Sunday, August 15, 2021

June Production Data For The Petro-Hunt Wells That Caught Fire -- August 15, 2021

This page will not be updated.

Note: as far as I know, no public confirmation this was the pad, but these wells seem to fit the geographic location that has been reported. We will know more in coming months as production data is updated. If I have the wrong pad, I sincerely apologize. Do not make any decisions based on what you read here. Confirm with the source if this is important to you.

June production data for the four-well Petro-Hunt Charlson pad fire in which three wells caught fire; the fourth shut down. Obviously this is the production prior to the fire. Paperwork often lags what goes on in the field, but according to scout tickets, as of June, 2021, before the first, three of four wells were still flowing without a pump:

The wells:

  • 34655, 1,748, Petro-Hunt, USA 153-95-3B-10-1H, Charlson, F, t8/19; cum 555K 5/21; middle Bakken; F, cum 567K 6/21;
  • 34656, 1,131, Petro-Hunt, USA 153-95-3B-10-2H, Charlson, F, t8/19; cum 266K 5/21; Three Forks; AL, cum 276K 6/21;
  • 34657, 1,328, Petro-Hunt, USA 153-95-3B-10-3H, Charlson, F, t8/19; cum 587K 5/21; middle Bakken; F, cum 618K 6/21;
  • 34658, 1,050, Petro-Hunt, USA 153-95-3A-10-4H, Charlson, F, t8/19; cum 279K 5/21; Three Forks; F, cum 288K 6/21;

After Being Off Line For Eighteen Months, Back On Line -- August 15, 2021

The well:

  • 20505, 2,868, Whiting, Brown 41-28XH, Sanish, ICO, t3/12; cum 410K 2/20; needs to be re-fracked; off line 3/20; remains off line 3/21; back on line 6/21; 

********************************
Word For The Day: Woad

Quick, multiple choice. Woad is most closely related to (pick best choice):

  • the western toad;
  • the way less traveled;
  • to dye for;
  • past tense of wide

A Whiting Kannianen Well Goes Over 500K Bbls Crude Oil -- August 15, 2021

 The well:

  • 18077, 1,773, Whiting, Kannianen 11-5H, t9/09; cum 497K 2/21; cum 500K 6/21;

After Eighteen Months, Back On Line -- August 15, 2021

The well:

  • 17872, 1,814, WLL, Littlefield 12-34H, Sanish, 18 stages; 2.3 million lbs, t5/10; cum 720K 12/19; offline for 2.5 months in early 2015; intermittent production as of 12/19; remains off line 5/20; one line for full month, 6/21; but only 818 bbls production over 30 days; hard to say what this well will do going forward; cum 721K 6/21;

A CLR Whitman Well in Oakdale Goes Over 500K Bbls Crude Oil -- August 15, 2021

The well:

  • 17061, 664, CLR, Whitman 11-34H, Oakdale, t6/08; cum 498K 12/20; returned to production, 7/20; cum 502K 6/21;

Petro-Hunt Charlson Well Jumps 7x -- August 15, 2021

Wells of interest:

  • the old well: #16424
  • three new wells: #37150, #37151, #37152

The graphic:

The well:

  • 16424, 700, Petro-Hunt, USA 11B-2-2H, Charlson, t7/07; cum 673K 4/20; off line 5/20; remains off line 12/20; two days in 7/20; significant decline beginning 4/20; cum 713K 6/21;

Note jump in production for this well, #16424, below, starting in 4/2021 and continuing through 6/21. Three other wells of note, all "cross" #16424:

  • 37150, production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202130320463197917577558432141526908
BAKKEN5-202131265092630915366441431649723050
BAKKEN4-20212921652219951514433951862624531
BAKKEN3-20215427133923937453704537
  • 37151, production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202130238672355026272418431629219835
BAKKEN5-202131161261638825624270891015314055
BAKKEN4-20212810609100452240314590392710204
BAKKEN3-20210000000
  • 37152, production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202123180761777258511831871349245
BAKKEN5-20211520835208856575302231157717023
BAKKEN4-202130426924282312740577352329833627
BAKKEN3-2021111342712822284613651221911397

*****************************

The "parent" well #16424, from above.

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20213013371131881406220318127575327
BAKKEN5-20213114470145231671618182132023630
BAKKEN4-2021251151411390197381750075629764
BAKKEN3-2021185028513130313
BAKKEN2-20211800000
BAKKEN1-2021172100000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-202011040121840177
BAKKEN8-202021380381200
BAKKEN7-20202240479191250125
BAKKEN6-2020114003066066
BAKKEN5-20200000000
BAKKEN4-20202890010593483910196
BAKKEN3-20203114521403626280302593
BAKKEN2-20202918991949701263802436
BAKKEN1-20203121692142740281402598
BAKKEN12-20193121902220940310302887
BAKKEN11-20193021352192956300702798
BAKKEN10-201931262425721000267902512

North Dakota Retains #2 Spot As Nation's Second-Largest Oil Producer -- Sources -- August 15, 2021

Link here

See June, 2021, data here

Scout Energy To Re-Enter A Vertical Heath Well; Convert To Horizontal; Last Produced 1999; Produced Over 800K Bbls Crude Oil From Two Formations -- August 15, 2021

From the August 13, 2021, daily activity report:

One re-entry permit:

  • 03951, 208/196, Scout Energy Management, Fryburg Heath-Madison Unit E-805, formations: Madison/Heath; t2/96 (for both formations); cum Madison 112K; cum 726K Heath; Billings County; the Heath and the Madison both produced oil until January, 1973, when all production came from the Heath.

The "Heath/Tyler" is tracked here

The scout ticket

No production since March, 1999.

Unable to access file report for this well. Bummer. 

So, let's check an earlier Scout Energy re-entry well.

The well:

  • 5343, 250/250, Scout Energy, Fryburg heath-Madison Unit P-812XHR, Fryburg, t12/73 for both formations; cum Madison 131K 6/21; and, cum Heath 387K 6/21;

Scout ticket:

File report:

  • Scout Energy acquired the well from Hess, October 24, 2018.
  • A form dated 11/19/2018 stating the well was returned to production.
  • Several fingerprinting analyses to determine percent of oil from each formation.

Recent production (water wells with a bit of oil):

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
HEATH6-202130176138162625250
MADISON6-202130327257311746460
HEATH5-2021311741692207000
MADISON5-2021313233704180000
HEATH4-202128756281516160
MADISON4-202128431460479494940
HEATH3-2021311213126220
MADISON3-20213161365261121061060
HEATH2-2021281211102330
MADISON2-20212858853450211271270
HEATH1-2021311313117330
MADISON1-20213165864157481251250
HEATH12-2020311515120440
MADISON12-20203168772858971821820
HEATH11-2020301313136000
MADISON11-2020306336166665000
HEATH10-2020291213135000
MADISON10-2020296266596588000

The Plague Year -- A Great Year For Grain Shippers -- And Investors -- August 15, 2021

NASCAR: great race. The "dinger" wins after Briscoe takes Hamlin out in "overtime."  This was great for the Allmendinger team; he came close to winning yesterday, coming in second, and today was pretty much out of it until a turn of events in "overtime." And if the crowd came to see huge wrecks, they weren't disappointed.

Ben Franklin: apocryphal? Perhaps. I don't know. "There never was a good war, nor a bad peace."

Eagerly awaiting for futures, we will start to see numbers at 6:00 p.m. ET.

Equity futures, link here: way too early but flat to slightly red. Good, good news -- early numbers suggest the Afghanistan story is a non-event for investors.  Here we go, 6:23 p.m. CT, three major indices down slightly. This suggests to me that events in Afghanistan will have no material effect on trading tomorrow unless we start getting "different" news. Good, bad, or indifferent, Joe Biden will get credit for ending the US-Afghanistan war; he will get credit for pulling US troops out of Afghanistan, something his predecessor failed to do. Good, bad, or indifferent, did Biden just pull off a Trumanesque moment? Later, 8:57 p.m. CT: Dow futures down 121 points.

WTI, link here, way too early, still no trading. $68.44 before first futures. Here we go, how worried are oil traders worried about Afghanistan? First numbers: WTI down another 23 cents, now trading at $68.21. Later, 8:57 p.m. CT: WTI drops another dollar; now trading at $67.52.

Economy: this is a huge story on so many levels. A huge "thank you" to the reader who just sent the link. Both Canadian railways set grain shipping records in 2020 - 2021. Link here.

  • the plague year: 2020 - 2021
  • record-setting year for both railways: CN and CP
  • should not be a huge surprise:
  • Chinese floods that were reported last year:
  • the new huge dam China completed, flooding tens of thousands of farmland
  • three weeks ago: "why is China facing record floods?"
  • CN: fourteen straight months of Canadian grain volume shipment records
  • CN and CP each ship about 30 million tonnes per year
  • this is the fourth straight year CP Rail broke its single-year record for grain movement
  • implications:
    • Warren Buffett: BNSF
    • UNP
    • Cargill reported record earnings for the plague year
    • as I've said often: the plague year was great for investors
    • see next graphic

Money market: my favorite graphic -- from July 22, 2021: the "folks" at the far right in the graph below are daring the equity markets to take a 10% pullback:

WTI The Day Kabul Fell -- August 15, 2021

WTI: Sunday morning before Kabul fell -- $68.44. Posted at 1:22 p.m. CT. 

A reader sent me this screenshot from Carpe Diem:

My reply:

I saw that; I can't remember if I posted that.

That's part of the "tea leaves" that suggest to me that the price of oil is yet to head higher.

Right now, there seems to be a real mismatch between price of oil (relatively low, considering) and price of gasoline (relatively high, considering).
Later:
One almost gets the feeling the US shale operators are lurking.

Lurking:
  • M&A opportunities
  • new plays

Did someone say, "lurking," "M&A opportunities? Link here to Tsvetana Paraskova. Shale pioneer Chesapeake preparing for a comeback!

One of the U.S. shale pioneers, Chesapeake Energy, is back in business six months after emerging from bankruptcy with a major acquisition— marking its return to the shale gas basin in Louisiana.

Chesapeake Energy was one of the most prominent names in the U.S. shale patch to file for bankruptcy in the middle of last year, although the move had been widely expected. 

Now the reinvented shale gas pioneer is buying Vine Energy, which develops natural gas properties in the over-pressured stacked Haynesville and Mid-Bossier shale plays in Northwest Louisiana. The acquisition is a zero premium transaction valued at approximately $2.2 billion, Chesapeake Energy said this week.  

The acquisition will make the shale giant the top gas producer in Haynesville, with around 1.5 billion cubic feet per day of production and hundreds of locations to drill.

With the acquisition of Vine Energy, the new Chesapeake Energy is doubling down on shale gas and on Haynesville, half a decade after selling many of its assets in the basin in 2015 and 2016 as it was weighed down by enormous debts, which ultimately forced it to declare bankruptcy last year.

Notes From All Over -- Sunday, August 15, 2021

Updates

August 18, 2021: Taliban "presser." At time this story was posted, President Biden had not yet scheduled a "presser," and had only given a short speech blaming his predecessors for what happened in Afghanistan.

August 18, 2021: note date this news story was posted --

Later, 1:58 p.m. CT: Baghdad Bob re-surfaces, making Dr Fauci look like an Einstein:

Later, 12:53 p.m. CT: we're starting to see helicopters over Kabul; fires, etc, over at CNN. Video footage from Reuters. It took me a few seconds to figure out if I was watching current video from Kabul or stock footage from the fall of Saigon. Seriously. No hyperbole. 

Later, 12: 52 p.m. CT: a reader wrote me about China's sphere of influence following this Afghanistan debacle. My not-ready-for-prime-time:

You are correct about China's new sphere of influence as we always called it in the military.

It will be interesting to see leaked reports from the Pentagon this next week -- if it turns out the Pentagon had a better plan and Biden nixed it .... wow ..... I can guarantee you the DOD / Pentagon does not want to be the "fall guy" for this debacle.

Biden and his staff are doing everything to keep this debacle at arm's length .. and the Pentagon doesn't want to take the fall for this. First to to go? SecDef? Then Chairman of the Joint Chiefs of Staff? I have no idea who either of them are any more.

But their may be more heads rolling in Washington, DC, next week, than in Kabul.

Later, 12:45 p.m. CT: one of the great things about modern technology, one can find original sources quite easily and quite quickly and don't have to listen to news through a filter / through a talking head / through a producer. For example, the theme today seems to be that what is going on in Kabul right now is an unmitigated (whatever that means) disaster. 

Interestingly "everyone" agrees that the Taliban would have eventually persevered once the US left. The only point of disagreement was how fast. The new question: would it be better for this to play out over the next six to twelve months with fighting among many factions, or is it best to have this come to an end within a week or so? 

Original plan: 3,000 troops back to Kabul to guarantee safe and orderly withdrawal (not "evacuation").

Plan B: about 24 hours later -- to add another 2,000 troops.

Plan C: about 24 hours after Plan B -- additional troops are being considered. My hunch: there is great concern that the extra 2,000 troops are no match for a horde of tens of thousands of Afghanis rushing the airport. And the real risk, of course, is the entire 5,000 troops + the US citizens + LES being overrun by the Taliban.

Later, 12:39 p.m. CT: apparently gunfire at the Kabul airport.

Original Post 

First time I've watched Face The Nation in decades (?). 

Why? Because Hulu makes it so easy. LOL.

Lead stories over at Face The Nation:

Fauci's fifteen minutes:

  • southern states overwhelmed and under-vaccinated, though they may be getting religion;
  • most interesting: what was not mentioned -- the super-spreading events -- Sturgis Rally, now nearing its end; August 5, 2021 -- August 14, 2021 (yesterday); the birthday bash; the Iowa State Fair (has just opened its doors to an anticipated million visitor; no mandated masks or vaccinations).

Tale of two states:


Taliban's fifteen minutes:

  • looks like it could be a peaceful takeover of Kabul;
  • optics out of Kabul looked less concerning than optics out of southern US (Covid-19)

Scalise's fifteen minutes (R-Louisiana, Republican whip):

  • Afghanistan: Biden's Saigon moment; that GOP talking point won't have legs
    • didn't seem particularly concerned
    • US has set up embassy operations at airport and orderly withdrawl of US citizens and LES will be processed 
    • no helicopters off the US embassy in Kabul
  • Covid-19 in Louisiana: admits he just got vaccinated last month --
    • says he had antibody prior to vaccination; then saw the delta virus
  • two-thirds of the state remains unvaccinated
  • wow, I did not know this -- two hundred days into Biden administration and the president has not yet appointed a new head of the FDA -- speaks volumes about how serious movers and shakers really feel about Covid-19?

Afghanistan analysis:

  • why no US DOD spokesperson interviewed?

****************************
Lana Del Rey

Streaming and bootlegging: I've talked about this before. Who's being played? Who figured this out? Winners and losers? Fascinating story.

  • Bootlegged: Lana Del Rey, Sun Star, "Premiered July 24, 2021." The entire album, 54+ minutes on YouTube. Uploaded by √Čtienne L, with 955 subscribers. 
  • Bootlegges: Lana Del Rey, Lost and Loved, "Premiered June 23, 2021." The entire album. 47 minutes on YouTube. Uploaded by √Čtienne L, with 955 subscribers. 

Wiki says:

  • seven released albums
  • most recent: March 19, 2021
  • Blue Banisters, TBA, to be releasesd
  • neither of the above albums at the wiki site

 ****************************

Initial Production Data For Wells Coming Off The Confidential List This Next Week -- August 15, 2021

The Charles Blackhawk wells are tracked here.

The wells:

  • 37988, conf, CLR, Harms Federal 18-33H, Antelope, producing --
DateOil RunsMCF Sold
6-20213959338101
  • 36078, conf, Petro-Hunt, Hurinenko 144-98-11C-2-2H, Little Knife, no production data, 
  • 37989, conf, CLR, Harms Federal 17-33H1, Antelope, producing --
DateOil RunsMCF Sold
6-20213032631054
5-20217050
  • 37843, conf, WPX, Charles Blackhawk 31-30HY, Heart Butte, no production data, 
  • 22652, conf, WPX, Charles Blackhawk 31-30HC, Heart Butte, no production data,
  • 37407, conf,  CRL, Gale 14-32HSL, Cedar Coulee, no production data, 
  • 22653, conf, WPX, Charles Blackhawk 31-30HZ, Heart Butte, no production data, 
  • 37842, conf, WPX, Charles Blackhawk 31-30HDL, Heart Butte, no production data, 
  • 37941, conf, CLR, Bang 3033H1, Cedar Coulee, no production data,

CLR's Harm And Harm Federal Wells -- Elm Tree

The wells:

  • 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 430K 6/21;
  • 22818, 706, CLR, Harms 1-32H, Elm Tree, t12/13; cum 379K 6/21;
  • 37989, conf, CLR, Harms 7-33H1, Elm Tree, first production, 6/21; t--; cum 30K 6/21;
  • 37988, conf, CLR, Harms 8-33H, Elm Tree, first production, 6/21; t--; cum 40K 6/21;

Graphics:


***************************
Miscellaneous

The wells:

  • 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 430K 6/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-2021916461330146513611091166
BAKKEN5-20210000000
BAKKEN4-20210000000
BAKKEN3-2021125841283000
BAKKEN2-20211926022904170322811750323
BAKKEN1-202131570757423767591039821525
BAKKEN12-20203161576240439763185185714
BAKKEN11-20203064506372511253904035950
BAKKEN10-2020191453135811171341763472
BAKKEN9-20202680969910598411100
BAKKEN8-202024314832971548280726350
BAKKEN7-2020002290000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-202021315726452070485722742364
BAKKEN3-202030426446323547493518502713

Wells Coming Off The Confidential List This Next Week -- August 15, 2021

Monday, August 23, 2021: 13 for the month, 24 for the quarter, 204 for the year:
None.

Sunday, August 22, 2021: 13 for the month, 24 for the quarter, 204 for the year:
37988, conf, CLR, Harms Federal 18-33H,

Saturday, August 21, 2021: 12 for the month, 23 for the quarter, 203 for the year:
36078, conf, Petro-Hunt, Hurinenko 144-98-11C-2-2H,

Friday, August 20, 2021: 11 for the month, 22 for the quarter, 202 for the year:
7989, conf, CLR, Harms Federal 17-33H1,

Thursday, August 19, 2021: 10 for the month, 21 for the quarter, 201 for the year:
None.

Wednesday, August 18, 2021: 10 for the month, 21 for the quarter, 201 for the year:
37843, conf, WPX, Charles Blackhawk 31-30HY,

Tuesday, August 17, 2021: 9 for the month, 20 for the quarter, 200 for the year:
22652, conf, WPX, Charles Blackhawk 31-30HC,

Monday, August 16, 2021: 8 for the month, 19 for the quarter, 199 for the year:
37407, conf,  CRL, Gale 14-32HSL,
22653, conf, WPX, Charles Blackhawk 31-30HZ,

Sunday, August 15, 2021: 6 for the month, 17 for the quarter, 197 for the year:
37842, conf, WPX, Charles Blackhawk 31-30HDL,

Saturday, August 14, 2021: 5 for the month, 16 for the quarter, 196 for the year:
37941, conf, CLR, Bang 3033H1,

Notes From All Over -- Clearing Off The Overnight Detritus -- August 15, 2021

Kabul: well, that ended quickly. The troops should be home by noon.

Social media: you can't do this level of damage to a nation in such a short period of time unless it's by design. Link here

Meanwhile: has OPEC returned Joe's call? Asking for a friend.

Barack's legacy: well, that ended quickly. Matt Taibbi. Social media.

The real JonBovi: Buc-ees ... my god, imagine betting against this country. 

Just wait until JonBovi sees Taco Bell: TB to defy gravity; link here. Another example of the Covid-19 effect, compressing 2020 - 2035 into 2020 - 2025.

Twain's Mustache on social media: "Yeungling about to be sold in Texas grocery stores, a threat to my Peroni budget. This is called substitution effects. Link here. Peroni: FTW.

Rivian: considering a $5 billion factory in Ft Worth, TX, to rival that of Tesa's in Austin, TX. Both Rivian and Tesla have something in common: Texas, no state income tax for its employees. Dallas Business Journal. Ft Worth Star-Telegram

Gasoline demand: on the cusp of another 10-handle. Link here.

Curious: I have no idea what this is all about. TYT on social media. Who is Glenn Greenwald?

Today's rabbit hole: the "inverted Jenny -- the world's most famous stamp. Link here. Be sure to look up Bill Gross of PIMCO fame at that site.

BP: new business model. Go green but buy XOM stock. What a hoot. 

Anticipation:

Notes From All Over -- August 14, 2021

Maureen Dowd: behind a paywall over at The New York Times, but no paywall at Mediaite: "Behold Barack Antoinette." Also at The Wrap I assume in a day or two one will be able to find the Dowd article without a paywall. Stephen Colbert didn't go. Nancy Pelosi didn't go. The former president was gifted 1,000 custom face masks but guests not interested. 

Coffee, inflation: Yesterday, I talked about inflation and the cost of coffee. In that post, I noted that Amazon was selling K-pods for 20 cents apiece.

Now this, from The Wall Street Journal, right on cue: coffee jolt gets pricier as costs of beans, labor, transport rise. Cafes and retailers lift prices, while others try to hold the line; "consumers will be looking for more affordable options." 

This was a very, very long article, and not one mention of Amazon.com which would have taken less than five seconds to research. Amazing. How do these "modern" millennial reporters forget to check Amazon?

Anyone not buying coffee on-line ... well, what can I say?

Fertilizer from China: China has asked its top fertilizer companies to suspend  exports of phosphate and urea, a bullish development for both commodities. Link here. The country is the world’s top exporter of phosphate, shipping out 3.2 million tonnes of diammonium phosphate  in the first half of 2021. It also exported another 2.4 million tonnes of urea. Maybe more on this later. 

Germany: coal-fired power generation is skyrocketing, Link here. August 3, 2021.

At its peak, the corona crisis is causing energy consumption and CO2 emissions in Germany to collapse along with economic activity. It’s over. The consumption of lignite, which is particularly harmful to the climate, is increasing dramatically.

The recovery of the economy after the Corona slump and the cool spring caused energy consumption in Germany to rise in the first half of 2021. Consumption increased by 4.3 percent compared to the same period in the previous year. The temperature-adjusted consumption values ​​would be more than 7 percent below the value for the first six months of 2019. 

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.

AMD: why AMD stock shot up 4%, August 13, 2021.