Pages

▼

Sunday, March 13, 2022

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.

at No comments:

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;
DateOil RunsMCF Sold
1-20223323835377
12-20213689327514
11-20213068530929
  • 34235, conf, Oasis, Borden Federal 5300 34-36 7B, Willow Creek, first production, 11/21; t--; cum 100K 1/22;
DateOil RunsMCF Sold
1-20223161831957
12-20213563326714
11-20213103033192
  • 34236, conf, Oasis, Borden Federal 5300 34-36 6BX, Willow Creek, first production, 11/21; t--; cum 100K 1/22;
DateOil RunsMCF Sold
1-20222675428206
12-20212896520088
11-20211898919598
at No comments:

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;
DateOil RunsMCF Sold
1-20225104076756
12-20212677742919
9-20213080
  • 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;
DateOil RunsMCF Sold
1-20224358177516
12-20212757740493

  • 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;
DateOil RunsMCF Sold
1-20224344465296
12-20212729937341
9-20212260
  • 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;
DateOil RunsMCF Sold
1-20224342467006
12-20212609834193
9-20211330

  • 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;
DateOil RunsMCF Sold
1-20223785769929
12-20212045238603
9-20215910

at No comments:

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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2022313679936756333881048181048180
BAKKEN12-202131390763907546829105371105197174
BAKKEN11-2021899349611121962471424607107
  • 38210, drl/drl, Ovintiv, Rolla 152-97-1-12-13H, Westberg, first production, 11/21; t--; cum 77K 1/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-20223136393363104050679944799440
BAKKEN12-2021313373233686519346990369788115
BAKKEN11-202187203696915876169141684173
  • 38082, drl/drl, Ovintiv, Rolla 152-97-1-12-5HLW, Westberg, first production, 11/21; t--; cum 134K 1/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2022315874658668278991276611276610
BAKKEN12-202131610426101228899119074118877197
BAKKEN11-20218146451416848982723727120117
  • 38300, drl/drl, Ovintiv, Rolla 152-97-1-12-20HLW, Westberg, first production, 11/21; t--; cum 95K 1/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2022314119241140522171008851008850
BAKKEN12-2021314307643059611399668396523160
BAKKEN11-20218104821014111716230012290299

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-20223118269184891069842297422970
BAKKEN12-202131202272028415757492501130637665
BAKKEN11-2021171341013135117742366423219308
BAKKEN10-20211062282258547750
BAKKEN9-20213010731156409317529050
BAKKEN8-202131710897400276524860
BAKKEN7-20213116971498664334730680
BAKKEN6-20212229102133291340
BAKKEN5-202124353584270191017080
BAKKEN4-2021301039889153312728570
BAKKEN3-2021319421204163256022810
BAKKEN2-202128751629323301427710
BAKKEN1-202131853932648438441050
  • 24453, 1,453, Ovintiv, Rolla State 152-97-1-1H, Westberg, t4/13; cum 158K 1/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202231235223555886519351930
BAKKEN12-202131386238548769869684170
BAKKEN11-202119524353017983918790210
BAKKEN10-20214460582550
BAKKEN9-202130596567227206917990
BAKKEN8-202131665784370242121420
BAKKEN7-202131888864348269024092
  • 24454, 1,382, Ovintiv, Rolla State 152-97-1-12-2H, Westberg, t4/13; cum 286K 1/22; full production here.
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-20223110802106771147326690266900
BAKKEN12-20213115847160391689828095278160
BAKKEN11-202119769477421538313053128852
BAKKEN10-20211445155839231221990
BAKKEN9-20213011411124438611058400
BAKKEN8-20213110021145568806577860
BAKKEN7-20213116201554643770574260
BAKKEN6-2021301192973295690366330
BAKKEN5-202131119512422026403610420

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.

at No comments:

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;

at No comments:

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.

at No comments:

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

Link here.

at No comments:

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.

at No comments:

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.

at 4 comments:

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?

at No comments:

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?

at No comments:

Channel Stuffing -- Tesla -- Mardh 13, 2022

I track EVs here.

Investopedia:
Wiki entry:
Tesla: link here.

at No comments:

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?

at No comments:

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,
DateOil RunsMCF Sold
1-20222010628159
12-20211747824499
11-20212582235466
10-20212891627432
9-20213043024453

at No comments:

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,
DateOil RunsMCF Sold
1-20224344465296
12-20212729937341
9-20212260
  • 36868, conf, CLR, LCU Truman 12-23H1, Long Creek,
DateOil RunsMCF Sold
1-20224342467006
12-20212609834193
9-20211330
  • 38497, conf, CLR, Whitman FIU 10-34H, Oakdale, no production data, 
  • 36869, conf, CLR, LCU Truman 13-23HSL, Long Creek
DateOil RunsMCF Sold
1-20223785769929
12-20212045238603
9-20215910
  • 38496, conf, CLR, Whitman FIU 9-34H2, Oakdale, no production data, 
  • 38495, conf, CLR, Whitman FIU 8-34H, Oakdale, no production data,
at No comments:

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

The wells:

  • 36867, conf, CLR, LCU Truman 11-23H, Long Creek,
DateOil RunsMCF Sold
1-20224344465296
12-20212729937341
9-20212260
  • 34068, conf, Enerplus, Spider 149-92-23D-29H-TF1, Heart Butte,
DateOil RunsMCF Sold
1-202262733229
12-202171033657
11-2021144338769
10-2021157949884
9-202141042330
  • 38450, conf, CLR, Jack 9-9HSL, Chimney Butte,
DateOil RunsMCF Sold
1-20222197113970
12-2021110217187
  • 38519, conf,  Hunt, Halliday 146-93-24-36H 1, Werner,
DateOil RunsMCF Sold
1-20223050
  • 38453, conf, Slawson, Lightning Federal 3-24-13H, Big Bend, no production data, 
  • 36868, conf, CLR, LCU Truman 12-23H1, Long Creek,
DateOil RunsMCF Sold
1-20224342467006
12-20212609834193
9-20211330
  • 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
DateOil RunsMCF Sold
1-20222519837367
12-20212263933417
11-20213255047308
10-20213449050114
9-20212797234704
  • 36869, conf, CLR, LCU Truman 13-23HSL, Long Creek
DateOil RunsMCF Sold
1-20223785769929
12-20212045238603
9-20215910
  • 38558, conf, Kraken, Maddie LW 100-15-22-1H, Ellisville, no production data, 
  • 38522, conf, Hunt, Halliday 146-93-24-36H1, Werner,
DateOil RunsMCF Sold
1-2022160128118
  • 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,
DateOil RunsMCF Sold
1-20222010628159
12-20211747824499
11-20212582235466
10-20212891627432
9-20213043024453
  • 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,

at No comments: