various states and municipalities are updating laws and building codes to make it easier for tenants to get chargers installed. Companies like EVmatch are developing solutions that help landlords and employers provide charging to tenants and employees.

However, there many souls who are still out of luck, as they lack not only driveways or garages, but any assigned parking spaces at all. In cities from New York to London to Beijing, many car owners have to take whatever parking they can find on the street each day, and regular charging options for them are few or non-existent.

This dilemma has been discussed in the EV press for some time, and it’s starting to make its way into the mainstream media. A recent article in the New York Times describes the “charging deserts” that have replaced range anxiety as the main deal-killer that dissuades city slickers from going electric.

Natural Gas Surprise This Winter? -- RBN Energy -- April 27, 2020

Bloom and gloom: I used to follow Bloom Energy fairly closely years ago, then lost interest when it appeared to be going nowhere. I happened to speak with an engineer who was acquainted with the technology and had actually toured the plant. For some reason, out of the blue he asked if I had ever heard of Bloom. Of course, I had. Later, I googled Bloom to see if there were any updates.  Wow, jackpot! Forbes investigation, published just a couple of months ago; one of the longer articles I've seen in Forbes. Link here. Archived. And what Motley Fool thinks.


Natural gas: could be a surprise this winter. See RBN Energy below. Natural gas fill rate, link here.


Natural gas: anecdotal -- I spoke to an individual in the natural gas arena over the weekend -- said the same thing.

ET: asks permission to turn pipelines into oil storage. ArgusMedia.

OPEC basket: $15.23.  Was $14.31 last Friday.

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Back to the Bakken

Active rigs:

$13.424/27/202004/27/201904/27/201804/27/201704/27/2016
Active Rigs3064624827

Three permits coming off confidential list over the weekend, Monday --

Monday, April 27, 2020: 40 for the month; 40 for the quarter, 284 for the year:
Sunday, April 26, 2020: 39 for the month; 39 for the quarter, 283 for the year:
  • 37007, SI/NC, Crescent Point Energy, CPEUSC Chase Douglas 1A-32-29-159N-100W MBH, Blue Ridge, no production data, 
Saturday, April 25, 2020: 38 for the month; 38 for the quarter, 292 for the year:
  • 36903, drl, PetroShale, Hickok Federal 1MBH, Bear Den, 
RBN Energy:Appalachian E&Ps' shares soar on forecasted associated gas decline. Archived.
COVID-related demand destruction and the oil price meltdown have engulfed energy markets and companies in a thick, pervasive shroud of doom and gloom. But investors and analysts have hit upon a potential bright spot for one segment of the industry: Gas-Weighted E&Ps that had been battered by the decade-long shift of upstream capital investment to crude-focused resource plays. The massive cutbacks in 2020 capital investment by oil producers triggered by the recent, dramatic decline in refinery demand for crude will reduce not only oil output, but associated gas production as well. That drop in supply raises the prospect of meaningful increases in natural gas prices in 2021 –– hence Wall Street’s new interest in Gas-Weighted producers, whose equity values have taken off in recent weeks after a big plunge earlier this year. There’s a lingering concern though, namely that LNG exports — a key driver of gas demand for U.S. producers — may be slowed by collapsing gas prices in key international markets. Today, we discuss what’s been going on. 
Over the past few years, associated gas production from the Permian, Bakken, Eagle Ford and other basins drove total supply growth that outpaced record growth in U.S. natural gas demand. The resulting imbalance steadily eroded Henry Hub prompt gas futures pricing to a recent low in the mid-$1.50s/MMBtu — a level not seen since 1995. The impact on the publicly traded Gas-Weighted E&Ps we track was dramatic, with the share prices of producers such as Range Resources, Southwestern Energy and Antero Resources plunging more than 95% through first-quarter 2020, from their 2013-14 highs. However, since April 1, share prices of the eight significant U.S. Gas-Weighted E&Ps — all Appalachia-focused — have risen sharply, with six of them more than doubling in price over the three-week period.