Locator: 46405MUSIC.
Coming to America:
Wednesday, December 27, 2023
The "Magic" Of The Bakken; Updating Some Incredible MRO Sanish Wells In The Incredible Antelope Oil Field -- December 27, 2023
Locator: 46404B.
Take another look at these wells:
- they all just went off line;
- these are huge wells;
- look at the IPs of some of the wells completed in 2014;
- the newest ones were completed five years ago, and most of the newest one have produced more than 500K bbls of crude oil and some at 750K bbls of crude oil;
From an earlier post, with production data updated:
Two producing wells (DUCs) completed:
- see FAQ #9 at this link
- see these two wells at this link, including graphics
- 33414, 5,524, MRO, Wilbur USA 31-2TFH, Antelope, Sanish pool, API - 33-053-07957; 8.5 million gallons/85%, t4/18; cum 509K 9/12; off line 10/23;
- 33415, 7,572, MRO, June USA 31-2H, Antelope, Sanish pool, API - 33-053-07958; 9.4 million gallons; 84%, t3/18; cum 675K 9/23; off line 10/23;
- wells that might be interesting to check on in a few months:
- 17008, PA/298, MRO, Myrmidon 1-2H, Antelope, Sanish, t8/08; cum 56K 2/18; off-line since 5/17;
- 33491, 4.125, MRO, Shoots USA 41-2H, Antelope, Sanish, t4/18; cum 489K 8/23; off line 9/23;
- 33492, 6,637, MRO, Mamie USA 21-1TFH, Antelope, Sanish, t4/18; cum 733K 8/23; off line 9/23;
- 18471, IA/380, MRO, Hunts Along USA 12-1H, Antelope, Sanish, t1/11; cum 139K 2/18; off-line since 5/17; see update here; cum 284K 8/23; off line 9/23;
- 32865, 3,634, MRO, Demaray USA 41-2TFH, Antelope, Sanish, t4/18; cum 447K 8/23; off line 9/23;
- 33493, 8,160, MRO, Mark USA 11-1H, Antelope, Sanish, t4/18; cum 560K 9/23; off line 10/23;
- 33494, 3,826, MRO, Timothy USA 11-1TFH-2B, Antelope, Sanish, t4/18; cum 530K 9/23; off line 10/23;
The "Magic" Of The Bakken And Horizontal Drilling -- The BR Sequoia Wells -- December 27, 2023
Locator: 46403B.
Based on the names of the proposed wells, and other data points, the horizontals of this proposed 7-well pad will run from the north to the south in the same drilling unit where there are already seven BR Sequoia wells. It is unlikely that the horizontals would be longer than the standard 2-section horizontal because that would take them into a drilling unit "owned" by Hess.
The oldest BR Sequoia well in this drilling unit, the parent well:
- 18140, 540, BR, Sequoia 24-9H, Hawkeye, t9/09; cum 342K 10/23;
A more recent well, a daughter well:
- 27578, 1,296, BR, Sequoia 31-4TFH, t9/14; cum 298K 10/23;
By the way, look at the production data of #18140, the parent well, drilled in 2009, when the neighboring wells were drilled/fracked in 2014:
We'll come back to these wells later, but for now, the maps:
For The Archives -- Market Watch -- December 27, 2023
Locator: 46402INV.
The S&P 500, today, closed at 4,781.58.
The S&P 500 all-time high: 4,796. 56, January 3, 2022.
Tonight, late, hours after the close, the S&P 500 is at 4,839.00.
I don't know about "you," but this is very, very exciting. Even if I were not an investor, I would think this would catch my attention.
The "market, 2023 going into 2024" is tracked here.
INTC: After-Hours -- December 27, 2023
Locator: 46401TECH.
After-hour trades mean nothing.
But this certainly got my attention.
After hours, CNBC crawler, INTC down to $39 and change from $50.76 at the close.
I only saw one trade; need to see more.
If I see it again, I will need a musical interlude and I already have it.
Now, it's back to $50.25. That $39 trade was clearly an anomaly. Now, $50.71.
I'll do the music video anyway.
Doin' time.
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Back to the Bakken
Active rigs: 33.
WTI: $73.97.
No new permits.
Two permits renewed:
- CLR: two Salem permits in Williams County, Dollar Joe.
AMD Update -- December 27, 2023
Locator: 46400TECH.
AMD closed at $146.06.
From twitter this morning, link here:
From another source, link here:
Ticker AMD:
Chips, semiconductor: link here.
- Home page for tech: link here.
- The cloud: link here.
- Streaming: link here. Streaming wars.
- Spatial computing: link here.
- Generative AI: link here.
- Apple Silicon: link here.
- Supercomputers: link here.
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ChatGPT
The NYT sues Microsoft and OpenAI for plagiarism.
If it turns out that ChatGPT is simply nothing more than plagiarized "wikipedia," someone has a problem.
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Family
Topical -- December 27, 2023
Locator: 46399ECON.
Tom Smothers: dies at age 86.
Speaking of "age": some of the CNBC anchors are looking "a bit long in the tooth." But, then again, maybe it's just me.
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Trans Mountain
Back in the news.
Maybe I'm missing something but:
- 99% of a pipeline is 48" diameter;
- 1% of a pipeline is a 12"-diameter pipeline,
- doesn't that make the entire pipeline a 12"-diameter pipeline?
Again, maybe I'm missing something.
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The Economy
This is now the #1 question on CNBC and almost everywhere else: why did analysts get 2023 so wrong?
From a Bloomberg contributor, opinion piece, December 26, 2023.
A related issue, the misery index, an even worse meme for 2023, link here to The WSJ.
According to the Misery Index, Americans shouldn’t be all that miserable. But they might only recently have started to catch on.
Invented by the economist Arthur Okun, the Misery Index is the simple summing of the unemployment rate and the inflation rate. It first rose to prominence in the 1976 presidential election, when Jimmy Carter highlighted its high level in his campaign to unseat President Gerald Ford. This came back to bite him: When President Carter was running for re-election against Ronald Reagan in 1980, the index was even higher.
The increase in unemployment caused by the Covid crisis sent the Misery Index to its highest levels in nearly four decades in April 2020. Unemployment fell, but then inflation picked up, so in the middle of last year it still looked lofty. Since then, with inflation cooling and unemployment low, the index has fallen sharply: In November, with Labor Department figures showing the unemployment rate at 3.7% and consumer prices up 3.1% from a year earlier, it was 6.8, versus 12.5 in June 2022.
The only thing that disappointed me about this article: the authors "beat around the bush." They seems unable to say that the "misery index meme" in 2023 was just that: a meme. And, in this case, just like in Carter vs Reagan: a political meme.
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Green Aviation
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For The Archives To "Settle" The Argument
Tag: PhD, doctor
Apple Watch Ban Temporarily Paused -- December 27, 2023
Locator: 46398AAPL.
Santa Claus rally still in play? S&P 500 nearing another record high.
Apple Watch ban temporarily paused: link here.
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Nvidia: For The Archives
I first mentioned Nvidia on July 10, 2017, in passing. Link here.
The second time, July 15, 2022, and that was related to the "Pelosi reveal.". Link here.
Three Wells Coming Off Confidential List Over Next Three Days -- December 27, 2023
Locator: 46397B.
WTI: $74.42.
Friday, December 29, 2023: 44 for the month; 193 for the quarter, 763 for the year
None.
Thursday, December 28, 2023: 44 for the month; 193 for the quarter, 763 for the year
39231, conf, Grayson Mill, Reidle 6-3F 3H,
39648, conf, Grayson Mill, Fleck 150-100-1-12-7H,
39502, conf, Enerplus, Brown Bear 157-99-1-12-5H,
RBN Energy: a look at total shareholder returns for gas-focused and diversified E&Ps.
The end of one year and the start of another provides a perfect opportunity to take stock — in this case, to examine total shareholder returns for the institutional and individual investors holding stock in oil and gas producers. As it turns out, 2023 was a mixed bag, with gas-focused E&Ps generally benefiting from a rebound in gas prices (current and future), oil-focused companies taking a hit, and diversified producers ending up somewhere in between. In today’s RBN blog, we continue our review of E&Ps’ total shareholder returns (TSR) with a look at Gas-Weighted and Diversified E&Ps.
In Part 1 of this two-part series, we said that E&P shareholder returns went from minimally positive to disastrously negative in the decade preceding 2021, driving all but the most masochistic (or pig-headed) investors out of the industry as share prices plunged more than 90%. Then, the E&P sector swore off its growth-at-all-costs mantra and transitioned to a maintenance capital spending strategy to maximize cash flow to repay debt and reward long-suffering shareholders with dividends and share repurchases. The industry quickly won back investors in 2021-22 as cash flows fueled by higher commodity prices post-COVID sent dividends soaring. As a result, the combination of rising equity prices and higher dividends boosted TSR to record levels.