And We're Off -- March Madness More Meaning Than Ever -- March 13, 2022

The photo below, to the left, was sent to me by my brother-in-law who lives in Huntington Beach, CA.

The Canadians had their convoy. Americans are going to have their slappers. My hunch: the "Biden" slappers are going to be around a lot longer.

Random Update Of Oasis Borden Federal Wells Starting To Be Reported -- March 13, 2022

The Oasis Borden Federal wells are tracked here. Production is starting to be reported. 

• 34234, conf, Oasis, Borden Federal 5300 34-36 8B, Willow Creek, first production, 11/21; t--; cum 100K 1/22;

Date	Oil Runs	MCF Sold
1-2022	33238	35377
12-2021	36893	27514
11-2021	30685	30929

• 34235, conf, Oasis, Borden Federal 5300 34-36 7B, Willow Creek, first production, 11/21; t--; cum 100K 1/22;

Date	Oil Runs	MCF Sold
1-2022	31618	31957
12-2021	35633	26714
11-2021	31030	33192

• 34236, conf, Oasis, Borden Federal 5300 34-36 6BX, Willow Creek, first production, 11/21; t--; cum 100K 1/22;

Date	Oil Runs	MCF Sold
1-2022	26754	28206
12-2021	28965	20088
11-2021	18989	19598

Update Of Several Wells In CLR's Long Creek Unit -- Nice Wells -- March 13, 2022

CLR's Long Creek Unit is tracked here.

The wells:

• 36865, drl/NC-->1,536 (reported January 7, 2022), LCU Truman 9-23H, drl status noted 11/5/19; drl/NC, noted 6/17/21; first production noted, 5 days in 9/21; big production, 1/22;

Date	Oil Runs	MCF Sold
1-2022	51040	76756
12-2021	26777	42919
9-2021	308	0

• 36866, drl/NC--> 1,848 (reported January 7, 2022), LCU Truman 10-23H1, drl status noted 11/6/19; drl/NC, noted 6/17/21; first production noted, 5 days in 9/21; big production, 1/22;

Date	Oil Runs	MCF Sold
1-2022	43581	77516
12-2021	27577	40493

• 36867, drl/NC, LCU Truman 11-23H, drl status noted 11/9/19; drl/NC, noted 6/17/21; first production noted, 5 days in 9/21; big production, 1/22;

Date	Oil Runs	MCF Sold
1-2022	43444	65296
12-2021	27299	37341
9-2021	226	0

• 36868, drl-->conf, LCU Truman 12-23H1, drl status noted 11/11/19; 6398-acre drilling unit (10 sections); drl/NC, noted 8/24/21; first production noted, 5 days in 9/21; big production, 1/22;

Date	Oil Runs	MCF Sold
1-2022	43424	67006
12-2021	26098	34193
9-2021	133	0

• 36869, drl-->conf, LCU Truman 13-23HSL, drl status noted 11/12/19; 6398-acre drilling unit (10 sections); drl/NC, noted 8/24/21; first production noted, 5 days in 9/21; big production, 1/22;

Date	Oil Runs	MCF Sold
1-2022	37857	69929
12-2021	20452	38603
9-2021	591	0

The Ovintiv Rolla Wells In Westberg Oil Field

Original Post 

Wow, wow, wow, the Bakken never ceases to amaze me. 

On my way to looking up something else, I came across this.

 Bear with me. This is going to be a long note. 

First of all these wells have been completed and are producing. The NDIC map is not up to date, See graphics below. 

I shouldn't have to point out that these are incredible wells. 

The wells:

• 38209, drl/drl, Ovintiv, Rolla 152-97-1-12-6H, Westberg, first production, 11/21; t--; cum 86K 1/22;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	36799	36756	33388	104818	104818	0
BAKKEN	12-2021	31	39076	39075	46829	105371	105197	174
BAKKEN	11-2021	8	9934	9611	12196	24714	24607	107

• 38210, drl/drl, Ovintiv, Rolla 152-97-1-12-13H, Westberg, first production, 11/21; t--; cum 77K 1/22;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	36393	36310	40506	79944	79944	0
BAKKEN	12-2021	31	33732	33686	51934	69903	69788	115
BAKKEN	11-2021	8	7203	6969	15876	16914	16841	73

• 38082, drl/drl, Ovintiv, Rolla 152-97-1-12-5HLW, Westberg, first production, 11/21; t--; cum 134K 1/22;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	58746	58668	27899	127661	127661	0
BAKKEN	12-2021	31	61042	61012	28899	119074	118877	197
BAKKEN	11-2021	8	14645	14168	4898	27237	27120	117

• 38300, drl/drl, Ovintiv, Rolla 152-97-1-12-20HLW, Westberg, first production, 11/21; t--; cum 95K 1/22;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	41192	41140	52217	100885	100885	0
BAKKEN	12-2021	31	43076	43059	61139	96683	96523	160
BAKKEN	11-2021	8	10482	10141	11716	23001	22902	99

The graphics:

Now, look at the graphics again.

Pay attention to the three older wells "in the box" in the upper graphic. These wells are older and are offset to the east of the newer wells. The newer wells run parallel to these older horizontal wells. I've included the most recent production numbers for these wells to show the halo effect but will post the full production profile elsewhere.

The halo effect:

• 24452, 999, Ovintiv, Rolla State 152-97-1-12-10H, Westberg, t5/13; cum 235K 1/22; full production profile here.
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	18269	18489	10698	42297	42297	0
BAKKEN	12-2021	31	20227	20284	15757	49250	11306	37665
BAKKEN	11-2021	17	13410	13135	11774	23664	23219	308
BAKKEN	10-2021	10	62	282	25	854	775	0
BAKKEN	9-2021	30	1073	1156	409	3175	2905	0
BAKKEN	8-2021	31	710	897	400	2765	2486	0
BAKKEN	7-2021	31	1697	1498	664	3347	3068	0
BAKKEN	6-2021	22	291	0	213	329	134	0
BAKKEN	5-2021	24	353	584	270	1910	1708	0
BAKKEN	4-2021	30	1039	889	153	3127	2857	0
BAKKEN	3-2021	31	942	1204	163	2560	2281	0
BAKKEN	2-2021	28	751	629	323	3014	2771	0
BAKKEN	1-2021	31	853	932	648	4384	4105	0

• 24453, 1,453, Ovintiv, Rolla State 152-97-1-1H, Westberg, t4/13; cum 158K 1/22;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	2352	2355	5886	5193	5193	0
BAKKEN	12-2021	31	3862	3854	8769	8696	8417	0
BAKKEN	11-2021	19	5243	5301	7983	9187	9021	0
BAKKEN	10-2021	4	46	0	5	82	55	0
BAKKEN	9-2021	30	596	567	227	2069	1799	0
BAKKEN	8-2021	31	665	784	370	2421	2142	0
BAKKEN	7-2021	31	888	864	348	2690	2409	2

• 24454, 1,382, Ovintiv, Rolla State 152-97-1-12-2H, Westberg, t4/13; cum 286K 1/22; full production here.
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	31	10802	10677	11473	26690	26690	0
BAKKEN	12-2021	31	15847	16039	16898	28095	27816	0
BAKKEN	11-2021	19	7694	7742	15383	13053	12885	2
BAKKEN	10-2021	14	451	558	39	2312	2199	0
BAKKEN	9-2021	30	1141	1124	438	6110	5840	0
BAKKEN	8-2021	31	1002	1145	568	8065	7786	0
BAKKEN	7-2021	31	1620	1554	643	7705	7426	0
BAKKEN	6-2021	30	1192	973	295	6903	6633	0
BAKKEN	5-2021	31	1195	1242	202	6403	6104	20

Maybe more later. There's one more data point from the above information that should be discussed. But I won't. I would get too much push back. LOL.

Several Whiting Tarpon Federal Wells Recently On The "AB" List Have Now Been Put Back Into Production -- March 13, 2022 -- Updated November 27, 2022

Updates

November 27, 2022: back in March, 2022 -- just a few months ago -- updated these wells -- see "original post" below. Today, the wells that were still "AB" back in March, 2022, have been updated. The original post has production data updated.

Original Post

This is fairly interesting. The Whiting Tarpon Federal wells are tracked here. 

There are twenty-six (?) Tarpon Federal wells according to the NDIC map. All have been completed and have a record of production, though some are still recorded as SI/A on the scout tickets. 

Of the several dozen Tarpon Federal wells, the following were put on the AB list in the last year or so. 

On 3/21, some of them were returned to production. Many are still on the AB list. It will be interesting to see if these AB wells are also put back into production.

I've placed an asterisk in front of all the previously "AB" wells that have been returned to production in the past year:

• 29200, A/AB/IA/2,468, Whiting, Tarpon Federal 44-19-3RTF, Sand Creek, t2/15; cum 140K 10/19; remains off line 2/21; back on line 4/22; huge jump in production; cum 152K 9/22;
  
• 29199, A/AB/IA/3,238, Whiting, Tarpon Federal 44-19-1RH, Sand Creek, 30 stages, 3.7 million lbs, t2/15; cum 196K 10/19; remains off line 2/21; back on line 4/22; jump in production; cum 208K 9/22;
• 28496, A/AB/IA/2,959, Whiting, Tarpon Federal 24-20-3RTF, Sand Creek, 62 stages, 2.5 million lbs, t1/15; cum 188K 10/19; off line most of 10/19; remains off line 2/21; back on line 3/21; cum 210K 1/22; cum 215K 9/22;
  
• *****28495, A/AB/IA/3,606, Whiting, Tarpon Federal 24-20-2RH, Sand Creek, 90 stages, 3.5 million lbs, t1/15; cum 183K 10/19; off line most of 10/19; remains off line 2/21; back on line 3/21; cum 210K 1/22; this one is interesting, had been on the AB list but is now active again; cum 222K 9/22;
  
• *****28494, A/AB/IA/3,125, Whiting, Tarpon Federal 24-20-2RTF, Sand Creek, sundry form says "Middle Bakken," 30-stage, NOS, producing, strange production profile; 32K first month (12/14); 285 bbls second month; t12/14 cum 152K 10/19; off line most of 10/19; remains off line 2/21; back on line 3/21; this one is interesting, had been on the AB list but is now active again; cum 161K 1/22; cum 168K 9/22;
  
• *****28493, A/AB/IA/3,444, Whiting, Tarpon Federal 24-20-1RTF, Sand Creek, Three Forks B1, a strange production profile; 32K first month (12/14); 285 bbls second month; t12/14; cum 172K 10/19; off line for most of 10/19; remains off line 2/21; back on line 3/21; cum 182K 1/22; cum 184K 9/22;
  
• 28492, A/IA/4,371, Whiting, Tarpon Federal 24-20-1H, Sand Creek, a strange profile, 42K first month (12/14); 378 bbls second month; t12/14; cum 259K 2/21; off line for most of 19/19; remains off line 2/20; back on line 5/20; cum 273K 1/22; cum 280K 9/22;
  
• 27413, A/IA/3,131, Whiting, Tarpon Federal 44-19TFHU, Sand Creek, Three Forks B1, 37 stages, 3.9 million lbs, t2/15 cum 193K 10/19; offline; remains off line 2/21; intermittent production 11/20; back on line 11/21; cum 197K 1/22; cum 208K 9/22;
  
• 22554, AB/IA/2,274, Whiting, Tarpon Federal 44-19-1RTF, Sand Creek, "R" for revised, not re-entry; sundry form says target is "Bakken," NOS; 30 stages, 3.2 million lbs, t2/15; cum 218K 10/19; off-line much of the time; remains off line 2/21; remains off line 1/22; cum 230K 9/22;
  
• 22555, A/AB/IA/3,259, Whiting, Tarpon Federal 44-199-2RTF, Sand Creek, one sundry form had Three Forks typed in, but it was inked out and replaced with Bakken, the original permit also showed "Bakken"; 30 stages, 3.5 million lbs, t2/15; cum 167K 10/19; off-line much of the time;  off line 2/21; remains off line 1/22; back on line; cum 172K 9/22;
  
• *****22556, A/AB/IA/2,967, Whiting, Tarpon Federal 44-19-2RH, Sand Creek, 30 stages, 3.9 million lbs, t2/15; cum 199K 10/19; remains off line 2/21; back on line 1/22; cum 201K 1/21; cum 215K 9/22;
• 22361, 4,971,  Whiting, Tarpon Federal 21-4-3H, t12/12, Twin Valley; t12/12; cum 607K 11/21; cum 607K 1/22; cum 607K 9/22; production coming to an end?
  
• 22360, 1,394, Whiting, Tarpon Federal 21-4-1H, t12/12, Twin Valley; t12/12; cum 265K 11/21; cum 265K 1/22; off line 12/21; now back on line, cum 266K 9/22;
  
• 20589, 4,815, Whiting, Tarpon Federal 21-4H, t10/11, Twin Valley, t10/11; cum 639K 11/21; off line 8/19; back on line 12/20; cum 640K 1/21; cum 645K 9/22;
  

The Dreaded Bakken Decline Rate -- March 13, 2022

The Whiting Tarpon Federal wells have just been updated. Whiting's Tarpon Federal wells are tracked here.

Link here.

Perhaps more to follow, perhaps not.

Tom Brady Returning To The Bucs? Being Reported -- March 13, 2022

Link here.

Supply Bottlenecks Easing Up? Mixed Signals -- March 13, 2022

Just links for now:

Link one: freight rates are still high but apparently container ships are still stuck at the ports.

Link two:  US monthly container ship entries -- lowest since 2015.

Link three: Container ship exits from Chinese ports remained at the lowest level so the ports at Long Beach and Los Angeles had time to ease the congestion. 

Unrelated but interesting: the source does not say, but I assume these are Class 8 tractors, the ones that pull semis, the 18-wheelers. Link here.

Reader: Who Might Buy XOM's Assets In The Bakken? March 13, 2022

Updates

October 11, 2024: XTO transferring Williams County wells to CLR.

February 23, 2023: the reader was exactly correct. The reader noted that CLR was likely to acquire some XTO wells back in 2022 (in this case, the Christiana wells in West Capa) and that's exactly what transpired.

February 22, 2023: a huge "thank you" to the reader who alerted me to the Kiefel wells. I much appreciate the back story. I am always amazed how many lives my brother touched.

February 22, 2023: see comments. It appears the the two CLR Kiefel wells (#38985 and #38986) have been drilled to depth, the wells have not yet been fracked. If already fracked, the paperwork has not yet caught up, but one would expect "runs" to be reported if the wells had already been fracked. See this note.

August 7, 2022: reader suggests CLR will acquire XTO Christiana wells in West Capa. I haven't seen "change of ownership" over at NDIC yet.

Original Post 

A reader asked if I had any thoughts on who might buy XOM's assets in the Bakken?

My brief, not-ready-for-prime-time reply:

No idea. Unless they break it up, it would have to be someone with deep pockets. Even CLR / Harold Hamm couldn’t handle but I bet he’s looking.

COP (BR) is in the Bakken; they have deep pockets and (XTO) does have decent locations. 

More likely, private equity but I can’t believe XOM will get top price. If priced too high, folks would prefer the Permian.

See poll at sidebar at the right. Feel free to write me or comment with ideas. I should have added MRO, but I'm not going to change the poll.

The Book And Movie Page: There Will Be Blood -- March 13, 2022

For now, just the links.

Link one: Sunday reading.

Link two: "Battle of the Century"

Link three: What's Wrong With There Will Be Blood?

Apple, The PGA -- March 13, 2022

The Apple Page

iPhone chips: only the iPhone 14 Pro models will have the "A16" chip, while the standard iPhone 14 models will retain the A15 Bionic chip from the iPhone 13, according to insightful Apple analyst Ming-Chi Kuo.

Big screens: Apple has removed the 27-inch LG UltraFine 5K display that was previously a Mac user's go-to option for external monitors from its online store following the launch of the Studio Display.

The Sports Page
The PGA This Weekend
The Champions Tournament

Saudi Arabia beheads 81 -- largest mass execution in modern times.

One wonders if Phil gave any thought to this?

Observations from the NBC coverage of the first and second round PGA Champions tournament this past week:

• Phil not mentioned, not once.
• Phil not playing.
• Saudi Arabia king orders 81 beheadings; does this beat "Bloody Mary's" record? Asking for a friend.
• Patrick Reed never mentioned; not even sure if there were any video shots of Reed playing
• Brandel Chamblee's golf record not mentioned; most viewers probably don't even know he played golf:
  

His career highlights include victories at the 1998 Greater Vancouver Open on the PGA Tour and the 1990 Ben Hogan New England Classic on the Web.com Tour. He also shared the first-round lead at the Masters in 1999 and finished within the top-100 on the PGA Tour money list for seven consecutive years. 

Later: now, in the third round, late Sunday night, 24 hours after Brandel made his comments, he looks even more "wrong" (for lack of a better word). What a doofus. This course played incredibly easy for a premier championship event. Incredibly easy. Worse, without the "excitement of hole #17 there would have no interest in watching this telecast. Hole #17 held the interest of many viewers. It certainly held my interest, and may be the only reason I watch its conclusion. On top of that, in the post play interviews, not one player said back things about hole #17. Chamblee was so far off "target," one wonders what made him so upset. My hunch: his nemesis made pars on the hole and one player actually birdied hole #17 twice (round 1 and round 2), but that player was not a darling of the NBC or PGA crew. 

Later: NBC has shown almost "everyone" on hole #17. Patrick Reed is currently on the 15th. One wonders if NBC will film Reed on the 17th?

Channel Stuffing -- Tesla -- Mardh 13, 2022

I track EVs here.

Investopedia:
Wiki entry:
Tesla: link here.

North Dakota Shale Operators: Tax Bill Coming Due? This Was Not On Their Bingo Card -- March 13, 2022

Folks may not remember but the state gave a tax break to North Dakota shale operators ... but the bill might be coming due. 

Link to social media. Direct to The Bismarck Tribune. Much more at the link but this is all I need to know now:

The price-triggered tax increase would swell state tax collections by $372 million to $4.09 billion for the 2021-23 budget cycle, according to a revenue analysis done this month by the Legislative Council, which is the research arm of the North Dakota Legislature.

It’s part of a measure lawmakers passed in 2015 that abolished some price-based incentives for the oil industry in exchange for a lower oil tax rate -- from 11.5% to 10%. But the bill also raised the total oil tax to 11% if oil prices rise to $90 a barrel for three consecutive months.

As for me, much ado about nothing. Sometimes I just shake my head, as they say. 

*******************************
Access To Capital

This is much more interesting. Link here.

"Imagine Apple simultaneously generating tons of free cash flow, buying back stock and paying a special dividend and complaining about lack of access to capital.

Writer doesn't see any large oil and gas company complaining about needing more capital but it's a talking point regardless."

***************************
Buffett And OXY

Something to talk about. 

Warren Buffett is tracked here.

One link: CNBC overview. 

In the money. 

************************
For The Archives: A Reminder

Is this why US shale operators are not drilling?

Hess Will Be Reporting A Great Alkali Creek This Next Week -- March 13, 2022

The well:

• 37708, conf, Hess, EN-Johnson A-155-94-2932H-6, Alkali Creek,
  

Date	Oil Runs	MCF Sold
1-2022	20106	28159
12-2021	17478	24499
11-2021	25822	35466
10-2021	28916	27432
9-2021	30430	24453

Initial Production For CLR Wells Coming Off Confidential List This Next Week -- March 13, 2022

See if you see what I see (hint: previously discussed).

The wells:

• 36867, conf, CLR, LCU Truman 11-23H, Long Creek,

Date	Oil Runs	MCF Sold
1-2022	43444	65296
12-2021	27299	37341
9-2021	226	0

• 36868, conf, CLR, LCU Truman 12-23H1, Long Creek,

Date	Oil Runs	MCF Sold
1-2022	43424	67006
12-2021	26098	34193
9-2021	133	0

• 38497, conf, CLR, Whitman FIU 10-34H, Oakdale, no production data, 
• 36869, conf, CLR, LCU Truman 13-23HSL, Long Creek
  

Date	Oil Runs	MCF Sold
1-2022	37857	69929
12-2021	20452	38603
9-2021	591	0

• 38496, conf, CLR, Whitman FIU 9-34H2, Oakdale, no production data, 

• 38495, conf, CLR, Whitman FIU 8-34H, Oakdale, no production data,

Initial Production For Wells Coming Off Confidential List This Week -- March 13, 2022

The wells:

• 36867, conf, CLR, LCU Truman 11-23H, Long Creek,

Date	Oil Runs	MCF Sold
1-2022	43444	65296
12-2021	27299	37341
9-2021	226	0

• 34068, conf, Enerplus, Spider 149-92-23D-29H-TF1, Heart Butte,
  

Date	Oil Runs	MCF Sold
1-2022	6273	3229
12-2021	7103	3657
11-2021	14433	8769
10-2021	15794	9884
9-2021	4104	2330

• 38450, conf, CLR, Jack 9-9HSL, Chimney Butte,
  

Date	Oil Runs	MCF Sold
1-2022	21971	13970
12-2021	11021	7187

• 38519, conf,  Hunt, Halliday 146-93-24-36H 1, Werner,
  

Date	Oil Runs	MCF Sold
1-2022	305	0

• 38453, conf, Slawson, Lightning Federal 3-24-13H, Big Bend, no production data, 
• 36868, conf, CLR, LCU Truman 12-23H1, Long Creek,
  

Date	Oil Runs	MCF Sold
1-2022	43424	67006
12-2021	26098	34193
9-2021	133	0

• 38497, conf, CLR, Whitman FIU 10-34H, Oakdale, no production data, 
• 38452, conf, Slawson, Howitzer 3-25H, Big Bend, no production data, 
• 37709, conf, Hess, EN-Johnson A-155-94-2932H-7, Alkali Creek

Date	Oil Runs	MCF Sold
1-2022	25198	37367
12-2021	22639	33417
11-2021	32550	47308
10-2021	34490	50114
9-2021	27972	34704

• 36869, conf, CLR, LCU Truman 13-23HSL, Long Creek
  

Date	Oil Runs	MCF Sold
1-2022	37857	69929
12-2021	20452	38603
9-2021	591	0

• 38558, conf, Kraken, Maddie LW 100-15-22-1H, Ellisville, no production data, 
• 38522, conf, Hunt, Halliday 146-93-24-36H1, Werner,
  

Date	Oil Runs	MCF Sold
1-2022	16012	8118

• 38496, conf, CLR, Whitman FIU 9-34H2, Oakdale, no production data, 
• 38451, conf, Slawson, Rainmaker Federal 6-25-36TFH, Big Bend, no production data, 
• 38510, conf, Kraken, Jenna LE 4-33-28 1TFH, Burg, no production data, 
• 38509, conf, Kraken, Jenna 4-33-28 3H, Burg, no production data, 
• 37708, conf, Hess, EN-Johnson A-155-94-2932H-6, Alkali Creek,
  

Date	Oil Runs	MCF Sold
1-2022	20106	28159
12-2021	17478	24499
11-2021	25822	35466
10-2021	28916	27432
9-2021	30430	24453

• 38511, conf, Kraken, Alamo 3-34-27, Burg, no production data, 
• 38495, conf, CLR, Whitman FIU 8-34H, Oakdale, no production data, 
• 38364, conf, Petro-Hunt, Boss 154-99-18C_21-1HS, Stockyard Creek, no production data,