Primus MB, TFH, T2FH -- Petroshale -- An Old Vertical Sanish Well Goes Over One Million Bbls Crude Oil -- June 12, 2023

Locator: 44924B. 

 From the June 9, 2023, NDIC daily activity report:

 

We'll sort out the existing locations / wells at a later date.

For now, the vertical wells, all are "PA" -- permanently (plugged) abandoned:

• 1254, PA, Amerada Hess, Antelope-Madison Unit N-509, Sanish and Madison formations, Antelope oil field, t12/56 and 10/57; cum 68K Madison; 28K Sanish;
• 1339, PA, Amerada Hess, Antelope-Madison Unit N-510, Madison formation, Antelope oil field, t2/57; cum 64K Madison;
• 1499, PA, Hess, Antelope-Madison Unit L-512, Madison formation, Antelope oil field, t9/57; cum 254K Madison;
• 1779, PA, P&P Producing, Harvey Hopkins A3, Sanish formation, Antelope oil field, t5/58; cum 1.123222 million bbls;

The Bakken Never Ceases To Amaze Me -- MRO Wells In Bailey Oil Field -- June 12, 2023

Locator: 44923B.

This DUC reported as completed today:

• 38831, 4,688, MRO, Loralyn 14-33H, Bailey oil field; Dunn County; huge halo effect.

Neighboring, older well:

• 18681, 402, MRO, Eckelberg Farm 24-33H, Bailey oil field, t7/10; cum 385K 4/23; recent production: cum 449K 12/23;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2023	30	15215	15197	46055	9047	9003	4
BAKKEN	3-2023	28	13060	13213	52547	9327	8129	1166
BAKKEN	2-2023	14	11560	11323	42806	8695	6870	1774
BAKKEN	1-2023	0	0	110	0	0	0	0
BAKKEN	12-2022	7	179	311	348	239	0	177
BAKKEN	11-2022	27	1228	1266	947	982	0	733
BAKKEN	10-2022	31	1430	1448	1141	1246	0	935
BAKKEN	9-2022	30	1444	1387	1207	1193	0	886

Small jump in production back in 2015:

BAKKEN	5-2015	31	5176	5020	3244	3325	1732	860
BAKKEN	4-2015	30	5233	5472	3443	3363	1339	1287
BAKKEN	3-2015	31	7061	6826	4937	4536	1584	2013
BAKKEN	2-2015	27	7389	7119	5208	4732	2280	1503
BAKKEN	1-2015	9	1626	1811	1296	1046	52	785
BAKKEN	12-2014	25	4807	4646	3726	2837	291	1887
BAKKEN	11-2014	0	0	0	0	0	0	0
BAKKEN	10-2014	3	24	218	3	15	0	11
BAKKEN	9-2014	29	908	907	265	671	66	338
BAKKEN	8-2014	31	1004	906	300	748	47	408
BAKKEN	7-2014	31	1015	1125	302	749	51	403

Initial production was very, very poor:

BAKKEN	12-2010	31	1602	1660	228	347	161	0
BAKKEN	11-2010	30	1742	1658	242	743	563	0
BAKKEN	10-2010	31	2095	2077	298	924	738	0
BAKKEN	9-2010	29	2437	2558	367	1049	882	0
BAKKEN	8-2010	25	3963	3686	372	635	493	0
BAKKEN	7-2010	12	3930	3771	1182	979	911	0

Another neighboring well remains off line:

• 16704, 398, MRO, Darcy 34-24H, Bailey, t12/07; cum486K 12/22;

That well showed a jump in production in 2017:

BAKKEN	7-2017	31	15534	15656	14067	6158	0	4374
BAKKEN	6-2017	30	18976	18866	27363	5840	0	3689
BAKKEN	5-2017	24	11311	10952	18758	5030	0	3638
BAKKEN	4-2017	2	136	0	6	78	0	62
BAKKEN	3-2017	0	0	0	0	0	0	0
BAKKEN	2-2017	12	42	466	41	147	21	73
BAKKEN	1-2017	31	638	914	233	837	409	174
BAKKEN	12-2016	30	926	455	285	943	437	230
BAKKEN	11-2016	29	820	919	271	973	689	31
BAKKEN	10-2016	31	948	895	308	1095	782	26

And before that, back in 2013:

BAKKEN	1-2014	31	2979	3053	848	1846	799	542
BAKKEN	12-2013	31	5068	5145	1914	1252	340	726
BAKKEN	11-2013	30	4749	4907	2808	1428	766	482
BAKKEN	10-2013	25	5025	4659	2736	1345	377	837
BAKKEN	9-2013	0	0	0	0	0	0	0
BAKKEN	8-2013	0	0	0	0	0	0	0
BAKKEN	7-2013	30	1055	941	331	629	385	74
BAKKEN	6-2013	30	1194	1374	486	640	361	99
BAKKEN	5-2013	30	1355	1218	337	797	520	100
BAKKEN	4-2013	29	379	467	134	212	143	8
BAKKEN	3-2013	31	1120	1166	368	541	181	174
BAKKEN	2-2013	28	1044	955	353	475	181	126
BAKKEN	1-2013	31	1098	1125	387	376	61	129

Initial production:

BAKKEN	5-2008	31	3165	3237	838	1276	1276	0
BAKKEN	4-2008	30	3467	3470	931	1378	1378	0
BAKKEN	3-2008	31	4226	4030	1154	928	928	0
BAKKEN	2-2008	29	4592	4782	1265	144	144	0
BAKKEN	1-2008	29	6445	6712	1849	0	0	0
BAKKEN	12-2007	31	9242	9235	2614	0	0	0
BAKKEN	11-2007	13	1288	688	119	0	0	0

And, in the same area, another well, even more interesting, but we'll get to it when we get to it. The well:

• 16952, 508, MRO, Christensen 34-33H, Bailey, t6/08; cum 580K 4/23;

The Market Has Moved On And So Have I -- June 12, 2023

 Locator: 44922B.

The market today:

Oil: I've waited two decades for oil to breakout and we're back where we began. And the trend is for more pain. I've moved on. At best, oil companies have become utilities. If you like utilities, you’ll love oil companies. And if you like utilities, you’ll love bonds. We talked about that out at the pool last night. And that’s where I’m headed now — out to the pool.

Tech: OMG. 

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

Active rigs: 38.

WTI: $67.23. Down a whopping 4.2%.

Four new permits, #39969 - #39972, inclusive:

• Operator: Crescent Point Energy
• Field:Winner (Williams)
• Comments:
• CPEUS has permits for ffour CPEUUSC Holmes wells, lot 2 section 5-158-100; 
• to be sited 350 FNL and between 1660 FEL and 1785 FEL

Six permits renewed:

• BR: Kirklandfill (3) and Morganfill (3), all SWSE 21-150-95; Pershing oil field, McKenzie

Five producing wells (DUCs) reported as completed:

• 38831, 4,688, MRO, Loralyn 14-33H, Bailey oil field; Dunn County; huge halo effect.
  
• 39189, 612, Ovintiv, Rolfsrud 152-96-32-29-4H, McKenzie County;
• 39190, 991, Ovintiv, Rolfsrud 152-96-32-29-15H, McKenzie County;
• 39191, 1,432, Ovintiv, Rolfsrud 152-96-32-29-5H, McKenzie County;
• 39192, 1,268, Ovintiv, Rolfsrud 152-96-32-29-16H, McKenzie County;

Back To Basics -- Summer -- 2023 -- June 12, 2023

Locator: 44921BOOKS.

*************************
101 Days Of Summer

Day 16.

Biking: Breezy. On a scale of 1 - 10, a seven for biking. Mileage to library, 4.9 miles each way. Almost exactly 30 minutes at a relatively leisurely pace in 90+ degree weather.

My goal: to get back to what I was doing in 2004 -- a lot of reading and making each summer the best possible summer I can/could make that summer within the constraints imposed.

Pool: one hour. In the pool, I’m always swimming or at least moving if Sophia joins in. But she’s usually with her friends.

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

The four books today which caught my attention. I may order one or two from Amazon later, and I may or may not get back to all of them any time soon.

• The Story of the Jews, Volume 1 and Volume 2; Simon Schama.
• Slaughterhouse Five, Kurt Vonnegut.
• The World of Raymond Chandler, In His Own Words, edited by Barry Day
• The Most Dangerous Book: The Battle for James Joyce's Ulysses, Kevin Birmingham, c. 2014. This is one I will probably have to order from Amazon. [Hard copy ordered for $10. No additional shipping charge.]
  

The Ulysses book could become the summer book.

*********************
Barron's

May 29, 2023
June 5, 2023

• "Big Techs Become Even Bigger Winners, Driven by AI Craze" 
• "Apple's $5,000 Mixed-Reality Headset: Real Genius or Reaching"
• "Can Nvidia Stay Sky-High? Not If History Is A Guide"
• "Netflix's Password Crackdown Is Good For Shares, Bad For My Kids," Eric J. Savitz
• "AI Is Going To Change Investing. Here's How It Could Play Out"
• "It's Time To Sell Nvidia Stock, Says the 'Dean Of Valuation'" -- Jack Hough, June 5, 2023
• "Inside Nvidia's AI Computer, A Lot Of Supers" 
  

Why I don't / won't subscribe to Barron's:

So wrong on so many levels.

75 cents / day.

Starbucks regular coffee: $2.75 / cup.

Jack Hough's article on Apple's "headset" is another reason I won't subscribe to Barron's. It's hard to believe Hough write the article before the WWDC keynote where the device was introduced. Like every other writer who wrote before Tim Cook announced it, Hough completely misunderstood where Apple is moving with this new device. We talked about that over the weekend, and so far, our conversation is better than any I've seen in the mainstream media.

Tech Today — June 12, 2023

Locator: 44920INV.
Locator: 44912INV.

Later, 9:39 a.m. CDT:

Original Post

BRK-B: all the "financial" sites over the weekend were crowing that BRK hit a 52-week high.

It sure didn't feel like that was particularly good news. Go back just three months earlier, to March, 2022:

And, BRK-B hit that 52-week high on the back of tech, specifically: AAPL. AAPL saved Buffett.

Meanwhile, over ten years, BRK-B reeturned thhe S&P 500:

AMD: flirting with a new 52-week high.

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

GM Keeps Investing In ICE Technology -- June 12, 2023

Locator: 44919INV.

Link here.

My hunch: we're not seeing investments like this in Europe.

DE Is Having A Great Day -- June 12, 2023

Locator: 44918INV.

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.  

DC Is MT -- June 12, 2023

Locator: 44917ECON.

Link here.

I wonder if USAF / Pentagon drone operators can work from home?

SCOTUS: A Huge Case Not Widely Reported -- June 12, 2023

Locator: 44916LAW.

Links everywhere but not "widely reported" (yet) in mainstream media.

It was a huge decision. And the "right" decision.

But there's another data point regarding this case that seems to be missed by every journalist reporting the story.

Stay tuned. News at 10:00.

Tech Having An Incredibly Good Day -- June 12, 2023

Locator: 44915TECH.

TSM:

NVDA; flirting with a 52-week high:

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.  

15-Inch MacBook -- June 12, 2023

Locator: 44914AAPL.

Link here.

In all the excitement over Apple's announcement of Vision Pro last week, I did not spend much time on Apple's new products. It's too bad. These were incredible products and prices were not increased. 

Having said that, these M2 laptops will probably be "replaced" by M3 laptops late next year.

But for now, those entering college this autumn and those in college needing to upgrade are in for a real treat.

The base model at $1,299 is all any college student needs. Trust me on this one. [Later, June 15, 2023: already on sale at Amazon. $100 off list price: $1,199.]

Today: 

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.  

NIO -- Update -- June 12, 2023

Locator: 44913EVS.

EVs: link here. Scorecard. 

Link here.

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.  

Silk Purse From A Cow's Ear? June 12, 2023

Locator: 44912INV.

Later, 9:39 a.m. CDT:

Original Post

BRK-B: all the "financial" sites over the weekend were crowing that BRK hit a 52-week high.

It sure didn't feel like that was particularly good news. Go back just three months earlier, to March, 2022:

And, BRK-B hit that 52-week high on the back of tech, specifically: AAPL. AAPL saved Buffett.

Meanwhile, over ten years, BRK-B reeturned thhe S&P 500:

AMD: flirting with a new 52-week high.

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.  

WTI Drops Three Percent Overnight Despite Saudi Cut -- June 12, 2023

Locator: 44911B.

*************************
101 Days Of Summer

Day 16.

Breezy. On a scale of 1 - 10, a seven.

*************************
WTI

Sad face: I posted this last night --

The only “thing” in recession? Oil stocks. I’ve been waiting two decades for a breakout in the price of WTI. Time to move on.

This morning: 

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

WTI: $68.05.

Tuesday, June 13, 2023: 28 for the month; 136 for the quarter, 391 for the year
39301, conf, CLR, Skachenko Federal 9-31H,
38925, conf, Lime Rock Resources, Scott 4-7-6H-143-95L,

Monday, June 12, 2023: 26 for the month; 134 for the quarter, 389 for the year
39259, conf, Stephens Williston LLC DBA SEG Williston, Greenbrier 15591W-0211-7HSL,

Sunday, June 11, 2023: 25 for the month; 133 for the quarter, 388 for the year
39300, conf, CLR, Skachenko FIU 8-31H1,

Saturday, June 10, 2023: 24 for the month; 132 for the quarter, 387 for the year
39258, conf, Stephens Williston LLC DBA SEG Williston, Greenbrier 15591W-0211-6H,

RBN Energy: midstream giants prepare for more NGLs bound for export docks.

U.S. production of natural gas liquids and NGL “purity products” continues to rise (aside from occasional hiccups) and domestic demand for the commodities remains flat, so — you know what’s coming — the vast majority of incremental output of ethane, LPG and natural gasoline is headed for export docks. That’s good news, and so is the fact that the midstream sector has the infrastructure in place — or under development — to handle the increasing volumes of NGLs coming their way. In today’s RBN blog, we begin a series on the U.S.’s robust-and-growing networks of NGL pipelines, fractionators and export terminals, starting with a look at Energy Transfer’s “well-to-water” system for NGL gathering, processing, transportation, fractionation, storage and shipment in Texas.