After More Than Three Years Being Off Line, An Old Bakken Well Coming Back On Line -- February 25, 2023

This well went off line 5/19, and now, 3.5 years later, is coming back on line.

The well:

• 18118, 285, EOG, Ross 12-06H, Alger, Bakken; t5/10; cum 97K 4/18; off line; then, back on line, 11/22; cum 105K 12/22;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	29	1261	1142	1063	811	590	0
BAKKEN	11-2022	6	331	244	620	296	248	0
BAKKEN	10-2022	0	0	0	0	0	0	0
BAKKEN	9-2022	0	0	0	0	0	0	0
BAKKEN	8-2022	0	0	0	0	0	0	0
BAKKEN	7-2022	0	0	0	0	0	0	0
BAKKEN	6-2022	0	0	0	0	0	0	0
BAKKEN	5-2022	0	0	0	0	0	0	0
BAKKEN	4-2022	0	0	0	0	0	0	0
BAKKEN	3-2022	0	0	0	0	0	0	0
BAKKEN	2-2022	0	0	0	0	0	0	0
BAKKEN	1-2022	0	0	0	0	0	0	0
BAKKEN	12-2021	0	0	0	0	0	0	0
BAKKEN	11-2021	0	0	0	0	0	0	0
BAKKEN	10-2021	0	0	0	0	0	0	0
BAKKEN	9-2021	0	0	0	0	0	0	0
BAKKEN	8-2021	0	0	0	0	0	0	0
BAKKEN	7-2021	0	0	0	0	0	0	0
BAKKEN	6-2021	0	0	0	0	0	0	0
BAKKEN	5-2021	0	0	0	0	0	0	0
BAKKEN	4-2021	0	0	0	0	0	0	0
BAKKEN	3-2021	0	0	0	0	0	0	0
BAKKEN	2-2021	0	0	0	0	0	0	0
BAKKEN	1-2021	0	0	0	0	0	0	0
BAKKEN	12-2020	0	0	0	0	0	0	0
BAKKEN	11-2020	0	0	0	0	0	0	0
BAKKEN	10-2020	0	0	0	0	0	0	0
BAKKEN	9-2020	0	0	0	0	0	0	0
BAKKEN	8-2020	0	0	0	0	0	0	0
BAKKEN	7-2020	0	0	0	0	0	0	0
BAKKEN	6-2020	0	0	0	0	0	0	0
BAKKEN	5-2020	0	0	0	0	0	0	0
BAKKEN	4-2020	1	1	0	0	2	2	0
BAKKEN	3-2020	0	0	0	0	0	0	0
BAKKEN	2-2020	0	0	0	0	0	0	0
BAKKEN	1-2020	0	0	0	0	0	0	0
BAKKEN	12-2019	0	0	0	0	0	0	0
BAKKEN	11-2019	0	0	0	0	0	0	0
BAKKEN	10-2019	0	0	0	0	0	0	0
BAKKEN	9-2019	0	0	0	0	0	0	0
BAKKEN	8-2019	0	0	0	0	0	0	0
BAKKEN	7-2019	0	0	0	0	0	0	0
BAKKEN	6-2019	0	0	98	0	0	0	0
BAKKEN	5-2019	0	0	0	0	0	0	0
BAKKEN	4-2019	29	366	321	354	700	459	11
BAKKEN	3-2019	31	418	421	345	771	523	2
BAKKEN	2-2019	28	397	505	331	678	452	0
BAKKEN	1-2019	31	437	481	360	748	495	5
BAKKEN	12-2018	31	444	481	376	789	541	0
BAKKEN	11-2018	30	436	251	369	767	526	0
BAKKEN	10-2018	31	471	486	409	783	534	0
BAKKEN	9-2018	30	446	491	490	809	547	20
BAKKEN	8-2018	31	484	480	401	866	617	0
BAKKEN	7-2018	31	529	468	457	920	670	0
BAKKEN	6-2018	30	584	702	596	938	696	0
BAKKEN	5-2018	26	539	374	916	711	498	13
BAKKEN	4-2018	20	274	464	258	361	214	2
BAKKEN	3-2018	31	458	438	358	644	396	4
BAKKEN	2-2018	28	396	254	311	539	313	0
BAKKEN	1-2018	31	424	485	331	538	231	57

A Murex Angie Marie Well, Beaver Lodge, Goes Over 500K Bbls Crude Oil Cumulative; Drilled Back In 2006 -- One of The Original Ones! February 25, 2023

The well:

• 16186, 439, Murex, Angie Marie 13-24H, Beaver Lodge, Bakken (Beaver Lodge is the field where oil was first discovered in North Dakota, in 1951); this well was originally spud in 2006 (that's the date of the IP); its production recently (7/10) tripled -- re-frac'd?; t7/06; cum 437K 4/18; cum 505K 7/22; cum 511K 12/22; 

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	19	860	494	397	1730	1483	0
BAKKEN	11-2022	30	1199	1229	560	2519	2006	123
BAKKEN	10-2022	25	1029	955	475	2012	1700	0
BAKKEN	9-2022	30	1139	1190	499	2899	2270	239
BAKKEN	8-2022	25	1104	1178	534	2323	1998	0
BAKKEN	7-2022	31	1283	1200	572	2752	2349	0
BAKKEN	6-2022	30	1325	1655	614	2637	2247	0
BAKKEN	5-2022	30	1613	1129	737	2703	2313	0
BAKKEN	4-2022	11	383	539	325	926	783	0
BAKKEN	3-2022	31	1386	1476	714	3042	2639	0
BAKKEN	2-2022	26	1261	1271	647	3148	2810	0
BAKKEN	1-2022	24	1278	1684	647	3261	2949	0
BAKKEN	12-2021	31	1396	740	1007	2773	2383	0

The jump in production, back in 2009 / 2010:

BAKKEN	1-2011	31	5309	5437	1313	8529	8529	0
BAKKEN	12-2010	30	7253	6853	1871	9468	9468	0
BAKKEN	11-2010	30	8105	8205	1731	10158	10158	0
BAKKEN	10-2010	31	10634	10784	2299	11530	11530	0
BAKKEN	9-2010	18	3213	2650	532	3247	3247	0
BAKKEN	8-2010	26	5207	5881	1602	6304	6304	0
BAKKEN	7-2010	31	16127	15707	6809	18434	18434	0
BAKKEN	6-2010	30	4800	4734	773	4839	4839	0
BAKKEN	5-2010	31	0	0	0	0	0	0
BAKKEN	4-2010	30	965	1273	116	1123	1123	0
BAKKEN	3-2010	31	2342	2500	278	2609	2609	0
BAKKEN	2-2010	28	2175	1856	265	2314	2314	0
BAKKEN	1-2010	31	2437	2500	260	2584	2584	0
BAKKEN	12-2009	31	2452	2350	271	2486	2486	0
BAKKEN	11-2009	30	2363	2452	212	2370	2370	0

 

Russian Economy -- Update -- February 25, 2023

Link here.

France 24.

GDPNow -- February 25, 2023

Link here. 

The More I Read The More I Know A Fed Rate Of 8% (Or Even Higher) Would Solve A Lot Of Problems Overnight -- February 25, 2023

Link here. 

*************************
What We Need Now:
A Fed Rate With An 8-Handle

I'm serious as a heart attack. 

The more I read the more I know a Fed rate of 8% (or even higher) would solve a lot of problems overnight.

JPow needs to stop  worrying about inflation and embrace a much higher fed rate.

An increase of 150 basis next month (brings us to 6%) and then another 150 basis points the following month (brings us to 7.5%). Then pause and see what happens.

A BR CCU Mainstreeter Well About Ready To Go Over 500K Bbls Crude Oil Cumulative -- Corral Creek -- Still Flowing, No Pump -- Drilled Five Years Ago -- February 23, 2023

The well:

• 32348, 80, BR, CCU Mainstreeter 6-2-30 MBH, Corral Creek, t3/18; cum 316K 2/20; cum 489K 12/22; according to scout ticket still flowing without a pump;
  

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	27	4730	4705	4562	7169	6415	226
BAKKEN	11-2022	18	3785	3803	2164	6573	5496	216
BAKKEN	10-2022	31	6520	6503	3218	10761	9344	376
BAKKEN	9-2022	30	6934	6983	2745	11058	9706	405
BAKKEN	8-2022	31	6535	6500	1656	10140	8786	375
BAKKEN	7-2022	31	7315	7333	1941	15055	13055	423
BAKKEN	6-2022	30	5887	5895	4040	12014	10038	341
BAKKEN	5-2022	31	5873	5857	3791	12291	10365	335

A CLR Thronson Well In Alkali Creek Goes Over 500K Bbls Crude Oil Cumulative -- February 25, 2023

The well:

• 33351, 2,624, CLR, Thronson 4-21H1, Alkali Creek, t1/18; cum 495K 12/22;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	31	3082	3480	3774	8204	7838	76
BAKKEN	11-2022	29	3949	3822	5511	11538	11269	6
BAKKEN	10-2022	31	4452	4477	6898	13658	13342	9
BAKKEN	9-2022	30	4357	4231	6699	12633	12231	111
BAKKEN	8-2022	31	5437	5525	7837	12635	12145	186
BAKKEN	7-2022	27	3078	2976	3682	6296	5962	203
BAKKEN	6-2022	30	4278	4384	6708	11507	10679	560
BAKKEN	5-2022	31	5287	5271	8390	11859	11032	526
BAKKEN	4-2022	27	3160	2979	5003	6733	5740	752
BAKKEN	3-2022	24	2372	2517	3993	5175	4883	14
BAKKEN	2-2022	28	3222	3142	5317	6453	6154	13
BAKKEN	1-2022	31	3826	4076	5532	6695	6376	9
BAKKEN	12-2021	31	4028	3965	7045	8151	7835	8
BAKKEN	11-2021	30	4147	4035	7114	8123	7825	7

Still Flowing Without A Pump After Five Years; Trending Toward 500K Bbls Cumulative Crude Oil -- Hess, Alkali Creek -- February 25, 2023

The well:

• 33732, 2,078, Hess, EN-VP And R-154-94-2536H-12, Alkali Creek, t5/18; cum 430K 3/21; cum 473K 12/22; still F without a pump according to scout ticket;
  

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	23	1326	1335	1989	7949	3201	4748
BAKKEN	11-2022	30	2341	2298	2496	14930	14789	141
BAKKEN	10-2022	11	914	905	930	3323	3225	98
BAKKEN	9-2022	27	780	805	800	3631	3610	21
BAKKEN	8-2022	31	1375	1369	1247	5911	5911	0
BAKKEN	7-2022	25	1323	1356	1412	5510	5510	0
BAKKEN	6-2022	30	2275	2249	2395	8996	8996	0
BAKKEN	5-2022	22	1807	1828	1670	5489	5486	3
BAKKEN	4-2022	24	1991	1978	2250	7557	7557	0

A Nice Oasis Peregrine Well South Of Williston Off Line -- Activity In The Area -- Trending Toward 600K Bbls Crude Oil Cumulative -- February 25, 2023

The well:

• 33130, 1,220, Oasis, Peregrine 5401 42-24H, Todd, t10/17; cum 586K 8/22; off line as of 8/22;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	0	0	0	0	0	0	0
BAKKEN	11-2022	0	0	0	0	0	0	0
BAKKEN	10-2022	0	0	0	0	0	0	0
BAKKEN	9-2022	0	0	0	0	0	0	0
BAKKEN	8-2022	12	1403	1403	3309	1285	1285	0
BAKKEN	7-2022	31	3854	3854	4481	3877	3210	470
BAKKEN	6-2022	30	3894	3895	4065	3401	2707	504
BAKKEN	5-2022	31	3811	3811	5135	3276	2678	390
BAKKEN	4-2022	30	1965	1954	3966	1744	1444	170
BAKKEN	3-2022	18	1870	1871	3779	1636	1509	22
BAKKEN	2-2022	28	3282	3282	4139	2987	2743	74
BAKKEN	1-2022	31	3807	3797	4855	3427	3178	55
BAKKEN	12-2021	31	3724	3687	5010	3456	3206	51

Germany's De-Industrialization: BASF -- World's Top Chemical Company -- Plant Closures At Its Home Base In Germany -- February 25, 2023

 Link here.

Themes: link here.

Themes: 2023.

European de-industrialization:

• October 9, 2022 -- where this theme will be followed.

What A Bunch Of Crock -- "No Good Options" -- Jasmin Melvin -- February 25, 2023

SPGlobal: Biden faces "no good options" to keep gasoline prices in check.

What a bunch of crock.

Two things.

1. Currently, there's so much crude oil (and gasoline for that matter) sloshing around there's no imminent shortage between now and driving season. Most recent EIA data (last week):

• days crude oil in storage: 31.7 (an increase from the week before, 31.2); link here; fourth consecutive week that storage has increased;
• any storage greater than 21 days is excessive
  
• gasoline demand, link here:

2. Driving season in the US is three months away. If next week, President Biden went full monty in supporting US oil, all this crazy talk would stop overnight. Full monty? Let's start:

• executive order: citing Russian sanctions, direct the EPA to to call a moratorium on all new regulatory activity against "oil";
• executive order: citing Russian sanctions, direct the EPA to roll back alll regulations adversely affecting "oil" that have been put in place since January 20, 2020;
• executive order: direct the US Congress to rescind the Merchant Marine Act of 1920 ("the Jones Act") and by executive order, and, in the meantime, temporarily suspend the act for 365 days;
• executive order: direct federal permitting to be expedited; all permits to be automatically approved within 60 days with only the president able to delay any approval greater than 60 days, and he has one month to act;
• return Federal royalty rates to pre-1980 rates for 365 days;
  
• incentivize frack spreads;
  
• approve COP's five-well request for the company's Alaskan Willow Project;
• direct US Congress to send him a bill similar to the "Chips Act" to expedite development of the Uinta Basin; 
• direct US refiners to operate at max capacity; citing the Ukraine War, put the US on a war footing with regard to refining.
  

Friday's NDIC Daily Activity Report -- February 25, 2023

Active rigs: 45.

WTI: $76.32.

Natural gas: $2.548.

One new permit, #39686:

• Operator: Oasis
• Field: Alger (Mountrail)
• Comments: 
• Oasis  has a permit for a Heron well, SWSE 32-157-92; 
• to be sited 490 FSL and 2035 FEL

Nine permits renewed:

• Foundation: (4): two Barkland permits in Beaver Creek (Golden Valley); and, two Agate permits in Bicentennial oil field (Golden Valley)
• Formentera Operations (2): two SWD permits
• Hunt (2): two Palermo MCNIC permits in Ross oil field (Mountrail)
• Hess: a SC-JW Hamilton permit, in Williams County

Seven producing wells (DUCs) reported as completed:

• 38658, 1,324, CLR, LCU Ralph 11-27HHX, these wells are tracked here.
• 37864, 1,175, CLR, Clear Creek Federal 14-35HSL2,
• 38137, 1,221, CLR, Flint Chips Federal 10-5H, these wells are tracked here;
• 38138, 1,215, CLR, Dennis FIU 10-8H, these wells are tracked here;
• 38927, 3,559, Grayson Mill, Timber Creek 13-24-4H,
• 37421, 576, Petro-Hunt, Blikre 158-93-6B-7-1HS,
• 38704, 2,188, MRO, Alvin 44-8H, 

Initial production, #38704; frack data not yet reported by NDIC or FracFocus.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	31	22021	22017	24562	17128	16013	717
BAKKEN	11-2022	29	23918	23917	28463	17642	16355	812
BAKKEN	10-2022	31	32043	32060	35434	22915	20706	1810
BAKKEN	9-2022	28	32118	31855	32532	17178	16907	8
BAKKEN	8-2022	12	7154	7058	9542	5499	5338	62

Wells of interest:

• 18384, Glenn Eckelberg 24-8H, previously reported; huge jump in production;

Name change;

• 39480: Meadowlark 12-8HSL1; was M..12-6HSL. CLR.