Oasis Well With Post-Shut-In-Production-Jump -- February 8, 2017

Post-shut-in-production-jump. Again, for my use only. Do not quote me on this one. Not ready for prime time.

Monthly Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2016	30	2313	2367	1564	5416	4600	516
BAKKEN	11-2016	30	3099	3096	2520	30946	7389	23257
BAKKEN	10-2016	31	3563	3782	3046	8535	7598	937
BAKKEN	9-2016	30	3930	4019	3046	9361	9061	0
BAKKEN	8-2016	26	3646	3516	2744	7004	6744	0
BAKKEN	7-2016	31	3320	3622	2842	6797	6487	0
BAKKEN	6-2016	30	4502	4267	3213	7228	6928	0
BAKKEN	5-2016	31	4424	4264	3711	8278	7968	0
BAKKEN	4-2016	30	5296	5070	4114	6783	6483	0
BAKKEN	3-2016	31	3981	4075	4798	6093	5783	0
BAKKEN	2-2016	24	3266	2944	3978	5108	4868	0
BAKKEN	1-2016	29	10154	10560	10211	11932	11642	0
BAKKEN	12-2015	31	11069	11007	13204	15298	13456	1532
BAKKEN	11-2015	15	8755	8317	14090	6599	6032	417
BAKKEN	10-2015	13	4226	4195	400	635	316	189
BAKKEN	9-2015	0	0	0	0	0	0	0
BAKKEN	8-2015	0	0	263	0	5	5	0
BAKKEN	7-2015	20	4049	4490	3410	4449	3231	1018
BAKKEN	6-2015	29	5867	6091	4460	7064	6737	37
BAKKEN	5-2015	31	6487	6515	5855	9241	8931	0
BAKKEN	4-2015	30	6377	6385	6695	8422	8122	0
BAKKEN	3-2015	31	6526	6128	8574	8301	7622	369
BAKKEN	2-2015	25	6429	5989	11682	4189	3554	310
BAKKEN	1-2015	5	1386	1329	8057	421	421	0
BAKKEN	12-2014	0	0	0	0	0	0	0
BAKKEN	11-2014	1	0	0	200	13	0	0
BAKKEN	10-2014	10	887	1593	230	1811	1421	0
BAKKEN	9-2014	30	3103	3108	735	5009	4619	0
BAKKEN	8-2014	29	2875	2907	630	4963	4586	0
BAKKEN	7-2014	29	3326	2952	954	6154	5777	0
BAKKEN	6-2014	30	3151	3041	912	5810	5420	0
BAKKEN	5-2014	31	3751	4192	1160	6623	5631	589
BAKKEN	4-2014	30	3527	3762	821	3686	3296	0
BAKKEN	3-2014	31	3599	3470	900	5026	4560	63
BAKKEN	2-2014	26	2811	2637	722	3872	3534	0
BAKKEN	1-2014	31	4186	4437	927	4843	4440	0
BAKKEN	12-2013	31	3612	3113	1651	5826	5423	0
BAKKEN	11-2013	30	3627	3990	829	6375	4960	1025
BAKKEN	10-2013	31	4087	4014	1190	6821	6418	0
BAKKEN	9-2013	30	4213	3845	1332	6753	5001	1362
BAKKEN	8-2013	31	4166	4638	1049	3774	3774	0
BAKKEN	7-2013	24	2977	2451	639	2740	2428	0
BAKKEN	6-2013	30	3942	4320	1302	5306	4916	0
BAKKEN	5-2013	31	4487	4843	1575	7932	7529	0
BAKKEN	4-2013	30	4884	4883	1693	10482	10092	0
BAKKEN	3-2013	31	5367	5212	1721	7088	6685	0
BAKKEN	2-2013	28	5462	5416	1838	6519	6155	0
BAKKEN	1-2013	25	6366	5672	1426	2171	1846	0
BAKKEN	12-2012	7	894	1652	312	2073	1982	0
BAKKEN	11-2012	29	5654	5205	1906	9542	9165	0
BAKKEN	10-2012	31	6092	5931	1901	8273	7870	0
BAKKEN	9-2012	30	5698	5575	2224	8460	8070	0
BAKKEN	8-2012	28	7420	7595	2694	7206	6199	643
BAKKEN	7-2012	28	3590	3458	721	1757	0	1419
BAKKEN	6-2012	30	5843	6177	1320	3030	0	2640
BAKKEN	5-2012	31	6717	6530	1782	3419	0	3016
BAKKEN	4-2012	30	7096	7664	1916	3641	0	3251
BAKKEN	3-2012	31	7441	6900	2123	3847	0	3444
BAKKEN	2-2012	26	8069	7815	2277	4171	0	4171
BAKKEN	1-2012	29	8777	9911	2278	4538	0	4538
BAKKEN	12-2011	31	12655	12017	4464	6543	0	6543
BAKKEN	11-2011	30	17408	17515	7555	9000	0	9000
BAKKEN	10-2011	27	12665	11889	15359	6548	0	6548

The well:

• 17636, 1,731, Oasis, Helling Trust 11-15H, Alkali Creek, t10/11; cum 313K 12/16;

Graphic:

What We'll Be Talking About Tomorrow -- February 8, 2017

DAPL to proceed ASAP. Three months to finish.

Update: as expected, first of two likely court challenges filed.  The argument: the pipeline will despoil sacred land. Exhibit A: the current trash clean-up from environmental protesters.

Colombian Crude Oil Imports Into The US Surge Almost One-Half Million BOPD To Over 600,000 BOPD -- And That's Just The Beginning Folks -- An Incredible Report -- A "Saturday Night Live" Sketch? -- February 8, 2017

At 7:00 a.m. this morning, the "talking head" casually mentioned a "14-million-bbl-crude-oil" build this past week. I about fell off my chair. Fourteen-million-bbl-crude-oil" build. Nothing else was said, which suggests to me the producer at Fox Business News "Mornings With Maria" has any clue -- or maybe I heard it on CNBC "Squawk Box." Probably the latter. Whatever.

The data below -- in a long note like this, there are bound to be typographical and factual errors. If this is important to you, go to the source. I'll proofread it later. Maybe.

From Platts / EIA:

• US crude oil inventories soared last week
• inventories at fourth-highest level on record
• gasoline stocks saw a surprise drawdown (we'll see the graphs and data tomorrow)
• as reported earlier, US crude oil inventories jumped almost 14 million bbsl to over 500 million bbls last week
• analysts forecast a build of only 2.5 million bbls

Okay, in case you missed that:

• analysts forecast a build of only 2.5 million bbls
• actual build: almost 14 million bbls
• how can analysts be off that much
• can hardly wait for the monthly NDIC Director's Cut due out next week
• inventories are now just 3.5 million bbls below the all-time high of 512 million bbls (April 2016)
• the biggest driver behind last week's build: IMPORTS

Okay, in case you missed that:

• the US is near the all-time record high of crude oil inventories, BECAUSE OF ...
• IMPORTS

Is this a "Saturday Night Live" sketch?

In all the years I've been doing this, I don't recall a build of 14 million bbls -- due to imports when the US has its own glut. 

OPEC says they are cutting back, we all buy into that, and so far, imports this year have averaged 8.6 million bopd, compared with 8 million bopd before the cut (for the most part)

One analyst, on hearing this, used the word, "ironic."

And where are those imports of crude oil coming from? Take a seat:

• Saudi Arabia -- home of Al Qaeda, 9/11 terrorist
• Venezuela -- "Death to America"
• Iraq -- okay, maybe a friend, who knows?

Those three countries accounted for US imports of 677,000 bopd.

Colombian imports surged 448,000 bopd to 637,000 bopd (that almost looks like a typo, doesn't it). The Colombian graph is here. And yes, most recently, around 350,000 bopd -- and now last week, up to 637,000 bopd.

Much more at the link.  

Can hardly wait to see the weekly graphs and data that should be released today.

Peaceful Coexistence? -- Qatar Likes What It Sees? -- February 8, 2017

Qatar sets sights on US energy market, from middle east online:

• Gas-rich Qatar is looking for opportunities to invest in the US energy market, the Gulf state's Energy Minister Mohammed Saleh al-Sada said on Wednesday.
• Sada said Qatar wanted to build on Doha's good ties with Washington and shrugged off fears about any protectionist policies under US President Donald Trump.

Qatar says oil market can cope with higher shale output, from Reuters: 

Higher oil prices may boost shale oil production but the global oil market can accommodate this as demand remains healthy, Qatar's energy minister said on Wednesday.

U.S. energy companies have been adding oil rigs and redeploying cash and workers, cautiously confident the energy sector has turned a corner after the election of President Donald Trump and a commitment signed by OPEC to curb production in the first half of 2017.

Crude prices have held above $50 a barrel since early December, leading to concerns that higher output by U.S. shale producers could offset any further price gains.

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

Speaking Of Natural Gas

ONEOK likes what it sees, also. From SNL Daily via investorvillage, data points:

• ONEOK expects NGLs segment to make the biggest contribution to its 2017 earnings
• growth would come mostly from ONEOK's six -- count 'em, six -- natural gas processing plants connected in 2016, as well as from its Bear Creek plant in the Williston Basin and five third-party plants
• drilling activity in NGL-rich shale plays, especially Oklahoma's STACK and SCOOP; and, the Permian is expected to increase
• ONEOK also noted that it has agreed to acquire all of ONEOK Partners LP's outstanding common units it does not already own; deal worth slightly more than $9 billion

Two New Permits; No DUCs Reported As Completed -- February 8, 2017

Active rigs:

	2/8/2017	02/08/2016	02/08/2015	02/08/2014	02/08/2013
Active Rigs	37	42	136	192	185

Two wells coming off confidential list Thursday:

• 30509, conf, Hess, BB-Eide-151-95-3328H-1, Blue Buttes, no production data,
• 32765, SI/NC, SM Energy, Thompson Bros. Federal 2B-17HN, Burg, no production data,

Two new permits:

• Operator: BR
• Field: Dimmick Lake (McKenzie)
• Comments:

Dry hole:

• 29833, dry, EOG, Fertile 71-0905H, Parshall, if the reason was given in the file report I missed it; this well was initially shut-in/not completed; with a note that it would consider completing once commodity prices recovered; and then, a pressure check, all was well; and, then a note to plug and abandon