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Tuesday, January 30, 2024

Three New Permits; Five Permits Renewed; Three Permits Canceled; Nine Producinng DUCs Reported As Completed; MRO With Spectacular Wells In The Killdeer Area -- January 30, 2024

Locator: 46689B.

Wind: wow, look at these Germany numbers. I must be missing something. Link here.

MPC: I figured this was the reason, but I did not know for sure. Great to see this confirmed. Link here.

Ohio-based oil refiner Marathon Petroleum (MPC) saw its Q4 profits exceed analyst expectations, the company reported on Tuesday—thanks in part to OPEC's production cuts.

The U.S. refiner reported a net income of $3.84 per share—or $1.5 billion—for the last quarter of 2023, while analysts estimated a figure far lower, at just $2.20 per share. This overachievement came even as global refining capacity increased, thanks to production cuts by OPEC+ combined with healthy demand, which helped to offset struggling fuel prices.

Marathon's crude oil capacity utilization came in at 91%, for a total throughput of 2.9 million bpd for Q4, while net income attributable to company settled at $1.45 billion. This compares with $3.32 billion in Q4 2022.

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Back To The Bakken

WTI: $77.82.

Active rigs: 39.

Three new permits, #40487 - #40489, inclusive:

  • Operator: Grayson Mill (2); Oasis
  • Fields: Westberg (McKenzie); Camp (McKenzie)
  • Comments:
    • Grayson Mill has permits for twwo WWahuus wells, SESE 12-152-97, 
      • with one to be sited 318 FSL and 664 FEL andd one sited 308 FSL and 515 FEL;
    • Oasis with one permit for a Lee S well,, SWNW 8-152-101, 
      • to be ssited 20032 FNL and 266 FWL.

Five permits renewed:

  • Lime Rock (3): a State, a Kary, and an Emil permit; the first two in Cabernet, Dunn County; and the third, Murphy Creek, also Dunn County:
  • Hunt (2): two Patten permits, Parshall; Mountrail County;

Three permits canceled:

  • Whiting: two Gullikson permits and one P Bibler permit; the Bibler in Williams County; the Gullikson permits inn McKenzie County

Nine producing wells (DUCs) reported as completed:

  • 37645, 2,280, BR, Tailgunner 2A TFH, North Fork, no production data,
  • 37646, 422, BR, Tailgunner 2B MBH, North Fork, no production data,
  • 37649, 0 (no typo), BR, Tailgunner 2E TFH, North Fork, no production data,
  • 39443, 2,391, MRO, Bunk 34-33H, Bailey,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20237947994381316881807289862
  • 39444, 3,023, MRO, Luptak 34-33H, Bailey,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20231725821257103817017688157861841
  • 39445, 4,076, MRO, Margery 24-33H, Bailey, no production data,
  • 39469, 3,349, MRO, McConnell 11-4H, Killdeer,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232645670454749385234458307323607
  • 39628, 2,482, MRO, Amandus 31-17H, Killdeer,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023302594126011788231665816289261
BAKKEN10-20232935003350881297642085120409286
BAKKEN9-2023442143938257312054199236
  • 39630, 3,857, MRO, Mueller 41-17H, Killeer,
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023303667336727694862166221187336
BAKKEN10-2023254135841133818992302022537313

 Wells of interest:

  • 17883, 402, MRO, Theresa Tuhy 14-33H, Bailey, t5/09; cum 283K 4/23;, recently back on line; too soon to see any halo effect. 
  • 17316, 561, MRO, L. R. 21-16H, Killdeer, t10/08; cum 546K 7/23; still off line;

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