Two Wells Coming Off Confidential List -- June 3, 2021

Fast and furious.

Feature story: the economic recovery is here; unlike anything you've seen;

• The Wall Street Journal;
  

Nukes: Bill Gates, Warren Buffett to put first "next generation reactor" in Wyoming;

• hopefully this will go better than their failed health care initiative.

Saudi Arabia: readies $5 billion bond to fund huge dividend; link to Charles Kennedy;

• annual dividend: $75 billion
• almost $20 billion quarterly
• $5 billion hardly seems enough;

Pipeline expansion:

• KMI plans $1.2 billion northeast expansion;
• KMI will acquire Stagecoach Gas Services LLC
• $1.225 billion
• Stagecoach: a joint venture between Consolidated Edison and Crestwood Energy Partners
• four natural gas storage facilities:
• three pipelines
• 185 miles of pipeline
• storage capacity of 41 billion cubic feet
• $1.225 billion / 185 miles = $6.7 million / mile
• pipelines interconnect o major interstate gas pipelines, including:
• KMI subsidiary Tennessee Gas Pipeline (TGP)
  
• TGP carries natural gas from Louisiana, GOM, south Texas to the northeast
  

Merger:

• Southwestern goes all in on gas production with $2.7 billion Haynesville acquisition;
• link here;
• previously posted;

MDU:

• MDU pipeline: FERC certificate for ND natural gas pipeline project; press release;
• WBI Energy, the pipeline subsidiary of MDU;
• North Bakken Expansion project
• expansion project to transport 250 million cubif feet of natural gas per day from the Bakken
• 62 miles of 24-inch natural gas pipeline
• 20 miles of 12-inch natural gas pipeline
• a new compressor station
• $260 million
• 260/82 = $3.2 million / mile of pipeline
• entry: new Elkhorn Creek compression station, southeast of Watford City
• runs pretty much NNE to Portal, ND, on Canadian border
• map at this link; previously posted;
• by the way, this was huge; see SeekingAlpha note;
  

Amazon:

• IMDb TV: fast-growing free, ad-supported side of Amazon's streaming business;
• IMDb TV and Twitch: tops 120 million monthly viewers;
• how big a deal is this? makes The Wall Street Journal; Judge Judy moves to IMDb TV;
  

Discovery-Warner Bros:

• new name, new logo;
• Warner Bros Discovery: the stuff that dreams are made of.

Culture: retrospective on nation's first building built specifically as a mosque;

• the nation's first, not just the first in the state
• site: Ross, ND, a few miles west of Stanley, ND;
• link here; and, link here;

Historians state the Ross community also had the oldest known Muslim group for organized prayer in America.

The primary ethnic group in that area came from Syria, starting with a pioneer named Hassen Juma, who settled on 160 acres in 1899. Nearby was Sam Omar, and by 1902, 20 other families had followed their path from Bire (Berrie) and Rafid, Syria.

In 1929, the residents built a Jumah mosque which is said to be the nation’s first. Accounts differ, but it’s generally agreed that other Muslims around the country organized their mosques in rented spaces. The mosque at Ross is said to be the first built specifically as a house of worship.

The building itself was not an attractive one. It was long and low, sunk into the ground. There’s a reason for this; it was intended to be the basement of a structure yet to come. Unfortunately, the depression hit soon after it was built, and the transformation never happened. The building was used as late as the 1960s – by then, intermarriage had led many to join Christian churches.

Whatever happened to the refinery proposed for Trenton? Now something new.
link here;

• conditional use permit approved by Williams County commissioners
• plant would produce 100 million gallons of renewable fuels per year
• source: soybean and canola oil
• 87-acre parcel in Buford Township
• near Savage Service's Trenton rail port
• SAFuels X Production Facility
• facility to be built by AIC Energy Corporation, owned by John F. Melk, Las Vegas, NV
• SAFuels X: recently received a $221,000 grant from ND Agricultural Products Utilization Commission
• in aviation fuel mode, the product would be a blended 1:1 plant:mineral jet fuel; would meet all criteria for existing military jets without need to change the aircraft
• still needs DEQ review and approval
• incoming vegetable oil feedstocks and outgoing jet fuels will arrive/depart via Savage Services;
• aviation fuel: 70 rail cars/day
• diesel: 35 rail cars/day
• initial capacity: 10 rail cars/day of incoming vegetable oil, or about 273,000 gallons per day (at 42 gallons per bbl = 6,500 bbls/day

Blue hydrogen:

• North Dakota could be largest, lowest cost producer of blue hydrogen in North America;
• link here;
• previously posted;
• twitter link here;
• previous post;
  

Brent: $71.42. 

Tacky: is it just me or is it time to move on with regard to fashion? By the way, in the past year, have we ever seen any of these guys wearing masks?

**********************************
Back to the Bakken

Active rigs:

$68.86	6/3/2021	06/03/2020	06/03/2019	06/03/2018	06/03/2017
Active Rigs	20	12	64	60	51

Two wells coming off the confidential list: Thursday, June 3, 2021: 40 for the month, 61 for the quarter, 142 for the year:

• 37521, drl/NC, WPX, Dakota 1-36HB, Mandaree, first production, 4/21; t--; cum 33K 4/21;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2021	28	33278	33246	18823	27712	24010	0
BAKKEN	3-2021	3	81	0	128	9	0	0

• 37376, drl/NC, CLR, Rodney 5-29H, Cedar Coulee, no production data;
  

RBN Energy: E&Ps post strong profits as pandemic-impacted oil and gas prices rebound.

Nearly 300 million COVID vaccine doses have been administered in the U.S., and normal life is returning to public places across America. Actual fans are replacing cardboard facsimiles in ballpark seats, corner pubs and corner offices are filling up, and family gatherings now feature hugs instead of half-inch squares on a Zoom screen. And another powerful antidote, in the form of higher oil prices, has spurred a significant revival in the fortunes of the pandemic-battered upstream oil and gas industry. The spring-of-2020 crude oil price crash hit the E&P sector like a tsunami, shattering capital and operating budgets, upending drilling plans, eviscerating equity valuations, and raising concerns about whether some companies could generate sufficient cash flow to keep the lights on. Remarkable belt-tightening allowed most producers to survive, and the swift rise of oil prices beginning last fall dispelled the COVID clouds.  But the recovery in profitability and cash flow generation was slow. Today, we review the dramatic surge in E&P profits and cash flows in the first quarter of 2021.