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Wednesday, July 12, 2023

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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-202331283228201256672767833
BAKKEN4-202330314731461576351047723
BAKKEN3-2023313605358719457965487462
BAKKEN2-202322186818141492920761391652
BAKKEN1-20230000000
BAKKEN12-20220000000
BAKKEN11-20220000000
BAKKEN10-202230440000
BAKKEN9-202227198919452492141047359
BAKKEN8-20220000000
BAKKEN7-20220000000
BAKKEN6-20220000000
BAKKEN5-20220000000
BAKKEN4-20220000000
BAKKEN3-202221792117711174651690
BAKKEN2-2022288227041529000
BAKKEN1-202231965104218049114010
BAKKEN12-20213195176516438153590
BAKKEN11-20213070886518318313880

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. 

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

Link here

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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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20233148684890833288518647204
BAKKEN4-202330485149451179790858824261
BAKKEN3-20233058055783817486038129474
BAKKEN2-20232850005002909268645921943
BAKKEN1-2023315896587110690715961221037
BAKKEN12-20222953025321888552864403883
BAKKEN11-202230626162851358669796240739
BAKKEN10-202231784278461904580577804253
BAKKEN9-20222158185696106737283197531
BAKKEN8-2022810731030279100796443
BAKKEN7-20220000000
BAKKEN6-20220000000
BAKKEN5-20220000000
BAKKEN4-202200130000
BAKKEN3-20221126727938540834266
BAKKEN2-202228468475343644531113
BAKKEN1-202231583565317803660143
BAKKEN12-202131500500349771655116
BAKKEN11-20212036035822255447876
BAKKEN10-2021274994992726465994

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20233122722449128029972674191
BAKKEN4-20233023552223152430102650194
BAKKEN3-202331208520702684209419900
BAKKEN2-202328163114862586142413384
BAKKEN1-20234927615976526
BAKKEN12-20220000000
BAKKEN11-20220000000
BAKKEN10-20220000000
BAKKEN9-20220000000
BAKKEN8-20220000000
BAKKEN7-20220000000
  • 37782, loc/A, MRO, Spencer USA 11-17TFH, Van Hook, t--; cum 309K 5/23; production, full:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20233170147102676316884149811357
BAKKEN4-20231637614055391480927235492
BAKKEN3-202331930193797940202071949962
BAKKEN2-2023288783886092791621115459147
BAKKEN1-202320544958907908932474841398
BAKKEN12-20222663786070575813165114531178
BAKKEN11-202230101201017585112034619462159
BAKKEN10-20223110604106209880225392177210
BAKKEN9-2022301155411686101152269420563733
BAKKEN8-20223112716123571165125140216621951
BAKKEN7-20223113658140831200025853242230
BAKKEN6-2022301562915160124142751525199532
BAKKEN5-2022311893618839149253321930586513
BAKKEN4-20222817650182601555727143224122796
BAKKEN3-20222924731256002095437115307623759
BAKKEN2-2022282641426399228143462131739144
BAKKEN1-20223130605302113145433619304650
BAKKEN12-202131288132775934895284732634793
BAKKEN11-2021303172631884397773065028143296
BAKKEN10-2021181514014189177951163010188299

 *******************************
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:

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.

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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:
BAKKEN1-201731452546676932389211485
BAKKEN12-2016314900468576523241662477
BAKKEN11-20163053505354105924651576705
BAKKEN10-20163054345435122224378231436
BAKKEN9-20163054235422144822471605458
BAKKEN8-20163151655225202819711425356
BAKKEN7-20163150124947277820221281551
BAKKEN6-201614176416851849860626152
BAKKEN5-20160000000
BAKKEN4-20160000000
BAKKEN3-20160000000
BAKKEN2-201600370000
BAKKEN1-201620169017131042263204795
BAKKEN12-201531270427069233372370777
BAKKEN11-201530235723486927415132050
BAKKEN10-2015312129213666254811671197