Well, This Should Put Fear of Allah into Syrians ... President Obama Signs Executive Order Barring US From Importing Syrian Oil

Link here. 

Most of Syria’s oil is used domestically, but it exports 150,000 b/d, 95% of which goes to Europe, primarily to Italy, the Netherlands, France, and Germany.

The article does not say how much Syrian oil is brought into the US. And I bet none of the mainstream reporters asks.

For comparison, the North Dakota Bakken is producing about 350,000 bbls/day.

The same day the announcement is made about the executive order, the price of WTI oil drops $4.00.

Perhaps for the consumer, the President needs to sign another executive order barring the importation of oil from the Gaza Strip.

New Record: 193

Dynamic link here.

Petro-Harvester -- Madison Wells -- Bottineau County -- North Dakota, USA

This is why I love the blog and love to blog.

"Anonymous" asked me if I knew anything about some Madison wells that Petro-Harvester is drilling in Bottineau County.  Go back to the Madison wells at Stockyard Creek to see why one might be interested in the Madison.

For newbies:

• Bottineau County is north of the core Bakken; it lies along the Canadian border
• Most folks associate Bottineau County with Spearfish formation
• The Madison formation is a legacy formation; it's been producing "forever"; I believe it still accounts for about 50% of all oil produced in North Dakota; that percentage has dropped quickly over the past two years with the discovery/success of the Bakken
• Having said that, some folks may do very well going back to the Madison, especially if Madison wells don't need fracking, which can now account for 50% of the cost of the well

I will update the post when I get a chance, but here's an example of a Petro-Harvester well in Renville oil field in Bottineau County, North Dakota:

• 19315, AB/1,038, Petro-Harvester, Rice 11, Madison, Renville; t8/10; cum 130K 7/15; last produced 7/15;

History:

• This location was spud 7/31/2010, completed 8/19/2010; tested 8/22/10
• It was drilled to a depth of 6,500 feet; it looks like it was unitized, water flooded
• To date, it has produced 98,000 bbls of oil (as of 12/12)

Production history:

MADISON	11-2011	30	2311	2357	46430	0	0	0
MADISON	10-2011	31	2529	2563	52496	0	0	0
MADISON	9-2011	30	2271	2311	38189	0	0	0
MADISON	8-2011	31	2383	2479	33575	0	0	0
MADISON	7-2011	30	2891	2847	38294	0	0	0
MADISON	6-2011	30	3589	3595	36940	0	0	0
MADISON	5-2011	21	3456	3254	25000	0	0	0
MADISON	4-2011	25	1632	1530	27380	0	0	0
MADISON	3-2011	31	2235	2210	35456	0	0	0
MADISON	2-2011	28	2447	2447	31885	0	0	0
MADISON	1-2011	31	2861	2861	38553	0	0	0
MADISON	12-2010	30	2926	2926	38740	0	0	0
MADISON	11-2010	30	4599	4599	38105	0	0	0
MADISON	10-2010	31	7933	7933	36093	0	0	0
MADISON	9-2010	29	13336	13564	11644	0	0	0
MADISON	8-2010	14	10786	10558	5529	0	0	0

18452, AB/0 (not a typo), Petro Harvester, Glessing 7-16, Madison, Renville; cum 4K 3/12;
20776, DRL --> WI, Petro Harvester, Rice 13, Madison, Renville
21144, PNC, Petro Harvester, Rice 13X, Madison, Renville
20773, PNC, Petro Harvester, Riise 4, Madison, Renville
20963, DRL --> WI, Petro Harvester, Riise 4X, Madison, Renville, t8/10; cum 128K 5/16; last produced 5/16;
20775, DRL --> WI, Petro Harvester, Riise 12, Madison, Renville
19634, DRY, Petro Harvester, Greek 1-2, Madison, 18452

Data Points for August 18, 2011 -- With No Comment

Dow plunges 450 points.

New unemployment claims exceed forecasts: 409,000 vs 400,000.

Two months ago, big story: with stimulus money coming to an end, expect second round of layoffs.

Good news for consumer: Ms Bachmann says she will get gasoline back to $2.00.

Better news for consumer: Mr Obama may out-do Ms Bachman -- price of oil drops $4.05 overnight.

The New York Times: nowhere near a depression. During the depression, 25% unemployment; current "real" unemployment no worse than 17%.

Inflation rising fast: Drudge Report headline with link.

Missile that hit Israel overnight fired from Egypt; occurs months after Egyptian leader "thrown under the bus" by US "ally" of 30 years.

Drudge Report: huge photo of President and First Lady riding bikes at leisurely pace; bicycle helmets in place; no daughters in the photo.

Yesterday, story that the president will present new jobs program sometime after his vacation is over.

It is leaked that the jobs program will be to hire 500,000 to repair dilapidated schools around the country; similar to "100,000 new cops on the street" program.

Stockyard Creek Has Been Updated -- Bakken, North Dakota, USA

Stockyard Creek has been updated.

For folks living in Williston, this is a nice field to drive out to and look at the activity. There is one rig on site, just to the north of US 2, as one enters the field from the west. There are several wells on the confidential list, and my hunch is there are a lot of flares to be seen from the road.

It appears that all 33 sections of this field should be held by production now except for maybe three sections (11, 12, 30).

It's an interesting mix of wells: a lot of very good Madison wells, such as:

• 12537, 157, Petro-Hunt, State of North Dakota K 1, Stockyard Creek, Madison; s10/88; t12/88; 6/11 461K; still easily 1,000 bbls/month

...this well is still pumping 1,000 bbls/month after producing for 23 years, and another Madison well:

• 12487, 272, Petro-Hunt, Texaco Otto Boss 18-1, Stockyard Creek, Madison; s8/88; t9/88; 6/11 637K

The Petro-Hunt K 1 well has produced 461,000 bbls to date; the Otto Boss has produced 637,000 bbls to date, both Madison wells.

Meanwhile, some of the new Bakken wells look to be very good, including:

• 19220, 1,057, BTA/Baytex, 20711 Saccaro 310 1-H, Bakken, spudded 8/10, DRL; s8/10; t11/10; 6/11 110K -- spudded 8/10 and has already produced 110,000 bbls of oil

Anyway, the update is here.