The CLR Fuller And Fuller Federal Wells In Little Knife

Production:

• 38368:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2023	26	17309	17212	21447	25567	25567	0
BAKKEN	6-2023	30	21577	21667	26746	31640	31640	0
BAKKEN	5-2023	31	25250	25219	29971	32175	32175	0
BAKKEN	4-2023	30	27580	27531	37086	31772	31772	0
BAKKEN	3-2023	18	11410	11510	15742	12717	12717	0
BAKKEN	2-2023	28	26372	26277	33948	29939	29939	0
BAKKEN	1-2023	31	24603	24839	34895	27459	27459	0
BAKKEN	12-2022	31	43706	43504	48259	40247	40247	0
BAKKEN	11-2022	30	34827	34813	49406	39189	38751	438
BAKKEN	10-2022	5	5113	4805	5511	4205	3724	481
BAKKEN	9-2022	2	0	0	1535	1	0	1

38371:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2023	25	4726	4678	18514	9887	9479	0
BAKKEN	6-2023	30	4963	5051	19828	18013	17579	7
BAKKEN	5-2023	31	15046	15067	30877	26309	25879	0
BAKKEN	4-2023	30	16793	16770	34106	25121	24661	0
BAKKEN	3-2023	31	17679	17657	31864	26060	25583	13
BAKKEN	2-2023	28	11920	11900	17609	25253	24760	58
BAKKEN	1-2023	31	16202	16227	46850	19535	18829	257
BAKKEN	12-2022	31	20535	20475	66043	23670	23069	164
BAKKEN	11-2022	30	13699	13897	66264	17776	16805	550
BAKKEN	10-2022	18	9220	8981	37588	9976	8857	717
BAKKEN	9-2022	3	42	42	2017	136	0	136

****************************
The Wells

The wells:

• 20357, IA/629, CLR, Fuller 1-2H, Little Knife, t9/11; cum 289K 6/22; off line 8/22 while neighboring wells are fracked; see this post;
  
• 36162, PNC, CLR, Fuller 11-2H1, Little Knife,
• 36163, PNC, CLR, Fuller 10-2H, Little Knife,
• 36164, PNC, CLR, Fuller 9-2H1, Little Knife,
• 36165, PNC, CLR, Fuller 8-2H1, Little Knife,
• 36166, PNC, CLR, Fuller 7-2H, Little Knife,
• 38365, conf, CLR, Fuller 5-2H, Little Knife, t--; cum 6K over first six days;
  
• 38366, conf, CLR, Fuller 4-2H1, Little Knife, t--; cum 4K over first six days;
  
• 38367, conf, CLR, Fuller 3-2H, Little Knife, t--; cum 7K over first six days;
• 38368, conf, CLR, Fuller Federal 2-2HSL1, Little Knife, t--; cum 7K over first six days;
• 38371, conf, CLR, Fuller 8-2H1, Little Knife, t--; cum 9K over first eighteen days;
• 38370, conf, CLR, Fuller 7-2H, Little Knife, t--; cum 19K over first eighteen days;
• 38369, conf, CLR, Fuller 6-2H1, Little Knife, t--; cum 18K over first eighteen days;

The graphic:

6:00 P.M. ET -- Sunday --August 21, 2022

Focus on Fracking: link here. 

Sunday night, prior to trading:

• WTI: $90.77
• Natural gas: $9.336

Sunday night, after pre-market trading begins:

• WTI: $89.62
• Natural gas: $9.216

Investors understand this:

SNOW:

As I said the other day: "SNOW: I don't see the moat. I see a lot of competitors."

Updates: since posting the above, two Motley Fool articles on SNOW --

• can Snowflake keep up its staggering growth rate?
• will Snowflake be worth more than Alphabet by 2030?

Update On Buffett - OXY -- August 21, 2022

For background, see this post.

Now, the most recent update from The WSJ.  

The WSJ articles alidates / corroborates my thoughts, as previously posted, but also provides insight into the additional reasons why Buffett sought permission for 50% ownership.  

From the article:

• Analysts have said Occidental’s oil business would complement Berkshire’s existing energy holdings, which include utilities, natural gas and renewables. 
• Mr. Buffett has a warm relationship with Chief Executive Vicki Hollub and has publicly praised her efforts to turn the company around after its acquisition of Anadarko Petroleum Corp. and her plans to pay down debt and increase dividend payouts.
• But Mr. Buffett hasn’t informed Occidental of any plans to acquire a controlling stake in the company, according to people close to the matter. 
• Given Mr. Buffett’s well-known aversion to hostile deal making, it would be out of character for him to make a bid without sounding out the company’s executives and directors first.
• Holdings in OXY:
• Filings show Berkshire currently has a 20% stake in Occidental. It also has warrants to purchase another 83.9 million common shares and 100,000 shares of preferred stock that pay a hefty dividend—both of which it acquired after helping Occidental finance its 2019 acquisition of Anadarko.
• Outstanding OXY shares: 931.49 million, currently. 
• Occidental Petroleum 2021 shares outstanding were 0.959B, a 4.36% increase from 2020.
• Occidental Petroleum 2020 shares outstanding were 0.919B, a 13.49% increase from 2019.
• Occidental Petroleum 2019 shares outstanding were 0.81B, a 6.05% increase from 2018.
  
• If Berkshire were to exercise the warrants, its stake would rise to roughly 27%. That would have exceeded the 25% limit FERC allowed for before Friday’s ruling. 
• Taxes could also play a role in Mr. Buffett’s bid for a bigger minority stake in Occidental. Corporations with a stake of at least 20% in another company are eligible to deduct 65% of dividends received, up from the standard 50%. 
• Berkshire’s 20% stake also allows it to include a proportionate share of Occidental’s earnings in its own results. That could give its earnings a multibillion-dollar boost annually, based on analyst estimates of Occidental’s earnings. Before the most recent purchases, disclosed this month, Occidental fell below the 20% threshold for both benefits. 
• Since Berkshire started buying Occidental shares in February, 2022, Mr. Buffett has had a friendly and collaborative relationship with Ms. Hollub, and the pair speak regularly, according to people familiar with the matter. When Mr. Buffett bought another slug of Occidental shares this spring, he called Ms. Hollub to let her know about the transaction, according to one of the people. Ms. Hollub was driving at the time and pulled over to take the call, the person said.

For The Archives -- Sophia's School District Report Card -- 2022

Regarding Sophia's school district, Grapevine-Colleyvlle (north Texas) independent school district:

GCISD Staff and Families,

Today the Texas Education Agency has made available to the public the accountability ratings for districts and campuses.

GCISD is pleased to report that district performance returned to, and exceeded, pre-pandemic levels. 

For example, the district overall score in 2019 was an A (92) and is an A (93) for 2022. 

School Progress was stronger than 2019 as evidenced by our Academic Growth rating improving from a B (84) in 2019 to an A (92) in 2022. 

Additionally, Closing the Gaps moved from a B (89) to an A (95). While the 2022 Student Achievement rating is reported as a B (89) due to only one campus scoring below 70 in that domain, our STAAR performance score in 2022 remains an A (91) just as it was in 2019.

All GCISD campuses met or exceeded their overall ratings from 2019.

I said many, many times, the GCISD administrative staff and the teachers were incredibly awesome during the past several years. Right, wrong, or indifferent, it was my feeling that the GCISD folks were given enough latitude to sort things out locally and they did a wonderful job.

Sounds like home schooling (remote learning) was a success in our district. Say what?

Catching Up On Some Old Wells -- August 21, 2022

Looking at "New Wells Reporting 3Q18" -- four years ago, the first ten eleven wells that caught my attention this morning -- link here for all the 3Q18 wells:

Tracking toward 500K:

• 30284, 2,150, Ovintiv, Orvis State 150-99-21-16-3H, South Tobacco Garden, t718; cum 416K 6/22 
• 30277, 2,749, WPX, Joseph Eagle 19-18HZ, Mandaree, t5/18; cum 482K 6/22;

BR 500K wells:

• 33978, GL/A, BR, Rink 5-1-5 UTFH, first production, 10/18; t--; cum 581K 6/22;
• 33979, 161, BR, Kermit 4-8-32 MBH, Pershing, t8/18; cum 591K 6/22;

No halo effect:

• 33579, 2,072, CLR, Mountain Gap 11-10H1, Rattlesnake Point, t7/18; cum 330K 6/22;

Another Mountain Gap well:

• 33561, 1,861, CLR, Mountain Gap 12-10H, Rattlesnake Pint, t6/18; cum 509K 6/22;

Three XTO Bobcat wells:

• 34358, 30, XTO, Bobcat Federal 14X-35EXH, Bear Creek, t5/19; cum 658K 6/22;
  
• 34357, 10, XTO, Bobcat Federal 14X-3AXB, Bear Creek, t5/19; cum 6663K 6/22;
• 34356, 1,305, XTO, Bobcat Federal 14X-35A, Bear Creek, t5/19; cum 719K 6/22;

Still flowing?

• 34072, 601, Petro-Hunt, JL Moberg 153-95-18C-20-1HS, F, Charlson, t9/18; cum 464K 6/22;
  

MRO in Reunion Bay:

• 34484, 6,504, MRO, Yellowface USA 13-23H, Reunion Bay, t9/18; cum 515K 6/22;
  

Books, Births, And A/C -- August 21, 2022

The Book Page

A book a week.

Three books to consider. 

I received my copy of the biography of CCR yesterday before 8:00 a.m. delivered by Amazon and have already started enjoying it. There is a new biography on Captain Ferdinand Magellan but The WSJ recommends the one from 2019. And finally, the ENIACs!

The three books:

• CCR: from The WSJ. An exceptionally easy, but fun, read.
• Over the Edge of the World, Deckle Edge, c. 2019, from Amazon.
• The ENIAC women, WWII, from The WSJ. 

*************************
Other

Global births: link here to ZeroHedge. Of the next 1,000 births:

• 103 will be born in China,
• 172 will be born in India, and
• 57 will be born in Nigeria>
• at 30, the US exceeds:
• every country in the western hemisphere, Brazil, #2 at 22
• every country in the entire world except
• India, China, Nigeria, Pakistan, DR Congo, and Indonesia (31)

Saudi Arabia: something about which the pundits never seem to talk -- a/c and desalination --