Thursday, August 18, 2022

Just A Thought — August 18, 2022

The English language is peculiar, as I suppose all languages are, but as an English example:

“This weather is not atypical” does not mean “this weather is typical.”

Or does it?

For me, the two sentences mean (slightly) different things. Even if slight, still a significant difference.

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Gasoline Demand Is So High, Pipelines Are Full --- And Yet, EIA Tells US Gasoline Demand Is At Levels Seen During The Winter -- August 18, 2022





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Small Jump In Production -- Krakken -- Marcy Wells -- Oliver -- August 18, 2022

The well:

  • 22580, 240, Kraken, Marcy 3-24H, Oliver, t8/12; cum 165K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-2022199171112229815131140238
BAKKEN5-2022231246135228911433116893
BAKKEN4-202220101987722831376110336
BAKKEN3-20223117101627388923081751185
BAKKEN2-20222815221631359025111972133
BAKKEN1-20223116471844426422811641193
BAKKEN12-20213115151339438820991582146
BAKKEN11-20213013891373468616671134173
BAKKEN10-2021301046109147571255613344
BAKKEN9-20213090787455101089734130
BAKKEN8-20213112491308668719991040773
BAKKEN7-20211031201849562116407
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-20210000000
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20208522096610408
BAKKEN9-2020222322183423990234
BAKKEN8-2020313222224685540400
BAKKEN7-2020182442283544200330

The well:

  • 21014, 472, Kraken, Marcy 1-24H, Oliver, t12/11; cum 213K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20223034213485712039343557167
BAKKEN5-20222224482670584128152378269
BAKKEN4-20221922151968451726912163301
BAKKEN3-20223132183007896840233134517
BAKKEN2-20221490191630721307842265
BAKKEN1-20223022452528746732552630192
BAKKEN12-20213118981783788826572107183
BAKKEN11-20213013151105724015781101117
BAKKEN10-202131809849773384946079
BAKKEN9-20211413803398145041
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-20210000000
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-20200000000
BAKKEN8-20207672222870035
BAKKEN7-2020313572201383750220
BAKKEN6-2020303646781743820172
BAKKEN5-20203039702064170196
BAKKEN4-2020304404572187960451
BAKKEN3-2020293714472026710323
BAKKEN2-2020293764822906800304
BAKKEN1-2020314874604668810431
BAKKEN12-20193159947539810830635

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Small Jump In Production -- Whiting KR State -- Sanish -- August 18, 2022

The well:

  • 18762, 1,146, Whiting, KR State 11-16TFH, Sanish, t6/10; cum 254K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-2022221436142718671093102228
BAKKEN5-20223115241656289212831090131
BAKKEN4-202230176217502843903606238
BAKKEN3-202231174217333178954623269
BAKKEN2-2022281561152828701401589756
BAKKEN1-2022311664158337111436563811
BAKKEN12-20213115811604479514772401175
BAKKEN11-2021301366126953731290460770
BAKKEN10-2021268017543993880580250
BAKKEN9-20211151444261114
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210070000
BAKKEN4-2021231676447470
BAKKEN3-20213171275895410589960
BAKKEN2-20212865962910319188620
BAKKEN1-202131780811104910399761
BAKKEN12-2020317306911120111910570
BAKKEN11-20203069770288210549940
BAKKEN10-2020316866859709979350
BAKKEN9-2020305345399199739150
BAKKEN8-20203162458611451238113541
BAKKEN7-20203151755111011157106530

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Small Jump In Production -- WPX Packineau Wells -- August 18, 2022

The well:

  • 20236, 824, WPX, Packineau 15-32H, Heart Butte, t6/11; cum 351K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230246324333366358834230
BAKKEN5-202231249125113354294327693
BAKKEN4-202230240223943541186717020
BAKKEN3-2022312629270834771995174777
BAKKEN2-20222819991985301115171240123
BAKKEN1-2022311485142719551127546410
BAKKEN12-20210000000
BAKKEN11-2021300190000
BAKKEN10-20213121342145561316201137312
BAKKEN9-20213027372769767020781611302
BAKKEN8-2021316357610014554482526452009
BAKKEN7-20210001000
BAKKEN6-2021226388033995520366
BAKKEN5-2021319159595957930531
BAKKEN4-2021309438837708160550
BAKKEN3-20213198510245288530582
BAKKEN2-2021289138635817910544
BAKKEN1-202131103510728178960620

The well:

  •  20236, 824, WPX, Packineau 15-32H, Heart Butte, t6/11; cum 351K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230246324333366358834230
BAKKEN5-202231249125113354294327693
BAKKEN4-202230240223943541186717020
BAKKEN3-2022312629270834771995174777
BAKKEN2-20222819991985301115171240123
BAKKEN1-2022311485142719551127546410
BAKKEN12-20210000000
BAKKEN11-2021300190000
BAKKEN10-20213121342145561316201137312
BAKKEN9-20213027372769767020781611302
BAKKEN8-2021316357610014554482526452009
BAKKEN7-20210001000
BAKKEN6-2021226388033995520366
BAKKEN5-2021319159595957930531
BAKKEN4-2021309438837708160550
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Miscellaneous Notes -- August 18, 2022

EVs: the interesting thing? EV charging stations will never be able to keep up. Link here.


Russia: needs storage facilities for crude oil. Link here.

Futures:

  • WTI: up slightly.
  • Dow: down slightly.
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No New Permits; Oasis Renewed Five Permits; Three DUCs Reported As Completed -- August 18, 2022

PSX: to acquire Colorado's biggest oil and gas employer. PSX stake: $6 billion. Link here.
  • DCP Midstream: currently a standalone joint venture; would be merged into a PSX subsidiary
  • DCP is a joint venture of Phillips 66 and Enbridge (PSX + ENB)
  • DCP: one of the largest US transporters and processors of natural gas and associated liquids, operating pipelines and 39 natural gas processing plants across nine states;
  • also a major gas processor and handler of natural gas liquids in the Permian Basin region of west Texas, the largest oil-producing area in the country
  • so, DCP: Denver-Julesburg Basin of northeast Colorado and Texas' Permian Basin
Common stock investors reacted positively to the news of the Phillips 66 offer to buy out the DCP Midstream's remaining common units. The stock’s share price jumped 8%, to just over $38 per share in early Thursday trading, since before the buyout offer was announced.
Wednesday’s restructuring also swapped Phillips 66’s interest in Gray Oak Pipeline, cutting Phillip 66s stake from 42% to just over 6%, while Enbridge’s stake rose to 58.5%. 
In return Enbridge gave up more than half of what it owned in the DCP Midstream joint venture, reducing it to a 13.2% stake. 
Phillips 66 opened the Gray Oak Pipeline in 2020, saying it was planned to transport 900,000 barrels of crude oil per day. The system connects Texas’ Permian Basin and the Eagle Ford oilfields to the state’s major Gulf Coast refinery hubs.

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

WTI: $90.75. President XI said he was "re-opening" China; Saudi Arabia shows no urgency in increasing production.

Natural gas: $9.218. US natural gas storage sees minimal injection as exports rise. 

Active rigs: 46.

No new permits.

Five permits renewed:

  • Oasis: four Lars permits in Mountrail County; and one Pederson permit in McKenzie County.

Three producing wells (DUCs) reported as completed;

  • 38451, 776, Slawson, Rainmaker Federal 6-25-36TFH,
  • 38455, 1,181, Slawson, Lightning Federal 5-24-13TFH,
  • 35433, n/d, XTO, Emma 31X-30A,
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Apple: 3nm M2 Chip Later This Year -- August 18, 2022

Huge.

Link here. 

Huge story; has not yet been picked up by mainstream business networks.

TSMC will begin production of 3nm chips for Apple by the end of 2022, according to a report this week from Taiwan's Commercial Times. A separate report from the publication claimed that TSMC will begin mass production of 3nm chips in September.

Chips, semiconductor: link here. 

3nm? Most are still focused on 10 nm. Push to 7nm and 5nm was huge a few months ago, but now Apple will have 3nm by the end of the year

**********************
Qualcomm

Wow, wow, wow.

Qualcomm just popped today.

Says it will get back into "server" business.

Amazon says it may buy chips / servers from Qualcomm. 

We continue to see the "headline wars":

  • Apple vs Amazon
  • Apple vs Microsoft
  • Apple/TSM vs everyone else

Disclosure: I've had huge exposure to Qualcomm for years; I don't recall when/why I started accumulating Qualcomm. I panicked when Apple dropped Qualcomm but didn't sell. Held.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. Full disclaimer at tabbed link.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.   

**************************
Broadcom

But look at this.

AVGO up $20 today, but that's only 4%.

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Why The Bakken Outperforms New Mexico -- August 18, 2022

These wells are no longer atypical. This is "the Bakken." I could do this all day long. This is why the Bakken outperforms New Mexico.  

The wells:

  • 22433,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20222782858318864019598193580
BAKKEN5-20223116955170751664037262368670
BAKKEN4-20222714914149881518628958286230
BAKKEN3-20222918323179831911032371311630
BAKKEN2-20221420217241541500
BAKKEN1-202230241122453828771389413856810
BAKKEN12-202129247552439635870364543607631
BAKKEN11-20213030035300204094337091366860
BAKKEN10-202131286582845844738303272983696
BAKKEN9-20215008644235402326
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-2021163665012136054110
BAKKEN3-20213185888135014019820
BAKKEN2-20212878787432212508750
BAKKEN1-2021319261134382152711080
BAKKEN12-202031944578527152711080
BAKKEN11-2020309269943831505109010
BAKKEN10-20203110181130405165612370
  • 22434,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20223094219559662012284118930
BAKKEN5-2022301214112067847914985146100
BAKKEN4-202222900689547207925289950
BAKKEN3-20223014139140801204615141137940
BAKKEN2-2022152031608400
BAKKEN1-202230693670559229796776940
BAKKEN12-2021311492414868274281547014939112
BAKKEN11-20211911336110862089111118109280
BAKKEN10-20211007000
BAKKEN9-20211006000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-202113305100
BAKKEN4-202192252801032852030
BAKKEN3-20213113041352467152711080
BAKKEN2-20212891890428810486840
BAKKEN1-20213012761809495150911170
BAKKEN12-2020311399909540165912400
  • 22435,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230443644368469505946680
BAKKEN5-202229444644728790467343140
BAKKEN4-202225378638447859409638390
BAKKEN3-2022315422530412219800865450
BAKKEN2-202224363036288674293027015
BAKKEN1-2022192757274570343439327210
BAKKEN12-202131144081432727648187961833940
BAKKEN11-20213032032321853887539344389390
BAKKEN10-202130327613253338490386203814185
BAKKEN9-20211007000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-2021185575973529186750
BAKKEN3-20212379989836010097250
BAKKEN2-20212810461157525153611590
BAKKEN1-20213112771696580164412250
BAKKEN12-20202177204808335540
BAKKEN11-20200000000
BAKKEN10-2020100012120
BAKKEN9-2020225548522728926480
BAKKEN8-20203192199342812848670
BAKKEN7-20203110821300340138895032
BAKKEN6-20201220524017
BAKKEN5-20201434601725670378
BAKKEN4-202029763855352125184929
  • 22436,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230411740207602509247880
BAKKEN5-2022305089517410277561152270
BAKKEN4-202224338032557923361533560
BAKKEN3-2022317530761618261958881250
BAKKEN2-2022164883481550145614230
BAKKEN1-202299412911331300
BAKKEN12-2021263476336145734076371635
BAKKEN11-202119571955798206653863340
BAKKEN10-20216008200
BAKKEN9-20210000000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-2021103465362274122970
BAKKEN3-20213115561557668172713080
BAKKEN2-20212814861539543142695990
BAKKEN1-2021311618159754212558360
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