Bakken Podcast Link -- May, 2019, North Dakota Production

A reader provided a link to a podcast that was produced before the release of today's Director's Cut but is still relevant (perhaps more relevant), see comment below:  https://twitter.com/RTDukes/status/1144670377597112321.

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If Beto Were A Singer From Wales

Delilah, Tom Jones

Norwegian Ice-Breaker Unable To Get To North Pole -- Arctic Ice Thicker Than Expected -- July 16, 2019

Link here.

15 July 2019 – The Norwegian icebreaker “Kronprins Haakon” (Crown Prince Haakon), on a mission to the North Pole for the Institute of Marine Research, was forced to turn back north of Svalbard after meeting considerably thicker and more massive ice masses than expected, which the vessel was not capable of breaking through.

Tesla. On a completely different note, to expand on the earlier note today regarding Tesla. I think it was pretty obvious in that note, but to be very explicit about this: if Tesla as an automobile company fails, I think folks will look back on his decision to concentrate on sedans first as his big failure. Granted, he had plenty of interest, over-subscribed demand, and demand he could not meet, but that was short term. Long term focusing on sedans will be seen as a mistake. Model X, a crossover, was too little (literally) too late. He needs cash now to keep going and SUVs are high margin, and in huge demand. The fact that he is now cutting the price of sedans suggests he can now meet demand, but folks are not interested in sedans any more. Look at the monthly automobile sales figures.

Tesla. On another note, something we talked about a long time ago, Tesla is not an automobile company. It is a battery company disguised as an automobile company. He is using automobiles as a "vehicle" to sell batteries. We will see more of that in the future. Tesla batteries used outside of automobiles, and when used in automobiles, used by other manufacturers.

DAPL? Protesting the DAPL? Think again. Link here. A reader noted that the "Protect" signs were also used at Standing Rock. Nice to see that protesters are into recycling. LOL. By the way, George Soros is in the back row, fourth from the left.

Flaring In The Bakken -- May, 2019, Data

See comments below. Reader provides link to podcast regarding the Bakken:  https://twitter.com/RTDukes/status/1144670377597112321.

From the Director's Cut for May, 2019, flaring:

• with natural gas at $1.95 / mcf, the oil-to-gas price ratio at Watford City, ND, is 25 to 1
• statewide gas flared volume decreased 15,700 mcfpd month-over-month
• produced, April, 2019: 2,833,131 mcfpd
• produced, May, 2019: 87,471844 mcf for the month
• produced, May, 2019: 2,821,672 mcf/day
• 15,700  / 2,833,131 = 0.554% or about half a percent
• capture rate:
• statewide capture: 81%
• non-FBIR Bakken: 85%
• FBIR Bakken: 69%
• goals: a capture rate of 88%

Glad to see the BLM all over this one.

I have no idea what the "new rules" regarding flaring are but if interested, there is a tag, flaring_new rules.

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Working On Her Multiplication Tables

Turned five years old about two weeks ago.

Marketing 101 -- Nothing About The Bakken -- July 16, 2019

Marketing 101: how one company blew it. Nike would have had a slash on that sole. IBM should have had its logo on the bottom of that shoe. There were many ways to have done this.

On second thought: IBM, stripes? Maybe.

Saudi To Pay US For Protection? This is pretty funny. Trump is getting Mideast countries to  start paying for US "protection." LOL.

Five New Permits In The Bakken -- July 16, 2019

WTI: slumps. Tension in the Mideast dries up; Barry is a non-story.

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Back to the Bakken

Active rigs:

$58.02	7/16/2019	07/16/2018	07/16/2017	07/16/2016	07/16/2015
Active Rigs	56	69	58	29	74

Six new permits: #36738 - #36743, inclusive:

• Operators: XTO (3), Lime Rock (2), Iron Oil Operating
• Fields: North Fork (McKenzie), Fayette (Dunn), Ellsworth (McKenzie)
• Comments:
• XTO has permits for a 3-well Edwards Trust pad in section 19-149-97, North Fork oil field; 
• Lime Rock Resources III-A has permits for a 2-well Reube Schneider pad in section 27-143-96, Fayette oil field
• Iron Ore has a permit for an Ellsworth permit in lot 3 / section 3-148-101, Ellsworth oil field;

Five producing wells (DUCs) reported as completed:

• 35463, 602, Whiting, Urban 44-11-6H, East Fork, t6/19; cum --;
• 35458, 1,051, Whiting, Urban 44-11-3TFH, East Fork, t6/19; cum --;
• 31563, 1,137, Slawson, Submariner Federal 5-23-20TFH, Big Bend, t6/19; cum --;
• 31562, 2,514, Slawson, Submariner Federal 3-23-20H, Big Bend, t6/19; cum --;
• 31561, 2,175, Slawson Submariner Federal 6-23-20TFH, Big Bend, t6/19; cum 7K over 9 days;

Nine permits renewed:

• Hess (4): four LK-Quilliam permits in Dunn County
• XTO (3): three Harley Federal permits in McKenzie County
• Resource Energy: one Curtis permit in Divide County
• Whiting: one Wright permit in McKenzie County