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	12/29/2021	12/29/2020	12/29/2019	12/29/2018	12/29/2017
Active Rigs	31	13	56	66	48

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;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2020	30	53105	52983	16649	86043	81734	1019
BAKKEN	10-2020	30	64940	65021	20539	85430	78456	3024
BAKKEN	9-2020	30	90389	89900	50636	119994	113142	1506
BAKKEN	8-2020	4	6355	5856	4005	8100	6358	1121