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Friday, March 12, 2021

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.


*********************************

Back to the Bakken


Active rigs:

$65.77
3/12/202103/12/202003/12/201903/12/201803/12/2017
Active Rigs1556646045

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2021311341613428106642977129205299
BAKKEN12-2020311844518494130223876738007512
BAKKEN11-20203016889168371410835937345811116
BAKKEN10-2020311674116724167183636135655571
BAKKEN9-2020301906319213178743576434829809
BAKKEN8-20202228734284911895637160320015159
  • 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 74K 1/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202131135131341223400997795700
BAKKEN12-2020176302635813777339231890
BAKKEN11-20203014127142662773785617301868
BAKKEN10-202025773277121747852644467486
BAKKEN9-2020301791617859375821194811276279
BAKKEN8-20201914423139942763693809278102

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.

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