Chevron To Sell $6 Billion In Corporate Bonds -- Its Largest Deal Since At Least 1995 -- Among The Top Ten Deals This Year

Rigzone is reporting:

Taking advantage of a calmer market ahead of a key Federal Reserve meeting, Chevron Corp. is selling $6 billion in corporate bonds on Monday, its largest deal since at least 1995.

Chevron's four-part deal is coming in three-, five-, seven- and 10-year maturities. Underwriters lowered yields on the sale throughout the day, suggesting good demand from investors. The three-year debt was offered to yield 0.40 percentage point more than comparable Treasurys. The 10-year debt was offered to yield 1.00 percentage point more than comparable Treasurys.

Chevron last came to market in November, when it sold $4 billion, according to Dealogic, whose data go back to 1995. Chevron's deal Monday is among the biggest 10 for the year. It is tied with Bank of America Corp., Goldman Sachs Group Inc. and Vodafone Group PLC, which all had $6 billion deals earlier in the year. The biggest deal of the year is Apple Inc.'s $17 billion sale, which is also the largest U.S. corporate bond on record.

Random Note On Saudi's Oil Consumption ....

... yes, consumption, not production.

This was found via The Oil Drum.

The Daily Star is reporting:

According to a Chatham House report, Saudi Arabia’s surging domestic oil consumption – coupled with its inadequate supply growth – could turn the kingdom into a net oil importer by 2038. Guzzling more than a quarter of its 11.1 million barrel per day production in 2011, Saudi Arabia is the fifth-largest oil consumer in the world. The kingdom even recently surpassed Germany’s consumption level, despite having less than one-third of Germany’s population and one-fifth of its economic output. Continued consumption growth, if left unchecked, could devastate the country’s economy in the coming years.

Demography partly explains this growing use of oil. The population has doubled since 1985 and demand has risen accordingly, but the main culprit is the kingdom’s growing economic prosperity tied with its reliance on oil-fired power generation. Almost all of Saudi Arabia’s energy needs are met by oil and gas – and burning crude oil to overcome gas shortages has increasingly become the norm. Given that oil in particular accounts for nearly 90 percent of the country’s exports and state budget, it is no wonder that Saudi officials hope to rein in consumption as the kingdom continues to eat up more and more of its own export wares.

An interesting article. To say the least.

Wells Coming Off The Confidential List Tuesday; 5/9 To DRL Status; Whiting With A Nice Sanish Well

22691, 478, SM Energy, Anderson 14-20H, Sixmile, t4/13; cum 15K 4/13;
23565, 935, Whiting, McNamara 41-26XH, Sanish, t12/12; cum 51K 4/13;
23654, 88, Hunt, Frazier 1-1-12H, Frazier, t4/13; cum 20K 4/13;
24183, drl, Statoil, Folvag 5-8 4TFH, no data, Stony Creek,
24369, drl, Hess, EN-Weyrauch A-154-93-1720H-4, Robinson Lake, no data,
24371, drl, Hess, EN-Weyrauch A-154-93-1720H-6, Robinson Lake, no data,
24376, drl, KOG, P Wood 154-98-3-27-34-15H3M, Truax, no data,
24398, drl, QEP, MHA 1-04-33H-150-92, Heart Butte, no data,
24545, 101, MRO, Huber USA 41-2H, Wolf Bay, t2/13; cum 3K 4/13;

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

22691, see above, SM Energy, Anderson 14-20H:

Date	Oil Runs	MCF Sold
4-2013	12269	2325
3-2013	1770	85

23565, see above, Whiting, McNamara 41-26XH, Sanish:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2013	30	11013	11065	178	6923	6864	0
BAKKEN	3-2013	31	12010	12015	300	6265	6205	0
BAKKEN	2-2013	25	10389	10471	415	4726	4658	20
BAKKEN	1-2013	25	11934	12153	1002	4949	2256	2647
BAKKEN	12-2012	9	5270	4821	2159	1317	631	669

 23654, see above, Hunt, Frazier 1-1-12H:

Date	Oil Runs	MCF Sold
4-2013	10277	0
3-2013	3625	0
2-2013	5555	0

 24545, see above, MRO, Huber USA 41-2H, Wolf Bay:

Date	Oil Runs	MCF Sold
4-2013	639	0
3-2013	1007	0
2-2013	899	0

More Evidence That QEP Got A Helis-Of-A-Deal In The Grail

Flashback: QEP buys Helis.

This producing well was completed and reported in today's daily activity report.

• 22371, 3,668, QEP, Hazel 13-34/27H, Grail, t5/13; cum --

Curious what is going on in that section and the section north of it?

This 4-well pad with a rig on site:

• 22371, 3,668, QEP, Hazel 13-34/27H, Grail, t5/13; cum --
• 24614, conf, QEP, Hemi 3-34-27TH, Grail,
• 24615, conf, QEP, Hemi 3-34-27BH, Grail,
• 24616, conf, QEP, Hemi 2-34-27TH, Grail,

Immediately south, across the section line, this 3-well pad, also with a rig on site:

• 25192, conf, QEP, Poncho 4-3-10BH, Grail,
• 19898, 2,421, QEP, Gabbert 3-3/10H, Grail, t10/11; cum 249K 4/13;
• 25191, conf, QEP, Poncho 3-3-10BH, Grail,

To the east, this 3-well pad:

• 24827, conf, QEP, Hemi 2-27-34BH, Grail,
• 19104, 1,203, QEP, Henderson 16-34/27H, Grail, t5/11; cum 204K 4/13;
• 24826, conf, QEP, Hemi 1-27-34BH, Grail, 

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

Some famous quotes. We've come a long way:

• I cannot tell a lie. I chopped down that cherry tree.
• I am not a crook.
• I did not have sexual relations with that woman.
• I'm the decider.
• I am not Dick Cheney.  

For more, click here. 

Four (4) New Permits -- The Williston Basin, North Dakota, USA; OXY USA With Two Nice Wells; QEP With A Huge Well; QEP Got A Great Helis Deal; G3 Operating With A Nice Well -- June 17, 2013

Active rigs: 182 (trending down)

Four (4) new permits -- 

• Operators: CLR (2), Corinthian, Legacy
• Fields: Antelope (McKenzie), North Souris (Bottineau), Red Rock (Bottineau)
• Comments:

Wells coming off the confidential list were reported/tweeted earlier today.

Seven (7) producing wells completed:

• 22371, 3,668, QEP, Hazel 13-34/27H, Grail, t5/13; cum 309K 11/15;
• 23027, 1,388, OXY USA, Dennis Kadrmas 3-9-4H-13-96, Fayette, t4/13; cum 218K 11/15;
• 23028, 803, OXY USA, State 3-16-21H-143-96, Fayette, t4/13; cum 150K 11/15;
• 23223, 1,210, G3 Operating, Fort Berthold 148-94-22A-27-2H, t3/13; cum 171K 11/15;
• 23821, 1,034, Hess, HA-State 152-95-1621H-3, Hawkeye, t5/13; cum 159K 11/15;
• 23954, 501, Hess, EN-D Cvancara S-154-93-0904H-2, Robinson Lake, t5/13; cum 88K 11/15;
• 23955, 560, Hess, EN-D Cvancara S-154-93-0904H-3, Robinson Lake, t5/13; bcum 98K 11/15;