Pages

Saturday, February 25, 2023

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2022291261114210638115900
BAKKEN11-202263312446202962480
BAKKEN10-20220000000
BAKKEN9-20220000000
BAKKEN8-20220000000
BAKKEN7-20220000000
BAKKEN6-20220000000
BAKKEN5-20220000000
BAKKEN4-20220000000
BAKKEN3-20220000000
BAKKEN2-20220000000
BAKKEN1-20220000000
BAKKEN12-20210000000
BAKKEN11-20210000000
BAKKEN10-20210000000
BAKKEN9-20210000000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-20210000000
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-20200000000
BAKKEN8-20200000000
BAKKEN7-20200000000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20201100220
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-20200000000
BAKKEN12-20190000000
BAKKEN11-20190000000
BAKKEN10-20190000000
BAKKEN9-20190000000
BAKKEN8-20190000000
BAKKEN7-20190000000
BAKKEN6-201900980000
BAKKEN5-20190000000
BAKKEN4-20192936632135470045911
BAKKEN3-2019314184213457715232
BAKKEN2-2019283975053316784520
BAKKEN1-2019314374813607484955
BAKKEN12-2018314444813767895410
BAKKEN11-2018304362513697675260
BAKKEN10-2018314714864097835340
BAKKEN9-20183044649149080954720
BAKKEN8-2018314844804018666170
BAKKEN7-2018315294684579206700
BAKKEN6-2018305847025969386960
BAKKEN5-20182653937491671149813
BAKKEN4-2018202744642583612142
BAKKEN3-2018314584383586443964
BAKKEN2-2018283962543115393130
BAKKEN1-20183142448533153823157

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-202219860494397173014830
BAKKEN11-2022301199122956025192006123
BAKKEN10-2022251029955475201217000
BAKKEN9-2022301139119049928992270239
BAKKEN8-20222511041178534232319980
BAKKEN7-20223112831200572275223490
BAKKEN6-20223013251655614263722470
BAKKEN5-20223016131129737270323130
BAKKEN4-2022113835393259267830
BAKKEN3-20223113861476714304226390
BAKKEN2-20222612611271647314828100
BAKKEN1-20222412781684647326129490
BAKKEN12-20213113967401007277323830

The jump in production, back in 2009 / 2010:

BAKKEN1-201131530954371313852985290
BAKKEN12-201030725368531871946894680
BAKKEN11-20103081058205173110158101580
BAKKEN10-2010311063410784229911530115300
BAKKEN9-20101832132650532324732470
BAKKEN8-201026520758811602630463040
BAKKEN7-2010311612715707680918434184340
BAKKEN6-20103048004734773483948390
BAKKEN5-201031000000
BAKKEN4-2010309651273116112311230
BAKKEN3-20103123422500278260926090
BAKKEN2-20102821751856265231423140
BAKKEN1-20103124372500260258425840
BAKKEN12-20093124522350271248624860
BAKKEN11-20093023632452212237023700

 

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-20222747304705456271696415226
BAKKEN11-20221837853803216465735496216
BAKKEN10-202231652065033218107619344376
BAKKEN9-202230693469832745110589706405
BAKKEN8-202231653565001656101408786375
BAKKEN7-2022317315733319411505513055423
BAKKEN6-2022305887589540401201410038341
BAKKEN5-2022315873585737911229110365335

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2022313082348037748204783876
BAKKEN11-20222939493822551111538112696
BAKKEN10-20223144524477689813658133429
BAKKEN9-2022304357423166991263312231111
BAKKEN8-2022315437552578371263512145186
BAKKEN7-20222730782976368262965962203
BAKKEN6-2022304278438467081150710679560
BAKKEN5-2022315287527183901185911032526
BAKKEN4-20222731602979500367335740752
BAKKEN3-2022242372251739935175488314
BAKKEN2-2022283222314253176453615413
BAKKEN1-202231382640765532669563769
BAKKEN12-202131402839657045815178358
BAKKEN11-202130414740357114812378257

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-202223132613351989794932014748
BAKKEN11-2022302341229824961493014789141
BAKKEN10-2022119149059303323322598
BAKKEN9-2022277808058003631361021
BAKKEN8-202231137513691247591159110
BAKKEN7-202225132313561412551055100
BAKKEN6-202230227522492395899689960
BAKKEN5-202222180718281670548954863
BAKKEN4-202224199119782250755775570

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-20220000000
BAKKEN11-20220000000
BAKKEN10-20220000000
BAKKEN9-20220000000
BAKKEN8-202212140314033309128512850
BAKKEN7-20223138543854448138773210470
BAKKEN6-20223038943895406534012707504
BAKKEN5-20223138113811513532762678390
BAKKEN4-20223019651954396617441444170
BAKKEN3-2022181870187137791636150922
BAKKEN2-2022283282328241392987274374
BAKKEN1-2022313807379748553427317855
BAKKEN12-2021313724368750103456320651

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:

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

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2022312202122017245621712816013717
BAKKEN11-2022292391823917284631764216355812
BAKKEN10-20223132043320603543422915207061810
BAKKEN9-20222832118318553253217178169078
BAKKEN8-2022127154705895425499533862

Wells of interest:

Name change;

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