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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.

***************************
Updated March 21, 2024

 Williams County deed:


NDIC - Grayson Mill permit:


Scout ticket
:


Production
:

*********************************
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 --;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023481260414847606
  • 39755, 1,959, Grayson Mill, Cuda 14-26F 2H, Round Prairie, super long horizontal; t11/23; cum --;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023481260411553606
  • 39756, 2,177, Grayson Mill, Cuda 14-26F XE 1H, Round Prairie, super long horizontal, t11/23; cum --;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232098759448420587528317497

*********************
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;

************************
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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023306138061567836721068571024274430
BAKKEN10-20231438983383006558756971530503921
  • 39650, 2,872, Grayson Mill, Fleck 150-99-6-7-5H, Sandrocks, t10/23; cum 57K 11/23;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20233042338422626437671867688872980
BAKKEN10-2023914349140832574825557237981759
  • 39651, 2,064, Grayson Mill, Eide 150-99-6-7-5H, Tobacco Garden, t10/23; cum 42K 11/23;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20233039026387617352072418694163002
BAKKEN10-2023228062755581048234491332

 Wells of interest:

  • 26252, 734, Grayson Mill, Eide 150-99-7-6-2H, Tobacco Garden, t1/14; cum 283K 11/23;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20233023702237156685337841337224007
BAKKEN10-20231614612145357659623073207622311
BAKKEN9-20230000000
BAKKEN8-202310045000
BAKKEN7-20230000000
BAKKEN6-20230000000
BAKKEN5-2023113394477278963754
BAKKEN4-202330101610425322232194022
BAKKEN3-20233095586647826461406986
  • 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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20238260259458110100
BAKKEN10-20230000000
BAKKEN9-20230000000
BAKKEN8-2023111111010010
BAKKEN7-20230000000
BAKKEN6-20230000000
BAKKEN5-2023002570000
BAKKEN4-20232711841146443139601228
BAKKEN3-20233115081555441175201555
BAKKEN2-20232813841304433160301429
BAKKEN1-20232715491536436176301597
  • 35690, 140, BR, Tailgunner 1E MBH, North Fork, t2/20; cum 471k 11/23;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023232229929666551915
BAKKEN10-2023001250000
BAKKEN9-2023101370140110855819519578
BAKKEN8-2023314395423935781632414666640
BAKKEN7-2023313835407333621519513829420
BAKKEN6-2023273955392231241512313774440
BAKKEN5-2023313923392233631417713202177
BAKKEN4-2023304371433929701177610561349
BAKKEN3-2023314602461936941789616731204
BAKKEN2-2023284724471833231389612830230
BAKKEN1-20232638213859259689968088303
BAKKEN12-20221319261906123260225607116
BAKKEN11-2022304509449030491475913405366
BAKKEN10-2022314887487837231848717014356
BAKKEN9-2022305116510439241885517409375
BAKKEN8-2022284717470936261791916525347
BAKKEN7-2022305614566641422006618487409
BAKKEN6-2022305927598344772002517907628
BAKKEN5-2022316069608743961960117319610

******************************
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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20230000000
  • 39126, 821, Iron Oil, Stocke 2-4-9H, McKenzie;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20230000000
  • 39446, 4,183, MRO, Claudia 24-33H, Killdeer, Dunn County;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232445438452435315931677282673301
  • 39470, 2,074, MRO, Sagler 21-4TFH, Killdeer, Dunn County;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20235616661391565938373427397
  • 39699, 1,616, MRO, Demaay 21-4H, Killdeer, Dunn County:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-202320011000
  • 39700, 3,769, MRO, Arlene 11-4TFH, Killdeer, Dunn County;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232938339383085768927148242232831
BAKKEN10-20234100819947169526283619053
  • 39701, 5,266, MRO, Elaine 41-5H, Killdeer, Dunn County; 36,485 bbls over 10 days extrapolates to 108,455 bbls over 30 days;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232841168414775045227224243022828
BAKKEN10-2023103648535999494732490724536211
  • 39702, 4,436, MRO, Barsness 41-5TFH, Killdeer, Dunn County; 31,949 bbls over 14 days extrapolatess to68,462 bbls over 30 days:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20232930961312534996823419208862452
BAKKEN10-2023143194931524572542065320347174
  • 39852, 1,580, SOGC (Sinclair), Hovden Federal 5-20H, Little Knife, Dunn County;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2023912831120692536717060017026

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.

**********************
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.

********************************
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.