Wednesday, April 23, 2025

Enerplus MLB's Pitcher's Pad / Tennis Pad Is Now Starting To Report Production Data Of The New Wells -- April 2025

Locator: 48504B.

The wells:

  • 40524, drl/loc, Enerplus, Closer 149-92-19C-18H-LL, Heart Butte,
DateOil RunsMCF Sold
2-20251745813786
  • 40525, drl/loc, Enerplus, Southpaw 149-92-19C-18H, Heart Butte, npd,
  • 40526, drl/loc, Enerplus, Bullpen 149-92-19C-18H, Heart Butte,
DateOil RunsMCF Sold
2-20252296817305
  • 22238, 878, Enerplus, Knuckle 149-92-19C-18H, Heart Butte, t7/12; cum 523K 3/24; cum 523K 3/24; offline
  • 40527, drl/loc, Enerplus, Juiced149-92-19C-18H, Heart Butte,
DateOil RunsMCF Sold
2-20252225317207
  • 40528, drl/loc, Enerplus, Dinger 49-92-19D-18H, Heart Butte,
DateOil RunsMCF Sold
2-20253074722771
  • 22239, PNC, Enerplus, Deuce 149-92-30B-31H TF, Heart Butte,
  • 40530, drl/loc, rig on site, Enerplus, Lumber 149-92-19D-18H, Heart Butte,
DateOil RunsMCF Sold
2-20252754620524
  • 22240, 603, Enerplus, Net 149-92-30B-3H, Heart Butte, t7/12; cum 389K 3/24;cum 390K 3/24; offline
  • 40531, drl/loc, Enerplus, Deuce149-92-19D-18H, Heart Butte,
DateOil RunsMCF Sold
2-20253350826957
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Intel -- Update On Foundry Ambitions -- April 23, 2025

Locator: 48503INTEL.

Forbes, link here: why Intel's plans for a foundry may be in for a setback.  

Intel is betting big on its 18A process, which it considers its most advanced yet, to turn around its foundry business. The process produces chips with technologies including RibbonFET gate-all-around transistors and PowerVia backside power delivery, which are expected to boost performance and power efficiency.
The chips using this process will be based on a 1.8-nanometer node size, putting Intel slightly ahead of TSMC’s N2 process which operates at a 2 nm node and is expected to arrive in the second half of 2025.
While TSMC claims that its N2 process will outperform Intel’s 18A in some crucial areas, such as SRAM density (enabling it to store more data in a smaller physical area), Intel’s 18A’s backside power delivery gives it a competitive edge​ with reduced power loss and better thermal performance. Good news on the new chip’s progress, or bad news if delays occur, could increase volatility in the stock.




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Random Update Of A BR Phantom Well Drilled Back In 2010 -- April 23, 2025

Locator: 48502PHANTOM.

The well of interest:

  • 19102, 1,885, BR, Phantom Ship 24-22H, Elidah, t12/10; cum 833K 6/24; 874K 2/25;

Look at this production profile since September, 2021:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025167904001219382639
BAKKEN1-2025979659256128252579135
BAKKEN12-2024112376278121201745917157169
BAKKEN11-2024115910550152294228941753410
BAKKEN10-2024166755703759864402443311550
BAKKEN9-2024227225696562384250241643592
BAKKEN8-20241582678354667148375468761318
BAKKEN7-202417100951040981805231051253846
BAKKEN6-2024146532669955433165430669821
BAKKEN5-2024316990690574894238041502507
BAKKEN4-2024308686865970644627345410487
BAKKEN3-20243110090996878604899948002609
BAKKEN2-202426107641069379635059449685583
BAKKEN1-202425111831123872474353442621600
BAKKEN12-202328130991309490405129350221721
BAKKEN11-202321138381400997665109150098742
BAKKEN10-202325172411700197766091159788810
BAKKEN9-2023301601116072111905123250062794
BAKKEN8-2023311687416873140155343252106938
BAKKEN7-2023291712617284191715251251180969
BAKKEN6-20231491828553139502516224499488
BAKKEN5-20232100200
BAKKEN4-20230000000
BAKKEN3-20230000000
BAKKEN2-202321152531572775794353242550719
BAKKEN1-202331173751728590574527344047838
BAKKEN12-202219111451123164012888928101550
BAKKEN11-2022221405313981758236133345381015
BAKKEN10-20223118503186151160448453460901546
BAKKEN9-20222720953209741382254035518551468
BAKKEN8-20223120899206851555854467520481602
BAKKEN7-20222016944172431592644427419461954
BAKKEN6-20222615981157071642040166379241557
BAKKEN5-20221218381180622067343298417071275
BAKKEN4-20221225424310259325930
BAKKEN3-2022158580236823680
BAKKEN2-20220000000
BAKKEN1-20220000000
BAKKEN12-20210000000
BAKKEN11-20211000000
BAKKEN10-20210000000
BAKKEN9-20211492410301802387233220

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Four New Permits -- Three Permits Renewed -- Three DUCs Reported As Completed -- April 23, 2025

Locator: 48501B.

Warren Buffett: laughing all the way to the bank. Link here. 

Data from the U.S. Department of the Treasury’s Monthly Statement of the Public Debt reports that the total T-bill market stood at approximately $6.15 trillion at the end of March 2025. That means Buffett's holding, approximately $301billion, represents nearly 1 in every 20 dollars circulating in the U.S. Treasury bill system.

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

WTI: $62.38.

Active rigs: 31.

Four new permits, #41839 - #41842, inclusive:

  • Operator: Zavanna
  • Field: Stony Creek (Williams County)
  • Comments:
    • Zavanna has permits for four Mastiff wells, NWNE 22-155-100, 
      • to be sited 657/658 FNL and 1723 / 1813 FEL.

Three permits renewed:

  • Grayson Mill: three Skaar wells in South Tobacco Garden;

Three producing wells (DUCs) reported as completed:

  • 36608, 1,325, Lime Rock Resources, Jore Maddy Fed 2H, McKenzie;
  • 36609, 1,302, Lime Rock Resources, Jore Maddy Fed 1H, McKenzie;
  • 37975, 0, BR, Concord 3B, Dunn County; see "wells of interest," below;

Wells of interest:

  • 22210, 1,920, BR, Concord 34-10MBH, Little Knife, t9/12; cum 395K 2/25;
  • 21454, IA/2,846, BR, Concord 44-10MBH, Little Knife, t9/12; offline; cum 428K 5/24;
  • 28791, 923, Lime Rock, Jore Federal 2-11-8H, North Fork, t6/15; cum 302K 2/25;
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The Amazing BR Mazama Wells In Elidah Oil Field -- April 23, 2025

Locator: 48500MAZAMA.

Incredibly good wells. The Mazama wells are tracked elsewhere, but look at these initial production numbers:

The wells, to the west:

  • 19690, 2,884, BR, Mazama 44-21H, Elidah, t7/11; cum 555K 6/24; cum 572K 2/25; an older well with jump in production:
BAKKEN8-2023316807717135481820517624456
BAKKEN7-2023318115777634651936818746497
BAKKEN6-2023257988803332061800617502403
BAKKEN5-202328112031145371342628125539629
BAKKEN4-20231133833144271365296034451
BAKKEN3-20230000000
BAKKEN2-2023151657196135237363253422
BAKKEN1-202391728120519434262974416
BAKKEN12-2022149139441742873276750
BAKKEN11-2022302324255458058715498252

  • 37516, loc/A, BR, Mazama 4A UTFH, Elidah, npd after two months; t8/24; cum 205K 2/25;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282064320610169706690165768923
BAKKEN1-20253126805268762274484788822071448
BAKKEN12-20242924749248402602473684712391412
BAKKEN11-20243034498344743579297550961690
BAKKEN10-2024314142041430433781176271175040
BAKKEN9-20242334488344403523494713946350
BAKKEN8-20243122488222662291648242481160
  • 37517, loc/A, BR, Mazama 1D MBH, npd after one month; t8/24; cum 118K 2/25;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282062020586169486675865696922
BAKKEN1-20253026456265252188079956786191180
BAKKEN12-20242924328244232557871009697221097
BAKKEN11-20243034518343073581296358959130
BAKKEN10-2024211605115321200531113310810
  • 37518, loc/A, BR, Mazama 2A UTFH, npd after one month; t8/24; cum 184K 2/25;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282072320689170286756065998927
BAKKEN1-20253126672267432208781034792771190
BAKKEN12-20242924652246092592072140708651112
BAKKEN11-20241818126181621869850258500040
BAKKEN10-20241029438295823098285446853570
BAKKEN9-2024224194241835403111184751183770
BAKKEN8-20243122490222682291748243481170
  • 37519, 4,119, BR, Mazama 2B, MBH, npd after two months; came off confidential list September 3, 2024; link here. t8/24; cum 185K 2/25;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282072220688170286783665997927
BAKKEN1-20253026649267202215882985799112692
BAKKEN12-20242824682246392595271829704991113
BAKKEN11-20241818125181641869850459500040
BAKKEN10-20241029818299633137486516864260
BAKKEN9-2024234250542394408941204421199330
BAKKEN8-20243122488222662291648243481170
  • 37520, loc/A, BR, Mazama 2C UTFH, Elidah, very early production, t10/24; cum 116K 2/25;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282072120687170286749465996927
BAKKEN1-20253126597266542194780361789041187
BAKKEN12-20242922882229882404868550665901032
BAKKEN11-20242734575343643587396134960440
BAKKEN10-2024311604115311200531113310810

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Random Update Of A BR Parrish Well in Pershing Oil Field -- April 23, 2025

Locator: 48499PARRISH.

I'm sure I've reported this one earlier but don't remember so, we'll do it again.

  • 37929, loc/A, BR, Parrish 3A TFH, Pershing, 4/24; cum 238K 2/25:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-2025282369623703206765003848711839
BAKKEN1-2025312706326897237415091149609821
BAKKEN12-20243017905179351699531009291821552
BAKKEN11-2024302013820119181523591034764796
BAKKEN10-2024312367823650202543965238432855
BAKKEN9-2024211516515230122112323622363676
BAKKEN8-2024262067020662177902950428605640
BAKKEN7-2024172893328768270075569954764922
BAKKEN6-202415570587001503614860172
BAKKEN5-2024294468344583427117860178125458
BAKKEN4-20243010139984991291619615866305
BAKKEN3-20240000000
BAKKEN2-20240006254000

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Updating The Oasis Spratley Wells -- April 23, 2025

Locator: 10010SPRATLEY.


The Spratley Wells

33528, 428, Oasis, Spratley 5494 44-13 7B, Alkali Creek, t1/18; cum 121K 11/20; cum 127K 5/21; cum 136K 4/22; cum 153K 2/25;
33527, 1,203, Oasis, Spratley 5494 44-13 6T, Alkali Creek, t1/18; cum 398K 11/20; big well; cum 414K 5/21; cum 441K 4/22; cum 491K 2/25;
33526, 649, Oasis, Spratley 5494 44-13 5B, Alkali Creek, t1/18; cum 398K 11/20; cum 284K 5/21; cum 300K 4/22; cum 330K 2/25;
33525, 786, Oasis, Spratley 5494 44-13 4T, Alkali Creek, t1/18; cum 351K 11/20; cum 362K 5/21; cum 381K 4/22; cum 429K 2/25;
33524, 930, Oasis, Spratley 5494 44-13 3BX, Alkali Creek, t1/18; cum 469K 11/20; cum 494K 5/21; cum 530K 4/22; cum 594K 2/25;
33442, 801, Oasis, Spratley 5494 14-13 15T, Alkali Creek, 4 sections, 50 stages; 19.9 million lbs; mesh, medium, medium ceramic, t11/17; cum 503K 11/20; cum 529K 5/21; cum 568K 4/22; cum 654K 2/25;
33441, 1,746, Oasis, Spratley 5494 14-13 15T, Alkali Creek, t11/17; cum 317K 4/21; cum 319K 5/21; cum 334K 4/22; cum 366K 2/25;
33440, 683, Oasis, Spratley 5494 14-13 14B, Alkali Creek, t11/17; cum 379K 11/20; cum 395K 5/21; cum 418K 4/22; cum 465K 2/25;
33439, SI/NC-->569, Oasis, Spratley 5494 14-13 13T, Alkali Creek,  t11/17; cum 289K 11/20; cum 302K 5/21; cum 320K 4/22; cum 352K 2/25;
33438, 1,189, Oasis, Spratley 5494 14-13 12B, Alkali Creek, t11/17; cum 336K 11/20; cum 349K 5/21; cum 369K 4/22; cum 401K 2/25;
30963, 657, Oasis, Spratley 5494 34-13 11T, Alkali Creek, t11/17; cum 340K 11/20; cum 353K 5/21; cum 371K 4/22; cum 415K 2/25;
30962, 810, Oasis, Spratley 5494 34-13 10B, Alkali Creek, t1/18; cum 319K 11/20; cum 330K 5/21; cum 346K 4/22; cum 378K 2/25;
30961, 741, Oasis, Spratley 5494 34-13 9T, Alkali Creek, t12/11; cum 312K 11/20; cum 237K 5/21; cum 387K 2/25;
30960, 840, Oasis, Spratley 5494 34-13 8B, Alkali Creek, t1/18; cum 324K 11/20; cum 335K 5/21; cum 356K 4/22; cum 395K 2/25;
30959, PNC, Oasis, Spratley 5494 34-13 7T3, Alkali Creek, 
19946, 1,474, Oasis, Spratley 5494 34-13H, Alkali Creek, cased hole, 4.4 million lbs (sand + ceramic), t10/11; cum 681K 11/20; still producing at 3,000 bbls/month (4/19); see this post; then a huge jump 12/17; cum 694K 5/21; cum 712K 4/22; cum 758K 2/25; big jump in production in 2018;

Updates

November 11, 2019: production update for #19946 around the time the neighboring wells were fracked. 

November 11, 2019: graphic updated for the Spratley wells:


November 5, 2018: update of a Spratley well. 

August 22, 2017: wells updated; many wells went from loc to drl. Several new DUCs. Three rigs in the area; two rigs drilling Spratley wells.

May 4, 2017: Oasis with permits for a 5-well Spratley pad, SESE 13-154-94, Alkali Creek, as of this date.

Original Post
Anyone want to hazard a guess what the production in #19946 will do when nine (9) neighboring wells are completed? Don't reply; it's a rhetorical question and we won't know for quite some time.

The Graphic:



The existing well:
  • 19946, 1,474, Oasis, Spratley 5494 34-13H, Alkali Creek, cased hole, 4.4 million lbs (sand + ceramic), t10/11; cum 475K 1/17; 
Production profile for the first five months of this well (fourth column is oil production; last column is amount of natural gas flared):
BAKKEN1-2012312117821855526422278022278
BAKKEN12-2011312110221194512422200022200
BAKKEN11-2011302846028673744329939029939
BAKKEN10-20113142330417161486144531044531
BAKKEN9-2011151334712722382514042014042
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The EIA Note -- April 23, 2025

Locator: 48498EIA.

We'll go through this article later.

Link here.

US oil production is projected to reach its highest level ever at 14 million barrels per day (mbbl/d) in 2027, maintaining this plateau until the end of the decade before entering a period of sustained decline, according to the latest Annual Energy Outlook from the US Energy Information Administration.

This marks a pivotal moment for the world’s largest oil producer, signalling the impending end of the nearly two-decade US shale boom.

The EIA forecasts that after 2027, US output will gradually fall, reaching approximately 11.3 mbbl/d by 2050.

Current production stands at around 13.7 mbbl/d, underscoring the scale of the anticipated decline.

The agency also projects that US shale oil production will peak at 10 mbbl/d in 2027 — up from 9.69 mbbl/d this year — before dropping to 9.33 mbbl/d by 2050.

The report suggests that the trajectory of US oil production has been shaped by policy decisions from both recent administrations.

The Department of Energy attributed the projected decline to the policies of former President Joe Biden, stating they have set a “disastrous path” for US energy production.

However, the DOE also noted that the issuance of drilling permits accelerated under Biden compared to Trump’s first term.

The International Energy Agency (IEA) highlighted the impact of President Donald Trump’s tariffs on trading partners, which have increased costs for shale drillers and contributed to downward revisions in US output forecasts for 2025.

The IEA also predicts that global oil demand growth will slow, with US production tapering due to these tariffs and retaliatory moves from trading partners.

US oil demand, which rebounded after the pandemic, is expected to stabilise next year.

The EIA projects a slight increase from 20.51 mbbl/d this year to 20.52 mbbl/d in 2026.

For context, pre-pandemic US oil consumption averaged 20.54 mbbl/d in 2019, with the all-time high set in 2005 at 20.80 mbbl/d.

The EIA has revised its global oil demand growth forecasts downward, citing weaker economic activity driven by trade tensions between the US and China.

Brent crude is now expected to average US$67.87 per barrel this year, down from an earlier forecast of US$74.22/bbl, while US benchmark West Texas Intermediate (WTI) is forecasted to average US$63.88/bbl in 2025, nearly US$7 below the prior forecast.

On Tuesday, Brent futures traded just below US$65/bbl, down around 13 per cent year-to-date, and WTI hovered at US$61.25/bbl, down about 14 per cent.

The IEA reported a sharp cut in world oil demand growth this year, projecting a rise of 730,000 barrels per day (bpd), down from the previous forecast of 1.03 mbbl/d.

“The deteriorating outlook for the global economy amid the sudden sharp escalation in trade tensions has prompted a downgrade to our forecast for oil demand growth this year,” the IEA stated.

In 2026, the agency predicts a further slowdown in demand growth to 690,000 bpd, citing economic fragility and increased electric vehicle adoption.

The EIA’s projections underscore a critical juncture for the US oil industry.

While record-setting production was achieved during Biden’s tenure in 2023 and 2024, and drilling permits increased, the combined effects of policy shifts and global economic headwinds are expected to reshape the sector’s future.

As the US approaches its production peak, industry stakeholders and policymakers face mounting pressure to navigate the transition and ensure energy security amid evolving market dynamics.

Best blog ever on this phenomenon: Jane Nielson on "Bakken Oil Hype." Link here. 

Mentioned several times on the blog. Here's one link. What a doofus. Wow, that's from 2010 and now it's 2025. Fifteen years later. The Bakken has had a pretty good run.

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