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Wednesday, December 29, 2021

No New Permits; XTO Reports A Dry Hole Due To Cementing Issues; Re-Drilled -- December 29, 2021

US equities:

  • Dow and S&P 500 trading near all-time highs
  • Dow: intra-day high -- 36,571.55
  • S&P 500: intra-day high -- 4,804.06; apparently closed higher for the 70th time this year, 4,793.06.
  • individual equities of interest
    • AAPL: flat but slightly green
    • SRE: held above $131
    • UNP: closed near its 52-week high; recently raised dividend second time in one year;

Alex Kimani's three energy picks for 2022:

  • COP
    • BoA with a $67 price target;
  • Cenovus Energy
    • C$14.50 price target;
  • APA
    • many irons in the fire around the globe

BRK-B: 30% appreciation from one year ago.

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Back to the Bakken

Active rigs:

$76.62
12/29/202112/29/202012/29/201912/29/201812/29/2017
Active Rigs3113566648

No new permits.

Hess put a large number of old producing Madison wells on the "abandoned" list. 

Dry hole:

  • 35151, XTO, Bullberry Federal 24X-2D, Lost Bridge, will plug and abandon; cementing issues were encountered on the well. Re-drilled as the 24X-2DR (#35789); 
  • other wells on that pad, all drilled, but not completed:
    • 35789, SI/NCW, XTO, Bullberry Federal 24X-2DR, Lost Bridge,
    • 35150, SI/NCW, XTO, Bullberry Federal 24X-2H2, Lost Bridge,
    • 35154, SI/NCW, XTO, Bullberry Federal 24X-2G, Lost Bridge,
    • 35155, SI/NCW, XTO, Bullberry Federal 24X-2C, Lost Bridge,

A reminder: these wells are in the immediate vicinity of this well -- from an earlier post, note production in September, 2020, below.

MRO is on a roll. This is really quite incredible. Maybe more on this later, but for now, the well:

  • 32434, drl/NC-->4,679, MRO, Stillwell 21-13H, 33-025-03101, Lost Bridge, first production, 8/20; t--; cum 215K 9/20; fracked, 8/19/20 - 8/25/20; 7.9 million gallons of water; 81.2% fresh water by mass; 6.4% produced water by mass; production; note 90K in first full month of production; 215K in three months. Early in the boom, EURs of 300K were the expected; 403K 8/21; F;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20203053105529831664986043817341019
BAKKEN10-20203064940650212053985430784563024
BAKKEN9-2020309038989900506361199941131421506
BAKKEN8-20204635558564005810063581121

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