A Petro-Hunt Charlson Well Drilled In 2008 Just Went Over One Million Bbls Crude Oil -- May 31, 2024

Locator: 48017B.

The well:

• 16963, 423, Petro-Hunt, USA 35D-1-1H, Charlson, t12/08; cum 812K 12/20; off line as of 7/19; remains off line 1/20; back on line 3/20; see this post; recent production here; big jump in production 3/20; off li1e 1/21; huge production jump, 3/21; another great month of production; cum 890K 9/21; cum 926K 5/22; cum 948K 10/22; cum 996K 1/24; see this post; cum 1.003557 million bbls, 4/24; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2024	30	2306	2133	1231	209	0	0
BAKKEN	3-2024	31	2430	2298	1325	6185	5934	35
BAKKEN	2-2024	29	2363	2293	1294	5699	5458	39
BAKKEN	1-2024	31	2572	2649	1377	6047	5783	48
BAKKEN	12-2023	30	2255	2590	1219	5003	4663	138
BAKKEN	11-2023	30	2616	2828	1396	6127	5837	81
BAKKEN	10-2023	31	2902	2800	1557	7007	6660	134
BAKKEN	9-2023	30	3011	2869	1678	6910	6262	439
BAKKEN	8-2023	31	3196	3221	1775	7474	7247	11
BAKKEN	7-2023	31	3363	3180	1927	6998	6722	62
BAKKEN	6-2023	28	3106	2745	2068	5370	4671	509
BAKKEN	5-2023	16	1747	1856	943	4226	4077	38
BAKKEN	4-2023	30	3558	3968	1895	7919	7662	48
BAKKEN	3-2023	31	4000	4020	2237	8271	6407	1648
BAKKEN	2-2023	28	3749	3754	2043	7938	7391	352
BAKKEN	1-2023	31	3049	2978	2162	8307	7459	636
BAKKEN	12-2022	31	4429	4454	2355	8770	8422	132

Week 22: May 27, 2024 -- June 2, 2024

Locator: 48016TOPSTORIES.

Top story:

• Former president Trump convicted on 34 counts; decision made in a couple of hours; has the feel of a "kangaroo court.
• Maureen Dowd said it best
  
• Israel moves into Rafah; Israel says the war will go to the end of the year (2024)

Top international non-energy story:

• US President Biden sides with Hamas to call for unilateral cease-fire without preconditions (re: hostages)

Top international energy story:Top national non-energy story: 

• SpaceX - Boeing Starliner launch on Saturday scrubbed 3.5 minutes before launch; 
• HAL made the decision; no human input; 
• following launch NASA / Boeing spokepersons unable to explain why launch was scrubbed.
• initial indications: HAL simply decided to shut itself down; nothing appears to have been wrong with the launch sequence itself
  

Top national energy story:

• WTI continues to struggle; range-bound below $78

Focus on fracking: . 

Top North Dakota non-energy story: 

Top North Dakota energy story:

Geoff Simon's quick connects: link here.

*************************************
Market

Market at the close, end of the week, May 31, 2024:

Grapevine Lake -- DFW -- North Texas -- FULL! May 31, 2024

Locator: 48016GRAPEVINELAKE. 

US Army Corps of Engineers website for Grapevine Lake: link here.

 

My daughter received notice tonight that her paddle boarding club has been closed for the time-being due to very high water level in Grapevine Lake. 

This is the screenshot of the notice she was sent:

We'll drive out later tonight and/over the weekend to see if we can get some photos.

Bat Cave Today / This Evening -- Incredible Spring Weather -- The Bat Cave Is Awesome -- May 31, 2024

Locator: 48015BATCAVE. 

California Regulators, Community Solar, And Public Utilities -- Whoo-Hoo! May 31, 2024

Locator: 48014SOLAR. 

Before we get started: Jim Cramer mentioned Katie Ledecky on his show tonight. Katie Ledecky is an ambassador for Gap Stores.

Now back to this:

Cherry Picking -- Look At These Incredible WPX Two Shields Butte Wells -- May 31, 2024

Locator: 48013B. 

The "movers and shakers" offering $15K / mineral acre in the Bakken know that this phenomenon is going to be repeated and repeated and repeated in the Bakken over the next fifty years. Remember: I'm inappropriately exuberant about the Bakken, and I do not have a crystal ball, and no formal training in the oil sector, but I have read Leigh Price's paper and know the TOC in the Bakken compared to that in the other plays. At least I used to; I've since forgotten a lot of the numbers.

The Two Shields Butte wells are tracked here. This post won't be updated.

The wells:

• 18987, 223 (no typo), WPX/RimRock, Two Shields Butte 14-21-16-2HS, Heart Butte, t4/11; cum 721K 4/21; nice jump in production, 11/18; cm 751K 10/22; cum 780K 3/24;
  
• 18988, 1,835, WPX/Rimrock/Whiting/KOG, Two Shields Butte 14-21-33-15H, Heart Butte, Bakken, t12/10; cum 486K 4/18; taken off line 8/15 for one month; cum 589K 11/21; cum 604K 3/24;
  
• 32762, 1,103, WPX/RimRock, Two Shields Butte 13-21-33-13H3A, Heart Butte, t12/18; cum 316K 4/21; cum 374K 10/22; cum 390K 3/24;
• 32693, 3,033, WPX/RimRock, Two Shields Butte 13-21-16-3H3, Heart Butte, t12/18; cum 439K 4/21; cum 539K 10/22; cum 587K 3/24;
• 35528, conf-->loc/drl, WPX Energy, Two Shields Butte 13-21-17-1H3U, Heart Butte, t1/23; cum 311K 3/24;
• 38216, drl/A, WPX Energy, Two Shields Butte 13-21 11TFH, Heart Butte, t2/23; cum 308K 3/24; 
  

Let's look at part of the production profiles of one or two of these wells:

• 18987, 223 (no typo), WPX/RimRock, Two Shields Butte 14-21-16-2HS, Heart Butte, t4/11; cum 721K 4/21;nice jump in production, 11/18; cm 751K 10/22; cum 780K 3/24;

BAKKEN	1-2019	31	6524	6549	4688	3472	2130	85
BAKKEN	12-2018	31	7514	7564	3568	3817	2236	378
BAKKEN	11-2018	28	6773	6373	5756	3597	2159	478
BAKKEN	10-2018	0	0	367	0	0	0	0
BAKKEN	9-2018	11	1081	1349	354	1033	614	3
BAKKEN	8-2018	11	361	0	533	1098	0	679
BAKKEN	7-2018	29	2675	2565	1138	3202	1998	106
BAKKEN	6-2018	27	2606	2726	831	2940	1450	494
BAKKEN	5-2018	29	2828	2844	912	3513	2409	0
BAKKEN	4-2018	30	2971	2957	975	3419	2100	176
BAKKEN	3-2018	19	3050	3043	948	2532	1960	319
BAKKEN	2-2018	28	2717	2773	871	3165	1975	144

 

BAKKEN	3-2014	28	10304	10244	3534	6903	6337	483
BAKKEN	2-2014	28	10310	10355	3622	7038	6588	366
BAKKEN	1-2014	31	11942	11937	4203	7897	6735	1069
BAKKEN	12-2013	31	12437	12702	4262	7857	5996	1768
BAKKEN	11-2013	30	11978	11774	4001	7197	4081	3026
BAKKEN	10-2013	31	13253	13207	4557	8925	2681	6151
BAKKEN	9-2013	30	14453	14463	5293	11013	571	10352
BAKKEN	8-2013	31	16490	16410	5741	12938	1882	10963
BAKKEN	7-2013	31	18320	18416	5891	13227	3988	9146
BAKKEN	6-2013	28	18799	18789	6337	13916	5396	8440
BAKKEN	5-2013	31	24082	24140	8336	14066	9562	4411
BAKKEN	4-2013	30	29922	29870	11756	19524	6877	12557
BAKKEN	3-2013	30	39986	39636	33530	22340	0	22251
BAKKEN	2-2013	0	0	0	0	0	0	0
BAKKEN	1-2013	0	0	0	0	0	0	0
BAKKEN	12-2012	1	1	75	0	0	0	0
BAKKEN	11-2012	20	1478	1731	30	1118	0	1058
BAKKEN	10-2012	31	2354	2081	20	1760	0	1668
BAKKEN	9-2012	30	2050	2359	28	1596	0	1507
BAKKEN	8-2012	23	2184	1953	27	1482	0	1415
BAKKEN	7-2012	25	2176	2134	19	1601	0	1536
BAKKEN	6-2012	30	2516	2576	44	1939	0	1852
BAKKEN	5-2012	31	3038	2978	59	2257	0	2166

• 18988, 1,835, WPX/RimRock, Two Shields Butte 14-21-33-15H, Heart Butte, t12/10; cum 584K 4/21;nice jump in production; cum 596K 10/22; cum 604K 3/24; 

BAKKEN	5-2019	30	4885	5016	300	2624	1719	481
BAKKEN	4-2019	26	3721	3597	337	1946	1313	367
BAKKEN	3-2019	31	6756	6779	1631	2883	2132	405
BAKKEN	2-2019	28	6302	6256	3381	8503	4885	611
BAKKEN	1-2019	31	6565	6573	6507	7478	5907	1281
BAKKEN	12-2018	22	4458	4414	2660	6461	4584	1663
BAKKEN	11-2018	0	0	128	0	0	0	0
BAKKEN	10-2018	0	0	0	0	0	0	0
BAKKEN	9-2018	12	894	1079	982	513	69	0
BAKKEN	8-2018	12	1066	745	1467	933	0	489
BAKKEN	7-2018	15	1107	1214	1474	1163	544	71
BAKKEN	6-2018	30	2127	2181	2464	2315	986	192
BAKKEN	5-2018	29	2087	1992	2369	1660	555	0
BAKKEN	4-2018	29	2076	2092	2455	1656	432	115
BAKKEN	3-2018	28	2244	2210	2551	1365	885	78
BAKKEN	2-2018	28	2033	2052	2295	2372	1071	114
BAKKEN	1-2018	30	2170	2211	2355	2423	894	285
BAKKEN	12-2017	31	2282	2265	2593	3233	2159	843
BAKKEN	11-2017	30	2142	2117	1393	3179	2531	435
BAKKEN	10-2017	31	2613	2538	2033	3386	3028	125
BAKKEN	9-2017	30	2406	2437	2409	2717	1496	999

Disclaimer Briefly 

Reminder: I am inappropriately exuberant about the US economy and the US market, I am also inappropriately exuberant about all things Apple.

See disclaimer. This is not an investment site.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

Reminder: I am inappropriately exuberant about the US economy and the US market, I am also inappropriately exuberant about all things Apple.

An XTO Teddy Federal Well Produces 108K Bbls Crude Oil In One Month -- May 31, 2024

Locator: 48012B. 

The Teddy Federal wells are tracked here. 

So, what do you think of this one? The parent well remains off line. I don't see any explanation for this looking at the map. I don't have any idea what's going on but it's obvious there is some activity on the pad, but in the meantime, look at these production numbers.

• 35218, 3,156, XTO, Teddy Federal 12X-5D, Dunn County; 20 southeast of Watford City; sited in section 5-148-97; a six-well pad; middle Bakken; sections  34, 27, and 23-149-97; three-section-long horizontal; 1920-acre drilling unit; 20.5 total drilling days; t12/23; one month of produciton, and then came off line; t12/23; cum 127K 12/23;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2024	0	0	0	0	0	0	0
BAKKEN	2-2024	0	0	403	0	0	0	0
BAKKEN	1-2024	8	11319	12534	5756	19503	19254	209
BAKKEN	12-2023	31	108340	108634	53433	169341	168118	1040
BAKKEN	11-2023	3	7070	5704	5349	9314	8820	478
BAKKEN	10-2023	5	550	0	9507	859	0	859

• 35217, 1,977/SI/A, XTO, Teddy Federal 12X-5F, Dunn County; 50K extrapolates to 68K over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2024	7	10433	11993	5688	17410	16922	301
BAKKEN	2-2024	29	75627	74973	39387	124940	124435	202
BAKKEN	1-2024	22	50174	48373	30942	81218	80178	872
BAKKEN	12-2023	0	0	42	0	0	0	0
BAKKEN	11-2023	3	156	114	9235	1164	0	1164

•  35219, 714, XTO, Teddy Federal 12X-5HXE, Dunn County; t1/24; cum 139K 2/24; off line 3/24;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2024	11	13058	13759	7970	23893	23422	392
BAKKEN	2-2024	29	54054	54173	31286	89399	89102	145
BAKKEN	1-2024	31	59031	58730	39112	95305	94099	1042
BAKKEN	12-2023	11	11521	11426	7378	16650	16491	108
BAKKEN	11-2023	2	579	0	858	1807	1696	105
BAKKEN	10-2023	6	687	0	15802	1846	0	1846

•  35215, IA/SI-->SI/A, XTO, Teddy Federal 12X-5EXH, North Fork, 1/24; cum 114K 2/24; now offline;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2024	11	13750	14391	10588	25638	25135	422
BAKKEN	2-2024	29	57341	57436	49346	97095	96784	158
BAKKEN	1-2024	26	42276	40918	36071	68608	67754	719
BAKKEN	12-2023	0	0	0	0	0	0	0
BAKKEN	11-2023	0	0	0	0	0	0	0
BAKKEN	10-2023	7	260	0	21595	1190	0	1190

Holy Mackerel -- For The Archives -- The Market Today -- May 31, 2024

Locator: 48011INV.  

Updates

May 31, 2024: today was the best day of the year for the Dow. Holy Mackerel!

May 31, 2024: wow, what a day!

Original Post

Looks like sector rotation. If you sold (in May) yesterday and went away, you missed out on a huge market today -- assuming you sold and put everything in cash. What a crazy market. Dow closes up 600 points in afternoon trading.

BRK must have had an incredible day. Let's check: BRK -- yeah, up 1.42%.

The only thing that could explain things -- BIG OIL must have had a huge day. Wow. 

Curious?

What did WTI do? Holy mackerel -- I just tuned into CNBC at the close -- Dow closes up nearly 600 points. What a great day to be fully invested. 

Look at MRO: up 13%.

The laggards: none of which interest me.

DIS was not mentioned. What did DIS do? Up 2%. 

Chevron up 3%.

This is simply amazing. Friday afternoon. We talked about his earlier ... 

CAT down 3%.

Comcast up 4%. WBD up 8%.

Big Oil had a big day but not due to jump in oil price. WTI was actually down and trending toward $77.

I don't know what happened -- the talking heads certainly can't explain it. 

Month of May was incredibly good for tech (think Nvidia) and AAPL up 12% in the month of May.  Even today, AAPL went up another dollar.

Wow. Enough of this.

Mike Santoli: lots of talk but no aha! From one of the best analysts. 

Fast Money: later today, in about 45 minutes. It will be interesting to hear what the "Debbie downers" have to say. I assume a lot of prudent-signaling. I quit watching them some time ago -- they were simply too negative. At best, always prudent-signaling. My hunch: they will blow off the 600-blow-out as simply a one-off.

************************
ETSC

Is anyone / everyone paying attention? Note: this is just one "tiny" sector of the US economy -- data centers.

*****************************
Back to the Bakken

WTI: $77.23.

Active rigs: 36.

Eight new permits, #40796 - #40803, inclusive:

• Operators: Grayson Mill (2), Slawson, Silver Hill Energy Operating (3), WPX (2).
• Fields: Haystack Butte (Dunn); Bully (McKenzie); Gros Ventre (Burke); Heart Butte (Dunn)
• Comments:
• Silver Hill has permits for three wells: two Holmen E wells and one Oliver E well; NWNE 20-159-93, 
• to be sited 497 FNL and at 2037, 1967, and 2002 FEL;
• Grayson Mill has permits for two Bice wells, lot 4 and lot 3, section 18-148-97; 
• one to be sited 903 FSL and 572 FWL; and, 
• one to be sited 2140 FSL and 325 FWL;
• WPX has permits for a Two Shields Butte well and a High Hawk well, both in NWNW 10-149-92; 
• the TSB to be sited 281 FNL and 841 FWL; and, 
• the HH well to be sited 308 FNL and 827 FWL;
• Slawson has a permit for a Daredevil Federal well, lot 3, secton 2-148-100, 
• to be sited 300 FNL and 2250 FWL.

One permit canceled.

• 38228, WPX, Two Shields Butte, Heart Butte.
• the Two Shields Butte wells are tracked here.
  

Automobile Supply Chain Back To Relative Normal? May 31, 2024

Locator: 48010AUTOS. 

During the pandemic and for a couple of years thereafter the car sales lots were virtually empty in north Texas. I predicted there would be an oversupply of cars by the summer of 2023 (or maybe it was 2022 -- I forget but either way I was wrong). Through the end of 2023, the lots were fairly vacant but gradually filling in with new cars for sale. 

Today, out of curiosity I decided to check out the lots. There are several in our local area.

This was the first lot. This lot is a "long" way from the dealer's sales office -- every space was taken up by a brand new pickup truck, and it appears a truckload (or two) of muscle cars were dropped off within the last few days.

From here I went down to the Honda dealer -- the lot these past two years, pretty much empty. Today, absolutely full, and the prices were excellent.

Retirement And Investing -- Is Gen Z The Taylor Swift Generation? May 31, 2024

Locator: 48009TS. 

Updates

Tuesday, June 4, 2024: "She dominates our age!" How Taylor Swift became the greatest show on earth. Link to The [London] Guardian. 

Original Post

Gen Z: stepping up, making America great. Link here. Gen Z, when it comes to money, has a great, great role model.

Gen Z is off to a strong start in saving for retirement, and the youngest generation in the workforce has aggressive expectations for when they will call it quits on their careers.

Median retirement savings for Gen Z is $29,000, according to a new retirement survey by Goldman Sachs Asset Management. The research shows 68% of survey respondents believe their savings are on track or ahead of schedule.

And they may need every penny: 44% of Gen Z respondents expect to retire before 60, even as many of today’s older workers plan to stay on the job longer to shore up their savings. Working baby boomers reported a target retirement age of between 65 and 69, according to the survey.

Members of Gen Z, people born between 1997 and 2012, have perhaps benefited the most from retirement plan features such as auto-enrollment, so-called auto-escalation, and target-date funds as the default investment. Popularized after the Pension Protection Act of 2006, these features assume participation, requiring uninterested employees to opt out of contributing to a retirement account and having their contribution rate increased on a regular schedule.

Born between 1997 and 2012, these folks are currently between the ages of 12 and 27 years of age. 

Hot 100-singles in 2014:

"Shake It Off" ranked #135 by Rolling Stone, ranking all of Taylor Swift's songs to date.

 **********************************
The Book Page

The Princes in the Tower: Solving History's Greatest Cold Case, Philippa Langley, c. 2023.

The Wide, Wide Sea: Imperial Ambition, First Contact and hte Fateful Final Voyage of Captain James Cook, Hampton Sides, c. 2024.