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No New Permits; Ovintiv Cancels Four Permits; Slawson Reports Three DUCS Completed, But No Data -- December 2, 2021

LOL, transitory, temporary, comeback, coal: who would have guessed -- Hillary "put-those-miners-out-of-work" Clinton's head must be exploding. What else

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Back to the Bakken

Definitive active rig report for yesterday posted here

Active rigs:

$67.24
12/2/202112/02/202012/02/201912/02/201812/02/2017
Active Rigs3114566653

No new permits.

Four permits canceled:

  • Ovintiv, #35845 - #35848, inclusive, the Sailfish permits in McKenzie County.

Three producing wells (DUCs) reported as completed:

  • 37591, no data, Slawson, Loon Federal 2-24-25H,
  • 37592, no data, Slawson, Loon Federal 5-24-25TFH,
  • 37427, no data, Slawson, Orca Federal 4-23-26TFH,

Should We Just Call MRO The Bakken Operator Of The Year And Move On? Medicine Crow Produced At A Rate Of 107K Over 30 Days --December 2, 2021

The wells:

  • 37856, 33-061-04825, loc/drl, MRO, Evans USA 11-5TFH, Reunion Bay; fracked:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20212927703275142902432988308320
BAKKEN9-20212956135558835749063573592190
BAKKEN8-202110026000
  • 37857, 33-061-04825, loc/drl, MRO, Morgan USA 21-5TFH, Reunion Bay; fracked:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20213029461291153439534895331100
BAKKEN9-20211927277271543555928740271940
BAKKEN8-20213002303000

Parent well
:
  • 18230, 552, MRO, Fisher USA 21-5H, Reunion Bay, t11/09; cum 433K 10/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20212727469272092604531739295970
BAKKEN9-20213039331397755409747402443080
BAKKEN8-20212038379377589140240602365901676
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-202116823124522479062919
BAKKEN3-20213117491849346164913590

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One-Half Mile To The East 

  • 37657, 33-061-04757, drl/NC, MRO, Medicine Crow USA 21-5H, Reunion Bay, fracked 7/25/21 - 8/4/21; 6 million gallons of water; 56.7% fresh water; 28.8% produced water; again, a small to small-moderate frack. 54K 15 days extrapolates to 107K over 30 days.
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20213035645359513007839813387160
BAKKEN9-20213068853693176283981082789460
BAKKEN8-20211553576524265588649340449111274
  • 37656, drl/NC, MRO, Howling Wolf USA 31-5TFH, Reunion Bay, 39K over 14 days extrapolates to 84K over 30 days.

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20213048828486873778156654551310
BAKKEN9-20212838052385121738746555453670
BAKKEN8-2021143908538246378053469731808592
  • 37655, 33-061-04755, drl/NC, MRO, Joba USA 31-5H, Reunion Bay, fracked 7/25/21 - 8/4/21; 6 million gallons of water; fresh water, 49.22% by mass; produced water, 36.34% by mass. By current standards this is a small to small-moderate frack:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20212958085582773233966764649330
BAKKEN9-20213081381805716664376331738900
BAKKEN8-2021100041041
  • 37654, drl/NC, MRO, Albert USA 31-5TFH, Reunion Bay,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20213031158311014468734317324830
BAKKEN9-20212027651273765159529495279850
BAKKEN8-2021200104000

The Bakken Never Ceases To Amaze Me -- December 2, 2021

The well, link here:

  • 18230, 552, MRO, Fisher USA 21-5H, Reunion Bay, t11/09; cum 433K 10/21;

This well was drilled back in 2009. What about that dreaded Bakken decline?

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20212727469272092604531739295970
BAKKEN9-20213039331397755409747402443080
BAKKEN8-20212038379377589140240602365901676
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-202116823124522479062919
BAKKEN3-20213117491849346164913590
BAKKEN2-2021281684158732817351197270
BAKKEN1-2021311879190635518801340246

Things Have Changed -- December 2, 2021

Oil: pretty funny. OPEC+ agrees to maintain 400,000 bopd increase even though the cartel anticipates a glut in early 2022. Brandon formally thanks OPEC+ for increasing production -- though this had been "agreed-to" months ago. It's all about the headline for the gullible. LOL. WTI apparently turns negative. I haven't checked. New "meme" acronym, HFTG: headline for the gullible.

Oil: in 2021, the big issue in 2022 -- "spare capacity." Just saying.

TSMC: ready to start producing 3-nm chips. Intel still struggling with 10-nm chips, last I heard.

Global warming: "We" grew up in such a great time. And to think "we" may be the last generation to enjoy earth as we once knew it, with global warming occurring just at this very moment in time. Pretty amazing how special "we" all were.

Things Have Changed, Bob Dylan

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Not Unexpected

Merck: announced an increase in its dividend earlier this week. MRK will increase its quarterly dividend to 69 cents, paying 3.71%, with a date of record, 12/15/21 and a pay date of 17/22. Previous rate was 65 cents, thus an increase of 6.15%.

My hunch: we're going to see dividend increases in a number of sectors to close out this year and to start the new year.

Definitive Rig Report -- North Dakota -- December 1, 2021

Disclaimer: in a long note like this there will be content and typographical errors. If this is important to you, go to the source.

The NDIC says there are 34 active rigs. In fact, three of the rigs are "duplicates," suggesting that there are 31 active rigs. 

Kraken does not have an active rig. 

December 1, 2021

Rig

#

Operator

Name of Well

NDIC #


Nabors B

1

CLR

Thorp Federal 7-28H1

38517

Start 11/23/21

T&S Drilling

1

Summit Carbon Solutions

Archie Erickson 2

38622

Start 11/30/21

T&S Driling

1

Slawson

Howitzer 4-25H

38576


AES

4

CLR

Bang 12-4H

38609


Nabors B

6

CLR

Whitman FIU 12-34H2

38532


Nabors X

10

MRO

Phillip 41-4TFH

37997


Nabors B

13

Oasis

Soto 5097 12-3 4B

38335


Nabors B

18

Iron Oil Operating

Antelope 4-17-20H

38460


Nabors B

21

Crescent Point 

CPEUSC Pankake 4-6-7-157N-99W-MBH

38555


Nabors X

24

Hess

CA-E Burdick-LE-155-98-29H-1

38002


Nabors B

26

Oasis

Lindvig Beck Federal 5201 41-2-5B

38525


Nabors B

27

CLR

Charolais South Federal 7-10H2

37905


Nabors X

27

Hess

BL-S Ramberg-155-95-0601H-5

36642


Nabors X

28

Hess

EN-J Horst 154-93-1112H-1

38397

Start 11/10/21

Cyclone

35

Koda

Stout 3410-20H

37797

Start 11/30/21

Cyclone  

35

Bowline Energy

Missouri W 152-103-4-9-7H

37942


Cyclone 

38

CLR

Whitman FIU 6-34H2

38532


True Drilling

39

True Oil

Northern State 31-36

37495


True.

40

Enerplus

Minnow 149-94-36C-25H

36991


Iron Hand

108

Eagle Operating

Willy Miranda-State 16-4

38630


H&P 

259

MRO

Weekes 14-8TFH

38593


Unit 

414

Slawson

Machete Federal 1 SLH

38458


H&P 

454

CLR

Flint Chips Federal 16-WHSL

36151


H&P

456

CLR

LCU Ralph 10-27H1X

38657

Start 11/10/21

H&P  

492

CLR

LCU Ralph 4-27H

37013

Start 11/24/21

H&P

492

CLR

LCU Ralph 3-27H1

37014


H&P 

515

Petro-Hunt

Mongoose 149-102-80-5 2H

28832


H&P 

516

Ovintiv

Wisness State 152-96-16-21-21H

38547


H&P 

535

MRO

Austin 11-18H

38573


H&P 

640

Hunt

Halliday 145-93-15-22H 3

38635


Patterson

806

Whiting

Miller 31-15H

37413


Patterson

808

Whiting

Kannianen 11-5-2HU

38521


Patterson

811

Grayson Mill

Jay 24-13F 6H

38612


Patterson 

901

CLR

Rolf Federal 8-17H

38298