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Thursday, December 16, 2021

CRL Reports Seven DUCs Completed; Twelve Permits Renewed (MRO and Hess); MRO With Two New Permits -- December 16, 2021

Market:

  • FedEx: huge beat; FDX up $19; up 8%;
  • Rivian: loss of $12 / share; commits to second factory in Georgia; $5 billion plant; after reporting dropped another $4 / share after hour, after dropping $6 at the close; down 10% for the day (with after-market trading)
    • EV reservations jump almost 30% from 50,000 to 80,000
    • fell short of its 2021 production target of 1,200 vehicles
    • 3Q21:
      • operational loss of $775 million vs company's forecast of $745 million - $795 million;
      • net loss of $1.23 billion vs forecast between $1.21 billion and $1.28 billion
    • revenue: $1 million (market cap: $96 billion)
  • Kellogg: company and union reach tentative agreement; average pay for union worker: $120,000 / year;

Melissa: "Fast Money"

  • AAPL headed toward $157; if so, that would be a buying point, again
  • at least one trader/talking head seems anxious, angry, almost scared 

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

Active rigs: estimate only; based on NDIC end-of-day reporting; NDIC reports 32 active rigs, but one is a SWD rig; I did not check for duplicates:

$72.3812/16/202112/16/202012/16/201912/16/201812/16/2017
Active Rigs3114536753

Two new permits, #38702 - #38704, inclusive:

  • Operator: MRO
  • Field: Bailey (Dunn County)
  • Comments: 
    • MRO has permits for a Claude well and a Vernon well, both in NENE 30-146-93, 
    • to be sited 505 FNL and between 663 FEL and 703 FEL;

Twelve permits renewed:

  • MRO (7): all in Dunn County, but different pads, Alvina USA, Whitney USA, Reems USA, Millie USA, Pavlish USA, Terrel USA, and TR USA;
  • Hess (5): three AN-Double Bar V permits and two AN-Lone Tree permits, all in McKenzie County;

Seven DUCs reported as completed:

  • 37379, 1,220, CLR, Rodney 8-29H1, Cedar Coulee, first production, --; t--; cum--;
  • 38269, 949, CLR, Jenson 9-8H1, Chimney Butte, first production, --; t--; cum--;
  • 37410, 1,387, CLR, Rodney 12-29H, Cedar Coulee, first production, --; t--; cum--;
  • 37402, 1,405, CLR, Gale 11-32H, Cedar Coulee, first production, --; t--; cum--;
  • 38268, 1,438, CLR, Jenson 8-8HSL, Chimney Butte, first production, --; t--; cum--;
  • 37375, 1,910, CLR, Gale 7-32H, Cedar Coulee, first production, --; t--; cum--;
  • 37401, 1,062, CLR, Gale 10-32H1, Cedar Coulee, first production, --; t--; cum--; 

The Gene/Rodney wells are tracked here. I will update that site later.

I don't have a page for the Jenson wells but perhaps I may do that later. 

The comments I made regarding CLR and DUCs yesterday continue to hold true today. 

*********************************
MRO, Bailey Oil Field
And The Two Permits (see above)

The Bailey oil field is tracked here but has not been updated in a long time. It will be interesting to see the update. LOL.

Assuming the new wells, Claude and Vernon run south, there are already three active wells in that drilling unit:

  • 17255, original well drilled in 2008, thirteen years ago; and re-fracked in 2017, four years ago:
    • 465, MRO, Pelton 24-31H, t9/08;
    • 1,799, MRO, Pelton-24-31H, t4/17; cum 562K 10/21;
      • the well has produced 561,590 bbls of crude oil since it was first drilled; 
      • before the re-frack the well had produced 179,311 bbls of crude oil (over a period of 103 months;
      • after the re-frack the well produced 382,279 bbls of crude oil (over a period of 55 months)
      • after the well was re-fracked, it produced about twice as much oil in half the time that it produced prior to the re-frack
BAKKEN7-20173125626255912547718929147514540
BAKKEN6-2017241817718187196131325039107265
BAKKEN5-20173123337233662894817072108113582
BAKKEN4-2017787278599215625619763308
BAKKEN3-20170000000
BAKKEN2-2017820218440163934
BAKKEN1-20173189687520768831796
BAKKEN12-20162977175618760834711
BAKKEN11-2016308348651926433659
BAKKEN10-2016318638422066814021
  • 22332, 1,318, MRO, RH 34-31H, t9/12; cum 313K 10/21; 
  • 22333, 1,086, MRO, RH 34-31TFH, t9/12; cum 210K 10/21;

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