Week 6: February 7, 2021 -- February 13, 2021

Damn the torpedoes, and full speed ahead:

• CLR has just completed eighteen wells in Elm Tree;   
• CLR's thirty Dennis / Flint Chips permits; another six Flint Chips permits; here; here; here; and, here;
• Closer look at CLR permits over 24 hours;
• The CLR Jack wells;
• Thirty-five permits renewed;

Top story of the week:

• US markets: three major indices hit all-time highs;

Most interesting North Dakota energy story all week:

• The Williston Herald's story on Equinor selling assets to Houston-based company; archived.

Top international non-energy story:

• Saudi Arabia's financial situation continues to deteriorate; but Biden will get this turned around;
  
• 100 million people globally wear an Apple Watch; new Apple chips;
  
• An EV for the masses;
• Daimler splits off its truck division;
• Trucks massively out-selling cars;
• Plastic use surging;
• Super Bowl LV data points;
• Global warming: fake narrative;
  

Top international energy story:

• Brent top $60; WTI flirts with $60;
• Total pivots to green energy and LNG;
• Tectonic splits;
  

Top national non-energy story:

• Going head-to-head;
• Despite Covid, Disney blows past forecasts;
• Apple accounted for 12% of all chips sold last year;

Top national energy story:

• Natural gas spikes;
• California "woke";
• Off-shore wind: huge debacle;
• Oil demand talk back in fashion;
• Judge halts huge COP project in Alaska;
  

Top North Dakota non-energy story:

Top North Dakota energy story:

• Equinor to sell Bakken assets;
• Equinor selling Bakken assets to company led by former Oasis VP; link to Williston Herald;

Geoff Simon's top North Dakota energy stories (archived):

• MHA Nation urges the Corps to keep DAPL running;
• legislation addresses straddle wells: laterals sited outside the reservation but laterals penetrate the reservation (I must be missing something; why wouldn't MHA get those royalties?)
• ND crude oil output drops slightly in December, 2020; not unexpected;
• judge delays hearing on DAPL, link here;
• ND oil prices surge and output stalls as DAPL's fate awaited; Reuters;
  

Rigs:

• Back to rig counts;
  

Operators:

• MRO will report two huge wells in Reunion Bay;
• Kraken reports huge Hobart / Black Federal wells in Oliver oi field;
• Hess reports two more nice wells in the Bakken;
  

Operations:

• Directional legs for five MRO wells in the Antelope-Sanish have been drilled;
• The XTO Werre Trust wells back on line;
• Enerplus' "Precipitation Pad" wells starting to report runs;
• Enerplus Honor well returned to production;
• Production update for a lengthened Petro-Hunt Charlson well;
• CLR reports another huge Siverston well;
  

Wells:

• Enerplus Monarch well has just gone over 500K bbls;
• Oasis Oyloe well has gone over 500K bbls;
  

DUCs:

• Has anyone noticed how few completed DUCs are being reported?

Fracking:

• Bullish on frackers: Forbes;

Pipelines:

• US Army asks for two-month delay on DAPL;
• Speaking with forked tongue;

An XTO Werre Trust Well Has Gone Over 500K Bbls Crude Oil Cumulative -- February 12, 2021

The XTO Werre Trust wells are tracked here.

Recently off line, the Werre Trust wells are back on line. These are very nice wells. One well has gone over 500K bbls cumulative crude oil:

• 32500, 2,717, XTO, Werre Trust Federal 14X-34AXD-N, Bear Creek, t5/18; cum 574K 12/20; off line 11/19; remains off line 2/20; back on line 7/20;
  

***************************************
Probably The Most Posted YouTube Video On The Blog

Seems fitting considering the winter storms hitting the US this weekend.

California Dreamin', The Mamas and the Papas
When I was on temporary duty to northern Yorkshire, England, back in 2002 - 2004, after work, I would go for long, long walks almost every night well after dark. Most nights I would pass the same small Anglican church; the doors were always open; absolutely dark; no lights -- and I would feel my way along the pews -- to the front of the small church -- and sit in the front row for an hour or so and meditate ... this song always takes me back to those nights ...

" ... stopped into a church I passed along the way. Well, I got down on my knees and I began to pray --  you know the preacher liked the cold; he knows I'm gonna stay ..."

[From another site: Michelle Phillips said she wrote some of the lyrics for this song, including the part about the visit to the church. Interestingly, the Beach Boys sing the lyrics the way they are commonly presented: "I pretend to pray." However, Michelle sings them the way she says she wrote them: "I began to pray."]

CLR Has Just Completed Eighteen Wells In Elm Tree: Angus Federal, Simmental Federal And A Charolais South Federal -- February 12, 2021

To the best of my knowledge this has not been posted by any other blog yet. Just saying. These are going to be huge wells.

CLR must have an incredible portfolio of permitted sites and DUCs in the Bakken. 

Example: these 18 DUCs --

• 37060, conf-->drl/NC, CLR, Angus Federal 7-9H, Elm Tree,
• 37059, conf-->drl/NC, CLR, Angus Federal 8-9H1, Elm Tree,
• 37058, conf-->drl/NC, CLR, Angus Federal 9-9H, Elm Tree,
• 37057, conf-->drl/NC, CLR, Angus Federal 10-9H, Elm Tree,
• 37056, conf-->drl/NC, CLR, Angus Federal 11-9H2, Elm Tree,
• 37055, ros (1/8/20)-->drl/NC, CLR, Angus Federal 12-9H, Elm Tree,
• 37054, conf, CLR, Angus Federal 13-9H2, Elm Tree,
• 37053, conf-->drl/NC, CLR, Angus Federal 14-9HSL1, Elm Tree,
• 37052, conf-->drl/NC, CLR, Simmental Federal 5-16H2, Elm Tree,
• 37051, conf-->drl/NC, CLR, Simmental Federal 6-16H, Elm Tree,
• 37050, conf-->drl/NC, CLR, Simmental Federal 7-16H2, Elm Tree,
• 37049, conf-->drl/NC, CLR, Simmental Federal 8-16H, Elm Tree,
• 37048, conf-->drl/NC, CLR, Simmental Federal 9-16H1, Elm Tree,
• 37047, drl/drl-->drl/NC, CLR, Simmental Federal 10-16H, Elm Tree,
• 37046, conf-->drl/NC, CLR, Simmental Federal 11-16H2, Elm Tree,
• 37045, conf-->drl/NC, CLR, Simmental Federal 12-16H, Elm Tree,
• 37044, conf-->drl/NC, CLR, Charolais South Federal 2-10HSL, Elm Tree,
• 37043, ros (1/8/20)-->drl/NC, CLR, Simmental Federal 13-16HSL2, Elm Tree,

In the process of updating producing Simmental Federal and Angus Federal wells, it was noted that two of the wells, maybe others, had recently been taken off line. There are not many reasons for an operator to take producing wells off line.

So, let's check FracFocus regarding these eighteen wells:

• 37060, 33-053-09237, fracked 12/3/20 - 12/10/20; middle Bakken; 8 million gallons water; 85% water by mass; one of eighteen wells on the same pad; max gas, 7,224 units at 17,491' MD; drilled in nine days from spud to TD; the well bore stayed within the ideal 16' target window 56.7% of the production lateral length;
  
• 37059, 33-053-09236, fracked 12/4/20 - 12/10/20; first bench TF; drilled in ten days from spud to TD; max gas, 2000; the well bore stayed within the ideal 16' target window 53.2% of the production lateral length;
• 37058, 33-053-09235, fracked 12/10/20 - 12/27/20;
• 37057, 33-053-09234, fracked 12/10/20 - 12/27/20;
• 37056, 33-053-09233, fracked 12/11/20 - 12/28/20; second bench TF; 8.9 million gallons of water; 88% water by mass; max gas of 3,033 units and a 10' - 30' trip gas; drilled in ten days from spud to TD; the well bore stayed within the ideal 12' target window 65.0% of the production lateral length;
• 37055, 33-053-09232, fracked 12/28/20 - 1/10/21;
• 37054, 33-053-09231, fracked 12/28/20 - 1/10/21;
• 37053, 33-053-09230, fracked 12/28/20 - 1/8/21; first bench TF; 6.7 million gallons of water; 87.2% water by mass;
• 37052, 33-053-09229, fracked 12/16/20 - 12/26/20; second bench TF;
• 37051, 33-053-09228, fracked 12/16/20 - 1/5/21;
• 37050, 33-053-09227, fracked 12/16/20 - 12/28/20; second bench TF;
• 37049, 33-053-09226, fracked 12/28/20 - 1/4/21;
• 37048, 33-053-09225, fracked 1/5/21 - 1/16/21; first bench TF;
• 37047, 33-053-09224, fracked 1/5/21 - 1/15/21;
• 37046, 33-053-09223, fracked 1/6/21 - 1/16/21; second bench TF;
• 37045, 33-053-09222, fracked, 1/17/21 - 1/24/21;
• 37044, 33-053-09221, fracked 1/16/21 - 1/25/21;
• 37043, 33-053-09220, fracked 1/16/21 - 1/25/21; second bench TF;

Data for other wells is also available at FracFocus, but I will complete this data later.

But now we know why a couple of neighboring wells were taken off line recently.

Casablanca, NEE, And SRE -- February 12, 2021

TCM tonight: Casablanca. Wow, every time I watch it, I see something new. What a great movie. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

******************************
Investing
SRE vs NEE
Elevator Speech

This caught my eye tonight. Over at NASDAQ dividend announcements, the site had a "down" arrow for the newly announced dividend declaration for NEE, but when I checked, everything suggested that, in fact, the company increased its dividend over the previous quarter, which was accurate. The dividend was increased 10% from the previous quarter. 

Going back through the dividend history, NEE paid $1.40 / share one year ago, compared to 35 cents/share last quarter, and now 38.5 cents / share for holders or record, February 26, 2021. 

LATER: a reader said the dividend was decreased because the stock split 4 -1 , October 26, 2020, or thereabouts.That explains everything. In fact this utility has outpaced every other utility. This is an incredible story. See Motley Fool at these links:

• February 14, 2021; 
• December 29, 2020;
  

So, year-over-year, NEE's dividend is significantly lower (38.5 cents versus $1.40) -- and maybe that explains the down arrow, despite being up over the previous quarter. But it certainly was wrong. I've seen this before.

Whatever, it caught my attention.

Again, I don't follow utilities very closely, but I'm watching Casablanca and don't have much else to do, so thought this was a good time to compare NextEra Energy with my favorite public utility, Sempra Energy. 

Right, wrong, or indifferent, I see:

• NEE:
• great region to be a utility with few risks: Florida
• domestic focus
• heavily committed to wind and solar
• SRE:
• with huge operations in California, huge risks: litigation, regulation, fires, local antagonism to natural gas;
• heavily committed to natural gas
• cutting risk by taking interest in Texas
• a more international focus
  

Then at Yahoo!Finance (figures may be rounded):

• NEE:
• earnings date: late April, 2021
• market cap: $160 billion
• P/E: 55
• pays: 1.67% (at $1.40 was paying 5 - 7%)
• share price, over the past year: $45 - $90
• today: $85
• one year target: $90
• SRE:
• earnings date: Feb 25, 2021
• market cap: $36 billion
• P/E: 10
• pays: 3.32%
• share price, over the past year: $88 - $160
• today: $125
• one year target: $145

Yahoo!Finance considers share prices over-valued for both companies. 

This may be fascinating to watch. 

Although this is dynamic and not current, this is what Yahoo!Finance is reporting:

• NEE:
• EPS: $1.48
• Forward dividend: $1.40
• SRE:
• EPS: $13.01/share
• Forward dividend: $4.18

Notes From All Over -- February 12, 2021

From social media:

• Tesla: 1,184 days ago, Tesla starting taking $250,000 deposits for the RoadsterII. It still doesn't exist.
• Jim Cramer: I feel fortunate to have energy expert Jim Cramer assessing how quickly oil will become obsolete. He also said the energy sector was dead before this 75%+ move. Just hanging on every word. 
• Nikki Haley: Former US ambassador to the UN Nikki Haley directly accused former President Donald Trump for his involvement stoking the US Capitol riot in a new interview. Being reported by an outlet I don't trust.
• TSLA: Time to kick TSLA out of the S&P.
• Wind; Learning more about how wind turbines "freeze off." A big component is the OK cash spike this week. I had thought cold = no wind, but they actually shut thee things down when power prices are the highest.
• WTI: WTI making a run at $60/bbl.
• Bloom Energy: +272% last 52 weeks. 2021 operating cash flow guidance: "Approaching positive."
• Cuba: hit by nationwide electricity blackout
• TV just went blank: EAS -- a winter storm warning for following counties -- includes Dallas, Ft Worth, effective from 6:00 a.m. Saturday to 9:00 p.m. Sunday. This warning includes virtually all of north and central Texas. Warning will likely last for a full week due to extreme cold.

**************************************
Remote Learning

Vaccine Rollout -- February 12, 2021

Vaccine rollout. Law of large numbers.

Numbers of Americans vaccinated is increasing by 0.3% each day. Has been that way since the inauguration.

**************************
Grapevine, TX, Weather

Currently well below freezing and its late afternoon.

Forecast for 3 - 6" snow by Monday evening. Whoo-hoo!

********************************
Flashback

Link here. 

I graduated from WHS, 1969, and from Augustana College, Sioux Falls, SD, 1973.

I didn't watch much television during my college years, and certainly not on Saturday nights but this is what the folks back home were watching:

All Three Major Indices Close At New All-Time Record Highs; Notes From All Over; No New Permits; Seven Permits Renewed; WTI Flirting With $60 -- February 12, 2021

With all the kneeling, what am I missing here? Yes, white privilege. Link here. Jags' Meyer defends hiring ex-Iowa coach accused of racism. Meyer says he knew the guy for 20 years and had no problem hiring a guy with this history -- a guy paid $1 million to leave his old job. 

Houston Texans: one step closer to trading their star quarterback who wants out.

Road to Biden-ville:

• the buzz on CNBC -- crude oil prices should keep rising as demand increases, US supply drops due to policies of new administration. Whoo-hoo!
• short term: OKE pays 8.45% in a rising market; what's not to like;
  

Road to New England:

• ISO NE: burning oil (5%) and coal (5%) -- not trivial. Renewables? Only 6%.  
• ISO NY: at the far right of the scale; AOC's constituents playing $120/MWh; rest of NY paying less than $40/MWh;
  

Holy mackerel: near the close, UNP jumped almost $6/share, up almost 3%. Did UNP gain almost $10/share over two days? I don't know. I didn't see any "headline" news to explain; lots of option activity, but this from yesterday:

Among the biggest risers on the S&P 500 on Thursday February 11 was Union Pacific Corporation, popping some 1.83% to a price of $207.23 a share with some 2.65 million shares trading hands.

Starting the day trading at $205.11, Union Pacific Corporation reached an intraday high of $207.87 and hit intraday lows of $204.35. Shares gained $3.73 apiece by day’s end. Over the last 90 days, the stock’s average daily volume has been n/a of its 669.83 million share total float. Today’s action puts the stock’s 50-day SMA at $n/a and 200-day SMA at $n/a with a 52-week range of $105.09 to $221.28.

Any others of note?

• AAPL: actually turned green just before the close;
• XLNX: up 1%
• SRE: apparently news from yesterday did not make a difference today; down 1%
• news yesterday: California regulators okay utilities to purchase more power over the next three months;
• ENB: down 1.5%; pays 7.4%
• EPD: up 1.6%; pays 8.4%
• OKE: up almost 2% today; pays 8.45%
• BRK: up over 1% today; up almost $3/share
• DFS: up 1% today; up almost a buck;
• QCOM: up 1.7%; up $2.42/share; trading at $148;
  

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

Active rigs:

$59.63	2/12/2021	02/12/2020	02/12/2019	02/12/2018	02/12/2017
Active Rigs	15	56	63	58	36

No new oil and gas permits:

• 38152, a SWD well in Leaf Mountain
  

Seven permits renewed:

• EOG (4): three Hawkeye permits in McKenzie County; and one Clearwater permit in Mountrail County;
• Whiting (3): one Ark permit in Williams County; one Roggenbuck permit and one Roggenbuck Federal permit, both in Mountrail County;

Director's Cut -- Data For December, 2020

Director's Cut: posted, link here.

The usual disclaimer applies: in a long note like this, done quickly, there will be content and typographical errors. If this is important to you, go to the source.  

December, 2020, data. This is all preliminary data for December, 2020. When the final number is tallied (next month), it will reveal a slight increase in production month-over-month):

Crude price (ND light sweet):

• today: $48.25
• January, 2021: $41.77
• December, 2020: $37.70
• November, 2020: 33.22

Crude oil production:

• December: 1,192,145 (preliminary)
  
• November: 1,224,540 (preliminary); 1,227,138 bopd (final)
  
• October: 1,222,871 bopd (preliminary); 1,231,048 bopd (final)
  
• delta:  -34,993 bopd (inconsequential in big scheme of things)
  
• delta:  -2.9%
  

Natural gas production:

• December: 2,892,908 (preliminary)
  
• November: 2,887,402 (preliminary); 2,890,376 MCF/day (final)
  
• October: 2,873,654 MCF/day (preliminary); 2,881,717 (final)
• delta: 2,532 boepd
• delta: 0.00%
  

Natural gas capture:

• December, 94%
• November, 93%
• October, 93%

Rig count:

• today: 15 (no SWD or CS rigs)
• January: 12 (but may include CS and SWD)
• December: 14 (but may include CS and SWD)
• October: 14 (ditto)

Wells

• January:
• permitted: 49
• completed: 59
  
• December:
• permitted: 66
• completed: 44
• inactivity: 2,687
• DUCs: 668
  
• total off line for operational reasons: 3,355
  
• producing: 15,798 (preliminary)
• November: 
• permitted: 52
• completed: 44 (preliminary
• inactive: 2,870
• DUCs: 710
• total off line for operational reasons: 3,580 
• producing: 15,601 (preliminary)
  
• October:
• permitted: 74
• completed: 59 (preliminary); 74 (revised)
  
• inactive: 2,934
• DUCs: 724
• total off line for operational reasons: 3,658
• producing: 15,512 (preliminary); 15,524 (final)

**********************************
Wells

Wells, permitted:

• January, 2021: 49
• December: 66
• November: 52
• October: 74
• September: 51

Wells, completed:

• December: 44 (revised)
  
• November: 44 (preliminary); 74 (final)
  
• October: 59 (preliminary); 74 (revised)
  
• September: 76 (revised); 54 (final)
  
• August: 66 (final)

Wells, inactive:

• December: 2,687
• November: 2,870
• October: 2,934
• September: 3,749

Wells, waiting on completion (DUCs):

• December: 668
• November: 710
• October: 724
• September: 793

Wells, producing

• December: 15,798 (preliminary)
  
• November: 15,601 (preliminary); 15,620 (revised)
  
• October: 15,512 (preliminary); 15,524 (revised)
  
• September: 15,389

Fracking: the number of well completions has been very volatile since March (2020) as the number of active completion crews decreased from 25 to 1; then 7 with the CARES incentive (last month) and now 6 with most recent report.

DUCs and wells off-line for operational reasons are tracked here.

Photo Gallery! From Vern Whitten -- A Quiz -- February 12, 2021

Vern Whitten says it is too cold to go outside today so he sent us a quiz. See how many lakes you can identify. 

Link here.

Mr Whitten would love to hear from you.

Vern Whitten Photography
www.vernwhittenphotography.com
(701) 261-7658

Notes From All Over -- February 12, 2012

WTI: flirting with $60. Think about that for a moment. 

NASCAR: big Daytona weekend, starting tonight. 

PGA: absolutely not interested, but might watch a bit if things get boring.

NFL: "face of the Texans" -- asked for release from Houston Texans; Texans agree. Just the beginning?

Director's Cut is scheduled to be released later today. If there's a delay for any reason we won't see it until Tuesday, next week, at the earlier. Keep your fingers crossed. 

Apple Watch: 100 million people globally now wear an Apple Watch. 

Ouch: let's see -- 2021 - 300 = 1721. That was before the American Revolution. King George III was the King of Great Britain and Ireland. They say the UK economy suffers biggest slump in 300 years amid Covid-19 lockdowns. The WSJ. But let's not forget Brexit.

Bulls: the stage is set for a bull market in oil. ZeroHedge. 

Panic: across the plains states as natural gas prices explode to $80. ZeroHedge. 

Gasoline prices: highest in 12 months. More on the way. Whoo-hoo!

For investors today:

• 10-Year Treasury: link here. 
• DXY: link here.
  
• Silver: link  here. 
• CBOE volatility index: link here. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

Saudi Arabia In Deep Doo-Doo -- But With New US Administration's Goal To Significantly Raise WTI And Shift "Control" Back To OPEC, Things Should Improve This Year -- February 12, 2012

Link here

Foreign Exchange Reserves in Saudi Arabia decreased to 1701209 SAR Million in December from 1713605 SAR Million in November of 2020.

Link here, February 5, 2021:

Official figures and data have shown that Saudi Arabia’s debt [is now] 21 times larger in just six years, as the kingdom has lost more than half a trillion dollars since King Salman came to power at the beginning of 2015. 

Over the past six years, Riyadh has borrowed over $238.2 billion from foreign sources and withdrawn $278.3 billion from the general reserve assets, according to figures based on Saudi government and Saudi Central Bank data.

The latest SAMA report showed that the kingdom's foreign exchange reserve assets decreased to 1.701trillion Saudi riyals ($453.66 billion) by the end of December 2020.

The report indicated that the kingdom's foreign exchange reserve assets had decreased by just over nine percent by the end of 2020 over the course of a year, a drop of 172.2 billion Saudi riyals ($45.92 billion) compared to 2019.

Saudi Arabia lost $50 billion of its foreign exchange reserves in March and April, of which $40 billion were transferred to the Public Investment Fund (the state's sovereign wealth fund) due to the devastating impact of the coronavirus pandemic.

Reports published by SAMA indicate that total reserve assets amounted to $732 billion at the end of 2014, implying that the Saudi reserves have decreased by more than 38 percent between January 2015, when King Salman took power, and December 2020.

It is noteworthy that the net value of foreign assets of the Saudi Central Bank decreased by about $27 billion last March compared to the previous month. 

This represents the fastest decline recorded in at least 20 years, indicating that the kingdom urgently needs to exploit its reserves to offset the economic damage resulting from the drop in oil prices and the severe slowdown in all non-oil economic sectors due to the pandemic.

Dating Guides As We Go Into The Weekend -- February 12, 2021

Levels of deplorability: Ammo Grrrll link at PowerLine here;

Hot / Crazy Matrix: a man's guide to women. Outstanding. 

Emotional unavailability / Hot Matrix: a woman's guide to men. A parody. Not as good, but only because it was a parody. Parodies are seldom as good as the original. 

**********************************
Dilemma

It's really cold here today. The only question I have? Do I ride my bike to get some doughnuts and kolaches? 

Later, in a note to a reader:

Just got back from a very short bicycle ride. Went out to get doughnuts and kolaches.

Temperature inside the apartment this morning was 59°F. That happens occasionally, generally every winter here in north Texas, but that's about as cold as it gets inside the apartment. Haven't checked outside temperature. To some degree (no pun intended), 59°F in the apartment is much nicer than the 100°F+ temperature in the summer. Not completely sure about that. My tune will probably change this August.

Bike ride was fine; no traffic on the roads.

A Closer Look At The CLR Jack Well That Came Off Confidential List Today -- February 12, 2021

Locator: 10010JACK.

November 19, 2023: the original post has been updated.

*******************************
The CLR Jack Wells

The well:

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 61K 12/20; cum 255K 9/23; still a nice well; fracked 2/11/20 - 2/20/20; 7.9 million gallons of water; 88% water by mass; compared to others, a lousy geology report:
  

• target: early Devonian Three Forks B1
• spud: 0130, October 6, 2019
• reached KOP: 1118, October 9, 2019
• lateral
• begun: 1930 hours, November 15, 2019,
• gas:ranged from 8- 8,361 units
• gas buster; flare: averaged 10 - 25' gas flare
• two hot zones
• Upper Marker (TF MRK1): 15' into the Three Forks
• second hot zone: ~ 20' into the Three Forks

Four wells on this pad:

• 36478, F/A, CLR, Jack 8-4H, Murphy Creek, first production, 8/20; t--; cum 59K 12/20; cum 253K 9/23;
  
• 36477, F/A, CLR, Jack 7-4H1, Murphy Creek, first production, 8/20; t--; cum 75K 12/20; cum 236K 9/23;
  
• 36476, F/A, CLR, Jack 6-4H, Murphy Creek, first production, 8/20; t--; cum 36K 12/20; cum 316K 9/23; only 8 days in 9/23;
  
• 36475, see above,

Four other wells in that driling unit, coming up from the south:

• 23520, 585, CLR, Jack 3-9H, t1/13; cum 336K 12/20; cum 423K 9/23;
  
• 23519, 581-->AB (9/21), CLR, Jack 4-9H, t2/13; cum 245K 12/20; cum 255K 9/21; off line;
  
• 20746, 678, CLR, Jack 2-9H, t2/12; cum 292K 12/20; cum 326K 9/23;
  
• 17702, 513, CLR, Jack 14-9H, t5/09; cum 387K 12/20; a jump in production in 7/20 but quickly dropped back to previous production; cum 417K 9/23;
  

Of note:

• five permits canceled; these would have been wells drilled from the south; appears they were replaced by wells drilling from the north; we've discussed this before.

Winter? Yup, It's Winter -- February 12, 2021

Rosneft: profits slide almost 80% in 2020. 

Gazprom: to start Nord Stream 2 gas pipeline this year.

Market: I was sure there was going to be a huge sell-off this morning. It may still happen -- the day has just begun, but if we have a weekly gain, that will be nice.

Apple: shareholders have their dividend; paid yesterday.

Talking heads: inflation possible. 

Winter: yup, it's winter. 

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

Active rigs:

$58.47	2/12/2021	02/12/2020	02/12/2019	02/12/2018	02/12/2017
Active Rigs	15	56	63	58	36

Friday, February 12, 2021: 7 for the month, 40 for the quarter, 40 for the year.

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 61K 12/20;
  

RBN Energy: gas processing build-out continues in Permian's Delaware Basin, part 2. Archived.

Permian producers and midstreamers have faced a lot of uncertainty over the past 12 months. First, they wondered how much demand destruction would be caused by pandemic-related lockdowns, how low crude oil prices might fall, and how much production would be cut back and where. Then, they needed to assess how quickly demand, prices, and production levels would rebound, and determine whether the gathering systems, gas processing plants, and other infrastructure they had been planning pre-COVID should proceed according to their original schedules or be delayed or even canceled. As it turned out, most of the projects went ahead, the developers anticipating — correctly, it now appears — that if any U.S. production area will keep growing, it will be the Permian. Today, we continue a short blog series on gas-related infrastructure development in 2020-21, this time focusing on the Delaware Basin.

The companies that drill for crude oil and natural gas in the Permian and build the pipes and processing plants that help bring those commodities to market, lived a Tom Brady kind of life in the second half of the 2010s. Sure, they may have suffered a minor setback or two, but generally speaking, everything for Permian producers and midstreamers was up and to the right. Then came 2020, an unforgettable year — and in a bad way.

The Buffett Indicator -- February 12, 2021

Update

February 13, 2021: they must be reading the blog. We may be using the same source, but I posted first. LOL.

Original Post

The Buffett indicator has been in the news lately.

The Buffett indicator? Link here. 

The Director's Cut is scheduled to be released later this afternoon.

Winter Storm Advisory -- Weekend -- Grapevine, TX -- February 12, 2021

Link here.