The Million Dollar Way (The Bakken Oil Blog): 12/02/21

Thursday, December 2, 2021

Virtual Signaling! The Way California Does It -- Keeping Gasoline Prices Down -- December 2, 2021

Link here.

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	12/2/2021	12/02/2020	12/02/2019	12/02/2018	12/02/2017
Active Rigs	31	14	56	66	53

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:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold
BAKKEN	10-2021	29	27703	27514	29024	32988	30832
BAKKEN	9-2021	29	56135	55883	57490	63573	59219
BAKKEN	8-2021	1	0	0	26	0	0

37857, 33-061-04825, loc/drl, MRO, Morgan USA 21-5TFH, Reunion Bay; fracked:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold
BAKKEN	10-2021	30	29461	29115	34395	34895	33110
BAKKEN	9-2021	19	27277	27154	35559	28740	27194
BAKKEN	8-2021	3	0	0	2303	0	0

Parent well:

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

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	27	27469	27209	26045	31739	29597	0
BAKKEN	9-2021	30	39331	39775	54097	47402	44308	0
BAKKEN	8-2021	20	38379	37758	91402	40602	36590	1676
BAKKEN	7-2021	0	0	0	0	0	0	0
BAKKEN	6-2021	0	0	0	0	0	0	0
BAKKEN	5-2021	0	0	0	0	0	0	0
BAKKEN	4-2021	16	823	1245	224	790	629	19
BAKKEN	3-2021	31	1749	1849	346	1649	1359	0

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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.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	30	35645	35951	30078	39813	38716	0
BAKKEN	9-2021	30	68853	69317	62839	81082	78946	0
BAKKEN	8-2021	15	53576	52426	55886	49340	44911	1274

37656, drl/NC, MRO, Howling Wolf USA 31-5TFH, Reunion Bay, 39K over 14 days extrapolates to 84K over 30 days.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	30	48828	48687	37781	56654	55131	0
BAKKEN	9-2021	28	38052	38512	17387	46555	45367	0
BAKKEN	8-2021	14	39085	38246	37805	34697	31808	592

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:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	29	58085	58277	32339	66764	64933	0
BAKKEN	9-2021	30	81381	80571	66643	76331	73890	0
BAKKEN	8-2021	1	0	0	0	41	0	41

37654, drl/NC, MRO, Albert USA 31-5TFH, Reunion Bay,

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold
BAKKEN	10-2021	30	31158	31101	44687	34317	32483
BAKKEN	9-2021	20	27651	27376	51595	29495	27985
BAKKEN	8-2021	2	0	0	104	0	0

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?

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	27	27469	27209	26045	31739	29597	0
BAKKEN	9-2021	30	39331	39775	54097	47402	44308	0
BAKKEN	8-2021	20	38379	37758	91402	40602	36590	1676
BAKKEN	7-2021	0	0	0	0	0	0	0
BAKKEN	6-2021	0	0	0	0	0	0	0
BAKKEN	5-2021	0	0	0	0	0	0	0
BAKKEN	4-2021	16	823	1245	224	790	629	19
BAKKEN	3-2021	31	1749	1849	346	1649	1359	0
BAKKEN	2-2021	28	1684	1587	328	1735	1197	270
BAKKEN	1-2021	31	1879	1906	355	1880	1340	246

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