The Oasis Peregrine Well On The South Side Of Williston Has Just Gone Over 500K Bbls Crude Oil — March 25, 2021

The well on the south side of the tracks on the south side of Williston just went off 500K bbls crude oil:

• 33130, 1,220, Oasis, Peregrine 5401 42-24H, Todd, t10/17; cum 528K 1/21;

The BR Guadalupe Well In Charlson Oil Field Has Been Updated -- March 25, 2021

Production for a very interesting well has been updated, the well:

• 17799, 457, BR, Guadalupe 11-23H, Charlson, t3/09; cum 732K 1/21;

Full production profile here.

Notes From All Over -- Early Evening Edition -- March 25, 2021

Warren Buffett wants to beat Biden to the infrastructure buildout!

Link here. Data points:

• Warren Buffett-owned company wants to add 10 gigawatts of gas;
• customers would pay for plants; Berkshire would get return (sort of like how the NFL owners do it: have the local community pay for the new arena and then reap the rewards)
• $8.3 billion plan
• building a lot of new natural gas plants

This simply reminds us again how big the fracking revolution is.

Over at social media: faux environmentalists are really faux-upset. Another said, "The green academic crowd (that have never had a real job in energy) always tell us that wind / solar are cheaper. I wonder what Buffett is seeing they don't. 

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Jobless Claims

"Damn The Torpedoes, Full Speed Ahead" -- CLR With Seven New Permits -- March 25, 2021

Seven new permits, #38218 - #38224, inclusive --

• Operator: CLR
• Field: Baker (Williams County)
• Comments:
• CLR has permits for seven Plano FIU wells, located in SENW/NENW 28-154-101;
• sited between 1349' and 1131' FNL and between 2348' and 2448' FWL;

The wells:

• 38218, conf, CLR, Plano FIU 5-28H, Baker,
  
• 38219, conf, CLR, Plano FIU 4-28H, Baker,
• 38220, conf, CLR, Plano FIU 3-28H, Baker,
• 38221, conf, CLR, Plano FIU 2-28HSL, Baker,
• 38222, conf, CLR, Plano FIU 6-28H, Baker,
• 38223, conf, CLR, Plano FIU 7-28H, Baker,
• 38224, conf, CLR, Plano FIU 8-28HSL, Baker, 

The original Plano well holding the lease by production:

• 21933, 636, CLR, Plano 1-28H, Todd (scout ticket, but it's in the Baker oil field), t3/12; cum 284K 1/21;

All Three Indices Set New Records? Not Sure If I Heard That Correctly But I Think That's Correct; CLR With Seven New Permits -- March25, 2021

Apple, link here.

Apple bought the most artificial intelligence companies from 2016 to 2020. 

From the linked article:

Over the course of the last several years, Apple has bought companies like Emotient, Turi, Glimpse, RealFace, Shazam, SensoMotoric, Silk Labs, Drive.ai, Laserlike, SpectralEdge, Voysis, XNOR.ai, and more, all with the aim of improving the AI and machine learning capabilities of its products and services.

Rigs matter OR shale operators can't hold back: after promising to focus on free cash flow, and not increase production, it looks like drillers can't hold back. At least not in the Permian. From twitter this afternoon:

US oil, rig count jumps 11 to 513, as

Permian keeps adding!

Kinda makes one wonder about the IEEFA story on free cash flow.  

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Back to the Bakken

Active rigs:

$58.51	3/25/2021	03/25/2020	03/25/2019	03/25/2018	03/25/2017
Active Rigs	14	50	68	60	49

Seven new permits, #38218 - #38224, inclusive --

• Operator: CLR
• Field: Baker (Williams County)
• Comments:
• CLR has permits for seven Plano FIU wells, located in SENW/NENW28-154-101;
• sited between 1349' and 1131' FNL and between 2348' and 2448' FWL;

Two oil and gas permits renewed:

• Enerplus: one Morgan permit in Dunn County;
• Liberty Resources: one McGinnity permit in Williams County;

Fossil Fuel Is Dead! Long Live Fossil Fuel -- March 25, 2021

Link here. 

Imagine this headline in the United States: 

Texas and Louisiana now have at least -- repeat, at least -- four major new refineries under construction. Most of these new refineries along the Gulf Coast are expected to produce plastic feedstocks, such as ethylene and propylene.

Instead, we get this headline: President Biden kills they Keystone XL which would have brought much needed Canadian heavy oil to US refineries along the Gulf Coast. 

In fact the actual headline is this: China has at least four major new refineries under construction, most of which are expected to produce plastic feedstocks, such as ethylene and propylene.

The article at the link is chock full of interesting data points.

The world leader in refining:

• until recently, it had been the US:
• due to Covid-19 and a concerted effort to shut down the US oil industry by some faux environmentalists, China succeeded in overtaking the USA as the world's biggest oil refiner in 2020;
• China's lead is most likely only temporary with the USA back in first place by the end of the year (2021), assuming no more bad news from the Biden administration;
• but long term, it's probably likely that America's lead will be short-lived as oil demand continues to rise across Asia.

Fossil fuel is dead! Long live fossil fuel!

That Suez ship: it may be in worse trouble than we are being told. From a reader who knows this stuff pretty well. First note earlier this morning:

Long story short ... ships are not designed to 'sit on the ground'.

If this fully-laden, 1,200 foot long ship is resting on bottom anywhere along its keel  (certainly a portion of its bow area is right now), the unbalanced structural stresses could be enormous.

If any cracks develop, the ship will take on water and no longer be simply a floating obstruction ... it will be a sunken one.

Removal could be several months up to a year depending upon many factors.

Then this, from later this afternoon:

Upon much closer inspection of pictures, not only is the bow 20 to 30 feet higher than the stern, there is a noticeable list to port side. (VERY bad implications there).

Evidence of hull leaking growing, not receding.

Ramifications too numerous to elaborate.

Next 48 hours could be pivotal.

And, so there we are. How fast can "they" get Huey helicopters there to start air-lifting containers off that container ship, if that's even possible.

Natural Gas Fill Rate -- March 25, 2021

Link here.

Notes From All Over -- Early Morning Edition -- March 25, 2021.

This is the problem, or should we say "challenge"? Link here.  

Unfair deductions? Link here.

• North Dakota's mineral owners are taking oil companies to court over royalty deductions;
• also, maybe I just haven't noticed, but it seems the Williston Herald webpage has improved immensely; but maybe I just haven't been paying attention;

The blog has really helped. Link here.

• had I not been blogging, I would not have been able to put this headline in context;
• Equinor makes Norway oil discovery of up to120 million bbls;
• said to be the biggest oil discovery this year to date on the Norwegian continental shelf;

Ovintiv to sell Eagle Fords assets. Link here.

• "old story"; previously posted;
• now over at Oil & Gas Journal:

Mexico:

• energy sector stagnates as AMLO's counter-reform plays out;
• surprised? not surprised;
• S&P Global Platts; March 24, 2021;

EVs: GM is worth the wait, Forbes, March 2, 2021.

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.

Suez Canal: for the archives. Still stuck.

Tesla: link here.

• its dominance may be ending sooner than later; VW in the rear view mirror.

Outlook: link here.  Paywall, but easily accessed.

• Wall Street anticipates a surging GDP this year. As much as 8 percent.

Pop quiz: East Frisian edition.

No Wells Coming Off The Confidential List Today; WTI Drops Below $60 -- Again -- March25, 2021

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.

Following the money, not for investment but:

• for the archives; see if prognostications played out as predicted;
• see what shale plays are in fashion; upstream vs midstream.
• Brigham Minerals -- what is Bud Brigham up to these days:
• the "NOG" model?
  
• mixed report, Seeking Alpha, December 4, 2020;
• earnings call transcript, 4Q20;
• also here,
• ONEOK:
• nice report, Motley Fool, February 24, 2021;
• ENB:
• under new administration, a case can be made to pivot from growth to dividend ETFs; TipRanks, March 24, 2021; (same link as above)

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Back to the Bakken

Active rigs:

$59.27	3/25/2021	03/25/2020	03/25/2019	03/25/2018	03/25/2017
Active Rigs	15	50	68	60	49

No wells coming off the confidential list. No wells coming off the confidential list for the rest of the week, through the weekend.

RBN Energy: converting hydrogen's units is an accomplishment in itself. 

When it comes to energy markets analysis, there’s nothing quite like spending the better part of an afternoon piecing together a long chain of unit conversions only to find the next day you’ve misplaced the sticky notes on which you wrote them. 

We’ve all been there, though for most of us it’s become commonplace to memorize the few hydrocarbon conversions needed to get through a lunch or happy hour. 

Unfortunately, the same cannot be said when it comes to hydrogen, which brings its own set of unique units of measure, many of them not usually bantered around your typical business development discussion. Crunching through them is tough, in our experience, and we find ourselves writing them down over and over again. Which gave us an idea: why not write a blog on the topic? Fortunately, we are in that business, and today we continue our series on hydrogen with a look a green hydrogen production projects and the math needed to make sense of them.