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Wednesday, January 18, 2023

Laser-Focused On Dividends -- ONEOK Raises Dividend -- January 18, 2023

A reader, thank you very much, caught this data point and sent it my way.

The board of directors of ONEOK, Inc. (NYSE: OKE) today increased ONEOK's quarterly dividend to 95.5 cents per share, an increase of 2%. This increase results in an annualized dividend of $3.82 per share.

The dividend is payable February 14, 2023, to shareholders of record at the close of business January 30, 2023.

The BR Maverick Wells: Initial Production Data -- January 18, 2023

This page won't be updated. The BR Maverick wells in Dimmick Lake are tracked here. When last posted, they had been drilled to depth and perhaps completed, but production data not yet provided. Now we have that initial production data:

  • 36241, loc/NC-->loc/A, BR, Maverick 1C TFH 33-0530-08986, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222832004320303101860209578892274
BAKKEN10-20223155175550504898054715504794193
BAKKEN9-2022815399153021675225188234121759
BAKKEN8-20220000000
BAKKEN7-20222363654212820232
  • 36242, loc/NC-->loc/A, BR, Maverick 1E MBH 33-0530-08987, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222837702376492876689174864272678
BAKKEN10-20222744170443214204686816833893357
BAKKEN9-2022225236452639450721170471130263937
BAKKEN8-20228119341133095232521824330680
BAKKEN7-202220060222640217
  • 36243, loc/NC-->loc/A, BR, Stortroen 1D MBH 33-0530-08988, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222828594285342483066758646752031
BAKKEN10-20223128561286362772290139878942171
BAKKEN9-20221830176299862755259803574912269
BAKKEN8-202231000000
BAKKEN7-202220404069904090336
  • 36244, loc/NC-->loc/A, BR, Maverick 2C TFH 33-0530-08989, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2022151050810510184372538424617747
BAKKEN10-20222716307162763161641152398791239
BAKKEN9-20221255836052119231419013760420
BAKKEN8-2022799519447146181778616833809
BAKKEN7-20222535368681300107
  • 36245, drl/A-->loc/A, BR, Maverick 2D MBH, 33-0530-08990, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222820446204031734245176436891452
BAKKEN10-20223120498205621409076552749311558
BAKKEN9-20221723160230141646347777449532791
BAKKEN8-202231000000
BAKKEN7-20223119419475986750675
  • 36246, drl/NC-->loc/A, BR, Maverick 2E TFH, 33-0530-08991, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222898519812119275095550215700
BAKKEN10-2022145098525264252487724469387
BAKKEN9-20221227772275973284540214377682418
BAKKEN8-20221001201214121230
BAKKEN7-202211481480000
  • 36247, drl/NC-->loc/A, BR, Stortroen 2C TFH, 33-0530-08992, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222819306192622526843613422211358
BAKKEN10-20223118284182572508058071566331390
BAKKEN9-20229745574081129315638144361191
BAKKEN8-20220000000
BAKKEN7-2022119119155171740143
  • 36248, drl/NC-->loc/A, BR, Stortroen 2D MBH, 33-0530-08993, Dimmick Lake,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202228110911104476364798547159788
BAKKEN10-2022125292536337242161821198402
BAKKEN9-20222114597145051065050699491951468
BAKKEN8-20221000000
BAKKEN7-202242152155680497035

And, as noted before, evidence of the halo effect:

  • 17213, 437, BR Maverick 44-12H, Dimmick Lake, t7/08; cum 221K 6/22; recent production, 1,252  bbls crude oil over two days (June, 2022) extrapolates to almost 20,000 bbls over 30 days: but the ultimate jump was only from 600 bbls/month to 3,000 bbls/month for a short period: t7/08; cum 231K 10/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20221000000
BAKKEN10-20222614581454295326422462102
BAKKEN9-20223028463240589354535160203
BAKKEN8-20222534553226709264066098233
BAKKEN7-20222324032786620538623628165
BAKKEN6-202221252477204849745536
BAKKEN5-20220000000
BAKKEN4-202291527081677887660
BAKKEN3-2022834102823923720
BAKKEN2-20220000000
BAKKEN1-20220000000
BAKKEN12-2021272584571331022221
BAKKEN11-20212125924483573070
BAKKEN10-20213160646779121311306

Ovintiv With Three New Permits; Four DUCs Reported As Completed -- January 18, 2023

Active rigs: link here.

WTI: $79.13.

Natural gas: $3.329.

Three new permits, #39572 - #39574, inclusive:

  • Operator: Ovintiv
  • Field: Sandrocks (McKenzie)
  • Comments:
    • Ovintiv has permits for two Barracuda wells and one Fleck well in SWSE 35-151-100; 
      • to be sited 939 FSL and between 2078 FEL and 2118 FEL

Four producing wells (DUCs) reported as completed:

  • 36747, 2,693, XTO, FBIR Lawrence 24X-26C, Dunn County,
  • 36749, 2,243, XTO, FBIR Lawreence 24X-26D, Dunn County,
  • 35410, 150, Crescent Point Energy, CPEUSC Austin 2-17-20-158N-99W-LL-MBH, Williams County,
  • 38544, 2,238, Whiting, Scott Olson 31-1H, Williams County,

Investors -- January 18, 2023

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.

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.    

mRNA: Moderna, surging today; up $14/share; up 7%

  • news yesterday: Moderna's mRNA RSV (not Covid-19) vaccine 84% effective
    • seasonal flu: maybe 45% effective; continues to be debated;
  • vaccinated folks are still better protected than folks relying on natural immunity; interesting.
  • if one thinks about that, one would understand why that makes sense
    • it's so obvious, it's like a light going on/off when it actually comes to you
    • think Prevnar 20 for "pneumococcal" illness 
      • why is Prevnar 20 so well accepted vs natural immunity?
      • "no one" argues that it's better to deter pneumococcal pneumonia by avoiding vaccination against pneumococcus and relying on natural immunity;

Covid-19:

Inflation:

  • December, PPI numbers out:
  • inflation numbers slightly better than expected:
  • November, PPI, also revised; better number
  • Dow moved up nicely when numbers released; but then fell into the red very quickly; then back to where were, green, Dow up 53 points;
  • December retail sales came in almost as expected; forecast down 1%; actual, 1.1%

The Semiconductor Value Chain -- January 18, 2023

Link here.


Two that are particularly interesting:

  • ASML
  • Skyworks (SKWS) -- not on the above chart.

WTI Trending Toward $82 -- Two Wells Coming Off Confidential List -- January 18, 2023

Keeping the links: link here.

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

Active rigs:

  • 42
  • Bowline: 1
  • BR: 2 -- including a Lillibridge;
  • CLR: 8 -- including a Brangus Federal and a Brangus FIU; two Micahlucas wells;
  • Crescent Point: 2
  • Enerplus: 2
  • Grayson Mill: 3
  • Hess: 4
  • Hunt: 1
  • Kraken: 2
  • Liberty Resources: 1
  • MRO: 3
  • Oasis: 3
  • Ovintiv: 2
  • Petro-Hunt: 1 -- Hot Rod, McKenzie; #39293;
  • Sinclair: 1
  • Slawson: 2 -- Armada Federal, Mountrail; Loon Federal, Mountrail
  • Stephens Williston: 1 -- Greenbrier, Mountrail
  • Whiting: 1
  • WPX: 2

Petro-Hunt: three Hot Rod wells on the pad in SWNW 27-149-102; Boxcar Butte;

  • 22834, 1,208, Petro-Hunt, Hot Rod 1-27-26H, Boxcar Butte, t9/13; cum 162K 11/22;
  • 39293, ros, Petro-Hunt, Hot Rod 149-102-27B-26-2H, Boxcar Butte,
  • 39294, conf, Petro-Hunt, Hot Rod 149-102-27C-26-3H, Boxcar Butte,
  • no wells of interest in the area;
  • to the south, parallel:
    • 20394, 433, White Rock, Haugen 13X-34, Boxcar Butte, t10/11; cum 92K 11/22;

Flickertail state news: link here.

WTI: $81.77. Up almost 2%; up $1.59.

Natural gas: $3.435.

Thursday, January 19, 2023: 39 for the month; 39 for the quarter, 39 for the year
39014, conf, Kraken, Wilhelm LE 16-21 1H,
38688, conf, Slawson, Armada Federal 4 SLTFH,
38015, conf, Petroshale, Sacagawea Federal 4MBH,
27896, conf, CLR, Jersey FIU 13-6H,

Wednesday, January 18, 2023: 35 for the month; 35 for the quarter, 35 for the year
38412, conf, Whiting, Kannianen 11-5-2THU,
27895, conf, CLR, Jersey FIU 12-6H1,

RBN Energy: Energy Transfer's Gulf Run pipeline expands critical Louisiana LNG feedgas corridor. Archived.

If pipeline-constrained Haynesville Shale producers’ New Year’s resolution was to grow volumes, they just got a big boost: Energy Transfer recently placed in service its new Gulf Run Transmission natural gas pipeline in Louisiana, increasing north-to-south capacity in the state by 1.65 Bcf/d. It’s the first of several pipeline projects due online in 2023 — and among others proposed for subsequent years — that will be critical for debottlenecking the Louisiana pipeline network and connecting Haynesville and other gas production volumes to LNG export projects vying for feedgas supply on the Louisiana coast.
U.S. LNG developers are in a race to capitalize on the tight global LNG market and finalize terminal plans, with much of the next wave of liquefaction and export capacity additions planned for the Louisiana coast which may, in time, help alleviate energy security concerns, particularly across the pond in Europe.
If these pipeline projects don’t get built on time, the resulting supply shortage in southern Louisiana would not only wreak havoc on Henry Hub and the domestic gas market but would reverberate around the globe. Gulf Run’s in-service is good news for at least one facility: the under-construction Golden Pass LNG, which is the anchor shipper on the pipeline and due to begin commissioning later this year. In today’s blog, we look at what the new capacity could mean for flows and production growth in the short- and long-term.

I'm still reminded of the reader, some years ago now, who wrote to tell me, all these LNG export terminals would not be built; it was all "pie in the sky."