Thursday, May 5, 2022

Slawson With Three New Permits; CLR Has Completed Three Charolais South Federal Wells -- Huge Day For EOG -- May 5, 2022

Permian gas: linked/posted earlier this morning. I have to go back and archive the entire article. It's that important. This link:

"Analysts": on twitter and oilprice I have a couple of favorite folks to follow. If they post something, it's important. 

A lot like my brother: he did not say much; he was very, very quiet but when he spoke, it was important. So, over at oilprice, Charles Kennedy. On twitter, it's RAWenergy@WAR527. The latter seldom re-posts an RBN Energy link so seeing this tells me how big a story this is. Archived.

Perfect storm:

  • EOG in the Permian
  • the Permian: a "gassier" play than the Bakken
  • Putin's War: LNG becomes an even bigger story
    • war: less than three months old
    • sanctions yet to make huge impact
    • Germany building new import terminals; floating, modular terminals will be in place by end of year, maybe before winter
  • EOG: huge 1Q22 -- compare $$$ to one year ago
  • everything suggests this is just the first inning of nine-inning game that might go into overtime
  • if one can't connect the dots here --- EOG -- KMI Permian Highway / KMI Gulf Coast Express -- Putin's War ... the more one sees, the more excited one gets -- but that special dividend of $1.80 on top of its regular quarterly dividend of 75 cents -- 
  • over at themes - 2022 -- LNG, export terminals.

Natural gas:

Link here.

This could go a long way explaining how/why EOG could declare a special dividend of $1.80 on top of a regular quarterly dividend of 75 cents.

Checking the prices:

  • WTI: $108.50.
  • natural gas: $8.834

Is anyone paying attention? Diversification is over-rated.

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Back to the Bakken

Active rigs:

$108.50
5/5/202205/05/202105/05/202005/05/201905/05/2018
Active Rigs3917256462

Three new oil and gas permits, #38930 - 3893s, inclusive:

  • Operator: Slawson
  • Field: Big Bend (Mountrail)
  • Comments:
    • Slawson has permits for three Lunker Federal wells in NWNW 33-152-91; 
      • to be sited 250 FNL and between 1150 FWL and 1300 FWL

Three producing wells (DUCs) reported as completed:

  • 38082, 3,238, Ovintiv, Rolla 152-97-1-12-5HLW, Westberg, four section, first production, 11/21; t--; cum 236K 3/22;
  • 36144, 80 (no typo -- typical for BR), BR, Phantom Shiop 3D MBH, Elidah, minimal production;
  • 30818, 141, BR, Cleetwood 31-27MBH-A, Elidah, minimal production;

Also, three CLR wells plugged or producing:

  • three Charolais South Federal wells (#37901 - #37903, inclusive)

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