WPX's Peterson Wells, Van Hook Oil Field, Now Completed -- March 31, 2017

The wells:

• 31174, 1,027, WPX, Peterson 6-5-4 HZL, Van Hook, Three Forks, 61 stages, 25,570 feet TD; 14-foot seam; , lateral began on December 25, 2015; and TD reached January 3, 2016; low gas, with a peak of 569 units; t8/16; cum 120K 2/17
• 31173, 829, WPX, Peterson 6-5-4 HD, Van Hook, middle Bakken, 59 stages, , t8/16; cum 93K 2/17;
• 31172, 1,763, WPX, Peterson 6-5-4 HQ, Van Hook, Three Forks, 61 stages, t10/16; cum 97K 2/17; 
• 31171, 1,657, WPX, Peterson 6-5-4- HC, Van Hook, middle Bakken, 61 stages, t8/16; cum 96K 2/17;

Whiting: Comparing Redtail Niobara With The Bakken -- Seeking Alpha -- March 31, 2017

Link here.

Archived.

A reader sent me the link (a huge "thank you"). A quick e-mail reply after quickly reading the article:

These analysts really do a great job trying to sort this stuff out. Even with all the time I've spent on the Bakken, I've never been able to figure out the investment side.

I'll have to read this article several times -- it seems to be one of the better ones -- to really understand it.

I'm always "humbled" when I see an article like this -- there is just so much to cover, so much to learn.

It's interesting how big an effect the DAPL might have on these companies.

If the DAPL really does make that big a difference in the Bakken (profitability and production), everyone in ND should be even more upset how long it took to get this "relatively" simple project completed.

Week 13: March 26, 2017 -- April 1, 2017

It was a fairly quiet week in the big scheme of things. The price of oil trended down early in the week but by Friday was back up to $50.

Now that oil is "under the river" in the DAPL pipeline (whether it is flowing is another story), the company is no longer required to provide weekly updates to the court. If everything goes smoothly we won't hear much about the daily flow, but hopefully we will get updates in the NDIC Director's monthly "Director's Cut."

There were a lot of posts about Slawson and the number of wells it will drill in 640-acre and 1280-acre spacing units. Every year, in my annual top stories of the year, I name the Bakken operator that I found "most interesting" for the year. Right now, Slawson is easily winning in that category.

At the national level, economically, things look quite exciting, but that is not yet reflected in objective data, like project GDP growth.

National, miscellaneous
Consumer confidence, strongest level measured in decades
US energy production falls for first time since 2009

Operations
Whiting reports another great Rolla Federal well
Oasis: 90 wells in small area in northeast McKenzie County
Oasis to drill as many as 30 wells in one 640-acre unit 
Oasis: another 18 wells in a drilling unit with seven long laterals
EOR pilot, Madison pool, Samson Oil and Gas
Hess transfers nine (9) wells in Divide County to Crescent Point
Random update of an area of interest in Charbonneau oil field
Skarston wells off-line again; no explanation

Pipelines
Oil in DAPL pipeline segment that is under the lake/river
ND active rig count jumps 40% after President Trump approves DAPL 

Fracking
Production jumps 13-fold in an old BR well in North Fork oil field 
Two Haystack Butte wells with interesting production profiles 
Is the Elidah oil field telling us something?
Two Petro-Hunt Charlson oil field wells finally completely; 50 stages but only 5 million lbs each

DUCs
EOG reports eight (8) completed DUCs -- all unremarkable 

Bakken economy
Contractor named for new Williston airport

Commentary
Connecting the dots: Keystone, Canadian oil sands, heavy oil, light oil 
Why Midwest refiners chose to pass up local Bakken bounty

 

Seventeen Permits Renewed -- March 31, 2017

Active rigs:

	3/31/2017	03/31/2016	03/31/2015	03/31/2014	03/31/2013
Active Rigs	50	30	99	194	188

Four (4) new permits:

• Operator: Enerplus
• Field: Antelope (McKenzie)
• Comments:

Seventeen (17) permits renewed:

• CLR (13): thirteen Jersey and Jersey Federal permits in Mountrail County
• BR (3): two Gudmunson and one Gudcadia permit, in McKenzie County
• Petro-Hunt: one Clark Griswold Federal permit in McKenzie County

Three (3) permits canceled:

• WPX (3): three Caribou permits in Dunn County
• NDIC, May 24, 2017 -- this was an error; DUCs reported as completed;

One well recompleted:

• 19947, Trendwell Energy, Matter State 3-17H, 

North Dakota 2016 Taxable Sales And Purchases

North Dakota 2016 Taxable Sales and Purchases.