Clean Sweep
Friday, June 8, 2018
The Market, Energy, And Political Page, T+8 -- Apparently No One Can Count To Nine, June 8, 2018; The New Bogeyman
Updates
June 10, 2018:
June 10, 2018:
Original Post
Follow the money: Isn't this an interesting game the oil companies play -- this would be like Coca-Cola buying up all the soft-drink shelf space in your local grocery store, stocking only half the shelf-space, and letting the rest sit empty. From Bloomberg via Rigzone --
Enbridge Inc.’s decision to implement and then scrap new rules governing Canada’s biggest export pipeline system sent crude prices on a record roller coaster move this week, earning the pipeline operator both friends and enemies.
BP filed a complaint this week with Canada’s National Energy Board saying Enbridge used an “unreasonable exercise of discretion” when it announced and then, 11 days later, canceled new rules governing the amount of oil that shippers were allowed to send through its Mainline system.
Heavy Western Canadian Select crude prices surged by a record $12.20 a barrel relative to U.S. benchmark West Texas Intermediate futures Monday after Enbridge scrapped the rule, which was designed to stop shippers from claiming more space than they needed on the pipeline.
Space on the system, the largest link between Alberta’s oil sands and U.S. refineries, has been increasingly rationed, as crude production overwhelmed capacity.
Prices had sunk $8.75 a barrel relative to WTI in the days after the new rules were announced on May 24.
Suncor Energy Inc. and Canadian Natural Resources Ltd, two of Canada’s biggest oil sands producers, welcomed Enbridge’s reversal, saying the existing rules better ensure producers receive a fairer price for their oil.Summits: The real question is this: is the G7 even relevant any more? If it is, how relevant is it? The goal, apparently, of the G7 has been to issue some kind of joint statement that a bunch of Euro-centric, mostly elderly males can agree upon. Not only boring, but pretty lame, .... it just struck me, when President Trump said the summit with KJU would not be a "photo-op," my hunch is that is exactly what he was thinking the G7 in Quebec is -- a photo-op. For his "allies."
It's a hoot that Trump scheduled the KJU summit so closely following the G7 conference which pre-ordained his need to leave early. Brilliant. Something tells me he never looked forward to this meeting in Quebec in the first place ... exactly what it its purpose? ... and thus, why not throw a little "red meat" to the journalists: suggest that Russia needs to be re-admitted (another Euro-centric elderly male would fit right in) and skip the global warming conference altogether.
The G7 is made up of "the seven largest economies" plus the European Union, so in effect, France, Germany, Italy, the UK (for a bit longer) get two votes, and the EU gets about six votes (the four heads of state, plus the President of the European Council and the President of the European Commission. Poor Abe -- one vote. Trump -- one vote. Merkel, Macron, Conte, May -- each three votes (each with his/her own vote and two votes from the EU). Maybe the EU doesn't get to vote, but they get two seats at the table.
Largest economies: see wiki re: the G7.
List of countries by GDP. France and Canada don't even make the list, and if you had a cut-off, of say USD$4 trillion, not one European country would be attending.
The new meme: any sector that dies was killed by Trump's tariffs. The new bogeyman.
Brilliant. How come the brightest president in modern history -- that would be Barack Obama, of course -- did not think of this. [Yes, there were no kneeling NFL players during the Obama administration but I'm sure there were some grievances.] Absolutely brilliant. Maybe one of the kneeling NFL football players will actually visit the Oval Office to argue his case.
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House of Cards
Update, June 10, 2018: amazing. The Chicago Tribune actually picked up this story. And "blogger" will link The Chicago Tribune even if it won't link Fox News. It will be interesting to see if either The New York Times or The Washington Post posts the story.
Original Post
I don't know if anyone is following this story or if anyone even cares, but this "factual" story being reported over at Fox News was the very story line during the first season of House of Cards. Truly amazing. The google app "blogger" won't allow linking Fox News stories but one can get to the story by googling: "New York Times reporter Ali Watkins' past tweets are raising eyebrows after revelations she had a three-year romantic relationship with a Senate Intelligence Committee aide now accused by federal prosecutors of leaking sensitive information to journalists, including herself."
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More From G7
Three New Permits ... And That Was All Today -- June 8, 2018
Active rigs:
Three new permits:
| $65.74→ | 6/8/2018 | 06/08/2017 | 06/08/2016 | 06/08/2015 | 06/08/2014 |
|---|---|---|---|---|---|
| Active Rigs | 61 | 52 | 26 | 82 | 194 |
Three new permits:
- Operators: Petroshale (2); Petro-Hunt
- Fields: Mandaree (Dunn); Mondak (McKenzie)
- Comments:
Two Huge Stories From Geoff Simon For The Past Week In The Bakken -- June 8, 2018
Maybe more on these two stories later. First:
And then this one:
During the selection process for "Williston City Administration," I said the choice was a no-brainer.
And then this one:
During the selection process for "Williston City Administration," I said the choice was a no-brainer.
Updating A CLR 2560-Acre Drilling Unit In Elm Tree; CLR's Bohmbach / Antelope Wells In Elm Field -- June 8, 2018
I am updating this post from 2016. Compare the graphic at that post with these graphics of the 2560-acre stand-up drilling unit, four miles long x 1 mile wide.
Note: I did not check the spacing for any of the wells listed on this page.
Elm Tree oil field is tracked here but has not been updated in quite some time.
This page may not include all of CLR's Bohmbach / Antelope wells in the Elm Tree oil field.
The graphics.
First the entire drilling unit:
Zooming in on the pads in that drilling unit:
The second one:
The ten wells in that graphic:
The two wells to the north of the ten-well pad:
The wells in this graphic:
Note: I did not check the spacing for any of the wells listed on this page.
Elm Tree oil field is tracked here but has not been updated in quite some time.
This page may not include all of CLR's Bohmbach / Antelope wells in the Elm Tree oil field.
The graphics.
First the entire drilling unit:
Zooming in on the pads in that drilling unit:
The second one:
The ten wells in that graphic:
- 32358, 144, CLR, Antelope Federal 5-23H, Elm Tree, 4 sections, t9/18; cum 138K 3/20; 5 days of production in 8/18; none since, 8/18; back on line 9/18; cum 181K 8/21; cum 197K 6/22;
- 32359, 1,335, CLR, Antelope Federal 6-23H1, Elm Tree, 4 sections, t1/19; cum 306K 3/20; producing as of 12/18; cum 445K 8/21; cum 496K 6/22; production update here.
- 32360, 1,912, CLR, Antelope Federal 7-23H, Elm Tree, 4 sections, t 9/18; cum 207K 3/20; 6 days of production in 5/18; none since, 8/18; on line of 9/18; monster well; off line for a month, 1/20; cum 260K 8/21; cum 278K 6/22;
- 32361,1,200, CLR, Antelope Federal 6-23H2, Elm Tree, 4 sections, t9/18; cum 273K 10/19; ditto; a monster well; off line 10/19; remains off line 3/20; back on line 9/20; cum 394K 8/21; cum 468K 6/22; production update here.
- 32152, dry, CLR, Bohmbach 5PA, Elm Tree, t --; cum --
- 32153, 1,391, CLR, Bohmbach 5A-26H2, Elm Tree, 4 sections, t9/18; cum 251K 3/20; ditto; another huge well;cum 314K 8/21; cum 336K 6/22;
- 32154, 2,506, CLR, Bohmbach 6A-26, Elm Tree, 4 sections, t9/18; cum 189K 3/20; ditto; another monster well; cum 232K 8/21; cum 264K 6/22;
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 12-2018 19 15406 15304 8346 29628 28509 962 BAKKEN 11-2018 30 31957 31938 15437 58896 53450 5177 BAKKEN 10-2018 31 33260 33426 17533 60145 31168 28678 BAKKEN 9-2018 26 39892 39548 19669 63831 51570 11948 BAKKEN 8-2018 0 0 0 0 0 0 0 - 32155, 1,883, CLR, Bohmbach 7-26H, Elm Tree, t9/18; cum 270K 12/19; ditto;
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 12-2018 25 22053 21825 13765 44974 43276 1460 BAKKEN 11-2018 30 32659 32657 17544 63319 57464 5566 BAKKEN 10-2018 31 37247 37374 22519 60965 31593 29069 BAKKEN 9-2018 26 37758 37432 20018 59606 48156 11157 BAKKEN 8-2018 0 0 0 0 0 0 0 - 32362, TASC, CLR, Bohmbach 8-26HS, Elm Tree, t --; cum --
- 33700, 1,392, CLR, Bohmbach 14A-26H2, Elm Tree, t9/18; cum 294K 1/20; ditto;
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 12-2018 10 6824 6876 7133 12138 11680 394 BAKKEN 11-2018 30 30041 30016 26722 53418 48479 4695 BAKKEN 10-2018 31 29812 29876 31584 52458 27184 25013 BAKKEN 9-2018 23 26004 25780 27821 43115 34833 8070 BAKKEN 8-2018 0 0 0 0 0 0 0
The two wells to the north of the ten-well pad:
- 22820, 1,240, CLR, Antelope 1-23H2, Elm Tree, t12/14; cum 575K 3/20; off line as of 8/18; an excellent well from the very beginning; huge jump in production, 7/18; cum 625K 6/22;
- 22821, 1,299, CLR, Antelope 1-23H, Elm Tree, t12/14; cum 684K 3/20; off line as of 2/18; an excellent well from the very beginning; cum 780K 6/22;
The wells in this graphic:
- 21490, 736, CLR, Bohmbach 3-35H, Elm Tree, t7/12; cum 395K 11/19; huge jump 5/18; off line 11/19; remains off line 3/20; back on line; cum 411; 6/22;
- 21488, 1,357, CLR, Antelope 3-23H, Elm Tree, t8/12; cum 698K 11/19; huge jump 5/18; multiple jumps in production; was taken off line 11/19; but returned to production late 2/20; too early to say if any jump in production; cum 741K 6/22;
- 21491, 835, CLR, Bohmbach 4-35H, Elm Tree, t7/12; cum 204K 11/19; back on status, 5/18; off line 11/19; remains off line 3/20; back on line; cum 228K 6/22;
- 21489, 823, CLR, Antelope 4-23H, Elm Tree, t8/12; cum 475K 11/19; a small jump when back on line 5/18; off line 11/19; remains off line 3/20; back on line; cum 488K 6/22;
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