Eight New Permits; Five Permits Canceled; A Relatively Blah Day -- April 20, 2023

Locator: 44435B.

Active rigs: 44.

WTI: $77.29.

Natural gas: $2.193.

Nine new permits, #39837 - #39845, inclusive:

• Operators: CLR (8); Kraken
• Fields: Elm Tree (McKenzie); Hebron (Williams)
• Comments:
• Kraken has a permit for a Wiseman well, lot 8 section 31-155-103, 
• to be sited 2515 FNL and 345 FEL;
• CLR has permits for seven Harms Federal wells and one North Tarentaise Federal well; SENW 19-153-94 for the North Tarentaise well and SESW 32-153-93 for the Harms Federal wells;  
• North Tarentaise to be sited 1649 FNL and 2318 FWL; the Harms Federal wells will be sited 435 FSL and 527 FSL and between 1323 FWL and 1618 FWL

Five permits canceled:

• KODA Resources (3): three Ekin permits, Smoky Butte, Divide County;
• CLR; one Thaxton permit, West Capa, Williams;
• Enerplus: one Zebra permit, McGregory Buttes, Dunn County;

********************************
CLR Harms Federal Wells

An old CLR Harms Federal well:

• 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 506K 2/23; no evidence of a halo effect;
  

The newer CLR Harms Federal wells:

• 37989, loc/A, CLR, Harms Federal 17-33H1, Antelope, t--; cum 363K 2/23;
• 37988, loc/A, CLR, Harms Federal 18-33H, Antelope, t--; cum 598K 2/23;

CLR Harms Federal Wells -- Antelope / Elm Tree

Locator: 44434B.

Nine new permits, #39837 - #39845, inclusive:

• Operators: CLR (8); Kraken
• Fields: Elm Tree (McKenzie); Hebron (Williams)
• Comments:
• Kraken has a permit for a Wiseman well, lot 8 section 31-155-103, 
• to be sited 2515 FNL and 345 FEL;
• CLR has permits for seven Harms Federal wells and one North Tarentaise Federal well; SENW 19-153-94 for the North Tarentaise well and SESW 32-153-93 for the Harms Federal wells;  
• North Tarentaise to be sited 1649 FNL and 2318 FWL; the Harms Federal wells will be sited 435 FSL and 527 FSL and between 1323 FWL and 1618 FWL

********************************
CLR Harms Federal Wells

An old CLR Harms Federal well:

• 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 518K 6/23; no evidence of a halo effect;
  

The newer CLR Harms Federal wells:

• 37989, loc/A, CLR, Harms Federal 17-33H1, Antelope, t--; cum 406K 6/23;
• 37988, loc/A, CLR, Harms Federal 18-33H, Antelope, t--; cum 642K 6/23;
  

CLR -- Several New Spacing Units Proposed -- Jim Creek / Little Knife-Bakken -- April 20, 2023

Locator: 44433B.

From the May, 2023, dockets.

Enerplus -- Two Cases, Twenty Wells Each -- April 20, 2023

Locator: 44432B.

From the May, 2023, dockets.

Quick! How Many Wells? -- Zavanna -- April 20, 2023

Locator: 44432B.  

From the May, 2023, dockets, quick! How many wells?

Nine New Permits On A Generally Blah Day; CLR Harms Federal Wells -- April 20, 2023

Locator: 44431B. 

Charges against Alec Baldwin dropped: the gun fired itself. Alex didn't pull the trigger. Happens all the time.

Unscheduled disassembly. Best "line" ever. I just love Elon Musk. LOL.

 

Grain shifts, link here.

 

Music:

• I'm on the treadmill not less than one-hour every day.
• I work out -- weights five days / seven-day week.
• cycling: I've gotten lazy -- it depends on the wind.
  
• always looking for better music to treadmill and work out.
• one suggestion: Jean Michel Jarre.

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

Active rigs:44.

WTI: $77.29.

Natural gas: $2.192.

Nine new permits, #39837 - #39845, inclusive:

• Operators: CLR (8); Kraken
• Fields: Elm Tree (McKenzie); Hebron (Williams)
• Comments:
• Kraken has a permit for a Wiseman well, lot 8 section 31-155-103, 
• to be sited 2515 FNL and 345 FEL;
• CLR has permits for seven Harms Federal wells and one North Tarentaise Federal well; SENW 19-153-94 for the North Tarentaise well and SESW 32-153-93 for the Harms Federal wells;  
• North Tarentaise to be sited 1649 FNL and 2318 FWL; the Harms Federal wells will be sited 435 FSL and 527 FSL and between 1323 FWL and 1618 FWL

Five permits canceled:

• KODA Resources: three Ekin permits in Smoky Butte, Divide County;
• CLR: a Thaxton permit in Williams County, West Capa;
• Enerplus: a Zebra permit in McGregory Buttes, Dunn County;

********************************
CLR Harms Federal Wells

An old CLR Harms Federal well:

• 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 506K 2/23; no evidence of a halo effect;
  

The newer CLR Harms Federal wells:

• 37989, loc/A, CLR, Harms Federal 17-33H1, Antelope, t--; cum 363K 2/23;
• 37988, loc/A, CLR, Harms Federal 18-33H, Antelope, t--; cum 598K 2/23;

Quick! How Many Wells? -- Zavanna -- April 20, 2023

Locator: 44430B.    

From the May, 2023, dockets, quick! How many wells?

Streaming Wars: YouTube Still Winning -- April 20, 2023

Locator: 44429SW.   

Streaming: link here. Streaming wars.

Who's winning the streaming wars, on IndieWire.

Today, on social media, who's winning? YouTube!

Link here. 

On another note:

The chart:

GDPNow -- April 20, 2023

Locator: 44428E.   

Link here.

Hearing Dockets -- May, 2023

Locator: 44427B.   

Link here. 

The NDIC hearing dockets are tracked here.  

The usual disclaimer applies. As usual this is done very quickly and using shorthand for my benefit. There will be factual and typographical errors on this page. Do not quote me on any of this. It's for my personal use to help me better understand the Bakken. Do not read it. If you do happen to read it, do not make any investment, financial, job, relationship, or travel plans based on anything you read here or think you may have read here. If this stuff is important to you, and I doubt that it is, but if it is, go to the source.

Wednesday.
May 17, 2023
7 pages

These are cases, not permits. 

• 30046, Phoenix, Ross-Bakken, establish an overlapping 1920-acre unit, sections 19/30/31-156-89; 3 wells; Mountrail.
• 30047, Phoenix, Stanley-Bakken, establish an overlapping 1280-acre unit, sections 11/14-155-90; 3 wells; Mountrail.
• 30048, Phoenix, Stanley and/or Parshall-Bakken, establish an overlapping 1920-acre unit, sections 24-155-90, and 19/20-155-89; 3 wells; Mountrail.
• 30049, Phoenix, Smoky Butte and/or Green Lake-Bakken; establish an overlapping 1920-acre unit, sections 2-159-100, and 26/35-160-100; 3 wells; Williams, Divide.
• 30050, Phoenix, Big Stone-Bakken; establish an overlapping 1920-acre unit, sections 5/8/17-159-98; 5 wells; Williams.
• 30051, Oasis, Sorkness-Bakken; i) establish an overlapping laydown 1280-acre unit; sections 1/2-157-93; 4 wells; ii) establish two overlapping standup 1920-acre units, sections 11/14/23 and sections 12/13/24-157-93; 3 wells on each; iii) establish an overlapping 3840-acre unit, sections 11/12/13/14/23/24-157-93; one well; Mountrail.
  
• 30052, Oasis, Bonetrail-Bakken, i) establish an overlapping standup 1920-acre unit, sections 3/10/15-156-102, 4 wells; ii) establish an overlapping standup 1920-acre unit, sections 22/27/34-156-102; 3 wells; Willliams.
• 30053, Hess, Sorkness and/or Big Butte-Bakken; establish an overlapping 25600-acre unit, sections 27/28/33/34-157-93, 1 well, Mountrail.
  
• 30054, Hess, Beaver Lodge-Bakken, establish an overlapping 2560-acre unit, sections 28/29/32/33-156-95, one well, Williams County.
• 30055, Hess, Dollar Joe-Bakken, establish an overlapping 25600-acre unit, sections 27/28/33/34-156-97; one well; Williams.
• 30056,, Hess, Manitou-Bakken, establish an overlapping 2560-acre unit, sections 29/30/31/32-156-94, one well, Mountrail.
• 30057, Hess, Ray-Bakken, establish an overlapping 25600-acre unit, sections 5/6/7/8-156-97, one well; Williams.
• 30058, Oasis, pooling
• 30059, Oasis, pooling
• 30060, Oasis, pooling
• 30061, Oasis, pooling
• 30062, Oasis, pooling
• 30063, Oasis, pooling
• 30064, Hess, pooling
• 30065, Hess, pooling
• 30066, Hess, pooling
• 30067, Hess, pooling
• 30068, Hess, pooling
• 30069, Whiting, pooling 
• 30070, Whiting, pooling 
• 30071, Whiting, pooling 
• 30072, Whiting, pooling 
• 30073, Whiting, pooling 
• 30074, Whiting, pooling 
  

Thursday.
May 18, 2023
12 pages

These are cases, not permits. 

• 30075, NDIC, Buffalow Wallow, Bully, or Red Wing Creek-Bakken,
• 30076, EMEP Operating, 
• 30077, Grayson Mill, 
• 30078, Grayson Mill,
• 30079, Liberty Resources, Enget Lake-Bakken
• 30080,
• 30081, see this post;
• 30082, see this post; 
• 30083, see this post;
  
• 30084, see this post;
• 30085, see this post;
• 30086, CLR, open receptacle
• 30087, CRL, open receptacle
• 30087, open receptacle
• 30088, open receptacle
• 30089, open receptacle
• 30090, open receptacle
• 30091, open receptacle
• 30092, Grayson Mill, pooling, 
• 30093, Grayson Mill, pooling, 
• 30094, Grayson Mill, pooling, 
• 30095, Grayson Mill, pooling, 
• 30096, Grayson Mill, pooling, 
• 30097, CLR, pooling,
• 30098, CLR, pooling, 
• 30099, CLR, pooling, 
• 30100, CLR, pooling, 
• 30101, CLR, pooling, 
• 30102, Liberty Resources, pooling,
• 30103, Liberty Resources, pooling,
• 30104, Ragnar, pooling,
• 30105, Ragnar, pooling,
• 30106, Ragnar, pooling,
• 30107, Zavanna, Stony Creek-Bakken, sections 24/25-155-100, complete six wells on an existing 1280-acre unit, sections 24/25-155-100; Williams. 
• 30108, Zavanna, Stockyard Creek-Bakken, complete seven wells, on a 1280-acre unit; sections 26/35-154-99; two wells on an existing 640-acre unit, section 24-154-99; Williams. 
• 30109, Enerplus, commingling;
• 30110, Slawson, commingling;
• 30111, Slawson, commingling;
• 30112, Slawson, commingling;
• 30113, Hunt, SWD
• 30114, Hunt, SWD
• 30115, Formentera, SWD
  

Friday.
May 19, 2023
1 page

These are cases, not permits.

• 30116, Scout Energy Management, to drill the MHMU 19H well, section 24-139-102, Billings County.
  
• 30117, Scout Energy Management, to drill the MHMU 2R well, section 10-139-102, Billings County.
• 30118, Scout Energy Management, to drill the MHMU G-815R well, section 2-139-101, Billings County.
• 30119, Scout Energy Management, releasing bonds for certain wells located in Dunn and Burke counties
  

Got Milk? April 20, 2023

Locator: 44426M.   

Link here.

This is a "full English breakfast." I assume they're talking about a "full English breakfast" served in the US since prices are in dollars, but I don't know.

And, yes, again, it's all about eggs. LOL.

Wow, I don't think I've had a "full English breakfast." Ever.

Fact check:

So:

• March, 2021: $4.10 / gallon.
• March, 2023: $4.36 / gallon.

• Six percent over two years. 

In December, 2022: $4.44.

• It appears milk decreased in price in the past few months.

And, of course, there's "something else" about milk but that can be saved for later. Already too much time and space on this.

That 40% y/y price increase for milk at the restaurant suggests something else ..... and, it's not wages.

Free Cash Flow: TSLA Vs CLR -- April 20, 2023

Locator: 44425B.    

Updates

April 21, 2023: link here.

Original Post

Tesla earnings. Story everywhere. This needs to be fact-checked, but if accurate, wow! That's all I can say. Link here.

CLR: to put that Tesla FCF into perspective:

Free cash flow for AAPL: $30 billion in one quarter; $111 billion in full year, a 20% increase year/year.

Huge Week For Dividend Announcements; WTI Continuues To Drift Lower -- April 20, 2023

Locator: 44424B.  

Ford to Norway: link here. Not a good sign. Deliveries begin in 2024.

Space X: a bad day.

WTI: down 2.43% in mid-morning trading; down almost $2 / bbl; trading at $77.24. Rumors: Dylan Mulvaney just endorsed US crude oil.

T: link here. T sells off after earnings report. 

TSM earnings. Link here.

Tesla earnings. Story everywhere. This needs to be fact-checked, but if accurate, wow! That's all I can say. Link here. Tesla shares down about 10% yesterday if one includes after-hour trades? Pre-market today, TSLA down over 7%. What happened? Did Tesla give Dylan Mulvaney a free Tesla?

CLR: to put that Tesla FCF into perspective:

JNJ: raises dividend by 5.3%.

Costco: raises dividend 13.3 percent.

Sunoco: raises dividend, from 49 cents to 51 cents. Disappointing; needs to do better.

US-Mexico LNG, link here.

Wind power: profitably problem. Nothing new. Just an update. Link here.

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

Active rigs: 44.

Peter Zeihan newsletter.

WTI: $77.90.

Natural gas: $2.243.

Friday, April 21, 2023: 39 for the month; 39 for the quarter, 294 for the year
39062, conf, KODA Resources, Bock 3229-2 BH,
37474, conf, Petro-Hunt, Watterud 160-95-11C-2-3H,

Thursday, April 20, 2023: 37 for the month; 37 for the quarter, 292 for the year
38869, conf, Lime Rock Resources, Neal 4-33-28H-144-95,
37475, conf, Petro-Hunt, Watterud 160-95-14B-23-3H,

RBN Energy: their finances now stronger than ever, E&Ps assess what's ahead. Archived.

The Shale Revolution transformed the U.S. oil and gas industry operationally and functionally in the late 2000s and early 2010s, but the most significant changes occurred years later. Through the middle and latter parts of the last decade, E&Ps continued to improve their drilling-and-completion techniques and significantly increased production as they gained experience.

This production growth was enabled by — or driven by, depending on the perspective — midstream companies’ aggressive efforts to build out the pipelines, gas processing plants and other infrastructure required to handle higher production volumes and exports. More recently, capital market constraints, the Covid pandemic and a looming ESG narrative have propelled the industry into the next phase of its evolution, highlighted by fiscal discipline, which delivers improved shareholder returns through managed capital spending. But how long will this stage last — and what’s next? In today’s RBN blog, we examine the energy industry’s maturation and the differences between this transformation and those in other industries.