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Friday, August 26, 2022

Two Hess AN-Gudbranson Wells Each Go Over 500K Bbls Crude Oil -- Less Than Five Years Old -- Elm Tree Oil Field -- August 26, 2022

The wells:

  • 33529, 2,054, Hess, AN-Gudbranson-153-94-2215H-12, Elm Tree, t10/18; cum 342K 3/20; cum 503K 6/22;
  • 33249, 1,748, Hess, AN-Gudbranson-LW-153-94-2215H-1, Elm Tree, t10/17; cum 383K 3/20; cum 496K 6/22;

The AN-Gudbranson wells are tracked here. These are very, very good wells.

Random Update Of MRO's Bottleson Wells -- Reunion Bay -- After Twelve Years, Goes Overe 500K Bbls Crude Oil Cumulative -- August 26, 2022

The well:

  • 16687, 600, MRO, Bottleson 34-22H, Reunion Bay, t11/08; cum 543K 6/22;

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230248424681271720168280
BAKKEN5-20223027652779138665025890234
BAKKEN4-2022191659176782142803887158
BAKKEN3-20223132183191170373266239652
BAKKEN2-202228300529241676672646391694
BAKKEN1-20222014491408857326618371220
BAKKEN12-202159693145267113128
BAKKEN11-2021181575155497437893383177
BAKKEN10-20212419981988103249444262399
BAKKEN9-202130275626791514650161120
BAKKEN8-202131298629361683707767200
BAKKEN7-202131309432611728751471510
BAKKEN6-202130316131211805708667260
BAKKEN5-20213134243342189265306025125
BAKKEN4-2021303479368520666507607453
BAKKEN3-202131388337932224708966800
BAKKEN2-202128351735091918483628501625
BAKKEN1-202131395738882370564652350
BAKKEN12-2020314041416624205115463563
BAKKEN11-20203037333682239943583666298
BAKKEN10-20202437583638288953954840209
BAKKEN9-20203059246133462681107322273
BAKKEN8-20203162686217454579056375990
BAKKEN7-202030573955494449307802581
BAKKEN6-202029313732513051291402565
BAKKEN5-202031170515361818177101483
BAKKEN4-202030208321832731214701844
BAKKEN3-2020197176252186120301052
BAKKEN2-20200000000
BAKKEN1-20200000000
BAKKEN12-20190000000
BAKKEN11-20190000000
BAKKEN10-20190000000
BAKKEN9-201900550000
BAKKEN8-2019148189283761456129438
BAKKEN7-201931223222504833881353033
BAKKEN6-201930204019474683542322318
BAKKEN5-20193122312207502386235440
BAKKEN4-2019302115221047533402934106
BAKKEN3-201931218722994533307362956
BAKKEN2-2019281988198144740329602794
BAKKEN1-20193122532120467343903120

Murex With Five New Permits; Two DUCs Reported As Completed; CLR Accquires A Couple Dozen XTO Wells -- August 26, 2022

WTI: $93.06.

Natural gas: $9.296.

Active rigs: 46.

Five new permits, #39201 - #39205, inclusive:

  • Operator: Murex
  • Fields: Sanish (Mountrail)
  • Comments:
    • Murex has permits for the following wells -- PB-Ggunner; PB-Paul Brian; PB-Sourina Angelina, PB-Stephen Luke, and PB-Winston Axel; SWSE 36-155-91;
      • to be sited 510 FSL and between 2290 FEL and 2410 FEL

Two producing wells (DUCs) reported as completed:

  • 38456, 1,143, Slawson, Rainmaker Federal 7-25-36TFH, Big Bend, no production data,
  • 38457, 2,116, Slawson, Cougar Federal 1 SLH, Big Bend, no production data,
Change of operator, from XTO Energy to CLR.
  • 28941, Allen, Williams County
  • 28940, Allen, Williams County
  • 28942, Allen, Williams County
  • 28939, Allen, Williams County
  • 18893, Allen, Williams County
  • 22514, Thaxton, Williams County
  • 25369, Thaxton, Williams County
  • 25368, Thaxton, Williams County
  • 22515, Thaxton, Williams County
  • 30664, Smouse, Williams County
  • 30917, Smouse, Williams County
  • 30665, Smouse, Williams County
  • 30652, Smouse, Williams County
  • 17823, Smouse, Williams County
  • 34986, Roxy, Williams County
  • 34985, Roxy, Williams County
  • 26843, Roxy, Williams County
  • 26844, Roxy, Williams County
  • 26845, Roxy, Williams County
  • 22681, Roxy, Williams County
  • 26821, Boe State, Williams County
  • 26822, Boe State, Williams County
  • 18620, Boe State, Williams County
  • 34918, Christiana, Williams County
  • 34919, Christiana, Williams County
  • 34920, Christiana, Williams County
  • 22139, Christiana, Williams County
  • 20062, Cchristiana, Williams County
  • 21898, Vancce, Williams County
  • 18894, Woodrow, Williams County
  • 21899, Ccolette, Williams County
  • 21495, Clyde Hauge, Williams County

CLR Acquires Certain XTO Wells -- August 26, 2022

From daily activity report, August 26, 2022 

Change of operator, from XTO Energy to CLR.

  • 28941, Allen, Williams County
  • 28940, Allen, Williams County
  • 28942, Allen, Williams County
  • 28939, Allen, Williams County
  • 18893, Allen, Williams County
  • 22514, Thaxton, Williams County
  • 25369, Thaxton, Williams County
  • 25368, Thaxton, Williams County
  • 22515, Thaxton, Williams County
  • 30664, Smouse, Williams County
  • 30917, Smouse, Williams County
  • 30665, Smouse, Williams County
  • 30652, Smouse, Williams County
  • 17823, Smouse, Williams County
  • 34986, Roxy, Williams County
  • 34985, Roxy, Williams County
  • 26843, Roxy, Williams County
  • 26844, Roxy, Williams County
  • 26845, Roxy, Williams County
  • 22681, Roxy, Williams County
  • 26821, Boe State, Williams County
  • 26822, Boe State, Williams County
  • 18620, Boe State, Williams County
  • 34918, Christiana, Williams County
  • 34919, Christiana, Williams County
  • 34920, Christiana, Williams County
  • 22139, Christiana, Williams County
  • 20062, Cchristiana, Williams County
  • 21898, Vancce, Williams County
  • 18894, Woodrow, Williams County
  • 21899, Ccolette, Williams County
  • 21495, Clyde Hauge, Williams County

A Grayson Mill Cheryl Well Goes Over 500K Bbls Crude Oil Cumulative -- August 26, 2022

The well:

  • 29612, 2,719, Grayson Mill/Equinor/Statoil, Cheryl 17-20 7H, Banks, t8/16; cum 467K 7/20; great well, fracked 8/16 but then a big jump again 11/17; huge production; no significant decline; offline as of 10/18; back on line 5/19; cum 533K 6/22;

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202230254523622205401283743142
BAKKEN5-202225227023312117373403472479
BAKKEN4-20222315931550114224190208401795
BAKKEN3-20223125922587189133181293771581
BAKKEN2-20222827042762219417443119324573
BAKKEN1-20223130673002305651588414006876
BAKKEN12-2021312487262430973836235508135
BAKKEN11-2021302246217529744530042031142
BAKKEN10-20213122432305276052071420087034
BAKKEN9-202130283329652921501043547111935
BAKKEN8-202131345932723110470973442710034
BAKKEN7-20213125882682330531258230566528
BAKKEN6-20213022452014280927531238252061
BAKKEN5-20213124962618299029664264831353

The BR Cleofill Wells Have Just Been Completed; A Petroshale Kirkland Well Goes Over 500K Bbls Crude Oil Cumulative -- August 26, 2022

The well:
  • 37073, drl/NC, BR, Cleofill 1A, Croff, first production, 6/22; t--; cum 16K 6/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20222015473152521686119315192870
BAKKEN5-2022310940000
BAKKEN4-20221894011137113500
BAKKEN3-20220000000

The Cleofill wells:  

  • 37073, see above, BR, Cleofill 1A,
  • 37074, drl/NC, BR, Cleofill 1B, Croff, first production, 6/22; t--; cum 18K 6/22;
  • 37075, drl/NC, BR, Cleofill 1C, Croff, first production, 6/22; t--; cum 11K 6/22;
  • 37076, drl/NC, BR, Cleofill 1D, Croff, first production, 6/22; t--; cum 8K 6/22;
  • 37077, drl/NC, BR, Cleofill 1E, Croff, first production, 6/22; t--; cum 6K 6/22;

In the area:

  • 21985, 1,422, Petroshale Kirkland Federal 4-18H, Cross, t6/12; cum 562K 6/22; recent production:
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN6-2022304578416731005500521674
    BAKKEN5-20223136783656363639173597111
    BAKKEN4-20223019262010198921861843133
    BAKKEN3-202227105684719531050588280
    BAKKEN2-2022281454146611581876165624
    BAKKEN1-2022209408679431084570376
    BAKKEN12-2021249519448471447760551

The Bike Page -- August 28, 2022

A reader asked for my thoughts on bicycles.

I have bought about eight different brand bike brands over the past decade, all in the range of $300 to $700, but I last bought a bike about three years ago. I don't recall ever paying more than $750; most in the $649 - $699 range.  

I assume prices have gone up significantly. I haven't been in a bike shop in the past year, except to buy a new bike at REI.

With the REI exception, I quit buying bikes during the "year of the plague" because my favorite bike retailer was unable to get bicycles (supply chain issue) and he eventually closed (in 2020).

There are many, many bicycle retailers in the local area. There is no problem finding bicycles in the $2,000 price range and higher. But I would never pay that much.

The challenge is finding bicycles in the $700 range or lower.

Link here (2022).

Of the bikes mentioned at the link, I've had one of each of the following, and can recommend any of them:

  • KHS
  • Specialized
  • Diamondback
  • REI Co-op (currently ride it about 20% of the time I ride a bike)
  • Trek

Bikes not mentioned that I have bought:

  • Haro (which I currently ride 80% of the time)
  • looking at current prices of Haro bicycles on the internet suggest I got a very, very good deal

Other links:

**************************************
Waiting For Jay Powell

Random Investment Note For The Archives -- August 28, 2022

Updates

Later, 3:26 p.m. CT after market close: Dow falls 1,000 points and NASDAQ slumps 4 percent. Whoo-hoo. 

  • The incredibly short statement and the words he used earlier today at "Jackson Hole" suggests three things with regard to Jay Powell:
    • he's had it with pundits second-guessing his actions, and suggesting he doesn't have the fortitude to stay the course (to do what it takes to bring inflation down)
    • he is most upset by the actions of the Biden administration and the US Congress: when the Fed is doing everything it can to bring down inflation, Capital Hill shows Powell the middle finger by:
      • passing an ill-advised trillion-dollar climate bill and calling it an "inflation reduction act"; and,
      • by executive order, forgives $20,000 in student debt for couples earning as much as $250,000
    • the key word in his five-minute speech today: "pain." "Pain" is a euphemism for "recession."
  • Jay Powell, with the full support of the Federal Reserve, has had enough of the Biden administration and the pundits. 
  • The Fed won't hold an early meeting to raise rates, but they will raise rates 75 basis points in September and it will take all of Powelll's will power not to raise a full one hundred basis points. 
  • The "Fed rate" will be 4 percent by Christmas, if not higher.

Original Post 

I am an investor, not a trader.

I am always 100% invested. Minus a very small cash position for unexpected bills. 

30-year horizon. I will never "see" my portfolios: it all goes to daughters and grandchildren.

I have a revenue stream to allow monthly investment, which I do in two tranches:

  • first week of every month;
  • third week of every month;

My allocation mix changes over time.

My current allocation mix:

  • 50%: blue chip, dividend paying; and yes, Apple is now in this group (was tech, no longer)
  • 30%: tech (mostly semi-conductors)
  • 20%: energy (oil and gas)

It's becoming more difficult to maintain that mix on a monthly basis.

  • chips can wait;
  • oil and gas: make hay while the sun shines
  • I might slow monthly allocation on techs over next six months; increase oil and gas, but make up for shift through "tech surge" at seven-to-twelve months to keep 50-30-20 allocation mix.

Posted for the archives, so my family understands my investment "mood." For no other reason.

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.  

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

Ben-Hur, the book.

General and Governor Lew Wallace.

***************************
Sewing Machines and Handguns

Interchangeable parts.

Link here at Connecticut History

Link here to ˆContrado

Link here too The Hog Ring.

Link to Interesting Engineering.

Can The US Make Up For Lack Of Russian LNG? Yup -- But You Have To Look -- August 28, 2022

Updates

December 19, 2022: link here.

Original Post 

Link here.

Most important data point is at this link. See if you can spot it.

Electricity Rates, Gasoline Prices -- Government Figures -- August 26, 2022

Electricity rates, June/July, 2022, timeframe. From government sources, generally, the BLS:

The 26 cents per kWh that Boston households paid for electricity in June 2022 was 62.5 percent higher than the nationwide average cost of 16 cents per kWh. Last June, electricity costs in Boston were 61.3 percent higher than the nation. Boston area electricity costs have exceeded the national average by at least 57.6 percent over the past five Junes.

  • 17.4 cents, June, 2022. Slightly above the national average.

The 24.4 cents per kWh Los Angeles households paid for electricity in July 2022 was 47.0 percent more than the nationwide average of 16.6 cents per kWh. Last July, electricity costs were 54.5 percent higher in Los Angeles compared to the nation. In the past five years, prices paid by Los Angeles area consumers for electricity exceeded the U.S. average by 30.9 percent or more in the month of July. 

Gasoline prices, link here, at the link, scroll down, averages, regular, July, 2022 vs one year earlier, July, 2021:

  • Boston: $4.69 vs 3.02
  • Dallas: $4.04 vs $2.81
  • Los Angeles: $5.96 vs $4.32
  • if these were the averages, some folks in Los Angeles were (are?) paging upwards of $7.00 / gallon

Gasoline prices, last month, June, 2022, in which gasoline prices hit record before dropping back:

  • Boston: $5.00
  • Dallas: $4.68
  • Los Angeles:$6.36

With much longer commutes, Los Angelos are spending upwards of $2.00 / gallon more for gasoline than Texans.

***************************
California Electric Grid

The comments go on forever


The Fireworks Start Later. Now? Quiet -- August 26, 2022

The Far Side: link here.

WTI: $92.52. OPEC is creating its own volatility.

Natural gas: $9.375.

Monday, August 29, 2022: 19 for the month, 50 for the quarter, 389 for the year
None.

Sunday, August 28, 2022: 19 for the month, 50 for the quarter, 389 for the year
None.

Saturday, August 27, 2022: 19 for the month, 50 for the quarter, 389 for the year
37696, conf, BR, Lone Beaver 5-1-17TFH,

Friday, August 26, 2022: 18 for the month, 49 for the quarter, 388 for the year
38367, conf, CLR, Fuller 3-2H, 

RBN Energy: producers of renewable diesel, sustainable aviation fuel to gain from new climate bill, part 2. link here

Conversations about decarbonization and the energy transition often turn to the transportation sector, which accounted for about 27% of U.S. greenhouse gas (GHG) emissions in 2020. Electric vehicles typically dominate these talks, but alternative fuels like renewable diesel (RD) and sustainable aviation fuel (SAF) also come up, not only because of their lower emissions but also because they are considered “drop-in” replacements for conventional diesel and jet fuel. Policies at the state and national level have already encouraged some production growth, but a tax credit established as part of the recently enacted Inflation Reduction Act (IRA) provides a major incentive for cleaner fuels. In today’s RBN blog, we look at the new 45Z Clean Fuel Production Credit (CFPC), how it will impact the production of RD and SAF, and why facilities that can produce fuels with the lowest carbon intensity (CI) stand to benefit the most.

The IRA, which was signed into law August 16, includes several of President Biden’s biggest clean energy priorities. A promise to reduce fossil-fuel usage and GHG emissions and promote the development of a clean-energy industry was a key part of Biden’s 2020 campaign and he took several actions shortly after taking office, but passage of the IRA is by far the most significant development. To date, the main incentive for RD producers has been the federal Blender’s Tax Credit (BTC). The BTC was established under Section 40A of the Internal Revenue Code and provides a tax credit of $1/gal for biodiesel or RD included in a “qualified biodiesel mixture” that is either used or sold as a fuel. RD, like biodiesel, is a biomass-based fuel that can be burned in diesel engines or used as heating oil for homes. Those federal tax credits, along with policies like California’s Low Carbon Fuel Standard (LCFS), have played key roles in the development of alternative transportation fuels like RD and SAF (see our Come Clean series). The BTC was set to expire at the end of 2022, but the IRA’s passage has extended its life by two years, with RD now eligible for the credit until the end of 2024.