Friday, January 14, 2022

Two DUCs Reported As Completed -- January 14, 2022

NE ISO: just breaking. From a reader who follows it more closely than I do -- I think he follows the Utica, Marcellus and NE the way I follow the Bakken:

The NE ISO site for 6 PM tomorrow (Day Ahead) just hit $203/Mwh for 16,702 contracted Megawatts.  
While the spot displays Real Time market circumstances, the Day Ahead (also called 'Cleared' and shown by the green line on the site's very first chart) actually provides about 90% of the amount and price that New Englanders are responsible for.

Tomorrow  looks to be viciously cold, meaning vast amounts of piped natgas will go to heating
Remaining fuel for electricity generation will mainly  be fuel oil or Trinidadian LNG which is being injected from the FSRU  anchored 14 miles off Boston harbor. 
If the cold continues much longer, replenishment 'issues' may arise. 
Comment: huge nor'eastern forecast for this weekend. Watch Shepard Smith tonight.

Canada: finally, finally, finally. Canadian oil will be the huge winner. Heavy oil will be in heavy demand. Without it, the Bakken is challenged. Mexico, a source of heavy oil, will phase out exports. 

WTI: crossed $84 (going up) today. When does Brandon announce a windfall profits tax? My hunch: June 15, 2022.

Back to the Bakken

Active rigs:

Active Rigs3211516755

No new permits.

Three permits canceled:

  • Denbury: three CHSU permits in Bowman County.

Two producing wells (DUCs) reported as completed:

  • 37919, 2,331, Slawson, Sniper Federal 3-6-7H, Big Bend, minimal production,
    • vertical hole: 18.9 hours
    • the build took 8.3 hours
    • the lateral took 37.3 hours of drilling; this was a long (2-section) lateral
    • total hours for drilling: 65 hours = 2.7 days to drill to depth
    • the lateral ranged from 11' below the upper Bakken shale down to approximately 23' below the upper Bakken shale (12-foot seam)
    • gas: peaks in excess of 2,500 units while in the middle Bakken
    • 81% of the lateral was drilled within the target zone; minimal exposure outside of the target zone;
    • frack data: fracked from 9/28/21 - 10/1021; 14.94 million gallons of water;92.27% water by mass; a big frack;
  • 33577, 1,135, Grayson Mill Operating (Equinor), Jennifer 26-35 XW 1TFH, scout ticket not udpated;
    • vertical to curve: started at 11:35 a.m. July 5, 2017, and reached at 9:40 p.m., same day; so about ten hours of drilling;
    • lateral took two runs
    • began at 5:30 a.m. July 8, 2017, TD reached on July 11, 2017.
    • so this well was drilled during the summer of 2017, and wasn't fracked until 2021
    • fracked 11/19/21 - 11/27/21; a small frack; only 7 million gallons of water; water 88.1% by mass;

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