Old Hunt Well In Bailey Oil Field Doubles It's Production -- July 12, 2023

Locator: 45110B.

The well:

• 21567, 471, Hunt, Quill 2-10-3H, Bailey, t5/12; cum 265K 5/23; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2023	31	2832	2820	12566	727	678	33
BAKKEN	4-2023	30	3147	3146	15763	510	477	23
BAKKEN	3-2023	31	3605	3587	19457	965	487	462
BAKKEN	2-2023	22	1868	1814	14929	2076	1391	652
BAKKEN	1-2023	0	0	0	0	0	0	0
BAKKEN	12-2022	0	0	0	0	0	0	0
BAKKEN	11-2022	0	0	0	0	0	0	0
BAKKEN	10-2022	3	0	44	0	0	0	0
BAKKEN	9-2022	27	1989	1945	24921	410	47	359
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	21	792	1177	1117	465	169	0
BAKKEN	2-2022	28	822	704	1529	0	0	0
BAKKEN	1-2022	31	965	1042	1804	911	401	0
BAKKEN	12-2021	31	951	765	1643	815	359	0
BAKKEN	11-2021	30	708	865	1831	831	388	0

End-Of-Day-Report -- July 12, 2023

Locator: 45109B. 

Texas:

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

Active rigs: 36.

WTI: $75.75.

• Bakken proxy: $80.71.

Four new permits, #40030 - #40033 inclusive:

• Operator: Hunt Oil
• Field: Parshall (Mountrail)
• Comments:
• Hunt has permits for two Oakland and two Shell wells, SESE 31-154-89; 
• all to be sited 365 FSL and between 300 FEL and 390 FEL;

Two permits renewed:

• SOGC (Sinclair); one Olson Federal and one Bighorn; the former in Little Knife; the latter in Mary oil field.

Four producing wells (DUCs) reported as completed:

• 37899, 170, BR,
• 30860, 0, BR,
• 39072, 238, Crescent Point,
• 39073, 76, Crescent Point,

Elon Musk Secures "Thousands" Of NVDA GPU Processors For New AI Company; For The Super-Rich -- A "Goldilocks" Economy -- July 12 2023

Locator: 45108CHIPS.
Locator: 45108INV.  
Locator: 45108ECON. 

*****************************
Musk, New AI Company, And "Thousands Of NVDA GPU Processors"

Link here. 

*******************************
Oil And The Market

WTI: Let's just call it $76 and go swimming. Up 1.5% today; up $1.13.

Most noteworthy: the VIX.

Ten-Year-Old Hess Bakken Well With 10-Fold Jump In Production -- July 12, 2023

Locator: 45107B.  

The well:

• 24561, 533, Hess, EN-Hermanson-154-93-0235H-4, Robinson Lake, t8/13; cum 204K 5/23; F, recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2023	31	4868	4890	8332	8851	8647	204
BAKKEN	4-2023	30	4851	4945	11797	9085	8824	261
BAKKEN	3-2023	30	5805	5783	8174	8603	8129	474
BAKKEN	2-2023	28	5000	5002	9092	6864	5921	943
BAKKEN	1-2023	31	5896	5871	10690	7159	6122	1037
BAKKEN	12-2022	29	5302	5321	8885	5286	4403	883
BAKKEN	11-2022	30	6261	6285	13586	6979	6240	739
BAKKEN	10-2022	31	7842	7846	19045	8057	7804	253
BAKKEN	9-2022	21	5818	5696	1067	3728	3197	531
BAKKEN	8-2022	8	1073	1030	279	1007	964	43
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	13	0	0	0	0
BAKKEN	3-2022	11	267	279	385	408	342	66
BAKKEN	2-2022	28	468	475	343	644	531	113
BAKKEN	1-2022	31	583	565	317	803	660	143
BAKKEN	12-2021	31	500	500	349	771	655	116
BAKKEN	11-2021	20	360	358	222	554	478	76
BAKKEN	10-2021	27	499	499	272	646	599	4

Updating A Couple Of Old MRO Wells -- July 12, 2023

Locator: 45106B.  

Previous note:

• December 4, 2022: 19181, second well on two-well pad just completed. After two years, coming back on line 1/23? See this post.

The well with production update: 

• 19181, 1,088, MRO, Elk USA 11-17H, Van Hook, t5/11; cum 519K 2/23; cum 525K 5/23;
  

The reason this well was off line was due to fact that its sister well, #37782, was in the process of being completed (fracked). That well is followed here.

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2023	31	2272	2449	1280	2997	2674	191
BAKKEN	4-2023	30	2355	2223	1524	3010	2650	194
BAKKEN	3-2023	31	2085	2070	2684	2094	1990	0
BAKKEN	2-2023	28	1631	1486	2586	1424	1338	4
BAKKEN	1-2023	4	92	76	15	97	65	26
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	0	0	0	0	0	0	0
BAKKEN	7-2022	0	0	0	0	0	0	0

• 37782, loc/A, MRO, Spencer USA 11-17TFH, Van Hook, t--; cum 309K 5/23; production, full:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2023	31	7014	7102	6763	16884	14981	1357
BAKKEN	4-2023	16	3761	4055	3914	8092	7235	492
BAKKEN	3-2023	31	9301	9379	7940	20207	19499	62
BAKKEN	2-2023	28	8783	8860	9279	16211	15459	147
BAKKEN	1-2023	20	5449	5890	7908	9324	7484	1398
BAKKEN	12-2022	26	6378	6070	5758	13165	11453	1178
BAKKEN	11-2022	30	10120	10175	8511	20346	19462	159
BAKKEN	10-2022	31	10604	10620	9880	22539	21772	10
BAKKEN	9-2022	30	11554	11686	10115	22694	20563	733
BAKKEN	8-2022	31	12716	12357	11651	25140	21662	1951
BAKKEN	7-2022	31	13658	14083	12000	25853	24223	0
BAKKEN	6-2022	30	15629	15160	12414	27515	25199	532
BAKKEN	5-2022	31	18936	18839	14925	33219	30586	513
BAKKEN	4-2022	28	17650	18260	15557	27143	22412	2796
BAKKEN	3-2022	29	24731	25600	20954	37115	30762	3759
BAKKEN	2-2022	28	26414	26399	22814	34621	31739	144
BAKKEN	1-2022	31	30605	30211	31454	33619	30465	0
BAKKEN	12-2021	31	28813	27759	34895	28473	26347	93
BAKKEN	11-2021	30	31726	31884	39777	30650	28143	296
BAKKEN	10-2021	18	15140	14189	17795	11630	10188	299

 *******************************
The Book Club

Code Girls: The Untold Story Of The American Women Code Breakers Of WWII, Liza Munch, c 2017. 940.54MUN.

Notes. 

See also, The Naked and the Dead.

Seven Sisters schools.

Word of the day:

• homogamy: marriage between equals.

Background: link here. 

Yamamotao: link here, p. 199 - 201.

Space: The Last Frontier -- Handing It Off To Nigeria -- Oh, Yeah, Like This Will Work -- July 12, 2023

Locator: 45105RUSSIA.  

Oh, yeah, like this will work. Said no one ever.

 *********************************
The Book Club

The Complete Civil War Road Trip Guide, Michael Weeks, c. 2009. 917.3WEE.

Notes.

Shell Makes Fourth Oil And Gas Discovery Off Namibia -- July 12, 2023

Locator: 45104OIL. 

Tell me again "we're" going to run out of natural gas and/or crude oil. In my life time. Ever.

Now:

Earlier:

Link here and here.

From the blog, June 19, 2023:

Weekly EIA Petroleum Report; Bakken Proxy Breaks $80 -- July 12, 2023

Locator: 45103OIL. 

95 best Amazon Prime deals right now: link here. Apple has no less than a dozen on the list, and at the top!

I just sent this cryptic message to our daughter with 3-year-old twins (they can thank Amazon later):

Why a week from now when Amazon has same day delivery? The item I am ordering -- the company cannot keep up with demand! And this is top of the line -- LOL.

Locator: 45102OIL. 

Weekly EIA petroleum report, link here:

• US crude oil in storage increased by a whopping 5.9 million gallons; at 458.1 million gallons in storage, US storage is 1% above the five-year average (tell me again, we're running out of oil)
• imports: yawn
• refiners: huge -- operating at max capacity -- operating at 93.7% of their capacity;
• even distillates increased! Increased by almost 5 million bbls; but still 14% below their five-year average; irrelevant.
• but this is the biggie: jet fuel supplied up 10.5% compared with same four-year period last year.

WTI after the report was released: up 1.1%; up 82 cents; now solidly above $75, trading at $75.65.
Bakken proxy: breaks $80; up 1%; up 79 cents; trading at $80.70. 

*******************************
Huge

And, yes, the family is already planning ....

*************************
Huge

WSJ op-ed.

Inflation Tamed? July 12, 2023

Locator: 45102INV.

Locator: 45094ECON.

Wow, fits my thesis to a "t," as as they say.

Ten greatest surprises for investors for 1H23. I would rank this #2, right behind, "no recession."

My favorite: at the end of the day, it was all about the pandemic (don't take that out of context); finally others are stating the obvious:

Glad to be fully invested.

NVDA -- July 12, 2023

Locator: 45101INV. 

Usual disclaimer applies. No recommendation.

Today:

One year:

This graphic will always haunt me, this ten-year period covers the 2020 debacle:

If Not Now, When? Lucid Falls Short -- July 12, 2023

Locator: 45100EVS. 

Disruptive:

• EVs: link here. Scorecard. 
• cash burn
• EVs charging.  
  

Updates

July 26, 2023: Lucid pops 4.82%.

• Turnaround, July 25, 2023, link here.  
• Benzinga, July 24, 2023, link here but nothing of note.

Original Post

Folks aren't buying these sedans to "save gas." LOL.

For this price, I'll buy a "his" and "hers" Honda Civic.

See this link for background to thesis re: EVs. 

EVs tracked here.

Lucid falls short. Two less in 2Q23 compared to 1Q23. Holy mackerel, this is a bad report:

Luxury electric vehicle maker Lucid Group said Wednesday that it delivered 1,404 of its Air sedans to customers in the second quarter, a bearish update amid demand concerns.

Lucid’s second-quarter deliveries compare with 1,406 deliveries in the first quarter of 2023 and 679 in the second quarter of 2022.

Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the second quarter.

Saudi Arabia Foreign Exchange Reserves -- July 12, 2023

Locator: 45099SAUDI. 

Seems to have been reported "late," but finally reported overnight, July 12, 2023:

Link here.

*********************
Photograph

Norway To Replace Netherlands Groningen -- July 12, 2023

Locator: 45098NG. 

This is how Norway pays for nice things.

Link here and here.

From the blog, June 19, 2023:

*********************
Minor Note 

Link here. 

EOG Well On Eastern Fringe Of The Bakken Just Went Over One Million Bbls Crude Oil Cumulative -- July 12, 2023

Locator: 45097B.

The well, tracked here interesting commentary and map:

• 17222, 1,769, EOG, Austin 18-21H, Parshall, short lateral, open hole, 2 million lbs, t9/08; cum 897K 11/16; cum 1.04 million bbls; off line 4/23; production profile before and after neighboring wells were fracked:

BAKKEN	1-2017	31	4525	4667	693	2389	2114	85
BAKKEN	12-2016	31	4900	4685	765	2324	1662	477
BAKKEN	11-2016	30	5350	5354	1059	2465	1576	705
BAKKEN	10-2016	30	5434	5435	1222	2437	823	1436
BAKKEN	9-2016	30	5423	5422	1448	2247	1605	458
BAKKEN	8-2016	31	5165	5225	2028	1971	1425	356
BAKKEN	7-2016	31	5012	4947	2778	2022	1281	551
BAKKEN	6-2016	14	1764	1685	1849	860	626	152
BAKKEN	5-2016	0	0	0	0	0	0	0
BAKKEN	4-2016	0	0	0	0	0	0	0
BAKKEN	3-2016	0	0	0	0	0	0	0
BAKKEN	2-2016	0	0	37	0	0	0	0
BAKKEN	1-2016	20	1690	1713	104	2263	2047	95
BAKKEN	12-2015	31	2704	2706	92	3337	2370	777
BAKKEN	11-2015	30	2357	2348	69	2741	513	2050
BAKKEN	10-2015	31	2129	2136	66	2548	1167	1197