Wow, Wow, Wow -- Biden Ends Covid Testing Mandate For Americans Flying Back To The States -- June 13, 2022

Ask yourself:

• was this done based on science or for some other reason?

It's an open-book test. Good luck.

***********
The Sports Page

NBA tonight: one word — WIGGINS.

***************************
New Living Room

No Idea Why, But An Enerplus Wells Shows Small Jump In Production -- June 13, 2022

At $120 / bbl, these jumps in production are no longer trivial. Four thousand bbl at $120 = a half million dollars. Per month.

The well:

• 22575, drl-->drl/NC-->690, Enerplus, Acadia 148-95-02A-11H-TF, Eagle Nest, came off confidential list January 31, 2020; t4/20; cum 94K 9/20; a 30K month; cum 162K 5/21; cum 202K 4/22;

Recent production:

• 5,683 bbls over 22 days extrapolates to 7,750 bbls over 30 days.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2022	22	5690	5683	5875	12366	11061	248
BAKKEN	3-2022	31	7141	7121	5095	14163	12697	282
BAKKEN	2-2022	16	1756	1764	1401	3719	3301	74
BAKKEN	1-2022	25	4991	4975	3855	11001	6344	2902
BAKKEN	12-2021	30	5516	5495	4269	12192	9411	1137
BAKKEN	11-2021	29	3276	3295	4087	8835	6618	1486
BAKKEN	10-2021	31	3897	3935	4097	10109	7949	1255
BAKKEN	9-2021	30	3005	3018	3060	6089	5207	90
BAKKEN	8-2021	31	1521	1504	2273	3439	2999	46
BAKKEN	7-2021	31	1809	1819	1902	3866	3353	54
BAKKEN	6-2021	30	1907	1895	1940	3941	3386	57
BAKKEN	5-2021	4	812	862	647	1422	1192	75
BAKKEN	4-2021	28	7266	7278	7996	15994	13080	1477
BAKKEN	3-2021	19	10581	10545	7159	19998	17834	317
BAKKEN	2-2021	28	5819	5805	4532	9310	7033	1710

The EVs Today -- June 13, 2022

The usual disclaimers apply.

The EVs today:

• GM: down 8% today; trading at $32
• F: down 7%; trading  below $12
• ELMS: filing for bankruptcy protection; down over 60% today; trading at 20 cents / share;
• TSLA: down 7% today; trading at $647
• RIDE: down 6%; trading at $1.63
• GOEV: down 9%; trading at $2.78
• RIVN: down 5.5%; trading at $27

ARKK? Down 9% today. Trading at $36.58.

• 52-week high: $132.50
• 52-week low: $35.10

Update On Several CLR Florida Federal Wells In Camp Oil Field -- June 13, 2022

This page won't be updated. The CLR Florida/Florida Federal wells are tracked here. The CLR Florida wells are very good wells. 

The wells:

• 36802, drl-->drl/A, CLR, Florida Federal 6-11HSL, Camp, first production, 6/22; t--; cum 233K 4/22;
  
• 32476, ros-->drl/A, CLR, Florida Federal 7-11H1, Camp, first production, 3/21; t--; cum 258K 4/22;
  
• 32474, dr-->drl/A, CLR, Florida Federal 8-11H, Camp, first production, 3/21; t--; cum 300K 4/22;
  
• 36803, drl-->drl/A, CLR, Florida Federal 9-11H1, Camp, first production, 3/21; t--; cum 144K 4/22;
  

• 36801, drl-->drl/A, CLR, Florida Federal 6-14HSL, Camp, first production, 3/21; t--; cum 144K 4/22;
  
• 32475, drl-->drl/A, CLR, Florida Federal 7-14H1, Camp, first production, 6/21; t--; cum 105K 4/22;
  
• 32473, drl-->drl/A, CLR, Alpha 8-14H, Camp, first production, 6/21; t--; cum 150K 4/22;

ISO-NY, ISO-NE -- Trending Toward $300 / MW; Spiked To Nearly $500 / MW -- June 13, 2022

Links pending.

ISO-NE, link here.

ISO-NY, link here:

Number Of Active Rigs In North Dakota Drop Significantly; Kraken With Four New Permits -- June 13, 2022

WTI: a dime short of $121.

Spare capacity: it's amazing that this is finally being "accepted" after all these years -- the myth of spare capacity. Another tweet today: the imminent exhaustion of OPEC spare capacity will be a watershed event for the sector, and one that investors must urgently appreciate. From the Financial Post:

Now, owing to too many years of insufficient investment, as the needs of social spending and sovereign revenue dwarfed those of investing in incremental capacity during a multi-year period of low oil prices, OPEC’s spare capacity is set to become exhausted. This imminent reality will be a watershed event and has enormous implications for the oil market that investors must urgently appreciate.

We have for more than a year argued the world was hurtling into an energy crisis of epic proportions that would result in a multi-year bull market for oil. Our bullish thesis had four basic tenets: persistent demand growth for at least the next 10 years, the end of shale hyper-growth in the United States, defined as shale production growth rates that no longer exceed global demand growth, stagnant production growth from the global super-majors resulting from eight years of insufficient investment and, finally, the exhaustion of OPEC’s spare capacity.

If this these is correct, it is not too late to start accumulating shares in fossil fuel energy.

The usual disclaimer holds. This is not an investment site.

Spare capacity, link here:  

BP: goes green. Link to Tsvetana Paraskova. BP quits Canada's oil sands. Will concentrate on Canada's eastern play.

BP is divesting its last interest in Canada’s oil sands to Canadian firm Cenovus Energy as part of a portfolio reshaping that will see it buy into an offshore oil project in eastern Canada. 

BP has agreed to sell its 50-percent interest in the Sunrise oil sands project in Alberta to Cenovus Energy. 

BP’s exit from Canada’s oil sands follows other divestments from one of the most carbon-intensive oil production types, such as the ones that Shell and Equinor have made in recent years, as international oil majors look to lower their emissions profile under intense pressure from investors and campaigners. 

As part of its net-zero plan, BP has said its oil and gas production would decline by 40% by 2030 through active portfolio management.

In an earlier note, Cenovus was singled out as one of five top energy plays.

The usual disclaimer applies. This is not an investment site.

**********************
Back to the Bakken

WTI: a dime short of $121.

Active rigs in North Dakota: 35 or thereabouts; NDIC says 37 active rigs; one is drilling a carbon capture well; and one is a SWD well. That makes 35 oil and gas rigs, or thereabouts. Down significantly from 40 active rigs just last week. Most of the change may simply be rigs moving.

Four new permits, #39012 - #39015, inclusive:

• Operator: Kraken
• Field: Lone Tree Lake (Williams)
• Comments:
• Kraken has permits for three new Wilhelm wells and one new Feller, 
• to be sited in NENE 16-157-99; 
• to be sited 358 FNL and between 1219 FEL and 1318 FEL;

Active rigs: this chart has not been completely updated.

• column 1: date, June 13, 2022 -- current active rigs according to NDIC; is no date, the rig did not show up on the NDIC list
• column 2 and 3: rig, updated per NDIC data
• column 4: operator, updated per NDIC data
• columns 5 and 6: well name and file number not updated
• usual disclaimers apply: typographical and content errors will likely exist

Date	Rig	#	Operator	Well Name	File #
June 13, 2022	T&S Drilling	1	Enerplus	Vixen Federal 7-19-30TFH	38844
	Noble	1	Kraken	Raymone 16-21 2H	38728
June 13, 2022	Noble	1	IHD Liquids Mgmt	SWD
	Nabors B	1	Lime Rock	Hansen B 18-10-2TFH	38891
	T&S Drilling	2	CLR	Bonneville 7-26HSL	38819
June 13, 2022	Nabors B	2	BR	Lone Beaver 1-1-17TFH	37693
June 13, 2022	Nabors B	3	Ovintiv	Kramer..12H	38241
	Noble	4	CLR	Brangus FIU 14-11H2	37945
	Noble	4	Liberty Resources	CA S 158-93-21—23-5MBHX	38864
June 13, 2022	Nabors B	5	Neset Consulting	Halite 1	38890
June 13, 2022	Nabors B	6	BR	Curtis 44-9MBH	30924
June 13, 2022	Nabors X	10	Grayson MIll	Lloyd 34-3 5H	38816
June 13, 2022	Nabors B	13	Oasis	Rey Federal 5201 32-11 3B	38172
June 13, 2022	Stoneham	16	Zavanna	Galloway … 3TFH	29783
	Stoneham	17	Koda Resources	Stour 2918-4BH	38888
June 13, 2022	Stoneham	18	Liberty Resources	AZ W 158-93-13-24-2MBH	38415
June 13, 2022	Nabors B	18	WPX	Wounded Face 14-15HB	38434
June 13, 2022	Nabors B	20	Iron Oil	Boxcar 1-4-16H	37896
June 13, 2022	Nabors B	21	Crescent Point	CPEUSC DeFrance .. MBH	38820
June 13, 2022	Nabors B	22	Kraken	Knox LE 16-21 7H	38872
June 13, 2022	Nabors X	24	Hess	EN-Farhart-….1	38439
June 13, 2022	Nabors B	26	Oasis	Lindvig Beck Federal 5201 12-2 3B	38528
June 13, 2022	Nabors B	27	CLR	Irgens Rexall 9-19HSL 1	37291
June 13, 2022	Nabors X	27	Hess	GO-Haug-LE-156 … 1	38564
June 13, 2022	Nabors X	28	Hess	HA-Dahl…1	38425
June 13, 2022	Cyclone	35	Bowline Energy	Heen 153-104-35-26-4H	35589
June 13, 2022	True Drillinig	37	Sinclair
June 13, 2022	Cyclone	38	CLR	Bonneville 8-23H	38783
June 13, 2022	True Drillinig	39	Enerplus	Lob 149…	38693
June 13, 2022	True.	40	Enerplus	Embroider 149 …	38845
June 13, 2022	H&P	259	EOG	Rixman 24-8TFH	38708
June 13, 2022	H&P	276	Rimrock	Moccasin Creek 14-11 5TFH	38183
June 13, 2022	Patterson	280	Murex	KC-Dustin David 17-20H MB	38765
June 13, 2022	Unit	414	Slawson	Vixen Federal 6-19-30TFH	29294
June 13, 2022	H&P	429	MRO	Dunford 14-10H	38790
June 13, 2022	H&P	454	CLR	Fuller 3-2H	38367
June 13, 2022	H&P	456	CLR	Medicine Hole 11-27H1	38789
	H&P	492	CLR	LCU Foster FIU 6-28H1	38169
June 13, 2022	H&P	515	Petro-Hunt	Schultes 159.. SWD	38933
June 13, 2022	H&P	516	Ovintiv	Kramer … 12H	38245
	H&P	535	Whiting	Mariah Olson 31-1HR2	38879
June 13, 2022	H&P	640	Hunt	King 156-90-5-35H 4	38803
	Patterson	806	Whitnig	Littlefield 11-21-2HU	38856
June 13, 2022	Patterson	808	Whiting	Rohde Federal 14-6-3XH	38739
	Patterson	811	Grayson Mill	Domaskin 30-31 9H	36875
June 13, 2022	Patterson	901	CLR	Clear Creek …26H2	37985