Monday, June 24, 2024

No New Permits; Seven Permits Renewed; One DUC Reported As Completed -- June 24, 2024

Locator: 48034B. 

Updates

Stanley Cup: wow, with 13 minutes left in the first period, Edmonton ties the game at 1 - 1 -- game 7 -- everything on the line. But Florida goes on to win, 2 - 1, winning the Stanley Cup.

Original Post

Tag: Ukraine munitions arms Texas

Has Texas got it all? Oil, tech, finance, hurricanes, and now ammo? Link here to The WSJ

Story of the day: business world begins u-turn on climate targets.

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

Active rigs: 38.

WTI: $81.63. Up 90 cents/bbl and the energy equity stocks surged.

No new permits.

Seven permits renewed:

  • MRO (4); BR (2), Petro-Hunt
    • MRO: Quincy, Lake Ilo, Dunn County; Middleton, Ebeltoft, and Beverly, Bailey, Dunn County:
    • BR: two Patton permtis, Bailey, Dunn County;
    • Petro-Hunt: a Sherven Trust permit - #38359, Charlson, McKenzie

One permit canceled:

  • 37679, XTO, HBU Marmon Federal; Williams County;

One producing well (a DUC) reported completed:

  • 37516, no production reported, BR, Mazama 4A UTFH, McKenzie County;

Off The Blog For Awhile -- June 24, 2024

Locator: 48033INV. 

Not on my bingo card this morning.

*********************
Best Performing Sector

Energy.

Others:

  • AMGN up 40% in one year; up $7 today, over 2%.
  • BRK-B: up over 1% today; up $5 today.

 ***************************
INTC: The Darling Of Wall Street



This is why I feel strongly that "chips" are not a commodity. 

Most other "chip" stocks are up today.

Micron is not a "chip" stock but is generally lumped in with Nvidia, AMD, and Quacomm. MU has doubled in the past year.

************************
CNBC "Half-Time Report"

Today's market takes one panel member -- Joe -- back to 1996. 

The panel member must have picked "1996" for a reason.

One may want to look aback at 1996. Link here.

So, the question becomes, what was going on in the US economy just prior to 1996 -- so let's look, 1990 - 1995, the five years leading to the explosive growth in 1996:

The "Half-Time Report" remains the best one hour each day for investors, and maybe traders. All we had decades ago was Louis Rukeyser, and this CNBC offering easily beats Rukeyser. The main difference  Rukeyser and Scott Wapner shows differed: the Rukeyser opened with a 15-minute monologue recapping the previous week; Wapner has a cold open -- immediately begins asking panelists about the general market and individual equities. 

Today, two of the panelists are so bullish they almost have horns (good); one remains so incredibly bearish / prudent / concerned, his bearish fur is practically covering his eyes (and his vision). The fourth panelist: quiet, seems to simply be going with the flow, not adding much to the discussion. 

Wow, wow, wow -- the most negative panelist showed his hand. He mentioned "M4" and has now revealed that he recently bought more AAPL expecting a new upgrade cycle. The panelist mentioned that he visited an Apple store over the weekend and there was a waiting line for the iPad. Apple sales staff said sales of iPads have taken off, something some have never seen before, others have to go back a long time to remember the excitement over iPads. 

Reminder: only the iPads -- of all Apple's hardware -- is getting the M4. And only the high-end (highest margin) iPads have the M4. 

M1 was revolutionary; M2 and M3 evolutionary and not very; M4 is again revolutionary and it appears M4 might have been pushed out a year ahead of schedule so as not to be lapped by MSFT /AI 

It would be interesting to know what Apple employee came up with "Apple Intelligence" for AI. LOL. 

By the way, a bit of digression: except for marketing purposes, Apple's laptops and desktops don't need the M4, and the iPhone uses A-series chips, not M-series chips. So it makes sense that only the iPad is getting the M4. I've explained why earlier. I've not seen that explanation anywhere else.

Joe mentions: FANG, "anchored/backed" by XOM; hoping DVN finally does something.

**************************
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.   

Wells Of Interest -- From Over Ten Years Ago -- June 24, 2024

Locator: 48032B. 

This is simply a random look at a few wells drilled back in 2012 (one from 2008).

Wells of interest:

  • 17022, 123, Murex, Blake Tyler 3-10H, Sanish, t5/08, cum 325K 4/24; finally back on line, recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-2024281221126922316151138113
BAKKEN3-20240000000
BAKKEN2-2024000033330
BAKKEN1-2024000040400
BAKKEN12-202300021011010
BAKKEN11-2023000082820
BAKKEN10-2023000098980
BAKKEN9-2023100026260
BAKKEN8-20230000000
BAKKEN7-2023000088880
BAKKEN6-2023000379790
BAKKEN5-20230000000
BAKKEN4-2023000066660
BAKKEN3-20230000000
BAKKEN2-2023116301373281980
  • 23150, 1,089, Oasis/Zenergy, Peters Road 30-29H, Todd, t9/12; cum 197K 8/19; cum 228K 10/22; cum 247K 4/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20243013661439318784382319
BAKKEN3-202414955194671650050044810190
BAKKEN2-20240000000
BAKKEN1-20240000000
BAKKEN12-20230000000
BAKKEN11-20232000200
BAKKEN10-20230000000
BAKKEN9-20230000000
BAKKEN8-2023157007289187366910
BAKKEN7-2023311098166718359989120
BAKKEN6-202330119973119565814920
  • 23115, 773, Zavanna, Tomahawk 10-3 1H, East Fork, t9/12; cum 301K 8/19; cum 312K 2/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20240000000
BAKKEN3-20240000000
BAKKEN2-2024172904238672187192433
BAKKEN1-20243181981520066585610914
BAKKEN12-20233172666012312355322828263
BAKKEN11-2023305196278772046719592440
BAKKEN10-20233185381413702298622241283
BAKKEN9-202321633621255716484148231356
  • 19976, IA/1,047, Petro-Hunt, Fort Berthold 148-94-29B-32-1H; Eagle Nest; t9/12; cum 220K 11/18; cum 277K 6/23; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20240000000
BAKKEN3-20240000000
BAKKEN2-20240000000
BAKKEN1-20240000000
BAKKEN12-20230000000
BAKKEN11-20230000000
BAKKEN10-20230000000
BAKKEN9-20230000000
BAKKEN8-20230000000
BAKKEN7-2023001270000
BAKKEN6-2023165526103227597516
BAKKEN5-20233110371061669124912451
  • 22342, 1,142, MRO, Lorene Stohler 11-3TFH, Bailey, t9/12; cum 6K 10/12; cum 234K 4/2; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20243031773111383257294620989
BAKKEN3-20242925082431261634032917411
BAKKEN2-20242421972184234224102239111
BAKKEN1-20243128202826372127672435268
BAKKEN12-2023312485226149531865173190
BAKKEN11-202332454023573773606
BAKKEN10-2023232135223926593592342883
BAKKEN9-20233030702966381440213785145
BAKKEN8-20233025792720349931993025103
BAKKEN7-20233129612878425935083326107
BAKKEN6-202330300029443970345533820
BAKKEN5-20233130193069386732583010184
BAKKEN4-20233032753233468932862776425
BAKKEN3-20233133323344594334333240121
  • 20602, 670, EOG, Clarks Creek 15-0805H, Antelope, 100K since 7/12; t7/12; cum 379K 7/15; cum 662K 10/22; see this note; cum 694K 4/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH4-202430150013243126431358822
SANISH3-202431156815893386284333623
SANISH2-202429154015232625860310322
SANISH1-202429158318652193882133814
SANISH12-202331169216292556042307915
SANISH11-202330170216352286002312917
SANISH10-202331165115191815641274718
SANISH9-202330163315942056090351218
SANISH8-202325146514502534993283716
SANISH7-202331163716442726265347818
SANISH6-202330178617773946187338620
  • 22095, 351, Murex, Michael Wade 1-12H, Sanish, t9/12; cum 149K 10/14; cum 438K 4/24; recent production:  
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-202427235722668251812141249
BAKKEN3-2024302959279712272191176338
BAKKEN2-20242932043528109423401727236
BAKKEN1-2024121073144525269048661
BAKKEN12-2023262564266598217961307151
BAKKEN11-20233028992626121420771490197
BAKKEN10-2023232580238610221533122918
BAKKEN9-20233038423489179721121518204
BAKKEN8-202330384139181864178613960
BAKKEN7-20232940044175195023061514415
BAKKEN6-20232936713176251221141491246
BAKKEN5-20230000000
BAKKEN4-20230000000
BAKKEN3-2023104124742457846540
BAKKEN2-2023246727373177614490
  • 22044, 700, Zavanna, George 19-30 1H, Stockyard Creek, t10/12; cum 403K 8/19; cum 621K 4/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-202430181718424956544249950
BAKKEN3-202431211821285495595454920
BAKKEN2-202429206920715183162211900
BAKKEN1-202426147314284069397036560
BAKKEN12-2023311807185952212112996840
BAKKEN11-2023301987203258662305810078846
BAKKEN10-202331234622656965237665920598
BAKKEN9-20233030113002674320732420714
BAKKEN8-2023313726373879522621779939
BAKKEN7-2023312851295588602577192211
BAKKEN6-2023303206311093522599595895
BAKKEN5-20232630552994932420392775412
BAKKEN4-2023112424577707217650
BAKKEN3-202331454513931978951021
BAKKEN2-202328243243199115768399910
BAKKEN1-2023191919116211013240352
BAKKEN12-20220000000
BAKKEN11-20220000000
BAKKEN10-20221713501641149113559426674
BAKKEN9-20223028042858344227857945847
  • 22199, 1,088, EOG, Riverview 100-3031H, Clarks Creek, t6/12; cum 350K 10/14; cum 507K 2/24; recent production; these wells are tracked here;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-2024100118180
BAKKEN3-20241421069364213
BAKKEN2-20242214281125313578684
BAKKEN1-2024296212645911805041
  • 21830, 1,824, Lime Rock Resources/OXY USA, Beatrice Kubischta 2-15-22H-143-96, Fayette, t6/12; cum 310K 1/19; cum 346K 4/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20242129929376317100
BAKKEN3-20240000000
BAKKEN2-2024400014140
BAKKEN1-20243110173730
BAKKEN12-20230000000
BAKKEN11-20230000220
BAKKEN10-20230000880
BAKKEN9-20230000330
BAKKEN8-20230000110
BAKKEN7-20230010000
BAKKEN6-20233014042420
BAKKEN5-20232954557940345449160
BAKKEN4-2023306376414184251510

  • 22446, IA/1,319, MRO, Aisenbrey 21-25TFH, Reunion Bay/Big Bend, looks like a great well; 42K in first three months; t8/12; cum 44K 10/12; cum 406K 1/24; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20240000000
BAKKEN3-20240000000
BAKKEN2-2024002000000
BAKKEN1-202427986100536116491328256
BAKKEN12-2023311290128847318381427335