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Sunday, July 7, 2024

Petro-Shale Primus Wells In Antelope Oil Field

Locator: 48073B.

The wells:

  • 33006, PNC/PNC, Petroshale, Petroshale US 2H, Antelope,
  • 33005, offline/1,560, Petroshale, Petroshale US 3H, Antelope-Sanish, t3/18; cum 589K 4/24;
  • 33004, offline/GL/A, Petroshale, Petroshale US 4H, Antelope-Sanish, t3/18; cum 458K 4/24;
  • 33003, loc/PNC, Petroshale, Petroshale US 5H, Antelope,
  • 33002, loc/PNC, Petroshale, Petroshale US 6H, Antelope,
  • 39964, conf, Petroshale, Primus 1TFH, Antelope, npd,
  • 39966, conf, Petroshale, Primus 1MBH, Antelope, npd,
  • 39967, conf, Petroshale, Primus 2TFH2H, Antelope, npd,
  • 39968, conf, Petroshale, Primus 2TFH, Antelope, npd,
  • 40589, conf, Petroshale, Primus 2TFHX, Antelope, npd, 

Other wells of interest:

  • 32767, offline/2,759, Petroshale, Petroshale US 8H, Antelope-Sanish, t1/17; cum 706K 12/23;
  • 38034, loc/A, Petroshale, Tahu 3TFH, Antelope-Sanish, t2/24; cum 55K 5/24;

The maps:

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The CLR Benner And CLR Chase Wells In Jim Creek

Locator: 48072B.

Could very likely be 3-section / 1920-acre standup spacing.

The CLR Chase and CLR Benner wells:
 

40222, conf/drl, CLR, Marshall 4-13H, Little Knife,

40250, conf, CLR, Benner 3-7H, Jim Creek,

40251, conf, CLR, Benner 4-7H, Jim Creek,

40252, conf, CLR, Benner 4-7H, Jim Creek,

40253, conf, CLR, Benner 5-7H, Jim Creek,

40254, PNC, CLR, Chase 2-18ND, Jim Creek,

40256, conf, CLR, Chase 3-18H, Jim Creek,

40257, conf, CLR, Chase 4-18H, Jim Creek,

40405, conf, CLR, Chase 5-18H, Jim Creek, 

Other wells of interest:

  • 20230, 293, CLR, Chase 1-19H, Jim Creek, t7/11; cum 202K 5/24;
  • 20607, 814, CLR, Grande 1-18H, Jim Creek, t10/11; cum 234K 5/24; off line;
  • 21032, 905, CLR, Benner 1-6H, Jim Creek, t1/12; cum 286K 5/24;
  • 39868, drl/conf, CLR, Micahlucas 3-5HSL, Jim Creek,

The maps:


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401(k) Update -- July 7, 2024

Locator: 48071INV.

"They" say current retirees need around $1.6 million in the bank to retire.

Link here.


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Schwab Vs The GOAT


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The Movie Page 

The movie today. I know exactly with whom I would share this movie.

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MVP Update -- July 7, 2024

Locator: 48070NG.

Tag: pipeline.

SPGlobal, July 3, 2024: Appalachian Basin gas production hits four-month high as MVP flows rise.

Drilling down deeper, it appears that much of the recent gas production increase is coming from the Marcellus shale of West Virginia, located in the https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/070324-appalachian-basin-gas-production-hits-four-month-high-as-mvp-flows-rise. In July, Marcellus production from West Virginia has averaged nearly 9 Bcf/d, up from about 8.5 Bcf/d during the final week of June.

Recent production gains in Appalachia also come after EQT CEO Toby Rice in mid-June acknowledged publicly that the company had started bringing earlier-deferred production back online – a process that he said would be incremental.

Earlier this year, EQT announced one of the single largest gas production cuts by a US operator, saying it would reduce gross output by 1 Bcf/d in response to low prices. At the time, executives said the curtailment, which started in late February, would lower annual production by at least 30-40 Bcf.

EQT's announcement came just two weeks after Chesapeake Energy announced its own cut of a similar magnitude with a commitment to reduce 2024 output by 15% and lower capital spending by 20%.

Earlier commitments to cut gas production by EQT, Chesapeake and others came largely in response to low gas prices, which were hovering in the mid-$1 area at the time. In early May, though, gas prices rallied back above $2 and kept rising, ultimately topping $3 amid bullish momentum fueled by tighter market fundamentals. Now, with prompt futures prices still hovering in the mid-$2s, it seems likely that production in Appalachia, and elsewhere, could continue rising.

Mountain Valley Pipeline, wiki.

Permits first applied for: October, 2015. Would planning have started ten years earlier? 

Biden got 'er done.

Wiki page needs to be updated: says the "project developer expects the pipeline to be in-service by mid-year 2024."


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FERC To Weigh In OnThe Nuclear Option For Data Centers -- July 7, 2024

Locator: 48069AWS.

Tag: data centers energy demand Amazon

Background:

Now, from Reuters: utilities that did not get to participate in this deal are "suing" to stop it -- link here: 

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Going Into The Market Tomorrow, Monday, July 8, 2024

Locator: 48068INV.

Link here.

 
Interesting to track --

Disclosures.

Stock returns, link here: 


NVDA

238.9%

META

194.1%

AMD

127.6%

TSLA

101.7%

AVGO

99.6%

CRM

98.5%

INTC

90.1%

AMZN

80.9%

PDD

79.4%

ADBE

77.2%

NFLX

65.1%

LLY

59.3%

GOOG

58.3%

MSFT

56.8%

NVO

52.9%

SAP

49.8%

AAPL

48.2%

COST

47.9%

TSM

39.6%

AMSL

38.5%

TM

34.3%

ACN

31.5%

ORCL

29.0%

JPM

26.9%

LIN

25.9%

V

25.3%

MA

22.7%

WFC

19.2%

NVS

17.6%

BRK.B

15.5%

SHEL

15.5%

TMUS

14.5%

MCD

12.5%

WMT

11.2%

HD

9.7%

CSCO

6.1%

BAC

1.7%

ABT

0.3%

AZN

-0.7%

MRK

-1.7%

PG

-3.3%

TMO

-3.6%

ABBV

-4.1%

PEP

-6%

KO

-7.4%

UNH

-7.6%

XOM

-9.4%

JNJ

-11.3%

BABA

-12%

CVX

-16.9%


 

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For Bakken Royalty Owners -- July 7, 2024

Locator: 48067B.

This may or may not be accurate and it may or may not be news but a reader e-mailed me the following;

Received today "a" production statement and check from Chord Energy.

Large envelope with "OASIS Petroleum North America LLC" in return address window.

The check is from CHORD ENERGY.

The wells are all "old" WHITING wells.

So, now, even more confusing. It looks like Chord Energy combined Whiting and Oasis into one wholly-owned company or division, combining the "old" Whiting wells with the "old" Oasis wells and putting them altogether under the "Oasis" name, at least for now.
But two statements are still being processed by Chord: one for "old" Whiting wells and one for "old" Oasis wells.

I have no idea how this will affect 1099s at the end of the year.

Speaking of which:

  • there were 33 Whiting permits awarded by North Dakota in calendar year 2023
    • the last such Whiting permit was noted in the daily activity report dated November 17, 2023
  • there have been no new Whiting permits in North Dakota in calendar year 2024;
  • there have been no Chord Energy permits awarded by North Dakota as of this date;
  • new Oasis permits continue to be filed in North Dakota in calendar year 2024;
  • it appears Whiting changed format of the legal names of its wells in early January, 2023
    • with some exceptions in early January, 2023, the naming of the Whiting wells in 2023 followed the nomenclature format used for Oasis wells (family name -- section/section -- chronologic -- formation); 
    • no evidence yet that Oasis identifies section line wells in the legal name;
  • next to watch: new Enerplus permits -- if we see them, and if we do, if the Enerplus legal names reveal a new format

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Photo Of The Day

Our older daughter paddleboards Grapevine Lake almost daily. Grapevine Lake is about twenty feet above flood levels and probably won't be back within its normal limits until next summer, and even that's questionable. 

Grapevine Lake is on the north side of Grapevine, TX, just north of the DFW airport.

Grapevine Lake level, link here:

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The Tech Industry's Double Moat -- July 7, 2024

Locator: 48066TECH.

Double-moat: in a July 7, 2024, post on the magnificent seven, I noted the "double-moat." Someone is reading the blog. Story today about the "human resources" moat, link here.


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The Book Page 

One wonders if Joe Biden is doing any more reading -- other than government / bureaucratic documents placed in front of him, most for signature, I suppose.

I first came across the term "Onondaga" when we were buying Stickley furniture for our new apartment in north Texas. We fell in love with Stacy Furniture, Grapevine, TX, and fell in love with Stickley's Onandaga line of furniture. Wow.  

Kathleen DuVal mentions the Onondaga in the first paragraph of chapter four in her excellent book:

Native Nations: A Millennium In North America, Kathleen DuVal, c. 2024. 

The chapter begins:

The Hiawatha belt has a background of deep purple wampum (shell beads) interwoven with symbols made of white wampum representing the five Haudenosaunee nations, also known as the Iroquois Confederacy or the Iroquois League.
The Mohawk nation is awhite square on the right, signifying the easternmost Haudenosunee nation.
The others, moving from right to left, are the Oenida, Onondaga (in the middle, represented by a white Tree of Peace), Cayuga, and Seneca nations, connected in a row on the belt.
Since the eighteenth century, the Haudenosaunee have nluded a sixth nation, the Tuscaroras.

Wampum: beads, from shells.

It's interesting that "purple" is the most valuable, just as it for royalty in the UK, and for the Phoenicians long before that. 

I like to think of the "Haudenosaunee" as the "Haudeno-Shawnee" -- right, wrong, or indifferent.

To see the details of the graphic below, one will have to zoom in quite a bit. 

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The Art Page
Ft Worth's Kimbell Museum

One wonders if Joe Biden is visiting any museums any more but I suppose if asked, he would say that he sees a portrait of himself in his own museum every day he looks in the mirror.

From The Wall Street Journal today:


From the article:

So, too, the weavings (c. 1528-31) in “Art and War in the Renaissance: The Battle of Pavia Tapestries,” on loan as a complete set to the U.S. for the first time from the Capodimonte Museum in Naples, capture a swerve in style.
Designed by Bernard van Orley (1487-1541), the premier tapestry artist in Brussels when it was the leader in tapestry production, these glittering panels represent a transition from medieval to Renaissance artistry.
Made from wool and silk yarns and highlighted with threads of gold and silver, they abandon the flat, decorative, patterned narratives of the past, and instead feature modeled, nearly life-size figures, set amid many additional narrative elements in a spatially accurate background. In this, Van Orley drew inspiration from Italian tapestries epitomized by Raphael’s groundbreaking “Acts of the Apostles” created more than a decade earlier, and added a density of details highly prized by Northern Renaissance artists.

Decades ago we were fortunate enough to acquire a tapestry from Brugges, outside Brussels.


The original:


It seems to be fairly rare to see both "panels" together, and I could be wrong, but there may also be a third panel.

We had seen this tapestry in the Cluny and when we spotted this reproduction in Brugges, we were astounded. Perhaps the best art we have ever possessed, though the all-silk prayer rugs from the Mideast may be worth a whole lot more.

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Production Data For Wells Coming Off Confidential List This Next Week -- July 7, 2024

Locator: 48065WELLS.

The wells:

  • 40405, conf, CLR, Chase 5-18H, Jim Creek, npd
  • 40430, conf, Neptune Operating, Gustafson 5-8 5H, Buffalo Wallow,
DateOil RunsMCF Sold
5-2024264120
  • 39637, conf, Hess, TI-State-158-95-3635H-3, Tioga,
DateOil RunsMCF Sold
5-2024122690
4-20241159212929
3-20241335914653
2-20241179618481
1-20242819921802

  • 40244, conf, Whiting, Sanish Bay 5292 22-7 9BX (Oasis naming scheme), Sanish, npd,
  • 40230, conf, Neptune Operating, Gustafson 5-8 4H, Buffalo Wallow,
DateOil RunsMCF Sold
5-2024277510

  • 40299, conf, Whiting, Sanish Bay E Federal 5292 31-6 3B, Sanish, npd,
  • 40253, conf, CLR, Benner 5-7H, Jim Creek, npd,
  • 39894, conf, Hess, EN-Madisyn-LE-154-94-0705H-10, Alkali Creek,
DateOil RunsMCF Sold
5-2024119530
4-20241436137306
3-20241437536954
2-20241839039508
1-20241919427537
  • 40252, conf, CLR, Benner 4-7H, Jim Creek, npd,
  • 39964, conf, Petroshale, Primus 1TFH, Antelope, npd,
  • 39527, conf, Petro-Hunt, Burian 144-98-15B-22-2H, Little Knife, npd,
  • 39427, conf, Hunt, Blue Ridge 159-100-5-8H 3, Green Lake,
DateOil RunsMCF Sold
5-20241238113128
4-2024159664239
3-20242256910335
2-2024108241947
1-202487904846
  • 40319, conf, Kraken, Maddie 10-15-22 3H, Ellisville, npd,
  • 40298, conf, Whiting, Sanish Bay E Federal 5292 31-6 4B, Sanish, npd,
  • 40234, conf, Empire North Dakota, Bobwhite 29-2 1H, Starbuck,

DateOil RunsMCF Sold
5-202428180
4-202419150
3-202415290
2-202416760
  • 39924, conf, Slawson, Switchback 4-21UTFH, Big Bend, npd,
  • 39528, conf, Petro-Hunt, Burian 144-98-15A-22-3H, Little Knife, npd,
  • 39428, conf, Hunt, Blue Ridge 159-100-5-8H 4, Green Lake,
DateOil RunsMCF Sold
5-20241620217344
4-2024168704454
3-2024201028926
2-20247150156
1-202473686006
  • 40382, conf, Kraken Maddie 10-15-22 4H, Ellisville, npd,
  • 40282, conf, Whiting, Sanish Bay E Federal 5292 31-6 5B, Sanish, npd,
  • 40251, conf, CLR Benner 3-7H, Jim Creek, npd,
  • 39925, conf, Slawson, Switchback 5-21UTFH, Big Bend, npd,
  • 40383, conf, Kraken, Maddie 10-15-22 5H, Ellisville, npd,
  • 40250, conf, CLR, Benner 2-7HSL, Jim Creek, npd,

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Matador Bolts On 33,000 Acres In The Permian -- July 7, 2024

Locator: 48064PERMIAN.

Link here.

Permian.

Matador bolt-on.

Acquires private-equity-backed Ameredev II for $1.9 billion.

$1.9 billion.

33,500 acres --> $57,000 / acre.

25,500 boepd --> $75,000 / boepd.

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