There's A Lot More Happening In The Bakken Than You Might Think -- RBN Energy; WTI Back Above $79 -- May 28, 2024

Locator: 47966B.

Stagflation: with WTI back up above $79, certainly doesn't look like slow growth to me, any time soon.

In the news today:

• Apple iPhone sales surge in China
• China's drop in CO2 emissions; Bloomberg misreading the story
• EVS: liberals vs conservatives
• Chord to close on Enerplus this week; shareholders overwhelmingly approve
• hyperscalers: a deep dive
• but before we get to those stories, I'm going to have some waffles and spam. Whoo-hoo!

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Back to the Bakken

WTI: up almost 2%; up $1.40; trading at $79.12.

Tuesday, May 28, 2024: 39 for the month; 103 for the quarter, 302 for the year
40283, conf, Eagle Operating, Wade 5-11,

Monday, May 27, 2024: 38 for the month; 102 for the quarter, 301 for the year
39382, conf, BR, Devils Backbone 3B MBH,

Sunday, May 26, 2024: 37 for the month; 101 for the quarter, 300 for the year
39577, conf, Prima Exploration, Elzy Lay 1H,
39568, conf, Prima Exploration, Elzy Lay 2H,

Saturday, May 25, 2024: 35 for the month; 99 for the quarter, 298 for the year
39381, conf, BR, Devils Backbone 3C UTFH,

RBN Energy: there's a lot more happening in the Bakken than you might think. Archived.

On the surface, the Bakken story in the mid-2020s may seem as boring as dirt. The boom times of 2009-14 and 2017-19 are ancient history. Crude oil production has been rangebound near 1.2 MMb/d — well below its peak five years ago. And that output has been getting gassier over time, creating natural gas and NGL takeaway constraints that have put a lid on oil production growth. But don’t buy into the view that the Bakken is yesterday’s news. Beneath the surface (sometimes literally), the U.S.’s second-largest crude oil production area is undergoing a major transformation that includes E&P consolidation, production (and producers) going private, the drilling of 3- and (soon) 4-mile laterals, novel efforts to eliminate flaring, and even a producer-led push for CO₂-based enhanced oil recovery (EOR). As we’ll discuss in today’s RBN blog, these changes and others may well breathe new life into the Bakken and significantly improve the environmental profile of the hydrocarbons produced there. 

Busy, busy in the Bakken: we've only just begun. The WPX Mandaree pads in Spotted Horn. I could 16 active wells in this one location:

The earliest (?) well in this immediate area:

• 19603, 332, WPX, Mandaree 30-31H, Reunion Bay, t5/11; cum 615K 3/24; recent production; a stripper well trending toward 750K bbls crude oil, cumulative:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2024	31	780	797	2168	3014	2856	0
BAKKEN	2-2024	29	803	777	2278	2717	2521	48
BAKKEN	1-2024	23	330	335	1379	1502	1349	0
BAKKEN	12-2023	31	521	567	963	2634	2476	0
BAKKEN	11-2023	30	1061	1054	665	3606	3453	0
BAKKEN	10-2023	30	952	850	597	3606	3455	0
BAKKEN	9-2023	0	0	0	0	0	0	0
BAKKEN	8-2023	0	0	0	0	0	0	0
BAKKEN	7-2023	0	0	0	0	0	0	0
BAKKEN	6-2023	0	0	0	0	0	0	0
BAKKEN	5-2023	31	0	22	0	0	0	0
BAKKEN	4-2023	9	141	166	59	579	534	0
BAKKEN	3-2023	28	364	381	242	2445	2304	0
BAKKEN	2-2023	27	287	537	386	2878	2739	0
BAKKEN	1-2023	28	1369	1173	986	6417	6275	0
BAKKEN	12-2022	31	800	744	390	4741	4583	0
BAKKEN	11-2022	30	649	662	522	3524	3371	0
BAKKEN	10-2022	31	899	862	631	4407	4249	0
BAKKEN	9-2022	30	605	620	198	4212	4059	0
BAKKEN	8-2022	31	542	569	1052	3892	3739	0
BAKKEN	7-2022	31	1053	1022	2584	7186	7030	0
BAKKEN	6-2022	30	879	859	513	3413	3260	0
BAKKEN	5-2022	31	436	453	125	1829	1120	577
BAKKEN	4-2022	30	952	975	290	6783	6639	0
BAKKEN	3-2022	31	1068	1057	324	4936	4778	0
BAKKEN	2-2022	28	736	722	317	4838	4695	0
BAKKEN	1-2022	31	1006	1000	337	7417	7259	0
BAKKEN	12-2021	31	945	944	344	5350	5192	0
BAKKEN	11-2021	30	808	862	438	4125	3972	0
BAKKEN	10-2021	31	2078	2049	348	8604	4407	4039
BAKKEN	9-2021	30	928	956	206	4801	4648	0
BAKKEN	8-2021	31	995	1012	279	4668	4510	0
BAKKEN	7-2021	31	1133	1075	297	4348	3996	194