The Million Dollar Way (The Bakken Oil Blog): 01/29/24

Monday, January 29, 2024

SCCO Cuts Dividend -- January 29, 2024

Locator: 46685DIV.

From $1.00 to 80 cents. Payable 2/29/24.

Grayson Mill Cuda Wells -- Round Prairie West Of Williston -- January 29, 2024

Locator: 46684B.

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Updated March 21, 2024

Williams County deed:

NDIC - Grayson Mill permit:

Scout ticket:

Production:

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As Of January 29, 2024

A reader asked about these DUCs which were reported to have been completed January 9, 2024:

39754, 1,925, Grayson Mill, Cuda 14-26F 1H, Round Prairie, super long horizontal;
39755, 1,959, Grayson Mill, Cuda 14-26F 2H, Round Prairie, super long horizontal;
39756, 2,177, Grayson Mill, Cuda 14-26F XE, Round Prairie, super long horizontal;

Initial production:

39754, 1,925, Grayson Mill, Cuda 14-26F 1H, Round Prairie, super long horizontal; t11/23; cum --;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	4	812	604	14847	6	0	6

39755, 1,959, Grayson Mill, Cuda 14-26F 2H, Round Prairie, super long horizontal; t11/23; cum --;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	4	812	604	11553	6	0	6

39756, 2,177, Grayson Mill, Cuda 14-26F XE 1H, Round Prairie, super long horizontal, t11/23; cum --;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	20	9875	9448	42058	7528	31	7497

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Wells Of Interest

All three recently taken off line; still offline, January 29, 2029.

20128, IA/563, Grayson Mill, Short Prairie 3-1415H, t8/11; cum 149K 8/23;
20152, IA/805, Grayson Mill, Short Prairie 4-2322H, t1/12; cum 143K 8/23;
20150, IA/575, Grayson Mill, Short Prairie 5-2627TFH, t9/11; cum 161K 8/23;

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The Maps

Update On Recently Completed Grayson Mill Fleck Wells In Sandrocks -- January 29, 204

Locator: 46683B.

From January 16, 2024, these DUCs reported as completed:

Three producing wells (DUCs) reported as completed:

39649, 4,059, Grayson Mill, Fleck 150-100-1-12-8H, Sandrocks, t10/23; cum 100K 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	30	61380	61567	83672	106857	102427	4430
BAKKEN	10-2023	14	38983	38300	65587	56971	53050	3921

39650, 2,872, Grayson Mill, Fleck 150-99-6-7-5H, Sandrocks, t10/23; cum 57K 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	30	42338	42262	64376	71867	68887	2980
BAKKEN	10-2023	9	14349	14083	25748	25557	23798	1759

39651, 2,064, Grayson Mill, Eide 150-99-6-7-5H, Tobacco Garden, t10/23; cum 42K 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	30	39026	38761	73520	72418	69416	3002
BAKKEN	10-2023	2	2806	2755	5810	4823	4491	332

Wells of interest:

26252, 734, Grayson Mill, Eide 150-99-7-6-2H, Tobacco Garden, t1/14; cum 283K 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	30	23702	23715	66853	37841	33722	4007
BAKKEN	10-2023	16	14612	14535	76596	23073	20762	2311
BAKKEN	9-2023	0	0	0	0	0	0	0
BAKKEN	8-2023	1	0	0	45	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	11	339	447	72	789	637	54
BAKKEN	4-2023	30	1016	1042	532	2232	1940	22
BAKKEN	3-2023	30	955	866	478	2646	1406	986

27731, Grayson Mill, Fleck, Sandrocks, just returning on line; too early to say anything about new production;
27732, Grayson Mill, Fleck, Sandrocks, just returning on line; too early to say anything about new production;
27733, Grayson Mill, Fleck, Sandrocks, just returning on line; too early to say anything about new production;

See an update on the Grayson Mill Fleck wells here.

Four New Permits; Five Permits Canceled; Ten DUCs Reported As Completed; Again, No Surprise, The MRO Wells Are Spectacular -- January 29, 2024

Locator: 46682B.

WTI: $76.97.

Four new permits, #40482 - $#40485, inclusive:

Operator: Liberty Resources
Field: White Earth (Mountrail)
Comments:

Liberty Resources has permits for four Tucson wells, SWSW 23-158-94;

to be sited 335 FSL and between 681 FFWL and 786 FWL.

Five permits renewed:

Hess (3): three SC-Ellingsberg permits, Truax oil field, Williams County;
Murex (2): ah HL-Harlen Lahti permit and an HL-Evelyn Lahti permit, Sanish, Mountrail County.

Ten producing wells (DUCs) reported as completed:

37648, 279, BR, Tailgunner 2D, MBH, McKenzie
39125, 712, Iron Oil, Stocke 3-4-9H, McKenzie;
39126, 821, Iron Oil, Stocke 2-4-9H, McKenzie;
39446, 4,183, MRO, Claudia 24-33H, Killdeer, Dunn County;
39470, 2,074, MRO, Sagler 21-4TFH, Killdeer, Dunn County;
39699, 1,616, MRO, Demay 21-4H, Killdeer, Dunn County;
39700, 3,769, MRO, Arlene 11-4TFH, Killdeer, Dunn County;
39701, 5,266, MRO, Elaine 41-5H, Killdeer, Dunn County;
39702, 4,436, MRO, Barsness 41-5TFH, Killdeer, Dunn County;
39852, 1,580, SOGC (Sinclair), Hovden Federal 5-20H, Dunn County,

Wells of interest:

17883, 402, MRO, Theresa Tuhy 14-33H, Bailey, t5/09; cum 283K 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	8	260	259	4581	10	10	0
BAKKEN	10-2023	0	0	0	0	0	0	0
BAKKEN	9-2023	0	0	0	0	0	0	0
BAKKEN	8-2023	1	11	111	0	10	0	10
BAKKEN	7-2023	0	0	0	0	0	0	0
BAKKEN	6-2023	0	0	0	0	0	0	0
BAKKEN	5-2023	0	0	257	0	0	0	0
BAKKEN	4-2023	27	1184	1146	443	1396	0	1228
BAKKEN	3-2023	31	1508	1555	441	1752	0	1555
BAKKEN	2-2023	28	1384	1304	433	1603	0	1429
BAKKEN	1-2023	27	1549	1536	436	1763	0	1597

35690, 140, BR, Tailgunner 1E MBH, North Fork, t2/20; cum 471k 11/23;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	2	322	299	296	665	519	15
BAKKEN	10-2023	0	0	125	0	0	0	0
BAKKEN	9-2023	10	1370	1401	1085	5819	5195	78
BAKKEN	8-2023	31	4395	4239	3578	16324	14666	640
BAKKEN	7-2023	31	3835	4073	3362	15195	13829	420
BAKKEN	6-2023	27	3955	3922	3124	15123	13774	440
BAKKEN	5-2023	31	3923	3922	3363	14177	13202	177
BAKKEN	4-2023	30	4371	4339	2970	11776	10561	349
BAKKEN	3-2023	31	4602	4619	3694	17896	16731	204
BAKKEN	2-2023	28	4724	4718	3323	13896	12830	230
BAKKEN	1-2023	26	3821	3859	2596	8996	8088	303
BAKKEN	12-2022	13	1926	1906	1232	6022	5607	116
BAKKEN	11-2022	30	4509	4490	3049	14759	13405	366
BAKKEN	10-2022	31	4887	4878	3723	18487	17014	356
BAKKEN	9-2022	30	5116	5104	3924	18855	17409	375
BAKKEN	8-2022	28	4717	4709	3626	17919	16525	347
BAKKEN	7-2022	30	5614	5666	4142	20066	18487	409
BAKKEN	6-2022	30	5927	5983	4477	20025	17907	628
BAKKEN	5-2022	31	6069	6087	4396	19601	17319	610

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Initial Production Of The DUCs Reported As Completed Today

The wells:

37648, 279, BR, Tailgunner 2D, MBH, McKenzie, no data;

39125, 712, Iron Oil, Stocke 3-4-9H, McKenzie;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	0	0	0	0	0	0	0

39126, 821, Iron Oil, Stocke 2-4-9H, McKenzie;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	0	0	0	0	0	0	0

39446, 4,183, MRO, Claudia 24-33H, Killdeer, Dunn County;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	24	45438	45243	53159	31677	28267	3301

39470, 2,074, MRO, Sagler 21-4TFH, Killdeer, Dunn County;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	5	6166	6139	15659	3837	3427	397

39699, 1,616, MRO, Demaay 21-4H, Killdeer, Dunn County:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	2	0	0	11	0	0	0

39700, 3,769, MRO, Arlene 11-4TFH, Killdeer, Dunn County;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	29	38339	38308	57689	27148	24223	2831
BAKKEN	10-2023	4	10081	9947	16952	6283	6190	53

39701, 5,266, MRO, Elaine 41-5H, Killdeer, Dunn County; 36,485 bbls over 10 days extrapolates to 108,455 bbls over 30 days;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	28	41168	41477	50452	27224	24302	2828
BAKKEN	10-2023	10	36485	35999	49473	24907	24536	211

39702, 4,436, MRO, Barsness 41-5TFH, Killdeer, Dunn County; 31,949 bbls over 14 days extrapolatess to68,462 bbls over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	29	30961	31253	49968	23419	20886	2452
BAKKEN	10-2023	14	31949	31524	57254	20653	20347	174

39852, 1,580, SOGC (Sinclair), Hovden Federal 5-20H, Little Knife, Dunn County;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2023	9	12831	12069	25367	17060	0	17026

Rent Deflation -- January 29, 2024

Locator: 46681RENT.

Rent, link here:

Everybody talks about soft landing vs hard landing. My thoughts? A "touch-and-go." Link here.

More deflation. Link here.

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Mardi Gras Treat

Natural Gas -- January 29, 2024

Locator: 46680NATGAS.

Three headlines over at oilprice this a.m. that caught my attention:

spending on natural gas to top $1 trillion over next decade;
Alaska's state-sponsored LG projects struggling to find investors;
massive new Russian natural gas pipeline to China faces delays

And then this, also today:

Amazon Vs BRK -- January 29, 2024

Locator: 46679AMZN.

Market, Amazon. Link here.

Eight Wells Coming Off Confidential List -- January 29, 2024

Locator: 46678B.

Three headlines over at oilprice this a.m. that caught my attention:

spending on natural gas to top $1 trillion over next decade;
Alaska's state-sponsored LG projects struggling to find investors;
massive new Russian natural gas pipeline to China faces delays

Market comment: link here.

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Back to the Bakken

WTI: $77.70.

Monday, January 29, 2024: 53 for the month; 53 for the quarter, 53 for the year
39726, conf, WPX, Bull Moose 28-27HD,
39153, conf, Hess, RS-F Armouur-156-92-1224-3,

Sunday, January 28, 2024: 51 for the month; 51 for the quarter, 51 for the year
39725, conf, WPX, Bull Moose 28-27HT,
39152, conf, Hess, RS-F Armour-156-92-1224H-2,
39050, conf, Oasis, Bergem 5199 43-33 3T,
39049, conf, Oasis, Bergem 5199 43-33 2B,

Saturday, January 27, 2024: 47 for the month; 47 for the quarter, 47 for the year
40041, conf, CLR, Quale Federal 4-1H,
35367, conf, Enerplus, Possum 152-94-23CH-TF2,

RBN Eneergy: new LN export capacity upends Texas / Louisiana natural gas fundamentaals.

Big changes are coming to the new epicenter of the global LNG market: Texas and Louisiana. On top of the existing 12.5 Bcf/d of LNG export capacity in the two states, another 11+ Bcf/d of additional capacity is planned by 2028. The good news is that the two major supply basins that will feed this LNG demand — the Permian and the Haynesville — will be growing, but unfortunately not quite as fast as LNG exports beyond 2024. And there’s another complication, namely that the two basins are hundreds of miles from the coastal LNG terminals, meaning that we’ll need to see lots of incremental pipeline capacity developed to move gas to the water.

If we break it down further, looking at Texas and Louisiana separately, we see quite different fundamental dynamics. On the Louisiana side, LNG exports are set to rise faster than production in the state, while in Texas, the pace of production growth generally matches the combo of LNG and Mexico exports for a few years, but eventually lags behind as new LNG terminals come online, requiring the state to pull more gas in from Oklahoma or send less to Louisiana. These developments will drive highly dynamic market conditions, with flow shifts that will impact price differentials, the need for new pipeline infrastructure, and the gas sourcing strategies for LNG exporters.

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