Friday, July 8, 2022

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.

**************************
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 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-2022272692826695291342288420143836
BAKKEN4-2022242183921957288281815615768838
BAKKEN3-2022122082420397325761533899453955
  • 38232, 2,204, MRO, Frieda 31-14TFH, Bailey, first production, 3/22; t--; cum 60K 5/22 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-2022272552725299303372235219732809
BAKKEN4-20222620174201862790317141145191173
BAKKEN3-2022121451314215277531368974705244
  • 38304, 1,622, MRO, Goth 44-11H, Bailey, first production, 3/22; t--; cum 81K 5/22 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20223128711287552194627046262120
BAKKEN4-20222626184261701982621388206320
BAKKEN3-20222626019257001522623296225360
  • 38305, 2,952, MRO, Stein 14-12TFH, Bailey, first production, 3/22; t--; cum 92K 5/22 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20223130429304693027129244283550
BAKKEN4-20222727228272992960323391226050
BAKKEN3-20222434032336153725425611246400
BAKKEN2-202220022000
  • 38306, 2,924, MRO, Ebert 14-12H, Ebert 14-12H, first production, 4/22; t--; cum 103K 5/22 --

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20223130380304213007927591267150
BAKKEN4-20222727343275512980822358215690
BAKKEN3-2022294534244787544353599134352333
BAKKEN2-202210061000
  • 38307, n/a, MRO,Emiley 14-12TFH, Ebert 14-12H, first production, 4/22; t--; cum 103K 5/22 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20223128599286063462928352275110
BAKKEN4-20222623241231393273220538198560
BAKKEN3-202223157851559226636110051054529
BAKKEN2-202210015000

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