Wednesday, March 29, 2023

Polestar, Hudson Yards, And The Vessel -- March 29, 2023

Reminder: Timberwolves vs Suns tonight, on NBC, 9:00 p.m. ET (?). Kevin Durant back after 10 missed games. 

Six links; too tired to do anything more with them, but want to clear out my in-box.




AMC / Amazon: link here.
  • AMC shares: surged at the open, but closed minus 3% for the day; down 15 cents; trading at $5.00.
  • so much for that rumor. 

Huge story:

For North Dakota Snowbirds Currently In Phoenix: Global Warming Smacks Bismarck; Nine New Permits -- March 29, 2023

WTI closes just below $73. How did the equity markets do?

Holy mackerel, not on my bingo card today:

  • Dow up 323 points.
  • NASDAQ: up 210 points.
  • S&P 500: up 56 points.
    • CVX: up $1.37; up 0.9%; trading at $160.86.
    • COP: up $1.82; up 1.9%; trading at $99.75.
    • PSX: up $1.50; up 1.5%; trading at $100.28.
    • PXD: up $4.51; up 2.3%; trading at $202.28.
    • DVN: up $1.22; up 2.5%; trading at $49.79.
    • HES: up $3.4; up 2.6%; trading at $133.
    • EOG: up $2.27; up 2%; trading $112.68.
    • ENB: up $1.10; up 3%; trading at $37.82.
    • EPD: up 16 cents; up 0.6% trading at $25.59.
    • SRE: this $124 stock up $3.00; up 2%; trading at $148.45.
    • AAPL: up $31.2; up 2%; trading at $160.77.
    • TSM: up $1.95; up 2%; trading at $92.76.
    • RIVN: up $1.28; up 10%; trading at $14.24.
    • F: up 45 cents; up 4%; trading at $12.05.

From The Bismarck Tribune:

Cold weather that blanketed North Dakota early Wednesday set a record in Bismarck.

The overnight low plunged to minus 13 degrees, breaking the previous mark for the date of minus 7 degrees set in 1964, according to the National Weather Service. Normal for March 29 is a low of 24 degrees above zero.

Overnight temps plummeted as low as minus 20 degrees in Oakes and Rugby, according to the weather service. Linton had minus 18, and Steele and Glen Ullin minus 15.

*****************************
Back to the Bakken

Active rigs: 45.

WTI: $72.79.

Natural gas: $1.991.

Nine new permits, #39763 - #39771, inclusive:

  • Operators: WPX (5); Marathon (4)
  • Fields: Heart Butte (Dunn County); Lake Ilo (Dunn County); Bailey (Dunn County)
  • Comments:
    • WPX has permits for five Sarah Yellow Wolf wells, NENW 22-149-91; 
      • to be sited between 916 FNL and 818 FNL and between 2293 FWL and 2407 FWL;
    • MRO has permits for the following four wells -- Quincy, Middleton, Ebetoft, and Beverly, NWNE 18-145-93; 
      • to be sited 432 FNL and between 1470 FEL and 1590 FEL.

Hearing Dockets -- April, 2023

Link here

The NDIC hearing dockets are tracked here.  

The usual disclaimer applies. As usual this is done very quickly and using shorthand for my benefit. There will be factual and typographical errors on this page. Do not quote me on any of this. It's for my personal use to help me better understand the Bakken. Do not read it. If you do happen to read it, do not make any investment, financial, job, relationship, or travel plans based on anything you read here or think you may have read here. If this stuff is important to you, and I doubt that it is, but if it is, go to the source.

See also cases of interest here.

Wednesday.
April 23, 2023
16 pages

These are cases, not permits. 

  • 29951, NDIC, Squaw Gap Field, consider name change, McKenzie County.
  • 29952, NDIC, Charlson-Bakken, terminate a lease-linee 2560-acre unit; establish a laydown lease-line 1280-acre unit.
  • 29953, Hess, Stanley and/or Alger-Bakken, 2 x 7 = 14 wells, establish two overlapping laydown 1920-acre units, section 1-155-92 and sections 5/6-155-91; and, section 12-155-92 and sections 7/8-155-91,  Mountrail County;
  • 29954, Hess, Stanley and/or Alger-Bakken, establish an overlapping 38440-acre unit, sections 1/12-155-92 and sections 5/6/7/8-155-91; one well, Mountrail.
  • 29955, Hess, Antelope-Sanish, establish an overlapping 2560-acre unit; sectiosn 12/13-152-95 and sections 7/18-152-94, one well, McKenzie County.
  • 29956, Hess, Manitou-Bakken, establish an overlapping 2560-acre unit, sections 2/3/10/11-155-94; one well, Mountrail.
  • 29957, Hess, casing on plugged and abandoned wells.
  • 29958, Neptune Operating LLC, Pronghorn-Bakken, establish two overlapping standup 1920-acre units, sections 5/8/17; and sections 20/29/32-150-101, two wells each unit; McKenzie County.
  • 29959, Oasis, Squires and/or Bull Butte-Bakken; i) establish two overlapping standup 1920-acre units, sections 17/20/29-156-102; and, section 32-156-102 and sections 5/8-155-102; three wells on each; ii) establish two overlapping 3840-acre units, sections 16/7/20/21/2829-156-102; and sections 32/33-156-102 and sections 4/5/8/9-155-102; one well on each, Willliams County.
  • 29960, Oasis, Tyrone-Bakken, i) establish three overlapping standup 1920-accre units; sections 12/13/24-156-102; sections 7/18/19-156-101; sections 8/17/20-156-101; three wells each; ii) establish one overlapping laydown 1920-acre unit, section 1-156-102 and sections 5/6-156-101; three wells; iii) establish two overlapping 3840 acre units, sections 12/13/24-156-102 and sections 7/18/19-156-101; and sections 7/8/1718/19/20-156-101; one well on each, Williams.
  • 29961, Ovintiv, Siverston, Tobacco Garden and/or South Tobacco Garden-Bakken; i) establish two overlapping 2560-acre units, sections 13/14/23/24; and sections 14/15/22/23-150-99; one well each; ii) establish three overlapping 2560-acre units, sections 1/2/11/12-150-99; sections 2/3/10/11-150-99, and sections 13/24-150-99, and sections 18/19-150-98, two wells on each; McKenzie.
  • 29962, Kraken, commingling,
  • 29963, Oasis, pooling,
  • 29964, Oasis, pooling,
  • 29965, Oasis, pooling,
  • 29966, Oasis, pooling,
  • 29967, Oasis, pooling,
  • 29968, Oasis, pooling,
  • 29969, Oasis, pooling,
  • 29970, Oasis, pooling,
  • 29971, Oasis, pooling,
  • 29972, Oasis, pooling,
  • 29973, Oasis, pooling,
  • 29974, Oasis, pooling,
  • 29975, Oasis, commingling,
  • 29976, Murex, commingling,
  • 29977, Murex, commingling,
  • 29978, Hess, commingling,
  • 29979, Hess, commingling,
  • 29980, Hess, commingling,
  • 29981, Hess, commingling,
  • 29982, Hess, pooling,
  • 29983, Hess, pooling,
  • 29984, Hess, pooling,
  • 29985, Hess, pooling,
  • 29986, Hess, pooling,
  • 29987, Whiting, pooling,
  • 29988, Whiting, pooling,
  • 29989, Whiting, pooling,
  • 29990, Whiting, pooling,
  • 29991, Whiting, pooling,
  • 29992, Whiting, pooling,
  • 29993, Ovintiv, commingling,
  • 29994, Ovintiv, Siverston-Bakken; fourteen wells on a 1280-acre unit, sections 13/24-150-99; McKenzie;
  • 29995, Ovintiv, South Tobacco Garden-Bakken, fourteen wells on a 1280-acre unit; sections 14/23-150-99; McKenzie; 
  • 29996, BR, commingling,
  • 29997, BR, commingling,
  • 29998, MRO, pooling;
  • 29999, MRO, commingling,
  • 30000, MRO, commingling,
  • 30001, Petro-Hunt, pooling,
  • 30002, Petro-Hunt, pooling,
  • 30003, Petro-Hunt, pooling,
  • 30004, Lime Rock, pooling,
  • 30005, Lime Rock, pooling,

Thursday.
April 27, 2023
13 pages

These are cases, not permits.

  • 30006, NDIC, Liberty Resources Management, termination / reduction of the Glass Bluff-Madison Unit, McKenzie and Williams counties.
  • 30007, NDIC, Samson Oil and Gas USA, Foreman-Butte pool, temporary authority to rework and use the Mays #1-20H well, #15646, section 28-150-102 for an EOR pilot operation, McKenzie County.
  • 30008, Resonance Exploration a proposed injection well, 720-acre spacing; E/2, E/2W/2 of section 36-163-79, and NE/4, E/2NW/4 of section 1-162-79, Bottineau County.
  • 30009, Resonance Exploration a proposed injection well, 640-acre spacing; S/2SW/4 of section 1 and the S/2, NW/4 and S/2NE/4 of section 12-162-80, Bottineau County. 
  • 30010, one well,
  • 30011, Cobra Oil & Gas, terminate the Bauman Drain-Madison Unit, Bottineau County.
  • 30012, KODA Resources Operating, 20 wells + 40 wells for a total of 60 wells.
  • 30013, KODA Resources, Daneville-Bakken, 20 wells.
  • 30014, CLR, Elm Tree-Bakken, 
  • 30015, CLR, Little Knife-Bakken, Rattlesnake Point-Bakken, and/or Jim Creek-Bakken, create and establish twwooverlapping 3840-acre units, sectionn 36-147-97, section 1/12-146-97, section 31-147-96 and section 6/7-146-96; and, secctions 13/24/25-146-97, and sections 18/19/30-146-96; one well between spacing units; Dunn County; 
  • 30016, EMEP Operating, create a 160-acre unit, NE/4 of section 4-142-94; recompletion of the Charles Davis 1-4-9H-142-9H (#23676); Dunn County;
  • 30017, Grayson Mill, Camp-Bakken, exception to the rules; McKenzie County;
  • 30018, Crescent Point Energy, Little Muddy-Bakken; establish an overlapping 2560-acre unit; sections 1/2/11/12-158-101, one section line well; Williams
  • 30019, Crescent Point Energy, commingling;
  • 20020, Crescent Point Energy, commingling;
  • 30021, Crescent Point Energy, pooling;
  • 30022, Crescent Point Energy, pooling;
  • 30023, Crescent Point Energy, pooling;
  • 30024, Crescent Point Energy, pooling;
  • 30025, Crescent Point Energy, pooling;
  • 30026, Crescent Point Energy, pooling;
  • 30027, Crescent Point Energy, pooling;
  • 30028, Crescent Point Energy, pooling;
  • 30029, Crescent Point Energy, pooling;
  • 30030, Liberty Resources Management, pooling;
  • 30031, Liberty Resources Management, pooling;
  • 30032, CLR, pooling;
  • 30033, CLR, pooling;
  • 30034, KODA Resources, Fertile Valley-Bakken; five wells each on two existing 1920-acre units, sections 2/11/14 and sections 23/26/35-160-102, Divide County;
  • 30035, WPX, commingling;
  • 30036, WPX, commingling;
  • 30037, Enerplus, commingling;
  • 30038, XTO, commingling;
  • 30039, XTO, commingling;
  • 30040, XTO, commingling;
  • 30041, Resonance Exploration, injection well on a 640-acre unit, S/2SW/4, section 1 and the S/2, NW/4 and S/2NE/4 of section 12-162-80, Bottineau; 
  • 30042, Resonance Exploration, injection well on a720-acre unit, E/2, E/2W/2 section 36-163-79 and the NE/4, E/2NW/4 section 1-162-79, Bottineau County.

Friday.
April 27, 2023
1 page

These are cases, not permits. Only two cases:

  • 30043, Foundation Energy Management, Camel Hump-Red River Unit, for unitized management, Golden Valley.
  • 30044, Foundation Energy Management, Camel Hump-Red River Unit; the plan for unitization, Golden Valley.  

Is Anyone Paying Attention? Look At These Numbers -- March 29, 2023

EIA weekly petroleum report, link here:

  • US crude oil in storage decreased by a whopping 7.5 million bbls but the amount of oil in storage is still 6% more than its historical norm; six percent;
  • refiners are operating at 90% of their capacity;
  • implied gasoline demand hit 10 million bopd;
  • distillate fuel inventories are still 9% below their recent historical average;
  • airlines are taking 7.1% more jet fuel now than they did in the same period one year ago.

Gasoline demand, link here:

The Bakken Never Ceases To Amaze Me -- March 29, 2023

OneLNG: Golar and Schlumberger form OneLNG joint venture. Link here. Do you know when that was? July 25, 2016. Seven years ago.

Today, from a reader: undated (?) --

The Eagle Ford would have also been a great choice but OneLNG went with the Bakken. Whoo-hoo!