The Enerplus Daffy Duck Pad

The wells:

• 34440, 1,084, Enerplus, Mallard 148-93-20B-29H-TF, McGregory Buttes, t4/19; cum 504K 6/21; cum 576K 5/22; cum 598K 12/22;
• 34439, 627, Enerplus, Daffy 148-93-20A-29H, McGregory Buttes, t4/19; cum 410K 6/21; cum 462K 5/22; cum 382K 12/22;
• 34438, 619, Enerplus, Muscovy 148-93-20A-29H-TF, McGregory Buttes, t4/19; cum 483K 6/21; cum 527K 5/22; cum 561K 12/22;
• 34437, 927, Enerplus, Canvasback 148-93-20B-29H, McGregory Buttes, t4/19; cum 240K 6/21; cum 279K 5/22; cum 299K 12/22;
  
• 34436, 156, Enerplus, Dewey 148-93-20B-29H-TF, McGregory Buttes, t4/19; cum 137K 6/21; cum 178K 5/22; cum 198K 12/22;
  
• 34435, 1,103, Enerplus, Scrooge 148-93-20B_29H-TF, McGregory Buttes, t4/19; cum 339K 6/21; cum 369K 5/22; cum 384K 12/22;
  
• 34434, loc, Pintail, middle Bakken; still on loc status, 7/22;
• 34433, loc, Scaup, Three Forks; still on loc status, 7/22;
• 34432, loc, Widgeon, middle Bakken; still on loc status, 7/22;
  
• 20883, 724, Enerplus, Hans 20-21H, McGregory Buttes, t4/12; cum 395K 6/21; cum 407K 5/22; cum 416K 12/22;
  

20883, jump in production:

BAKKEN	11-2019	30	3600	3608	1617	1800	518	1009
BAKKEN	10-2019	30	5187	5253	2170	3169	2697	0
BAKKEN	9-2019	29	8900	8878	5348	4736	3455	0
BAKKEN	8-2019	30	8107	8056	5644	5179	5086	0
BAKKEN	7-2019	6	2322	2373	1360	1523	1506	0
BAKKEN	6-2019	28	9456	9377	32790	5866	5780	0
BAKKEN	5-2019	2	816	874	4617	613	608	0
BAKKEN	4-2019	0	0	0	0	5	0	0
BAKKEN	3-2019	0	0	0	0	0	0	0
BAKKEN	2-2019	0	0	0	0	0	0	0
BAKKEN	1-2019	0	0	0	0	0	0	0
BAKKEN	12-2018	1	26	394	26	12	0	8
BAKKEN	11-2018	12	1289	1273	412	645	2	612
BAKKEN	10-2018	3	831	721	156	416	165	244
BAKKEN	9-2018	2	621	689	252	311	4	305
BAKKEN	8-2018	11	299	397	117	149	100	41
BAKKEN	7-2018	6	735	617	307	368	283	75
BAKKEN	6-2018	20	704	729	307	456	421	0
BAKKEN	5-2018	31	1096	1027	425	786	731	0
BAKKEN	4-2018	29	916	932	734	458	251	158

Initial production back in 2012:

BAKKEN	9-2012	29	7318	7236	1829	2730	2730	0
BAKKEN	8-2012	31	8301	8268	2063	3768	3768	0
BAKKEN	7-2012	31	10305	10335	2965	5997	5997	0
BAKKEN	6-2012	29	12524	12886	4105	6589	6589	0
BAKKEN	5-2012	31	20026	19615	9838	8054	8054	0
BAKKEN	4-2012	6	2125	1745	4233	1275	0	1275

Infill Density -- Section Line Wells -- Leaving No Barrel Of Oil Behind -- November 18, 2020

I assume this is fairly common and I've simply missed other examples, but it's my experience that there is generally just one well along a section line but today I noted that Hess has permits for three wells along the same section line. When I get caught up I will take a closer look, but for now:

• 37977, loc, Hess, EN-Joyce-LE-156-94-1721H-6, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 749 FWL;
  
• 37978, loc, Hess, EN-Joyce-LE-156-94-1721H-5, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 782 FWL;
  
• 37979, loc, Hess, EN-Joyce-LE-156-94-1721H-4, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 815 FWL
  

Graphic:

When the going gets tough, the tough get going. Hess, CLR, BR. 

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Monthly Haircut

CLR With Six New Permtis; Four DUCs Reported As Completed; Hess Has Another Nice Well -- November 18, 2020

Reaching herd immunity?
 

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Back to Oil

Active rigs:

$41.58	11/18/2020	11/18/2019	11/18/2018	11/18/2017	11/18/2016
Active Rigs	15	55	63	56	38

Six new permits:

• Operator: CLR
• Fields: Westberg (McKenzie); Elidah (McKenzie)
• Comments:
• CLR has permits for a six-well Clear Creek pad in NWNW 26-152-97;
• the wells will be between 220' FNL and 490' FNL and between 1018' FWL and one foot over, to 1019' FWL

Four producing wells completed:

• 36952, drl/A, WPX, Spotted Wolf 7-6HD, Eagle Nest, no production data,
• 28152, drl/A, Hess, BW-Spring Creek-149-99-1201H-5, Cherry Creek, t--; cum 34K in 30 days;
• 32413, SI/A, CLR, Polk Federal 11-33H, Banks, no production data,
• 32412, SI/A, CLR, Polk Federal 12-33H1, Banks, minimal production data,

Four permits canceled:

• EOG (2): two Wayzetta permits in Mountrail County;
• Slawson: one Goblin Federal well in Mountrail County
• Enerplus: one Cesium permit in Dunn County

Breaking Up Is Hard To Do -- Just Ask Boris Johnson -- November 18, 2020

Breaking Up Is Hard To Do, Neil Sedaka

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EIA's November "Dashboards" Posted -- November 18, 2020

EIA dashboards:

• EIA pdf, Bakken: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf
• EIA, pdf, Permian: https://www.eia.gov/petroleum/drilling/pdf/permian.pdf
• EIA, pdf, Eagle Ford: https://www.eia.gov/petroleum/drilling/pdf/eagleford.pdf

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From Twitter Today

This tweet was quickly deleted from Twitter. Apparently, subtracting "8" from 21,500 is difficult. 

One Well Coming Off Confidential List Today -- November 18, 2020

Gasoline demand, link here:

Weekly EIA petroleum report, link here.

• US crude oil in storage increased by 0.8 million bbls;
  
• US crude oil in storage now stands at 489.5 million bbls, about 6% above the already-fat-five--year average;
  
• refiners operating at 77.4% of their operable capacity;
• distillate fuel inventories decreased by 5.2 million bls last week but are still 11% above an already-fat-five-year average;
  
• US crude oil imports averaged 5.3 million bopd, down by 245,000 bopd from the previous week; the four-week average is about 13% less than same four-week period last year;
  
• jet fuel supplied was down 39.8% compared with same four-week period last year

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Back to the Bakken

Active rigs:

$41.73	11/18/2020	11/18/2019	11/18/2018	11/18/2017	11/18/2016
Active Rigs	15	55	63	56	38

Slawson: well, this is interesting. Back to two active rigs. 

One coming off confidential list today  -- Wednesday, November 18, 2020: 23 for the month; 47 for the quarter, 712 for the year

• 36462, drl/A, Hess, EN-Ruland-156-94-3328H-5, Manitou, t--; cum 65K 9/20;
  

RBN Energy: a tough year for crude oil slows pipeline development to a crawl. 

Bombarded by COVID-related demand destruction and weak — sometimes dismal — crude oil pricing, producers have been pulling in their horns this year, and midstream companies have been doing the same. A number of major pipeline projects have been delayed, scrapped, or simply removed from midstreamers’ slide-deck presentations, having failed to garner the long-term shipper commitments they needed to remain viable in this era of retrenchment and fingers-crossed-we-survive. Even with the 2020 pullback in pipeline development, at least a couple of major production areas — the Permian and the Bakken — may well end up with considerably more takeaway capacity than they will need for the foreseeable future. Today, we discuss the oil pipeline projects that have stalled or died this year, and the ones that have managed to move forward despite it all.

Fast And Furious -- Fifteen Minutes -- November 18, 2020

First things first: Duolingo valued at $2.4 billion; only 4% are paying customers; WSJ. 

Boeing: 737 Max to be recertified today?

Shale oil: top companies to watch. XOM, CVX, COP, EOG, Pioneer Natural Resources, OXY, CLR.

XOM: it's newest, deepest well in Guyana disappoints; not economical. Link here. 

New Mexico: trimming budget as oil downturn hits. Interesting what is not said. 

Equinor: to boost output from top North Sea oilfield (Sverdrup): capacity hits 500,000 bopd; link here.

China: oil binge to run on into 2021; refiners stocking up; link here.

Apple: M1 MacBook Air and MacBook Pro -- biggest leap in years -- WSJ; link here;

Apple: CarPlay update.

Apple: to drop App store fees from 30% to 15% for all developers making under $1 million. Link here.

Honda: looking to re-design its Honda Civic; appeal to younger buyers; keep price in $20,000 range;

Soybeans: new $12/bushel; US farmers doing very, very well. Link here.

Lumber: demand for new fences meets a nationwide lumber shortage -- WSJ; link here. 

Retail: Walmart adding "pop-up" centers for online holiday sales. WSJ; link here. Sounds good, but why wouldn't you just have Amazon deliver your purchase for free?

Denmark: folks don't like the idea of "forced vaccinations." Link here. They may not like it but it will happen. But it will be voluntary. LOL. 

Pfizer: now that the competition has a vaccine that is 95% effective, Pfizer announces it's own vaccine is also 95% effective. Exactly on the mark: 95%. Not 95.4% or 95.1% but exactly 95%. 

Stuck? Are we stuck in a new trading range? 29,500 - 30, 500? 

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