China - Venezuela in High Level Talks

Just one week ago -- November 17 -- I posted a story about China re-entering Ameria's oil shale play.

Today Rigzone has a story on the Chinese funding oil projects in Venezuela to the tune of $4 billion.

Note the amount of Venezuela oil being shipped to China:

Venezuela will sign on Wednesday a new $4 billion loan agreement with China that will go to finance oil projects in the hydrocarbons-rich South American country, according to Venezuelan Oil Minister Rafael Ramirez.

The two countries, which are holding a summit of high-level officials in Caracas, will also renew a separate $4 billion tranche of an existing bilateral development fund, Ramirez told reporters Tuesday.

Venezuela has increasingly turned to the Asian giant for credit lines in recent years to finance projects ranging from housing to mining to agriculture in the South American country. In return, Venezuela is repaying the loans with shipments of crude oil, which currently amount to more than 400,000 barrels a day, according to the Venezuelan Oil Ministry.

400,000 bopd represents about the amount currently be produced by the Bakken on a daily basis. Can you imagine the total Bakken output going to one country, China in this case?

E-Mails From the Global Warming Community -- Comments Not Necessary

Link here.

“Observations do not show rising temperatures throughout the tropical troposphere unless you accept one single study and approach and discount a wealth of others. This is just downright dangerous. We need to communicate the uncertainty and be honest. Phil, hopefully we can find time to discuss these further if necessary,” reads one message.

“I also think the science is being manipulated to put a political spin on it which for all our sakes might not be too clever in the long run,” reads another.

"I find myself in the strange position of being very skeptical of the quality of all present reconstructions, yet sounding like a pro greenhouse zealot here!” reads a third.

A most respected business magazine, Forbes, has picked up on the release of these e-mails, also:

Three themes are emerging from the newly released emails: (1) prominent scientists central to the global warming debate are taking measures to conceal rather than disseminate underlying data and discussions; (2) these scientists view global warming as a political “cause” rather than a balanced scientific inquiry and (3) many of these scientists frankly admit to each other that much of the science is weak and dependent on deliberate manipulation of facts and data.

It just keeps getting worse. This one from Mail Online.

Following on from the original 'climategate' emails of 2009, the new package appears to show systematic suppression of evidence, and even publication of reports that scientists knew to be based on flawed approaches.

And not only do the emails paint a picture of scientists manipulating data, government employees at the Department for the Environment, Food and Rural Affairs (Defra) are also implicated.

One message appeared to show a member of Defra staff telling colleagues working on climate science to give the government a 'strong message.'

The emails paint a clear picture of scientists selectively using data, and colluding with politicians to misuse scientific information.

"The essential English leadership secret does not depend on particular intelligence. Rather, it depends on a remarkably stupid thick-headedness. The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous." -- Joseph Goebbels, Wikiquote

More Evidence That "We've" Entered the Manufacturing Stage in the Bakken -- A 5-Well Pad -- BEXP -- The Bakken, North Dakota, USA

Updates

February 26, 2016: the original was very short, just pointing out the beginning of the "manufacturing stage" in the Bakken; the IPs, production profiles, and halo effect were all updated this date. 
 

Original Post

 

I think this is the first bona fide 5-well pad (permits) in the Bakken, in Alger field, one of the better Bakken fields, all in SWSW 20-155N-92W, all are 350 feet from the south line; the farthest west is 950 feet from the west line, and then they are spaced 25 feet apart, so that the farthest east is 1,050 feet from the west line :

• 21952, 4,293, BEXP, Sorenson 29-32 3H, Alger, t9/12; cum 261K 12/15;
• 21953, 2,790, BEXP, Cvancara 20-17 2TFH, Alger, t9/12; cum 178K 12/15;
• 21954, 3,078, BEXP, Sorenson 29-32 4H, Alger, t9/12; cum 227K 12/15;
• 21955, 2,972, BEXP, Cvancara 20-17 3H, Alger, t9/12; cum 201K 12/15;
• 21957, 1,779, BEXP, Cvancara 20-17 4TFH, Alger, t7/14; cum 86K 12/15;

Pretty cool.

When you get to the Alger field (see link above), check out the huge BEXP wells in that field, and then do a head-to-head comparison of IPs with other drillers in that field.

This is where some record IPs were recorded by BEXP (Cvancara and Sorenson). I need to go find the links. This is really quite incredible.

Interestingly enough, these wells are just a few miles to the northeast of where KOG acquired the North Plains Energy acreage. Very, very exciting.

*********************************

Production Profiles For Past Few Months

21952, 4,293, BEXP, Sorenson 29-32 3H, Alger, t9/12; cum 261K 12/15:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2015	11	2655	2331	1249	1227	771	456
BAKKEN	11-2015	0	0	0	0	0	0	0
BAKKEN	10-2015	11	1726	1292	885	2092	1910	182
BAKKEN	9-2015	14	1633	2239	948	872	758	114
BAKKEN	8-2015	31	4246	4094	2961	2249	1988	261
BAKKEN	7-2015	31	4722	4931	2821	4309	3445	864

21953, 2,790, BEXP, Cvancara 20-17 2TFH, Alger, t9/12; cum 178K 12/15:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2015	31	2489	2415	5087	1744	1744	0
BAKKEN	11-2015	30	3237	3332	4113	1719	1719	0
BAKKEN	10-2015	19	2632	2355	2846	1304	1300	4
BAKKEN	9-2015	1	69	277	37	74	45	29
BAKKEN	8-2015	31	3072	3144	1218	2717	2150	567
BAKKEN	7-2015	31	3804	3803	545	4303	3696	607

21954, 3,078, BEXP, Sorenson 29-32 4H, Alger, t9/12; cum 227K 12/15:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2015	11	2116	1993	1429	1866	1679	187
BAKKEN	11-2015	0	0	0	0	0	0	0
BAKKEN	10-2015	11	1692	1750	777	1919	1919	0
BAKKEN	9-2015	14	1441	1301	561	1861	1861	0
BAKKEN	8-2015	31	4118	4255	1109	4507	4507	0
BAKKEN	7-2015	31	4045	4074	1425	5414	5414	0

21955, 2,972, BEXP, Cvancara 20-17 3H, Alger, t9/12; cum 201K 12/15:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2015	31	4938	4767	3640	4989	4824	165
BAKKEN	11-2015	30	6009	6153	3201	5025	4767	258
BAKKEN	10-2015	20	4603	4731	3103	2154	2012	142
BAKKEN	9-2015	13	2586	2403	1310	3181	2895	286
BAKKEN	8-2015	31	6277	6380	2309	7310	6078	1232
BAKKEN	7-2015	31	7208	7167	3935	7138	6304	834

21957, 1,779, BEXP, Cvancara 20-17 4TFH, Alger, t7/14; cum 86K 12/15:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2015	30	4324	4029	6839	6048	4607	1441
BAKKEN	11-2015	30	2915	3025	3692	3668	3548	120
BAKKEN	10-2015	19	2589	2321	2994	2282	2190	92
BAKKEN	9-2015	1	86	317	106	185	180	5
BAKKEN	8-2015	31	3444	3606	5036	6745	6332	413
BAKKEN	7-2015	31	5312	5163	5337	7917	6788	1129
BAKKEN	6-2015	29	3388	3520	5902	4630	4387	243
BAKKEN	5-2015	31	6223	6285	7168	9296	9024	272

 Just one example of the halo effect. The first four wells were taken off-line in the summer of 2014, when the fifth well was fracked. This is the production profile of one of those four wells (#21954) around that time:

BAKKEN	9-2014	29	12815	12681	5361	16534	16491	43
BAKKEN	8-2014	20	11698	11389	3749	15559	14245	1314
BAKKEN	7-2014	2	3	369	0	0	0	0
BAKKEN	6-2014	0	0	0	0	0	0	0
BAKKEN	5-2014	18	11747	11722	4978	14928	13518	1410
BAKKEN	4-2014	13	9543	9663	1604	7510	6452	1058
BAKKEN	3-2014	1	3	0	0	0	0	0
BAKKEN	2-2014	0	0	0	0	0	0	0
BAKKEN	1-2014	0	0	0	0	0	0	0
BAKKEN	12-2013	0	0	0	0	0	0	0
BAKKEN	11-2013	30	0	0	0	0	0	0
BAKKEN	10-2013	31	2349	2879	690	1894	0	1894
BAKKEN	9-2013	15	3839	2914	1210	2902	0	2902

Fourteen (14) New Permits -- BEXP With Permits for 5 Wells on One Pad -- The Bakken, North Dakota, USA

Wow, the NDIC deserves a break tomorrow -- fourteen new permits today!

Operators:  BEXP (5), Marathon (4), OXY USA, Denbury Onshore, Legacy, KOG, Whiting

Fields: Siverston, Alger, Mondak, Zenith, Killdeer.

OXY USA has a permit for a wildcat; Legac, also.

A long time ago I suggested that, I think it was EOG, was putting six wells on one pad; I was taken to task; someone told me it was three wells on each of two pads right next to each other. Well, be that as it may, BEXP has permits for five wells on one pad in Alger oil field.

None of the wells released from the confidential list were all that exciting (only two of five were fracked; and these two had mediocre IPs).

Of the wells on DRL status that have now been completed, some wells of concern, and a couple of good ones:

• 19525, 45, Samson Resources, Yukon 12-1-163-98H, Divide
• 20274, 1,253, MRO, One Feather USA 11-17H, Deep Water Creek Bay, McLean
• 20287, 1,244, MRO, Johnson 44-32H, Reunion Bay, Mountrail

I know I sound like a broken record, but MRO is joining Newfield, Slawson, BEXP, WLL, Oasis, KOG as having consistently good wells. 

Pressure Pumpers -- For Investors -- The Bakken, North Dakota, USA

For investors, it might be interesting to know who manufactures the pressure pumpers used by Halliburton, et al, to fracture the Bakken wells (and the Haynesville, and the Marcellus, and the ... well, you get the picture).

I assume Cal-Frac Well Services and Weatherford are two of many, although they may also use pressure pumpers manufactured by others (Sundyne?). 

I don't know who makes pressure pumpers but at least one person has asked me the question, so I'm not the only one.

For a nice short review of the evolution of pressure pumpers, click here.

If there's enough companies, I might even be able to add a "top ten" list of pressure pump manufacturers to the sidebar at the right.