Wells Coming Off The Confidential List This Next Week -- July 19, 2020

Monday, July 27, 2020: 67 for the month; 67 for the quarter, 513 for the year:
36631, conf, XTO, Tobacco Garden 21X-17D,
36492, conf, Hess, TI-Stenbak-158-95-2526H-6, 

Sunday, July 26, 20200: 65 for the month; 65 for the quarter, 511 for the year:
31523, conf, CLR, Steele Federal 9-24H, 

Saturday, July 25, 2020: 64 for the month; 64 for the quarter, 510 for the year:
36491, conf, Hess, TI-Stenbak-158-95-2526H-5, 

Friday, July 24, 2020: 63 for the month; 63 for the quarter, 509 for the year:
37069, conf, WPX, Wolverine 21-22HD,
35874, conf, Whiting, Fladeland 12-10HU, 
33425, conf, Sinclair Oil, Crosby Creek 6-5H, 

Thursday, July 23, 2020: 60 for the month; 60 for the quarter, 506 for the year:
37269, conf, CLR, Kate 14-19H1, 
37071, conf, WPX, Wolverine 21-22HC, 
37070, conf, WPX, Wolverine 21-22HZ, 
36790, conf, Sinclair Oil, Harris Federal 5-32H, 
36489, conf, Hess, TI-Stenbak-158-95-2526H-3, 

Wednesday, July 22, 2020: 55 for the month; 55 for the quarter, 501 for the year:
37072, conf, WPX, Wolverine 21-22HY, 
35914, conf, CLR, Wahpeton 16-16H1, 
35743, conf, Whiting, Ogden 14-3XH, 
35696, conf, Oasis, Joplin 5397 42-32 8T, 

Tuesday, July 21, 2020: 51 for the month; 51 for the quarter, 497 for the year:
37268, conf, CLR, Kate 15-19HSL,

Monday, July 20, 2020: 50 for the month; 50 for the quarter, 496 for the year:
35912, conf, CLR, Jamestown Federal 14-17HSL1, 
35695, conf, Oasis, Joplin 5397 42-32 7B, 

Sunday, July 19, 2020: 48 for the month; 48 for the quarter, 494 for the year:
37267, conf, CLR, Rodney 4-20HSL1,

Saturday, July 18, 2020: 47 for the month; 47 for the quarter, 493 for the year:
None.

Cocoa Futures Tank -- July 19, 2020

Re-posting from July 1, 2020:

When there was a toilet paper shortage and a rumor there would be a beef / chicken shortage, I noted large bins of Hershey's chocolate syrup in our neighborhood store. I commented on that to my wife, but not sure if I posted it on the blog. I don't thing I did. The amount of Hershey's chocolate syrup was incredible, actually sitting on pallets inside the store. We thought it was due to Hershey's anticipating more stay-at-home sundaes. Well, now we know the rest of the story. Link here.

Cocao futures hit one-year low as pandemic wrecks global consumption.

Cocoa futures are a proxy of economic activity among consumers. Chocolate companies suffered steep declines in sales as lockdowns closed restaurants, resorts, movie theaters, concerts, and other forms of entertainment. Consumers across the world have been crushed by lockdowns, unlikely to spend money at 2019 levels. Days ago, we outlined similar bearish fundamentals playing out in coffee markets, sending spot prices to 15-year lows.

Update: from ZeroHedge, July 19, 2020: cocoa prices hit two-year low as chocolate consumption falters. Tyler says Americans are not in a celebratory mood. Not! This is all about restaurants being shut down. From the linked story:

Swiss chocolate maker Barry Callebaut reported last week a 14.3% decline in last quarter sales as volumes sold to retail clients were halved.

ICE Europe cocoa futures plunged into a bear market in early July with prices down 24% in 22 weeks. The plunge in prices started around the time the pandemic began (late January/early February).

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Erasing The Native American

Mutual of Omaha to retire its corporate logo. Link here. Native American headdress coming down faster than Confederate statues.

A CLR Well Trending Toward 500K Bbls Crude Oil With Recent Jump In Production -- July 18, 2020

This page will not be updated.

The CLR Sorenson wells in Alkali Creek are tracked here.

This well will likely go over 500K bbls crude oil by the end of this year. Note its recent jump in production. In addition, it's one of the few wells that was not taken off line in May, 2020, during the "melt down of 2020."

The well:

• 22619, 781, CLR, Sorenson 2-21AH, Alkali Creek, t2/13; cum 468K 5/20; note jump in production one year ago.

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	5-2020	31	7477	7493	4865	10629	10125	85
BAKKEN	4-2020	14	3204	2974	2506	3649	3482	0
BAKKEN	3-2020	20	4526	4764	2934	6276	4623	1392
BAKKEN	2-2020	29	7080	7053	5082	9381	8811	180
BAKKEN	1-2020	31	7578	7822	5794	10607	10215	0
BAKKEN	12-2019	31	10275	10308	8856	13864	12357	1090
BAKKEN	11-2019	23	5577	5279	5571	6679	5109	1305
BAKKEN	10-2019	31	5793	5762	4521	7935	2644	4873
BAKKEN	9-2019	30	6782	7018	6168	10398	919	9074
BAKKEN	8-2019	31	8439	8305	7997	12870	1334	11117
BAKKEN	7-2019	31	9426	9472	10208	9895	406	9073
BAKKEN	6-2019	30	9358	9422	11396	9315	312	8600
BAKKEN	5-2019	31	11632	11572	13985	13155	5487	7250
BAKKEN	4-2019	29	9156	8858	9439	11140	4266	6511
BAKKEN	3-2019	2	27	0	287	1	0	0
BAKKEN	2-2019	0	0	0	0	0	0	0
BAKKEN	1-2019	29	2234	2394	780	5612	4802	460
BAKKEN	12-2018	31	2630	2713	835	6041	4248	1380
BAKKEN	11-2018	30	2594	2600	857	6475	5295	775
BAKKEN	10-2018	31	2693	2619	907	6001	2176	3412

The Long X Bridge Update -- July 18, 2020

From Geoff Simon's top North Dakota stories:

By the way, flashback to the Lewis and Clark bridge southwest of Williston:

Update: The Debacle Formerly Known As The Bullet Train -- July 18, 2020

Updates

Later, 8:39 p.m. CDT: this is the reason Governor Newsom is playing games with the federal government, maintaining that the state is still building a high-speed rail, even if it only goes from Bakersfield to Merced.  With the California legislature again holding up funding for the bullet train, the federal government may act again.

Original Post

This story is traced at "Bullet Train Central."

What are they thinking? Putting all of the remaining bullet train funds into the single stretch of high speed rail between Bakersfield and Merced. Really?

Re-posting with some additional "stuff."

Which reminds me: what's the status of the California debacle previously known as the bullet train? From the LA Times: California high-speed rail board delays key finance plan after lawmakers push back.

Following a stunning rebuke by the State Assembly, the board of California’s high-speed rail authority this week put off approving a crucial 2020 business plan, a sign it has agreed to reassess the project’s current blueprint.

The authority’s board had planned to routinely approve the business plan at a meeting scheduled for Thursday and submit it to the Legislature as it has done every two years over the last decade.

The plan formally laid out a $20.4 billion blueprint to build a partial operating system in the San Joaquin Valley under a massive 30-year contract that would be issued this year.

But earlier this month, the Assembly approved a resolution that called on the rail authority to delay that contract and reassess the entire strategy of putting all of the remaining bullet train funds into the single stretch of high speed rail between Bakersfield and Merced.

Do You Know The Way to San Jose, Dionne Warwick

From the San Francisco Chronicle:

Even before the coronavirus pandemic, it wasn’t clear how California would pay for its dream of running 220-mph bullet trains from San Francisco to Los Angeles.

Now, the project is as close to the precipice as it’s ever been. The California High-Speed Rail Authority faces two new threats: Its largest source of funding is evaporating and state legislators have attempted to derail the agency’s plans en masse.

The culmination of woes has cast new doubt on the viability of the rail plan and Gov. Gavin Newsom’s strategy to focus on building the system’s Central Valley segment first. [WHY?]

“The way this project has been managed is embarrassing, to say the least,” Assemblyman Jim Frazier, a North Bay Democrat who chairs the Transportation Committee, told legislators during a June 11 vote to challenge the plan.

“It is an unelected body, which has taken little input from us, obliging us to vote for dollars that will continue to dog us for the next 30 years,” said Rendon, a Democrat from Lakewood (Los Angeles County).

But the authority plans to push ahead this fall with awarding those contracts, including a 30-year maintenance deal. It will ask legislators to approve $4.2 billion in funding, the remainder of its voter-approved bonds, early next year.

A 30-year maintenance deal for an unfinished project? Only in California.