"Return to black" is tracked here. "Return to black" is my way of tracking Oasis' transformation in 2021.
Just before the press release was released, before the market closed yesterday, Oasis was up 2%.
Now, today, Oasis is up another 4.14%; up $3.32; trading at $83.32.
I think someone said Oasis shares doubled in price this past year. I don't know; haven't checked.
But it's obvious, Oasis investors are eager to put the Permian play behind them.
See this post from September 8, 2011, regarding the "eastern fringe of the Bakken."
The well:
Production:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 3-2021 | 31 | 16586 | 16581 | 51793 | 9843 | 7863 | 781 |
| BAKKEN | 2-2021 | 28 | 17825 | 17782 | 54763 | 10259 | 8233 | 757 |
| BAKKEN | 1-2021 | 31 | 23520 | 23558 | 63257 | 12666 | 9800 | 1224 |
| BAKKEN | 12-2020 | 29 | 24434 | 24250 | 70645 | 12632 | 9333 | 1600 |
| BAKKEN | 11-2020 | 9 | 15588 | 15459 | 53262 | 7117 | 5275 | 779 |
The graphic:
From an earlier post:
The "Klovstad" pad: K-R-W. This pad is clearly on the fringe of the Bakken. It will be interesting if this measures up to other pads in the Bailey oil field.
Today, the Klovstad well came off the confidential list:
Production:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 3-2021 | 31 | 15935 | 15922 | 51372 | 9373 | 7472 | 750 |
| BAKKEN | 2-2021 | 28 | 16654 | 16590 | 52575 | 9512 | 7624 | 703 |
| BAKKEN | 1-2021 | 31 | 19921 | 19943 | 70717 | 11608 | 9047 | 1160 |
| BAKKEN | 12-2020 | 30 | 19922 | 19802 | 65070 | 10867 | 8082 | 1392 |
| BAKKEN | 11-2020 | 12 | 16341 | 16206 | 53818 | 8410 | 6215 | 1072 |
Brent-70: the new meme --
Strong demand for Canadian heavy oil:
****************************
Back to the Bakken
Active rigs: increased by one overnight, but the 20th rig is drilling a SWD:
| $63.71 | 5/21/2021 | 05/21/2020 | 05/21/2019 | 05/21/2018 | 05/21/2017 |
|---|---|---|---|---|---|
| Active Rigs | 20 | 14 | 66 | 61 | 51 |
Operators with active rigs:
Two wells coming off the confidential list -- Friday, May 21, 2021:
RBN Energy: Last of the first oil tankers.
Today is a sad day for the world of oil tankers. Unless a miracle happens by 10 a.m. local time at the Hawaii Department of Transportation's Harbors Division, the last surviving iron-hulled, sail-driven oil tanker is headed to Davy Jones’ Locker. The once-proud, four-masted, 143-year-old windjammer will soon be scuttled by deliberately sinking her at sea off the shores of Honolulu. How could things have come to this? In today’s blog, we’ll take a trip down memory lane to explore how a spectacular, fully rigged oil tanker could have survived for so long, plying the oceans for this author’s former employer, only to be betrayed in her final years.
From the linked article:
The North Dakota Supreme Court said on Thursday that contractual language commonly used in the state to calculate royalties that landowners pocket requires oil producers to pay values determined at the well, rather than higher ones as the oil gets closer to markets.
The opinion by a divided panel is in response to a certified question by a North Dakota federal court to clarify a gray area in state law, which should in turn enable rulings on more than half a dozen related putative class-action lawsuits by property owners who allege oil companies have underpaid them royalties. The Supreme Court said that its determination that royalties are calculated at the well, rather than downstream, may result in the dismissal of the class actions.