The Million Dollar Way (The Bakken Oil Blog): 01/30/22

Sunday, January 30, 2022

10:33 P.M. CT — January 30, 2022 — WTI Just Hit $88.01

For investors, the actual price is less important than the direction/trend.

“Focus on Fracking” Has Posted — January 30, 2022

“Focus on Fracking”: this week’s edition has posted. The lede:

Oil prices hit a 7-year high, natural gas hits a 14-year high on largest one day price jump on record; natural gas supplies see largest draw this winter; gasoline inventories up most in any 4 week period since Jan 1990 as gasoline demand, excluding worst Covid drops, is at a 10 year low; gasoline imports at an 87-week low; total inventories of oil and all products made from it are at a 7-1/2-year low with Strategic Petroleum Reserve at a new 19 year low.

That NFL Overtime Rule Controversy All Last Week? Never Mind -- Kansas City Chiefs / Some Other Team Settled That Controversy This Afternoon -- January 30, 2022

On another note: when it comes to the big games, the announcers are top-notch. CBS has Tony Romo who is arguably the best in the business, perhaps taking over the mantel of John Madden, but in a different way.

Alongside Tony Romo is Jim Nantz. Joe Buck on Fox is outstanding, as is Troy Aiken, but Tony Romo has more genuine enthusiasm than Aiken. On NBC, Al Michaels and Chris Collinsworth were the best for so many years, but they are getting a bit long in the tooth as they say.

WTI: nice move up, Sunday night. Up about 1%.

Texas weather, one word: beautiful. A high of 70° this afternoon. Will be cold mid-week but nice until then. Daughter went paddle boarding on Lake Grapevine today; she said lots of activity on the lake today.

Covid-19:

upwards of 100,000 fans in American NFL stadiums today; no one wearing masks
Canada: zero in any stadium but 100's of thousands on the streets in Ottawa, no one except the cops wearing masks

Watching NFL all afternoon despite the incredibly beautify biking weather: sorry. Not sorry.

Canada: truckers across Saskatchewan headed to Ottawa; they will need to stop by "Corner Gas" to re-fuel. LOL. Link here. "Corner Gas?" Here.

Note To Mom-And-Pop Hess / Bruin Mineral Owners -- January 30, 2022

A reader sent me a note, suggesting I post this in case some mom-and-pop mineral owners missed it.

The reader noted that his/her most recent statement from HESS was less than usual.

It turns out that Enerplus acquired Hess wells in Little Knife oil field, Dunn County (and maybe elsewhere) this past summer. Those wells are now "dropped" from Hess and will end up on Enerplus statements, if I have this correct.

As of November, 2021, these wells, according to the reader, were still showing up on their Hess statement, suggesting the transfer was not completed until recently.

It's also possible, there could be a delay in Enerplus getting royalties out to mineral owners with regard to these wells during the transition.

Again, I have not confirmed this and I won't. This is just something the reader thought might be useful for mom-and-pop mineral owners who have Hess wells in Dunn County.

Along that same line, Enerplus also required Bruin assets last summer. I have no idea where that stands.

Again, this is coming from a reader.

If this is important to you do NOT rely on my blog. Go to the source. In this case: Hess, Enerplus, Bruin, and the NDIC scout tickets (which may or may not be current).

Following ISO NE Is Absolutely Fascinating -- January 30, 2022

I find this absolutely fascinating.

Boston coming off a weekend winter storm.

Sunday, the airports are open.

It's dinner time in Boston and electricity demand is probably peaking for the day.

Demand and price (8th decile):

Note: the fuel mix, absolutely fascinating.

Fuel mix:

coal, black arro: all indications -- ISO NE has run out of coal
demand is peaking:
renewable energy, green arrow: just as demand is peaking, renewable energy is "falling"; wind is crapping out;
ISO NE: is scrambling to find electricity
hydro, red arrow: being tapped; very expensive, spot price
natural gas, blue arrow: is rising
nuclear, of course, is flat-lined at max available;
but just when you need renewable energy most, it's falling (and failing)
no risk of power outages from lack of electricity: additional hydro is still available; not sure if additional oil is available; or how much additional natural gas is available;

Federal Government Helping North Dakotans With Heating Bills -- January 30, 2022

Years ago, a reader wrote to tell me that North Dakotans received more federal dollars "back" than they ever paid into federal taxes. Probably.

And it continues.

Link here.

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And Now A Supreme Court Justice

Link here.

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This Was Mentioned On The Blog Years Ago

Link here.

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Meanwhile In Canada

"We can't take it any more." Link here. The video is amazing.

Initial Production Data For Wells Coming Off The Confidential List This Next Week -- January 30, 2022

The wells:

36618, conf, Petroshale, Anderson South 2TFH, Croff, no production data,
38444, conf, Eagle Operating, Ober 20-5, Great Northern, no production data,
38421, conf, Crescent Point Energy, CPEUSC Reed 3-10-03-158N-100W-MBH, Winner, no production data,
38420, conf, Crescent Point Energy, CPEUSC Reed 2-10-03-158N-100W-MBH, Winner, no production data,
37331, conf, Hess, EN-Rice-A-155-94-0310H-5, Manitou,

Date	Oil Runs	MCF Sold
11-2021	14754	18450
10-2021	6416	8975
9-2021	24414	35412
8-2021	31169	62746

36619, conf, Petroshale, Anderson South 3MBH, Cross, no production data,
35130, conf, Enerplus, Blackwidow 149-92-32D-29H, Heart Butte,

Date	Oil Runs	MCF Sold
11-2021	6896	4189
10-2021	3548	2217
9-2021	2516	1429
8-2021	1749	713

38422, conf, Crescent Point Energy, CPEUSC Reed 4-10-03-158N-100W-MBH, Winner, no production data,
37448, conf, Koda Resources Operating, Porter 2614-2BH, Bar Butte,

Date	Oil Runs	MCF Sold
11-2021	13246	6427
10-2021	12762	737
9-2021	11486	0

38423, conf, Crescent Point Energy, CPEUSC Reed 5-10-03-158N-100W-MBH, Winner, no production data,
35131, conf, Enerplus, Huntsman 149-92-32D-29H-TF1, Heart Butte,

Date	Oil Runs	MCF Sold
11-2021	14027	8496
10-2021	32208	20107
9-2021	30964	17583
8-2021	23489	957

38424, conf, Crescent Point Energy, CPEUSC Reed 6-10-03-158N-100W-MBH-LL,
38386, conf, Hunt, Blue Ridge 159-100-6-7H3, Green Lake,

Date	Oil Runs	MCF Sold
11-2021	8306	1932

37980, conf, CLR, Clear Creek Federal 2-26HSL2, Westberg, no production data,
37913, conf, CLR, Charolais South Federal 15-10H, Elm Tree, no production data,
38385, conf, Hunt, Blue Ridge 159-100-6-7H2, Green Lake,

Date	Oil Runs	MCF Sold
11-2021	9288	2041

37981, conf, CLR, Clear Creek Federal 3-26H, Westberg, no production data,
37912, conf, CLR, Charolais South Federal 14-10H2, Elm Tree, no production data,
37332, conf, Hess, EN-Rice-A-155-94-0310H-2, Manitou,

Date	Oil Runs	MCF Sold
11-2021	14300	15615
10-2021	23719	30929
9-2021	28089	49677
8-2021	37900	41124

37982, conf, CLR, Clear Creek Federal 4-26H1, Westberg, no production data,
37911, conf, CLR, Charolais South Federal 13-19H, Elm Tree, no production data,
37910, conf, CLR, Charolais South Federal 12-10H, Elm Tree, no production data,
37983, conf, CLR, Clear Creek Federal 9-26H, Westberg, no production data,
37909, conf, CLR, Charolais South Federal 11-10H2, Elm Tree, no production data,
37986, conf, CLR, Clear Creek Federal 8-26H1, Westberg, no production data,
37908, conf, CLR, Charolais South Federal 10-10H, Elm Tree, no production data,
37984, conf, CLR, Clear Creek Federal 7026H, Westberg, no production data,
37907, conf, CLR, Charolais South Federal 9-10H1, Elm Tree, no production data,

Wells Coming Off The Confidential List This Next Week -- January 30, 2022

Monday, February 7, 2022: 22 for the month, 77 for the quarter, 77 for the year
36618, conf, Petroshale, Anderson South 2TFH,

Sunday, February 6, 2022: 21 for the month, 76 for the quarter, 76 for the year
38444, conf, Eagle Operating, Ober 20-5,
38421, conf, Crescent Point Energy, CPEUSC Reed 3-10-03-158N-
38420, conf, Crescent Point Energy, CPEUSC Reed 2-10-03-158N-100W-MBH,
37331, conf, Hess, EN-Rice-A-155=94-0310H-5,
36619, conf, Petroshale, Anderson South 3MBH,
35130, conf, Enerplus, Blackwidow 149-92-32D-29H,

Saturday, February 5, 2022: 15 for the month, 70 for the quarter, 70 for the year
38422, conf, Crescent Point Energy, CPEUSC Reed 4-10-03-158N-100W-MBH,
37448, conf, Koda Resources Operating, Porter 2614-2BH,

Friday, February 4, 2022: 13 for the month, 68 for the quarter, 68 for the year
38423, conf, Crescent Point Energy, CPEUSC Reed 5-10-03-158N-100W-MBH,
35131, conf, Enerplus, Huntsman 149-92-32D-29H-TF1,

Thursday, February 3, 2022: 11 for the month, 66 for the quarter, 66 for the year
38424, conf, Crescent Point Energy, CPEUSC Reed 6-10-03-158N-100W-MBH-LL,
38386, conf, Hunt, Blue Ridge 159-100-6-7H3,
37980, conf, CLR, Clear Creek Federal 2-26HSL2,
37913, conf, CLR, Charolais South Federal 15-10H,

Wednesday, February 2, 2022: 7 for the month, 62 for the quarter, 62 for the year
38385, conf, Hunt, Blue Ridge 159-100-6-7H2,
37981, conf, CLR, Clear Creek Federal 3-26H,
37912, conf, CLR, Charolais South Federal 14-10H2,
37332, conf, Hess, EN-Rice-A-155-94-0310H-2,

Tuesday, February 1, 2022: 3 for the month, 58 for the quarter, 58 for the year
37982, conf, CLR, Clark Creek Federal 4-26H1,
37911, conf, CLR, Charolais South Federal 13-19H,
37910, conf, CLR, Charolais South Federal 12-10H,

Monday, January 31, 2022: 55 for the month, 55 for the quarter, 55 for the year
37983, conf, CLR, Clear Creek Federal 9-26H,
37909, conf, CLR, Charolais South Federal 11-10H2,

Sunday, January 30, 2022: 53 for the month, 53 for the quarter, 53 for the year
37986, conf, CLR, Clear Creek Federal 8-26H1,
37908, conf, CLR, Charolais South Federal 10-10H,

Saturday, January 29, 2022: 51 for the month, 51 for the quarter, 51 for the year
37984, conf, CLR, Clear Creek Federal 7026H,
37907, conf, CLR, Charolais South Federal 9-10H1,