Saturday, December 25, 2021

A Closer Look At The EOG Squaw Creek Case From The January, 2022, NDIC Hearing Dockets -- December 25, 2021

From the January, 2022, NDIC hearing dockets:

Case 29167, EOG, Squaw Creek-Bakken, i) establish an overlapping 960-acre unit, W/2 of sections 8/17/20-149-94, four wells; ii) amend order # 30870 to terminate two existing 1280-acre units which authorizes eleven wells on each, and terminate an existing 2560-acre unit which authorizes two lease-line wells in Zone XIX, and instead create and establish an overlapping 2560-acre unit, section 9/10/15/16-149-94, authorizing fifteen wells; McKenzie County;

In the graphic below, the 2560-acre unit is depicted by the sections with the red stars. The horizontal wells will likely be sited along the section line between the two "northern" sections and the two "southern" sections with half of the new wells boring to the north; and half of the wells boring to the south.

The four parent wells and one vertical well:

  • 15689, 47, Leland Oil & Gas, Calf Women 1-16, Squaw Creek, a Madison well; t5/05; cum 66K 10/21; intermittent production for several years; spacing unit of 1/4th section, 160 acres.
  • 22232, PNC, EOG, Mandaree 105-0910H, Squaw Creek, permitted as a Three Forks well;
  • 18464, 1,424, EOG, Mandaree 1-10H, Squaw Creek, t9/10; cum 231K 10/20; note small jump in production in late 2020, ten years after it was originally drilled:
BAKKEN1-20213111501195360213517130
BAKKEN12-20203112561336417199415720
BAKKEN11-20203013061275516209316870
BAKKEN10-20203114992050627235119290
BAKKEN9-20202713101118923158912220
BAKKEN8-202042084800
BAKKEN7-2020307489071839385390
BAKKEN6-202021475112875863060
BAKKEN5-2020714809176950
BAKKEN4-20202242650716352119432
BAKKEN3-2020317047002036372240
BAKKEN2-20201117612017414200
BAKKEN1-202022528591153834405134
BAKKEN12-201931773770263168312610
BAKKEN11-201930775776210142293777
  • 18774, 526/off line, EOG, Mandaree 5-16H, Squaw Creek, t10/10; cum 215K 9/21; note small jump in early 2020, after beeing drilling 2010, ten years earlier:
BAKKEN4-202030169421051351199001583
BAKKEN3-202020190319011297225702000
BAKKEN2-202029240424552411270302313
BAKKEN1-202031191118693075216101756
BAKKEN12-20194157020360049
BAKKEN11-2019122822111084680310
BAKKEN10-20193171590726912240802
BAKKEN9-20193075289530411760776
BAKKEN8-20193175265841812750853
  • 18697, 927, EOG, Mandaree 4-15H, Squaw Creek, t8/10; cum 316K 10/21; note small jump in early 2020, after being drilled in 2010, ten years earlier:
BAKKEN8-2020211343112545512570979
BAKKEN7-202031278135081040277602372
BAKKEN6-202022155746049912420952
BAKKEN5-202074123671434390370
BAKKEN4-202030495453632436528304880
BAKKEN3-2020106306457566030523
BAKKEN2-202036124456736440612
BAKKEN1-20200000000
BAKKEN12-2019002350000
BAKKEN11-201912375211695090351
BAKKEN10-2019311034113621114210999
BAKKEN9-20193091389519213620974
BAKKEN8-201931970880239145001037
BAKKEN7-2019319781148220151701095
BAKKEN6-2019309891070205151001102
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Oilprice.com's Top Five Oil And Gas "Picks" For 2022 -- December 25, 2021

I had no plans to post this, for various reasons, but upon reviewing the article again, some thoughts:

  • most agree, that of the major integrated E&P companies, CVX is by far the best (at this time) and yet CVX does not appear on this list; 
    • CVX appears on almost everyone else's list of top picks;
  • XOM is consistently and frequently considered a "dud"; and, then look at this:
  • there seems to be one outlier: NOG

December 25, 2021: top five oil and gas picks by oilprice.com: 

  • XOM
  • COP
  • Cenovus Energy, Inc (CVE)
  • Cheniere (LNG)
  • NOG

Motley Fool: two energy stocks below $4 with returns of more than 400%, link here:

  • Baytex, look at that P/E of 1.63; pays no dividend; huge free cash flow; Western Canadian Sedimentary Basin and the Eagle Ford in the US;
  • Pipestone Energy (PIPE.TO): pure-play condensate-rich Montney asset in the Pipestone area near Grande Prairie, "with decades of high value condensate development potential"

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Christmas Gift

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Merry Christmas -- For The Grandchildren -- For The Archives -- December 25, 2021

Wow, what a beautiful day. 

Sophia and her family were at our little hovel last night, Christmas Eve, to well after midnight, enjoying twenty+ different hors d'oeuvres and desserts -- everything from wings to nachos to chicken puffs to salmon spread to cheesecake -- everything homemade -- except the eggnog and brandy, and the Sees candy. LOL. 

Eggnog is typically made with rum, brandy or bourbon, and some like to start with a combination of dark rum and cognac. But there's no need to go premium; some recommend using an affordable, high-proof VS cognac. The higher alcohol level will cut through the sweetness of the rest of the ingredients.

Ten most popular desserts around the world: cream brulee (France); mochi (Japan); apple pie (USA); nanaimo bar (Canada); gulab jamun (India); pakhlava (Turkey); karinalschnitten (Austria), dadar gulung (Indonesia), poffertjes (the Netherlands); and, kremes (Hungary).

And opening presents. Some very nice presents -- photos later, perhaps. 

We slept in a bit this morning, still in bed watching A Christmas Story. Then my tour de force, chorizo and eggs. The Galileo thermometer says it's 78°F inside; our thermostat: 78°F. Wow. And we did not have to "plug" in the Galileo thermometer. It was a gift from Olivia and Arianna.

What an incredibly beautiful day -- sunny, and not a cloud in the sky. 

Outside it's 73°F with a high of 81°F forecast for this afternoon, and slightly warmer tomorrow when our older daughter will be paddle boarding on Lake Grapevine. 

Walking outside to deliver some early morning gifts, this reminded me of my first winter in southern California. Growing up in the Dakotas I never imagined it could be so warm in December. To be honest, I don't think anyone is complaining about not scraping ice off their windshields in north Texas today. 

Sophia's modern art:


The grandsons, Christmas Day:


Not quite two years old and their favorite present and favorite activity: books and reading.

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