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Saturday, March 19, 2022

Calling It A Day -- See You In The Morning -- Good Luck To All -- March 19, 2022

Bloomberg

Why I don't subscribe: exhibit A.


"They" actually said that "it stings most if you earn less than $300K on an annual basis.” I don't know if they clarified whether that was "active" income or "passive" income.

Family Affairs

45th wedding anniversary dessert. 


For the main course we had salmon. One of our signature dishes is salmon. Wow, it's incredible. Two secrets: don't over-cook it; and, use a nice marinade. But use it in moderation. Start with a little and add more next time if necessary.

For years we've used Ponzu sauce as the marinade. But our favorite grocery store appears not to carry it any more, or simply they've been temporarily out of it for quite some time. So, tonight, I picked up something different, and -- wow! No more Ponzu sauce for us. Thai fish sauce. 

Back to the photo at the top: that haircut by Sophia is still lookin' good.  

March 17th is also the official date every year that I start wearing a Hawaiian shirt every day until winter some eight months from now. 

A month or so from now I hope to have a deep tan. We'll see and a lot of bike riding.

A Strobeck Well In Alger Field Is Back -- Grayson Mill -- March 19, 2022

Locator: 10029B.

I don't know the history of this well or the back story, but for me it tells me a lot about the mystery of the Bakken. All I can say is there's still a lot of work to be done in the Bakken, and this basin still has some surprises coming.

The well;

  • 22034, 2,944, Grayson Mill / Equinor / Statoil / BEXP, Strobeck 27-34 2H, Alger, t7/12; cum 284K 1/21; cum 307K 8/23;

This well was drilled back in 2012. At that time BEXP was a huge name in the Williston Basin. It was bought out by the Norwegian national oil company, Statoil, when later changed its name to Equinor, and in turn Equinor sold its Bakken assets to Grayson Mill Operating, LLC. 

When this well was drilled in 2012, an IP of 2,944 was huge. Absolutely huge. But BEXP / Statoil wells had a severe decline rate, like all the Bakken wells at that time.

Initial production:

BAKKEN1-201331806680715848739951072292
BAKKEN12-20121941253589299343079553352
BAKKEN11-201220500760782822495919892970
BAKKEN10-20123112199117067528831915466773
BAKKEN9-20123012318122657842771707717
BAKKEN8-20123124201245701546516975386113114
BAKKEN7-201258635729212475348903489

The well leveled off at 1,500 bbls / month and stayed there "forever," very, very typical of those early Bakken wells.

Then when the price of oil imploded in 2019 / 2020, the well was taken off line. This is what it looked like for almost two years, mostly "zeros":

BAKKEN7-20200010000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20200010000
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-2020001170000
BAKKEN12-20190020000

But, now, look at this. This well is back.

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202219190122321790234522694
BAKKEN12-202128298424272963375236351
BAKKEN11-2021131019158810728638185
BAKKEN10-202131324726273912317130470
BAKKEN9-202126208116604686278726830

Let's see if the file report / sundry forms provide any insight:

  • sundry form, received May 6, 2021: transfer of wells from Equinor to Grayson Mill, 1160 Dairy Ashford Rd #140, Houston, TX.
  • sundry form, received June 17, 2021: authorization to purchase and transport oil from lease

That's all there is. A big company like Equinor simply wasn't interested in these stripper wells, but a new company comes in and makes these wells work financially.

So, we will tag this for December, 2023, and see how this well is doing next year. 

One Of The Original Bakken Wells Goes Over 500K Bbls Crude Oil -- March 19, 2022

This was one of the "original Bakken" wells. Wow, those were exciting days. I'm glad I was able to be there to watch this all play out.

The well:

  • 18628, 4,357, Grayson Mill / Equinor / Staoil / BEXP, Jack Cvancara 19-18 1H, Alger, t5/10; cum 425K 9/16; cum 534K 1/22; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202231126897212202874273515
BAKKEN12-2021301209153310563073290053
BAKKEN11-2021301652195915423944380717
BAKKEN10-2021311679140216664087394320
BAKKEN9-2021301633152614694187401948
BAKKEN8-2021311694149716024009386124
BAKKEN7-2021311713190015163880373125
BAKKEN6-2021301653143014893782364022

Initial production back in 2010:

BAKKEN12-201031979485734496745456251413
BAKKEN11-201030855289334330736065745
BAKKEN10-201025953994183918759918585371
BAKKEN9-2010291425614115547913691100631835
BAKKEN8-2010311603617149655015473103932603
BAKKEN7-2010311739616290699916816139090
BAKKEN6-20103025690261681089025647186143082
BAKKEN5-20102842919412544967926176158358124

The Slawson Orca Federal Wells In Big Bend

These wells are spread across three different pads, although #35903 is on the Slawson Slasher Federal pad in the section to the west. The other wells are on the two Slawson Orca Federal pads to the east.

The wells:

  • 19916, 486, Slawson, Orca Federal 1-23-26H, Big Bend, t7/11; cum 541K 1/22; see this post; no sundry form and no data posted by Slawson to indicate this well was re-fracked; cum 566K 6/22; updated and production here;
  • 35903, 481, Slawson, Orca Federal 1 SLH, Big Bend, t10/20; cum 225K 1/22; 45 stages; 9.8 million lbs proppants; 33-061-04694. FracFocus: 14 million gallons of water; 92.1% water by mass; cum 303K 6/22;
  • 37426, loc/A, Slawson, Orca Federal 2-23-26H, Big Bend, first production, 10/21; t--; cum 73K 1/22; data posted over at FracFocus: 14.7 million gallons of water; 92.2% water mass; 46 stages; 10 million lbs of proppant; cum 195K 6/22;
  • 37424, loc/A, Slawson, Orca Federal 3-23-26H, Big Bend, first production, 11/21; t--; cum 34K 1/22; data posted over at FracFocus; cum 144K 6/22;
  • 37427, loc/A, Slawson, Orca Federal 4-23-26TFH, Big Bend, first production, 11/21; t--; cum 44K 1/22; data posted over at FracFocus; cum 112K 6/22;
  • 37425, loc/A, Slawson, Orca Federal 5-23-26TFH, Big Bend, first production, 11/21; t--; cum 44K 1/22; data posted over at FracFocus; cum 125K 6/22;
  • 37236, loc/A, Slawson, Orca Federal 6-23-26TFH, Big Bend, first production, 8/21; t--; cum 115K 1/22; data posted over at FracFocus; cum 204K 6/22;
  • 37237, loc/A, Slawson, Orca Federal 7-23-26TFH, Big Bend, first production, 8/21; t--; cum 145K 1/22; data posted over at FracFocus; cum 238K 6/22;
  • 37238, drl/A, Slawson, Orca Federal 8-23-26H, Big Bend, first production, 11/21; t--; cum 44K 1/22; data posted over at FracFocus; cum 259K 6/22;

Slawson's Original Orca Federal Goes Over 500K Bbls Crude Oil; Huge Jump In Production -- March 19, 2022

I've probably posted this well earlier, but I'm not interested in looking now. I will check later. 

The well:

  • 19916, 486, Slawson, Orca Federal 1-23-26H, Big Bend, t7/11; cum 541K 1/22;

Recent production, 18,655 bbls over 18 days extrapolates to 31,000 bbls over 30 days:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2022258163817310185383803712
BAKKEN12-2021196908697310034325503162
BAKKEN11-20213021782217122471610427010277
BAKKEN10-20213124996251903746312008011854
BAKKEN9-20212929577294775063914315014170
BAKKEN8-202118186551793938555878008692
BAKKEN7-202110063942580251
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-20210000000
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-20200000000
BAKKEN8-20200000000
BAKKEN7-20200000000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20200000000
BAKKEN3-20200000000
BAKKEN2-20209964176856378371624
BAKKEN1-202031338431311423312526140
BAKKEN12-2019202222199311661602125019
BAKKEN11-20190000000
BAKKEN10-20192116002220983171314410

When this well was drilled more than a decade ago, it was considered a great well. This was the initial production back in 2011. This well was originally fracked in July, 2011: 31 stages; 2 million lbs proppant, an incredibly small frack; FracFocus as no frack data for this well. The first frack was accomplished before FracFocus starting posting data. I don't know if this well was re-fracked in 2021.

BAKKEN9-20123010839106281644733170310
BAKKEN8-20123112638122671874788475740
BAKKEN7-20123111927121921842677964690
BAKKEN6-20123012674133472579838780870
BAKKEN5-20122811959105994678676464840
BAKKEN4-20121100000
BAKKEN3-20121846175511897211119310
BAKKEN2-20122911623113542539605957690
BAKKEN1-201231894396711918531350030
BAKKEN12-201131854585911700500946990
BAKKEN11-201125611860221442359333430
BAKKEN10-201125782273967111434740970
BAKKEN9-20112910784110162680623659460
BAKKEN8-2011311631615765639112662123520
BAKKEN7-20117462538562524247024000

Now, ten years later (see above), production, not only better than ever before, but even much better than the original / initial production. 

Coupled with the surging price of oil, Mr and Mrs Johnson (not their real names) can't wait to get the monthly royalty checks. Not only better than ever but beats the zero dollars they were getting in all of 2020 and much of 2021.

Quiet Beautiful Day In North Texas, Nothing About The Bakken --- March 19, 2022

Beautiful, beautiful day in north Texas. 

*************************
The Book Page

Wow, talk about serendipity. It's a long story, I won't bore you with the details but I finally got a hardback copy of The Rings of Saturn, W. G. Sebald, c. 1995. 

The author is German, had taught at the University at East Anglia (UK) when this book was published, He was made Professor of German, there in 1986, and was the first director of the British Centre for Translation. One wonders if he was a fan of JRR Tolkien.

The Rings of Saturn was written in German; mine, of course, is a translated version. 

Genre: they call is a "novel." 

It's not. It's "pure literature" at its best but it's not a novel.

It's a memoir written by an older gentleman who reflects on life as he walks along the southeast coast of Britain. If one likes streams of consciousness from a man who reflects on literature, with really, really good writing, it's highly recommended. 

It is amazing all the new words and new idioms I have found in just the first few pages;

That was the first chapter, all I've read so far, and now I'm re-reading the first chapter before moving on. In that first chapter the author spends quite a bit of time on Gustave Flaubert, which led me down a rabbit hole. Here's a small sampling:

******************************
The Movie Page

Rotten Tomatoes:

  • 200 best romantic comedies of all time;
    • #1: "The Philadelphia Story" with Katharine Hepburn and Cary Grant, director, George Cukor, 1940 
    • #9, "It Happened One Night" with Claudette Colbert and Clark Gable, director, Frank Capra, 1934
    • #13, "Groundhog Day" with Bill Murray -- I never considered this a romantic comedy; it's a Bill Murray classic.
  • 100 best romance movies of all time;
    • #1, "It Happened One Night" with Claudette Colbert and Clark Gable, director, Frank Capra, 1934
    • #2, "Casablanca," 1942. 
  • 100 sexiest movies of all time.
    • "Basic Instinct": #79
    •  "Troy" with Brad Pitt, #76
    • "Mr and Mrs Smith" with Angelina Jolie, Brad Pitt, #73
    • "Dirty Dancing" with Patrick Swayze, #59
    • "Eyes Wide Shut" with Nicole Kidman, Tom Cruise, #51
    • "Swimming Pool" with an older Charlotte Rampling, #37 -- fascinating
    • "Mulholland Drive" with so many; a David Lynch classic, #36
    • "Body Heat' with William Hurt, blew me away when I saw it the first time, #4
    • None of the rest interested me; except for #4 I have not seen any of the other top 35.

**********************
Family Affairs

My wife and I are celebrating our 45th wedding anniversary today.

  • Sapphire, coincidentally, happens to be my wife's second favorite gemstone.
  • Her favorite gemstone is opal, the gemstone associated with the 34th anniversary. 
  • I don't know if May has any sapphires, but she certainly has several nice opals. 

Our daughter and granddaughter Olivia are in Phoenix where Olivia's FC Dallas soccer team is playing in a tournament.

Sophia, our youngest granddaughter, stayed home with her dad. Yesterday, Sophia spent the day on the beach in nearby Grapevine Lake, TX. It's even a better today for the lake.

The oldest granddaughter, of course, is in Nashville, TN -- Vanderbilt University.

Up in Portland, OR, our younger daughter is home with husband and two-year-old twins; the twins celebrated that birthday about two weeks ago.