WTI Surges Over Two Percent; Up Over $2; Trading Near $105 -- July 8, 2022

Twitter deal off: Elon Musk.

ERCOT: held, with power to spare.

• in the DFW area, hottest day so far this year: 106°F

Griner: pleads guilty.

• punishment in Russia for less than one gram of hashish / marijuana: 15 days in jail
• prosecutor: Griner had 0.702 grams
• she plead guiltys; sentenced to 15 days; time served; release and head home
• what's the big deal?

Putin: starting to sound desperate. Reminds me of the Nikita Khrushchev "we will bury you" speech.

• the most interesting data point to note: a lot of folks are asking why the Germans don't simply re-start their nuclear power plants. Even if the Germans made their decision to re-start their nuclear plants today, it would take a minimum of five years to get the "pieces in order" and then pass safety and regulatory inspections. In other words, a change in policy would not solve the problem the Germans are facing this winter.
• the best the Germans can do right now is declare "natural gas" a "green" energy -- which they have done, along with nuclear energy
  

Natural gas: a reader sent me a link to an analyst's newsletter suggesting the natural gas crisis facing Europe will eventually spread to the US, resulting in similarly high natural gas prices here in the US. The analyst's job is to sell subscriptions to his/her newsletter. In fact, any analyst who suggests a natural gas crisis in the US like that in Europe has not followed the Freeport LNG story.

• the Houston Chronicle provided an update to the Freeport LNG story today; no paywall, but I assume that is subject to change
  

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Back to the Bakken

WTI: $104.80

Active rigs: 42 or thereabouts

No new permits.

Seven permits renewed:

• Hess: six SC-JW Hamilton permits, Williams County; and, RS-State E in Mountrail County

Also, seven producing wells (DUCs) reported as completed:

• 30260, 3,115, Hess, EN-Madisyn-LE-154-94-0705H-2, Alkali Creek, no production data,
• 38231, 2,414, MRO, WR Connoly 31-14H, Bailey, first production, 3/22; t--; cum 70K 5/22 --

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	27	26928	26695	29134	22884	20143	836
BAKKEN	4-2022	24	21839	21957	28828	18156	15768	838
BAKKEN	3-2022	12	20824	20397	32576	15338	9945	3955

• 38232, 2,204, MRO, Frieda 31-14TFH, Bailey, first production, 3/22; t--; cum 60K 5/22 --
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	27	25527	25299	30337	22352	19732	809
BAKKEN	4-2022	26	20174	20186	27903	17141	14519	1173
BAKKEN	3-2022	12	14513	14215	27753	13689	7470	5244

• 38304, 1,622, MRO, Goth 44-11H, Bailey, first production, 3/22; t--; cum 81K 5/22 --
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	31	28711	28755	21946	27046	26212	0
BAKKEN	4-2022	26	26184	26170	19826	21388	20632	0
BAKKEN	3-2022	26	26019	25700	15226	23296	22536	0

• 38305, 2,952, MRO, Stein 14-12TFH, Bailey, first production, 3/22; t--; cum 92K 5/22 --
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	31	30429	30469	30271	29244	28355	0
BAKKEN	4-2022	27	27228	27299	29603	23391	22605	0
BAKKEN	3-2022	24	34032	33615	37254	25611	24640	0
BAKKEN	2-2022	2	0	0	22	0	0	0

• 38306, 2,924, MRO, Ebert 14-12H, Ebert 14-12H, first production, 4/22; t--; cum 103K 5/22 --

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	31	30380	30421	30079	27591	26715	0
BAKKEN	4-2022	27	27343	27551	29808	22358	21569	0
BAKKEN	3-2022	29	45342	44787	54435	35991	34352	333
BAKKEN	2-2022	1	0	0	61	0	0	0

• 38307, n/a, MRO,Emiley 14-12TFH, Ebert 14-12H, first production, 4/22; t--; cum 103K 5/22 --

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2022	31	28599	28606	34629	28352	27511	0
BAKKEN	4-2022	26	23241	23139	32732	20538	19856	0
BAKKEN	3-2022	23	15785	15592	26636	11005	10545	29
BAKKEN	2-2022	1	0	0	15	0	0	0