Same Ol', Same Ol' -- CLR Posts Two Nice Wells -- March 12, 2021

NOG: 4Q20 and full year 2020 results

• press release (some numbers rounded):
• 4Q20 production: 36K boepd; up 23% from 3Q20
• FCF: $80 million
• reduced debt;
• announced entrance into the Marcellus Shale;
• closed on seventh Permian acquisition since entry into the basin, September, 2020
• Zacks:
• EPS: 64 cents vs estimate of 67 cents
• compares to 50 cents one year ago

AAPL: dividend update.

BAC: dividend update. 

Shale giants proving OPEC right: Bloomberg via Rigzone. Headline quite misleading. But then again, it's a Bloomberg story. 

Shell game: going green? Not so fast. Shell's sprawling and secretive oil-trading unit almost doubled profitability year-over-year. Shell disclosed this data for the first time ever. One has to ask why? Why now? I think the answer is obvious.

Hike in federal onshore royalty rate: over at Rigzone. 

• from 12.5% to 18.75%
• would match the offshore rate
• like everyone else, the greenies may not like oil but they love the royalties;
  

Got oil? New Mexico not so green after all; seeks exemption from president that bans leasing on federal land. Not news. Sorry. Not sorry. Link here. 

Gasoline: fundamental set-up for summer gasoline is the most bulliish nearly a decade. Link here.

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Back to the Bakken

Active rigs:

$65.77	3/12/2021	03/12/2020	03/12/2019	03/12/2018	03/12/2017
Active Rigs	15	56	64	60	45

Two wells coming off the confidential list --

Friday, February 12, 2021: 7 for the month, 40 for the quarter, 40 for the year.

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 74K 1/21;
  

Wednesday, February 10, 2021: 6 for the month, 39 for the quarter, 39 for the year.

• 36732, F/A, CLR, Vardon 8-14H2, Siverston, first production, 8/20; t--; cum 113K 1/21;
  

The CLR Vardon wells are tracked here.  The Vardon well released earlier this week:

• 36732, F/A, CLR, Vardon 8-14H2, 33-053-09152, Siverston, first production, 8/20; t--; cum 113K 1/21; fracked 1/6/20 - 1/23/20; 10.5 million gallons of water; 89.3% water by mass; target: second bench target zone located between the Internal 1 and the Internal 2 shale. 28,734 over 22 days extrapolates to 39,183 bbls over 30 days:
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2021	31	13416	13428	10664	29771	29205	299
BAKKEN	12-2020	31	18445	18494	13022	38767	38007	512
BAKKEN	11-2020	30	16889	16837	14108	35937	34581	1116
BAKKEN	10-2020	31	16741	16724	16718	36361	35655	571
BAKKEN	9-2020	30	19063	19213	17874	35764	34829	809
BAKKEN	8-2020	22	28734	28491	18956	37160	32001	5159

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 74K 1/21;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2021	31	13513	13412	23400	9977	9570	0
BAKKEN	12-2020	17	6302	6358	13777	3392	3189	0
BAKKEN	11-2020	30	14127	14266	27737	8561	7301	868
BAKKEN	10-2020	25	7732	7712	17478	5264	4467	486
BAKKEN	9-2020	30	17916	17859	37582	11948	11276	279
BAKKEN	8-2020	19	14423	13994	27636	9380	9278	102

CLR's Jack wells are tracked here. 

Previously posted, February 12, 2021:

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 61K 12/20; fracked 2/11/20 - 2/20/20; 7.9 million gallons of water; 88% water by mass; compared to others, a lousy geology report:
  

• target: early Devonian Three Forks B1
• spud: 0130, October 6, 2019
• reached KOP: 1118, October 9, 2019
• lateral
• begun: 1930 hours, November 15, 2019,
• gas:ranged from 8- 8,361 units
• gas buster; flare: averaged 10 - 25' gas flare
• two hot zones
• Upper Marker (TF MRK1): 15' into the Three Forks
• second hot zone: ~ 20' into the Three Forks

RBN Energy: the economics and potential benefits of compressed natural gas.

ESG is quickly becoming one of the most frequently used acronyms in energy-company Zoom calls and quarterly earnings calls, joining the ranks of oldies-but-goodies like WTI, Bcf, and NGLs. Everyone — including investors — is pushing hydrocarbon producers, midstreamers, and end-users to improve their “environmental, social, and governance” performance nowadays. It’s not always easy, though, especially when the greener, pro-planet thing to do is a lot more expensive.

The good news is that there are at least a few potential win-win opportunities out there where companies can both reduce their carbon footprint and save money. In today’s blog we’ll discuss why, in some situations, CNG makes sense as a clean fuel for use as a potential replacement for diesel, propane, and fuel oil in a wide range of energy, mining, forestry, and utility settings.