Saturday, May 16, 2020

A QEP Moberg Well To Reach 500K This Summer -- May 16, 2020

The well:
  • 22194, 1,248, QEP/Helis, Moberg 13-17/16H, Grail, t2/13; cum 497K 3/20;
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An Old MRO Well With A Nice Jump In Production -- May 16, 2020

The well:
  • 18253, 344, MRO, State Ralph Howard 31-16H, Bailey, t1/10; cum 367K 3/20;
Production: this well was drilled back in 2010. Look at the jump in production in 2015, five years later. There is no neighboring activity that would obviously affect this well. Hubbert's peak oil theory says this is not supposed to happen. Production period of interest:
BAKKEN5-20163149024941294631468081630
BAKKEN4-20163051165174356132651908630
BAKKEN3-20163155305606382235561950828
BAKKEN2-20162954055191318934509451759
BAKKEN1-201631613362253498398019461192
BAKKEN12-20153164536555656341176652582
BAKKEN11-20153063186410496939254692614
BAKKEN10-201531752971364890483310502791
BAKKEN9-20152959865980334438864152689
BAKKEN8-20153179048059435149618913042
BAKKEN7-2015318311838344735342204251
BAKKEN6-2015307337753638194717983656
BAKKEN5-201531129701253586078310196743
BAKKEN4-201521768279014393497004004
BAKKEN3-20153111524115466805741005995
BAKKEN2-20151062965993123239204772714
BAKKEN1-20150000000
BAKKEN12-2014123584551332710161
BAKKEN11-20143096291535171229401
BAKKEN10-201431972114740272416418
BAKKEN9-201430107092041877344434
BAKKEN8-20143090091743767041362
BAKKEN7-2014311078114143478383399

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 The Movie Page 

Looking forward to this movie. Release will be delayed from July, 2020, to October, 2020, due to Wuhan flu: "The French Dispatch." Looks fun. 

**************************************
Flathead Lake

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MRO Well In Bailey Oil Field With Huge IP -- Chapman 31-15H -- Old Well With 55-Fold Jump In Production -- May 16, 2020

The well:
  • 33325, 5,022, MRO, Chapman 31-15H, Bailey, t10/17; cum 362K 3/10;
Wanna see the neighboring well? Wow. This well was drilled back in 2008 -- look at the jump in production in 2017 -- Hubbert's peak oil theory says this is not supposed to happen. 28,683 bbls over 22 days extrapolates to 39,113 bbls over 30 days. 39,113 bbls / 700 bbls = a 55-fold jump in production. Production period of interest:
BAKKEN1-20193187158725750764395475222
BAKKEN12-201831933893878029828356021899
BAKKEN11-20183010383102979185915564331880
BAKKEN10-201826112021127210833990963312712
BAKKEN9-2018111819186418701846166626
BAKKEN8-20183111081110339680983189390
BAKKEN7-201831121571211910689104598965532
BAKKEN6-20183013283132611186199348482431
BAKKEN5-201831129531303910748902667531266
BAKKEN4-2018301664816633153901213060744097
BAKKEN3-2018312080720900218661273359154409
BAKKEN2-2018282259022465251761367672803814
BAKKEN1-20183126722267043313617924135201364
BAKKEN12-201727143711436918379833922724386
BAKKEN11-20173017493173452132795615057006
BAKKEN10-201722286832872755415237012043
BAKKEN9-20170000000
BAKKEN8-20170000000
BAKKEN7-20170000000
BAKKEN6-20170000000
BAKKEN5-2017589641058040
BAKKEN4-2017306616631485410292
BAKKEN3-201731691677149607135214
BAKKEN2-20172862364413754824667
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Two BR Mathistad Wells; 22B And 22A -- #33144 And #33146 -- Each Goes Over 500K Cumulative -- May 16, 2020

The BR Mathistad wells have been featured on the blog often.

Again. This Mathistad wells goes over 500K cumulative.

The well:
  • 33144, 318, BR, Mathistad 22A MBH, Croff, t10/17; cum 532K 3/20;
Completed back in 2017, look at recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-202031146241459949483149830777366
BAKKEN2-202029110151094654452987228802654
BAKKEN1-202031124161242954683836537038976
BAKKEN12-2019311705417103658952039516590
BAKKEN11-20193019959199186679489134847782
BAKKEN10-201929201082015957185239151732272
BAKKEN9-2019261996619938629551158484022320
BAKKEN8-20193030150299611000855119451639539
BAKKEN7-20190000000
BAKKEN6-201900800000
BAKKEN5-201988371845714881402378655968
BAKKEN4-20193031288312856201592102509133711

Another new Mathistad well, has also gone over 500K cumulative:
  • 33146, 273, BR, Mathistad 22B UTHF, Cross, t10/17; cum 532K 3/20;
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The Bakken Never Ceases To Surprise Me -- May 16, 2020

The well:
  • 25776, 3,043, Equinor, Bugs 27-22 7H, Poe, t7/14; cum 289K 3/20;
Full production here.

Production period of interest:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-20203145224577842755715338109
BAKKEN2-202029560963301718275827300166
BAKKEN1-2020316260555012963645551321199
BAKKEN12-201931509851661625465555916515
BAKKEN11-201918403736472098439463171747
BAKKEN10-20191211569267067
BAKKEN9-2019002210000
BAKKEN8-20192722252204253886718210357
BAKKEN7-20193119371964256348684476268
BAKKEN6-2019302133214325554965483114
BAKKEN5-2019312444252426634435428233
BAKKEN4-2019241950183021103033286168
BAKKEN3-2019312612280028554593443633
BAKKEN2-2019282532231625553584339775
BAKKEN1-2019313154314332123969377570
BAKKEN12-20181819761818268317311452207
BAKKEN11-201800900000
BAKKEN10-2018201484159720823318316268
BAKKEN9-20183023952365316250834614349
BAKKEN8-201831254425043581478746576
BAKKEN7-2018312521273428964056391517
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Natural Gas -- Futures -- May 16, 2020

Disclaimer: this is not an investment site. Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.



On the other hand, link here:

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More Evidence That Saudi Is In Deep Trouble -- Along With Kuwait, Shutting Down A Field That Might Supply 0.5 Percent Of World's Entire Oil Supply -- May 16, 2020

Updates

Minutes later, 4:39 p.m. CT; -- exactly what I said an hour ago -- there's a bigger story here --


Minutes later, 4:32 p.m. CT -- this story is getting a lot of re-tweets over at twitter.
Most interesting: "analysts" are missing the big story here. They're focusing on the 100,000 bopd production. That's not the story. The question not (yet) being pursued -- why this particular field at this particular time? A hundred thousand bopd is the proverbial drop in the bucket for Kuwait/SA combined production. Fifteen million bopd. Hundred-K / 15,000-K = 0.7%.
Minutes later, 4:14 p.m. CT -- it's now being reported in Reuters --
Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month, starting from June 1, Kuwait’s Al Rai newspaper reported on Saturday. 
of the OPEC+ group of oil producers to cut output in a bid to reduce a glut in global supplies. Both Gulf states have also said they would make additional cuts beyond the agreed curbs.  
Someone is in serious, serious trouble. Or someone is tired of giving away their lifeblood to China, the same folks who released Wuhan flu and screwed everything up for Saudi Arabia.

Original Post

Disclaimer: I was quite distracted while writing this note. There may be content and typographical errors. If this is important to you, go to the source. 

Hello, possums, to steal a word from Dame Edna, if you have been following the Khafji oil field, owned and operated jointly by Saudi Arabia and Kuwait, this is quite a story.

A huge story.

To bring you up-to-date, from oilandgas360, just a few months ago, February 2, 2020:
Saudi Arabia and Kuwait have started preparation work to resume crude oil production from the Al-Khafji oil field jointly operated by the two countries, with initial output expected around the end of February (2020), two industry sources said. Saudi Arabia and Kuwait, both members of the Organization of the Petroleum Exporting Countries (OPEC), agreed last year to end a five-year dispute over the area known as the Neutral Zone, allowing production to resume at two jointly run fields that can pump up to 0.5 percent of the world’s oil supply.
More at the link, but one assumes a lot of time and effort went into bringing this field into joint production after five years of dispute. Can you believe it, this field was discovered in 1960?

So, this field was discovered in 1960, closed five years ago for "environmental reasons," under dispute since then, and finally, after billions of riyals invested, I assume, some fifty years later, with great fanfare, pomp and circumstance, Kuwait and Saudi Arabia make a huge announcement just a couple of months ago: "Hey, we're going to re-open this huge field under joint operation!"

Inshallah.

Now, this .... drum roll .... from Twitter, less than an hour ago:


More from the oilandgas360 link:
Output is expected to reach 175,000 bpd from Al-Khafji and 145,000 bpd from Wafra after a year of restarting the fields, the official said. 
Kuwait newspaper Al-Rai reported on Sunday that production at Al-Khafji will start by the end of February and that testing of oil and gas pipelines and facilities has already begun. 
Al-Khafji is operated by Al-Khafji Joint Operations Co., a joint venture between Kuwait Gulf Oil Company and AGOC, a subsidiary of Saudi Aramco. It had been producing between 280,000 bpd and 300,000 bpd of Arabian Heavy crude before its closure in 2014 for environmental reasons.
"Environmental reasons" .... in the Mideast? LOL.

Halting oil production just three months after all the hoopla? Apparently Allah wasn't willing.

One wonders if there might be a whole lot more to the back story -- why it was decided to (apparently) completely shut down production. Certainly there were other options. I think there is much, much more to the story.

*******************************************
Speaking Of Possums
and
Practicing Homeopaths

Dame Edna
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Updating Sweden -- The Meme Exposed -- May 16, 2020

Reminder: St Greta is the new authority on how to contain Wuhan flu. This should be a hoot.

First things first: we called this a couple of week ago. See this post.  Re-posting:
Yesterday I posted this:
Sweden and Wuhan flu: Sweden is getting a lot of positive press about how that country handled the coronavirus. When one actually sees the data, one gets another impression. If one has time to read only one article on Wuhan flu today, this would be the article. 
This is the meme: Sweden won the argument.
Now, today, from Breitbart (https://www.breitbart.com/europe/2020/05/16/poland-labels-swedens-coronavirus-policy-darwinian/): Poland labels Sweden's coronavirus policy 'Darwinian.'

For those unfamiliar with the metonym, "Darwinian" in this case refers to "survival of the fittest." Poland is suggesting that Sweden simply let things go with regard to Wuhan flu to cull out the herd; establish "herd immunity" quickly; and, get past "this" as quickly as possible. Whether the country's goal was to have "better" statistics than the rest of the world, I don't know. I doubt this was some kind of international, Olympic-style competition. Whatever.

But the mainstream media picked up on this and the meme became Sweden "won the contest."

In fact, Sweden did not, by criteria set by the mainstream press:


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The Oasis Aagvik Wells In Banks Oil Field Have Been Updated -- May 16, 2020

The Aagvik wells are tracked here.

Look at the jump in production in one of those wells.

The well:
  • 17986, 501, Oasis, Aagvik 5298 1-35H, Banks, t12/09; cum 237K 3/20;
Production (note: 3,680 bbls over 7 days extrapolates to 15,771 bbls over 30 days):
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-20203114171256215511093107830
BAKKEN2-20202914841806148211040107500
BAKKEN1-20202815071126880978995090
BAKKEN12-20199162183440199219020
BAKKEN11-2019281022362804106861
BAKKEN10-201924349496730250522650
BAKKEN9-20193021632261272410946106460
BAKKEN8-201931135211962431983395230
BAKKEN7-2019311255149325501015798470
BAKKEN6-201930187617112405981095100
BAKKEN5-201912660563825341932890
BAKKEN4-20193011474117861040645836455360
BAKKEN3-2019311451714326110354604445734310
BAKKEN2-20192813631136161079242137352426615
BAKKEN1-20197368033563350981159313810
BAKKEN12-20180000000
BAKKEN11-20180000000
BAKKEN10-20180000000
BAKKEN9-20180000000
BAKKEN8-20180000000
BAKKEN7-201824470559100102875632
BAKKEN6-20182052658701274105222
BAKKEN5-20180000000
BAKKEN4-20181535429119094277517
BAKKEN3-2018318168691802176184224
BAKKEN2-2018215766000144912390
BAKKEN1-201831785899240185515450
BAKKEN12-201731666597130166813580
BAKKEN11-201730792921170204417440
BAKKEN10-201731866571140210417940
BAKKEN9-201729478837120138510950
BAKKEN8-201731665321170200417040
BAKKEN7-2017319181120325275824580
BAKKEN6-2017301068893440294926490
BAKKEN5-20173111391356330294626360
BAKKEN4-201720585563120147212720
BAKKEN3-20172267156399182216020
BAKKEN2-201723825829430277825480
BAKKEN1-20173112771479700367433640
BAKKEN12-201620797567431207318730
BAKKEN11-20162037831914511089080
BAKKEN10-201630580526415185818580
BAKKEN9-2016308601043450335530550
BAKKEN8-201631929838559355432440
BAKKEN7-20163110221104515380334930
BAKKEN6-201617812605440240522350
BAKKEN5-201629894108748533902999101
BAKKEN4-20163010451180515342531250
BAKKEN3-2016311070982505323429240
BAKKEN2-201629932948275278124910
BAKKEN1-201631109190651033242891123
BAKKEN12-2015301023123534533902974116
BAKKEN11-20153097289236532062793113
BAKKEN10-201531106612005072932256062
BAKKEN9-201530102691336038913286305
BAKKEN8-2015311083942525387835680
BAKKEN7-201531117513334644404399995
BAKKEN6-20153012341284595452629131313
BAKKEN5-2015251349135643035962699647
BAKKEN4-201530178919406954812468854
BAKKEN3-201543950026774123
BAKKEN2-20151100500
BAKKEN1-2015143297241008517880
BAKKEN12-2014311183152631033583104114
BAKKEN11-20143010936172903405323040
BAKKEN10-201431118912523773688351740
BAKKEN9-2014291149921300359934680
BAKKEN8-20142810351015282223821120
BAKKEN7-20143111621121400376936290
BAKKEN6-201430114516573223560339431
BAKKEN5-2014311195932330383536950
BAKKEN4-2014301204977334373636010
BAKKEN3-20143112971945382390837680
BAKKEN2-20142811791091422360034740
BAKKEN1-20143115781572577446143210
BAKKEN12-201319888412265230023000
BAKKEN11-20133012751387515401338780
BAKKEN10-20133113441252512412939890
BAKKEN9-20133012801208557424941140
BAKKEN8-2013301370150265544814146200
BAKKEN7-20133113501418633469545550
BAKKEN6-20132813591444710467045440
BAKKEN5-2013311788219169755225182200
BAKKEN4-2013968832213317611464256
BAKKEN3-20133114531278443453043900
BAKKEN2-2013281423159844051564209821
BAKKEN1-2013311599156441857934685968
BAKKEN12-20123116881285530611649451031
BAKKEN11-20122712951548373435142290
BAKKEN10-20123115991534572543752970
BAKKEN9-20123015481575488551853830
BAKKEN8-20123116531605618592657860
BAKKEN7-2012311641180754759455546259
BAKKEN6-20123016291688633617260370
BAKKEN5-20123118091849588686267220
BAKKEN4-2012301771143757764165871410
BAKKEN3-201231204822151082731571750
BAKKEN2-20122917991759467521650850
BAKKEN1-20123120683092553571555750
BAKKEN12-20113119761117498457444340
BAKKEN11-20113019911796538592857930
BAKKEN10-2011312285327763074126662650
BAKKEN9-2011262119194661076727117455
BAKKEN8-20112824992604805919190910
BAKKEN7-201122338325401192922990940
BAKKEN6-20119562112532145113900
BAKKEN5-2011293020326548769015998511
BAKKEN4-20115657088110001000
BAKKEN3-2011161116121231050964651345
BAKKEN2-20112828033102720917877281350
BAKKEN1-20113129503016488815861081950
BAKKEN12-20103129002690533782554002325
BAKKEN11-20103030872908692777655162160
BAKKEN10-20103133493695800790744823325
BAKKEN9-201027437937731007849683960
BAKKEN8-2010594210681424003000
BAKKEN7-20103138744037940953394330
BAKKEN6-201026418643241090979796970
BAKKEN5-20102744204613111410550104500
BAKKEN4-20103050935033114011174110740
BAKKEN3-20103161295871143214915148150
BAKKEN2-20102867986724154516000159000
BAKKEN1-2010311006410224235521148210480
BAKKEN12-2009291233112084300216962168620
BAKKEN11-200910197615511639455544550
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