Market:
- FedEx: huge beat; FDX up $19; up 8%;
- Rivian: loss of $12 / share; commits to second factory in Georgia; $5 billion plant; after reporting dropped another $4 / share after hour, after dropping $6 at the close; down 10% for the day (with after-market trading)
- EV reservations jump almost 30% from 50,000 to 80,000
- fell short of its 2021 production target of 1,200 vehicles
- 3Q21:
- operational loss of $775 million vs company's forecast of $745 million - $795 million;
- net loss of $1.23 billion vs forecast between $1.21 billion and $1.28 billion
- revenue: $1 million (market cap: $96 billion)
- Kellogg: company and union reach tentative agreement; average pay for union worker: $120,000 / year;
Melissa: "Fast Money"
- AAPL headed toward $157; if so, that would be a buying point, again
- at least one trader/talking head seems anxious, angry, almost scared
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Back to the Bakken
Active rigs: estimate only; based on NDIC end-of-day reporting; NDIC reports 32 active rigs, but one is a SWD rig; I did not check for duplicates:
| $72.38 | 12/16/2021 | 12/16/2020 | 12/16/2019 | 12/16/2018 | 12/16/2017 |
|---|
| Active Rigs | 31 | 14 | 53 | 67 | 53 |
Two new permits, #38702 - #38704, inclusive:
- Operator: MRO
- Field: Bailey (Dunn County)
- Comments:
- MRO has permits for a Claude well and a Vernon well, both in NENE 30-146-93,
- to be sited 505 FNL and between 663 FEL and 703 FEL;
Twelve permits renewed:
- MRO (7): all in Dunn County, but different pads, Alvina USA, Whitney USA, Reems USA, Millie USA, Pavlish USA, Terrel USA, and TR USA;
- Hess (5): three AN-Double Bar V permits and two AN-Lone Tree permits, all in McKenzie County;
Seven DUCs reported as completed:
- 37379, 1,220, CLR, Rodney 8-29H1, Cedar Coulee, first production, --; t--; cum--;
- 38269, 949, CLR, Jenson 9-8H1, Chimney Butte, first production, --; t--; cum--;
- 37410, 1,387, CLR, Rodney 12-29H, Cedar Coulee, first production, --; t--; cum--;
- 37402, 1,405, CLR, Gale 11-32H, Cedar Coulee, first production, --; t--; cum--;
- 38268, 1,438, CLR, Jenson 8-8HSL, Chimney Butte, first production, --; t--; cum--;
- 37375, 1,910, CLR, Gale 7-32H, Cedar Coulee, first production, --; t--; cum--;
- 37401, 1,062, CLR, Gale 10-32H1, Cedar Coulee, first production, --; t--; cum--;
The Gene/Rodney wells are tracked here. I will update that site later.
I don't have a page for the Jenson wells but perhaps I may do that later.
The comments I made regarding CLR and DUCs yesterday continue to hold true today.
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MRO, Bailey Oil Field
And The Two Permits (see above)
The Bailey oil field is tracked here but has not been updated in a long time. It will be interesting to see the update. LOL.
Assuming the new wells, Claude and Vernon run south, there are already three active wells in that drilling unit:
- 17255, original well drilled in 2008, thirteen years ago; and re-fracked in 2017, four years ago:
- 465, MRO, Pelton 24-31H, t9/08;
- 1,799, MRO, Pelton-24-31H, t4/17; cum 562K 10/21;
- the well has produced 561,590 bbls of crude oil since it was first drilled;
- before the re-frack the well had produced 179,311 bbls of crude oil (over a period of 103 months;
- after the re-frack the well produced 382,279 bbls of crude oil (over a period of 55 months)
- after the well was re-fracked, it produced about twice as much oil in half the time that it produced prior to the re-frack
| BAKKEN | 7-2017 | 31 | 25626 | 25591 | 25477 | 18929 | 1475 | 14540 |
| BAKKEN | 6-2017 | 24 | 18177 | 18187 | 19613 | 13250 | 3910 | 7265 |
| BAKKEN | 5-2017 | 31 | 23337 | 23366 | 28948 | 17072 | 10811 | 3582 |
| BAKKEN | 4-2017 | 7 | 8727 | 8599 | 215 | 6256 | 1976 | 3308 |
| BAKKEN | 3-2017 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 2-2017 | 8 | 202 | 184 | 40 | 163 | 93 | 4 |
| BAKKEN | 1-2017 | 31 | 896 | 875 | 207 | 688 | 317 | 96 |
| BAKKEN | 12-2016 | 29 | 771 | 756 | 187 | 608 | 347 | 11 |
| BAKKEN | 11-2016 | 30 | 834 | 865 | 192 | 643 | 365 | 9 |
| BAKKEN | 10-2016 | 31 | 863 | 842 | 206 | 681 | 402 | 1 |
- 22332, 1,318, MRO, RH 34-31H, t9/12; cum 313K 10/21;
- 22333, 1,086, MRO, RH 34-31TFH, t9/12; cum 210K 10/21;
