Tuesday, January 18, 2022

EOG Breakeven At $30; Covers Their Dividend At $36 -- January 18 2022


The Never Ending Story -- January 18, 2022

Again, I found this well more than a year ago; never got around to posting it, but in the meantime it has another jump in production. 

The Bakken is simply a never ending story. 

The well:

  • 23536, 2,315, Slawson, Gabriel 2-36-25H, North Tobacco Garden, t12/12; cum 347K 11/21; full production here;

And, of course, this well led me to "her" sister well which is an even better well, #24521. This latter well has produced about the exact amount #23536 has produced, but its current production is doing much better.  

For me, I am inappropriately exuberant about the Bakken; a cup that's always half full.

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20213030233393198813787136370
BAKKEN10-20213131572896216914043138880
BAKKEN9-20213041604299270418211180610
BAKKEN8-20212527272391209983648134104
BAKKEN7-20213132433312196410966108110
BAKKEN6-20213042214708248013480133300
BAKKEN5-202131499543863344118471166924
BAKKEN4-2021210503191440135
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20215557950517152614938
BAKKEN12-202030406940423192904788980
BAKKEN11-202025378943012682840582729
BAKKEN10-202026443335863163920890780
BAKKEN9-202043147141368418201
BAKKEN8-202031516847153699109921075384
BAKKEN7-2020296871022012
BAKKEN6-20200000000
BAKKEN5-20201720311991940
BAKKEN4-202069097174531823175637
BAKKEN3-20202033452912232076667317249
BAKKEN2-202027279129121622643863020
BAKKEN1-202030307931661906722867580

$300 Oil? January 18, 2022

Link here.

One New Permit; Four DUCs Reported As Completed; WTI At Seven-Year High -- January 18, 2022

Hot sauces: https://www.foxbusiness.com/lifestyle/most-popular-hot-sauces-every-state-in-america.

  • National Hot Sauce Day: January 22, 2022
  • state rankings per capita
    • North Dakota #1: hot sauce bought per capital -- 5.4 ounces / customer
    • New Mexico: #2:
    • Colorado: #3:
    • California: #4
    • North Carolina: #5
  • favorite hot sauces:
    • Sriracha
    • Frank's RedHot
    • Cholula
    • Burman's
    • Tapatio
    • Tabasco
    • Texas Pete
    • Heinz (makes me question the list)
    • Louisiana
    • Valentina

Coal Creek Station, Underwood, ND: for the archives, The Washington Post

WTI: could we hit $86 by the end of the week. I know the Biden administration is monitoring the price of oil closely

Well, that didn't take long:

*********************
Back to the Bakken

Active rigs:

$85.43
1/18/202201/18/202101/18/202001/18/201901/18/2018
Active Rigs3212566858

One new permit, 38740:

  • 38740, conf, Slawson, Blizzard Federal 1-13H, Big Bend; to be sited in Big Bend, NWNW 24-152-93, 530 FNL and 664 FWL

Four producing wells (DUCs) reported as completed:

  • 38462, 1,027, Iron Oil Operating, Antelope 2-17-20H, Sather Lake, no production data,
  • 37406, 1,854, CLR, Gale 13-32H1, Cedar Coulee, minimal production,
  • 37917, 1,734, Slawson, Whirlcat Federal 4-31-19TFH, Big Bend, minimal production,
  • 38157, 171, Crescent Point Eenrgy, CPEUSC Sylven 5-11-2-158N-100W-MBH-LL,Winner, no production reported;

BR Active In Haystack Butte? January 18, 2022

See this post.

It looks like BR is doing some work in Haystack Butte.

These wells will not be tracked here. They will continue to be tracked at the post linked above.

However, note the update with regard to these wells:

  • 16939, PNC, BR, Rough Creek 44-23H, wildcat,
  • 37634, conf-->drl/NC, BR,  Cherry Pie 1R TFH ULW, Haystack Butte, but, four days of flaring in 11/21;
  • 37633, conf-->drl/NC, BR, Cherry Blossom 1S MBH, Haystack Butte, but, two days of flaring in 11/21;
  • 37632, conf-->drl/NC, BR, Cherry Juice 1T TFH, Haystac Butte,
  • 17402, 1,107, BR, Cherry Creek 11-25H, Haystack Butte, t3/09; cum 210K 7/20; off line 8/20; remains off line 11/20;
  • 3763, conf-->drl/NC, BR,Cherry Danish 1U MBH, Haystack Butte,


  • 37639, conf-->drl/NC, BR, Cherry Ice Cream 1V TFH, Haystack Butte,
  • 37638, conf-->drl/NC, BR, Cherry Daquiri 1W MBH, Haystack Butte,
  • 37637, conf-->drl/NC, BR, Cherry Margarita 1X TFH, Haystack Butte,
  • 37636, conf-->drl/NC, BR, Cherry Claire 1Y MBH, Haystack Butte,
  • 37635, conf-->drl/NC, BR, Cherry Tree 1Z TFH, Haystack Butte,

17858 -- How Many Lives Does This Well Have? January 18, 2022

The well:

Recent production;

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202130713769173365271102502
BAKKEN10-202131802677663748778052142350
BAKKEN9-202130816884163972827280630
BAKKEN8-20212451614964276226588491642
BAKKEN7-202131514552452795266624500
BAKKEN6-202130530652743026231021010
BAKKEN5-202131606260644183638850171155
BAKKEN4-20217530218147069260276
BAKKEN3-20212242213062480
BAKKEN2-202128277228011207337831830
BAKKEN1-202131324530261338388036640

Major Theme Of 2022: Spare Capacity Is A Myth -- January 18, 2022

Link here.

Link here.

The DUC dilemma. 



Chart Of The Day -- The UK / EU Energy Crisis -- January 18 , 2022

I'm bored with the whole story and apparently no one else really cares either. 

Stiff upper lip and all that stuff. 

But for the archives. Someday we might find this interesting, although I doubt it. Any island that can survive the blitzkrieg can muddle through a self-inflicted energy crisis.

And, anyway, it will be warm again next summer.

Chart of the day, Javier Blas:

Paraphrasing Joe Biden, "Frankly, the Texas freeze in February, 2021, got more ink than the European energy crisis."

Brandon: All Hands On Deck -- Release The Kraken -- January 18, 2022

Oil hits seven-year high. Administration is monitoring the situation. Will release the kraken in February (just two weeks from now); March, just six weeks from now.  Wow, no matter what the stock market does, the oil companies are going to make a lot of money. Let's see. WTI at $85; EOG breakeven at $30; covers their dividend at $36. WTI trading at $85.85.

And this is pretty funny: BlackRock knows it.

Link here.

I wonder if DC will reverse the judge's ruling that ended lease sales in North Dakota.

I wonder if DC will re-permit all those pipelines.  

Glad to see the Biden administration is on top of this, "monitoring the situation." LOL. 

Don't you just love this political theater?

I was reviewing some of my posts from the Obama era. Amazing how often I was wrong

And, so it goes. 

Random Update Of An XTO Badlands Federal Well In North Fork; A Badlands Federal Well Goes Over 500K Bbls Crude Oil Cumulative -- January 18, 2022

I noted this well a long time ago, but was simply too busy to post it. There were just too many wells to post and this one never got me all that excited, but now with a bit of free time, I'm posting it.

There are six Badlands Federal wells:

  • 35938, 2,591, XTO, Badlands Federal 21X-13B, North Fork, t9/20; cum 337K 11/21;
  • 26639, 2,533, XTO, Badlands Federal 21X-13E, North Fork, t12/20; cum 331K 11/21;
  • 35937, 2,994, XTO, Badlands Federal 21X-13C, North Fork, t10/20; cum 406K 11/21;
  • 35936, 2,849, XTO, Badlands Federal 21X-13AXD, North Fork, t8/20; cum 499K 11/21;
  • 20132, 1,029, XTO, Badlands Federal 21X-13, North Fork, t9/11; cum 367K 11/21;
  • 35935, 3,352, XTO, Badlands Federal 21X-13H, North Fork, t8/20; cum 452K 11/21;

The well of interest:

Production jump:

BAKKEN11-2020301034410282147561710816239715
BAKKEN10-2020311302213109195932147420396917
BAKKEN9-20202112174122721860720784195121223
BAKKEN8-20203134723347314310160552554884983
BAKKEN7-20209526948979081777163811377
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20200000000
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-20200000000
BAKKEN12-20190000000
BAKKEN11-20190000000
BAKKEN10-20190000000
BAKKEN9-20190000000
BAKKEN8-20190000000
BAKKEN7-20190000000
BAKKEN6-20190000000
BAKKEN5-20190000000
BAKKEN4-20190000000
BAKKEN3-20190000000
BAKKEN2-20190000000
BAKKEN1-20191865018017
BAKKEN12-2018259751064487251318480
BAKKEN11-20183012571283606314723270
BAKKEN10-20183113411400683327124240
BAKKEN9-2018301298138370232282325219
BAKKEN8-201831129711907183224251852
BAKKEN7-2018311437139977335232658116

The Slawson Rainmaker Federal - Lightning Federal Wells

I've been remiss on "identifying" several Slawson plays.

Perhaps the last time was back in August when I updated Slawson's Stallion / Zephyr pads

One of those wells was a Slawson Rainmaker, which ran from the south to the north.

A reader alerted me to eleven Rainmaker / Skybolt wells that just went "confidential." I was aware of them but just did not have any interest in updating them now. But now that a reader is interested here goes.

I had followed them earlier, back from May, 2020. These wells will not be followed here. 

First, the graphics:


Now, the eleven wells that just went confidential and wells of interest in the immediate area, west to east:

  • 38576, conf, Slawson, Howitzer 4-25H, 
  • 38577, conf, Slawson, Lightning Federal 4-24-13TFH
  • 38578, conf, Slawson, Rainmaker Federal 8-25-36TFH,


  • 18287, south to north, 911, Slawson, Skybolt 1-24H, t1/10; cum 383K 11/21; halo effect, 2015: jump in production;
  • 18363, north to south, 981, Slawson, Howitzer 1-25H, t1/10; cum 337K 11/21;


  • 38455, conf, Slawson, Lightning Federal 5-24-13TFH
  • 38454, conf, Slawson, Rainmaker Federal 5-25-36TFH
  • 38453, conf, Slawson, Lightning Federal 3-24-13H,
  • 38452, conf, Slawson, Howitzer 3-25H, 
  • 38451, conf, Slawson, Rainmaker Federal 6-25-36TFH,

 

  • 30412, south to north, 2,684, Slawson, Lightning Federal 6-24-13TFH, t4/16; cum 515K 11/21; 
  • 20422, north to south, 684, Slawson, Howitzer 2-25H, 
  • 30413, south to north, 1,008, Slawson, Lightning Federal 2-24-13H, t4/16; cum 276K 11/21; 
  • 30414, south to north, 1,622, Slawson, Lightning Federal 7-24-13TFH, t4/16; cum 479K 11/21;


  • 38456, conf, Slawson, Rainmaker Federal 7-25-36TFH
  • 38457, conf, Slawson, Cougar Federal 1 SLH,
  • 38458, conf, Slawson, Machete Federal 1 SLH,

Notes From All Over -- January 18, 2022

Honey: link here --

  • North Dakota leads the nation in honey production
  • together with Montana and South Dakota, the three states produced nearly half of all US honey in 2019
  • now, a commercial beekeeping supply business is taking advantage of that fact
  • Commercial Bee Supply, Hettinger, ND, to set up business in southwest ND to serve customers in three of the top five honey-producing state in the country 
  • will serve customers in  ND, SD, MT, WY, 
  • top US-honey-producing states (statista): ND, SD, CA, TX, MT.

Ethanol: in praise of corn ethanol. Doomberg

Coal: of all electricity sources, coal-fired power saw the largest growth in 2021. Link here

Staff shortages: restaurants cutting back on hours. Link to WSJ. I've never understood why some companies are so persistent in staying open during hours when there is so little activity. Chick-fil-A is a great example of taking it to the extreme: completely shut down on a day that would likely be their biggest day in sales. But at the other extreme, I see restaurants remaining open far longer than one would think reasonable. Customers will adjust. Covid will telescope 2020 - 2035 cultural changes into 2020 - 2025. Shorter restaurant hours will be one of those changes for many restaurants, although once things improve, they will go back to their wasteful habits. 


Slawson Now Reporting The Slawson Stallion Wells -- Halo Effect In Neighboring Wells -- January 18, 2022

Slawson is just now reporting these wells:

  • 36126, drl/NC-->drl/A, Slawson, Stallion 4-1-12TFH, Big Bend, first production, 10/21; t--; cum 19K 11/21;
  • 37218, drl/NC-->drl/A, Slawson, Zephyr Federal 4-36H, Big Bend, first production, 10/21; t--; cum 42K 11/21;
  • 36125, drl/NC-->drl/A, Slawson, Stallion 3-1-12H, Big Bend, first production, 10/21; t--; cum 69K 11/21;
  • 36124, drl/NC-->drl/A, Slawson, Stallion 8-1-12TFH, Big Bend, first production, 10/21; t--; cum 48K 11/21;
  • 36123, drl/NC-->drl/A, Slawson, Stallion 7-1-12H, Big Bend, first production, 10/21; t--; cum 54K 11/21;
  • 36122, drl/NC-->drl/A, Slawson, Stallion 5-1-12TFH, Big Bend, first production, 10/21; t--; cum 30K 11/21;
  • 36121, drl/NC-->drl/A, Slawson, Zephyr Federal 3-36H, Big Bend, first production, 10/21; t--; cum 41K 11/21;

Wells in the immediate area either remain off line or are coming back on line and showing a halo effect. 

Production profile for one of these wells:

  • 36125: 32,761 bbls over 23 days extrapolates to 43K bbls --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20213035299353182716835167035017
BAKKEN10-20212332761323002818632952032835
BAKKEN9-20211533017335210516

Who Saw This Coming? An Old Slawson Well With Huge One Month Jump In Production -- January 18, 2022

The well:

  • 20203, 833, Slawson, Stallion 2-1-12H, Big Bend, t1/12; cum 544K 6/21; most recent month: 2K 6/21; cum 569K 11/21;

Note production jump in September, 2021, for this well drilled back in 2012, 13,355 bbls over 22 days extrapolates to 18,000 bbls over 30 days;

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202130363631993782318430331
BAKKEN10-202122719276691487654964901485
BAKKEN9-202122133551296214990930553813814
BAKKEN8-20210000000
BAKKEN7-202112101889236593779284
BAKKEN6-202130223123999281864168628
BAKKEN5-2021211222123172881763578
BAKKEN4-20212128023104854293128233
BAKKEN3-202131449147931616442642730
BAKKEN2-20212746304831162543013849317

Nice Jump In ProductionThis Past Year -- An Old Well -- Drilled in 2012 -- January 18, 2022

The well:

  • 21630, 1,378, MRO, Waltom USA 43-8TFH, Reunion Bay, t9/12; cum 434K 2/21;

Production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202130351434343386395238210
BAKKEN10-202131367636133635404339200
BAKKEN9-202130416143144827484347030
BAKKEN8-2021193930389545833133285644
BAKKEN7-20210000000
BAKKEN6-202130479547485872415238660
BAKKEN5-202131517251427704457642710
BAKKEN4-2021304794477092883612329341
BAKKEN3-2021314786476580692572228614
BAKKEN2-202128411241215926209018570
BAKKEN1-202131531352677063243121290
BAKKEN12-2020983582520254684200
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-20200000000
BAKKEN8-20200000000
BAKKEN7-20200000000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20200000000
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-2020171029150787215221133240
BAKKEN12-201921144015906261944169346
BAKKEN11-2019301978171789028502052506

From A Year Ago, This QEP Well Is Still A Monster Well -- January 18, 2022

I love all the folks re-tweeting the meme that operators are running out of locations to drill in the Bakken.

After reporting this incredible well, look at all the new permitted locations in the immediate area:

  • 35474, loc, QEP, MHA 2-29-30H-150-92,
  • 35473,
  • 35472,
  • 35471,
  • 35470,

 

  • 35468, loc, QEP, MHA 2-27-26H-150-92,
  • 35467,
  • 35466,
  • 35465,
  • 35464,

From a year ago

  • 35453, drl/A, QEP, MHA 7-27-26H-150-92, 33-061-04300, Van Hook, first production, 6/20; t--; cum 151K 11/20; fracked 6/18/20 - 6/26/20, see graphic; see recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202130105681061619111944459052896
BAKKEN10-20213111072109411182967735506093
BAKKEN9-202130129961313926204926910978172
BAKKEN8-202131118651170131627919053413848
BAKKEN7-202131101111008240340807450463028
BAKKEN6-2021307389737147207630746571650
BAKKEN5-20212025892711132061446809634
BAKKEN4-202114302529848554905630275
BAKKEN3-2021251554015815151741122397361487
BAKKEN2-20212819247192111972412618109681650
BAKKEN1-20213122279224772721715051130711980
BAKKEN12-20203123773237202984617381143573024
BAKKEN11-20203023599237762914718865151593706
BAKKEN10-20203128057287423481323217202882929
BAKKEN9-202028263162529345842214601129610164
BAKKEN8-20203133396338654418429753244505303
BAKKEN7-202031389303880310157726849194537396
BAKKEN6-20203655022305470547