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Monday, June 12, 2023

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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-202330152151519746055904790034
BAKKEN3-202328130601321352547932781291166
BAKKEN2-202314115601132342806869568701774
BAKKEN1-2023001100000
BAKKEN12-202271793113482390177
BAKKEN11-202227122812669479820733
BAKKEN10-20223114301448114112460935
BAKKEN9-20223014441387120711930886

Small jump in production back in 2015:

BAKKEN5-20153151765020324433251732860
BAKKEN4-201530523354723443336313391287
BAKKEN3-201531706168264937453615842013
BAKKEN2-201527738971195208473222801503
BAKKEN1-20159162618111296104652785
BAKKEN12-20142548074646372628372911887
BAKKEN11-20140000000
BAKKEN10-2014324218315011
BAKKEN9-20142990890726567166338
BAKKEN8-201431100490630074847408
BAKKEN7-2014311015112530274951403

Initial production was very, very poor:

BAKKEN12-201031160216602283471610
BAKKEN11-201030174216582427435630
BAKKEN10-201031209520772989247380
BAKKEN9-2010292437255836710498820
BAKKEN8-201025396336863726354930
BAKKEN7-2010123930377111829799110

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:

BAKKEN7-201731155341565614067615804374
BAKKEN6-201730189761886627363584003689
BAKKEN5-201724113111095218758503003638
BAKKEN4-201721360678062
BAKKEN3-20170000000
BAKKEN2-20171242466411472173
BAKKEN1-201731638914233837409174
BAKKEN12-201630926455285943437230
BAKKEN11-20162982091927197368931
BAKKEN10-201631948895308109578226

And before that, back in 2013:

BAKKEN1-201431297930538481846799542
BAKKEN12-2013315068514519141252340726
BAKKEN11-2013304749490728081428766482
BAKKEN10-2013255025465927361345377837
BAKKEN9-20130000000
BAKKEN8-20130000000
BAKKEN7-201330105594133162938574
BAKKEN6-2013301194137448664036199
BAKKEN5-20133013551218337797520100
BAKKEN4-2013293794671342121438
BAKKEN3-20133111201166368541181174
BAKKEN2-2013281044955353475181126
BAKKEN1-2013311098112538737661129

Initial production:

BAKKEN5-20083131653237838127612760
BAKKEN4-20083034673470931137813780
BAKKEN3-2008314226403011549289280
BAKKEN2-2008294592478212651441440
BAKKEN1-200829644567121849000
BAKKEN12-200731924292352614000
BAKKEN11-2007131288688119000

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. 

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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.