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Wednesday, December 8, 2021

Slawson Reports Two DUCs Completed; Thirteen Permits Renewed; Ovintiv With Three New Permits; Enerplus With One New Permit -- December 8, 2021

Mind the gap: link here.

The estimated copper shortfall by 2030 looks even worse.

AMD / XLNX acquisition: one more milestone reached.

  • tea leaves: announcement that deal is closed will be early next week, maybe Monday
    • 1.7234
    • AMD up slightly at the close; down a bit after hour -- $145.24 --> $250 implied for XLNC
    • XLNX up 0.4% at the close; up 0.25% after hours -- $225
  • back of the envelope
    • delta: $250 - $225 = $25 / XLNX share
    • some assume, I suppose, after it's announced that the deal closes, AMD drops a big and XLNX jumps a bit
    • 25/2 = 12.50
    • 145.24 - 12.50 = $132.75
    • 1.7234 * $132.75 = $228 / sh XLNX
    • $132.75 / sh AMD

King of LNG: US to beat Qatar at its own game: link to Tsvetana Paraskova. A reader said as much just a couple of days ago. EIA forecast for el fin de 2022:

  • US: 11.4 bcf/d
  • Australia: 11.4 bcf/d
  • Qatar: 10.3 bcf/d

WTI: continues to creep up; up 31 cents today; now at $72.36.

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Back to the Bakken

Flaring targets: link here

Active rigs:

$72.36
12/8/202112/08/202012/08/201912/08/201812/08/2017
Active Rigs2916556453

Four new permits, #38690 - #38693, inclusive:

  • Operators: Ovintiv (Newfield) (3; Enerplus
  • Fields: Westberg (McKenzie); Heart Butte (Dunn)
  • Comments:
    • Enerplus has a permit for a Lob well in SWSE 31-149-92; 
      • to be sited 829 FSL and 2084 FEL, part of the "Tennis" pad?
    • Ovintive has permits for three Clear Creek Federal wells in SESW 36-152-97; 
      • the wells will be sited 295 FSL and between 2529 FWL and 2489 FWL; 

Thirteen permits renewed;

  • CLR (6): two Berlain permits in McKenzie County; two Olympia and two Charleston permits, all in Williams County
  • MRO (6): all in Dunn County -- Sallie USA, OTT USA, Ellis USA, CHdester USA, Borrud USA, and Bean USA;
  • BR: one Hawktail permit in Dunn County

Producing wells (DUCs) reported as completed:

  • 37423, 1,263, Slawson, Tempest Federal 2-14H, Big Bend; how coincidental: I noticed the wells were starting to produce earlier to today and posted here;
  • 37424, 294, Slawson, Orca Federal 3-23-26H, Big Bend, first production, 10/21; t--; cum --;

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