Top story of the week
PAA acquires new storage terminal near Watford City
Big story of the week
WPX Victor Elk well in Reunion Bay produces 54,000 bbls of oil in first month
Photographs
Vern Whitten photographs -- Spring in the Bakken
Operations
North Dakota production drops 3% month-over-month -- Director's Cut
Twelve more QEP permits in Spotted Horn; drilling unit approved for 48 wells
The Red Queen is in the Bakken
CLR's Hartman wells have been updated
Thursday with 21 new permits
Missouri River Resources with four permits in same 320-acre drilling unit
Active rigs bottom out at 111 for the week in North Dakota
Update on three huge Whiting wells
Oasis had 26 wells coming off confidential list, one day this week
Graphic of 17 CLR sites on one pad (or two neighboring pads) -- the Sanish
North Dakota state lease sales, February, 2015
Stockyard Creek never seems to quit: four more Whiting permits
Natural gas
Huge NGL capacity increase in the Bakken -- ONEOK update
Bakken economy
Williston population estimated to be 31,143 for calendar year 2014
Investors
Statoil eyes EOG
Whiting: Plan A
Whiting: Plan B
Brent-WTI price spread continues to ... spread
Chevron to increase asset sales by 50%
Humor
US economic malaise due to low gasoline prices -- analyst
Saturday, March 14, 2015
Friday, March 13, 2015
Twelve (12) More QEP State Wells In Spotted Horn In One Drilling Unit -- March 13, 2015
The first QEP State well in this section was spaced on a single section:
The State wells, all in Spotted Horn:
- 17260, 471, QEP, State 4-36H, Spotted Horn, about 5 stages; 400K lbs proppant, t10/08; cum 233K 4/20;
The State wells, all in Spotted Horn:
- 30909, 1,036, QEP, State 7-36-1BH, running south, t3/16; cum 283K 4/20;
- 30908, 564, QEP, State 4-36-1TH, running south, t3/16; cum 152K 4/20;
- 30907, IA/648, QEP, State 8-36-1BH, running south, t3/16; cum 124K 9/19; off line 9/19;
- 30906, 1,110, QEP, State 4-36-1T2H, running south, t3/16; cum 166K 4/20;
- 30905, 2,385, QEP, State 9-36-1BH, running south, t3/16; cum 191K 4/20;
- 30904, 2.024, QEP, State 5-36-1TH, running south, t2/16; cum 168K 4/20;
- 30712, 817, QEP, State 5-25-24TH, running north, t2/16; cum 211K 4/20;
- 30711, 670, QEP, State 9-25-24BH, running north, t2/16; cum 249K 4/20;
- 30710, 139, QEP, State 4-25-24T2H, running north, t2/16; cum 94K 4/20;
- 30709, 991, QEP, State 8-25-24BH, running north, t2/16; cum 256K 4/20;
- 30708, 375, QEP, State 4-25-24TH, running north, t3/16; cum 157K 4/20;
- 30707, 595, QEP, State 7-25-24BH, running north, t3/16; cum 243K 4/20;
Federal Government Makes Money On Oil Trade -- March 13, 2015
FuelFix is reporting:
I was going to make a joke about "trapping wind in a bottle" so environmentalists could sell wind at "high" prices and buy wind at "low" prices, but it turns out they are already working on that. Bloomberg has the story from 2007.
The Department of Energy is planning to buy up to 5 million barrels of oil to replenish the Strategic Petroleum Reserve after a test sale last year.
The planned purchase of sweet crude between June 1 and July 31 is required by federal laws forcing the Department of Energy to buy back petroleum products within one year, using the proceeds from a test sale.
In this case, the recent collapse in crude prices means the government is set to make money on the two transactions — effectively buying low now after selling high last year.Pretty cool.
I was going to make a joke about "trapping wind in a bottle" so environmentalists could sell wind at "high" prices and buy wind at "low" prices, but it turns out they are already working on that. Bloomberg has the story from 2007.
Update On Halcon -- SeekingAlpha -- Richard Zeits
Over at SeekingAlpha, update on Halcon in the Eagle Ford, not the Bakken:
- Based on my (Richard Zeits) well-by-well aggregation analysis, Halcón’s January 2015 Eagle Ford production remained essentially in line with the average for Q4 2014 (slight decline).
- Wells that were added in the past six months are outperforming the average for the preceding wells.
- HK's Eagle Ford production may decline in 2015 as the drilling program is scaled down to one rig.
Halcón Resources' January 2015 daily gross oil production in El Halcón (Eagle Ford) in East Texas declined 1% from the previous month (and ~3.5% from the average production volume for Q4 2014). Two new wells were turned to sales in January, compared to the average monthly new completion pace of 3.8 wells in the second half of 2014.Disclaimer: this is not an investment site. Do make any investment, financial, or relationship decisions based on what you read here or what you think you may have read here even if what you think you read here was really, really cool. It probably wasn't. It was just my irrational exuberance. If this stuff is important to you, go to the source.
Let's Start Another Rumor: Statoil Eyes EOG -- March 13, 2015
Houston Business Journal is reporting:
Nine (9) new permits --
The Dickinson Press is reporting that conversation groups want the 90-day flaring rule re-instated.
Through the grapevine: trucks not hauling much fracking sand from Minnesota, Wisconson. Still some moving by rail.
You just can't win. Chevy finally has a car that emits less CO2 but instead emits CO, a much more poisonous colorless, odorless, gas.
Zacks is reporting:
Correction: only model years 2011 to 2013.
Norway-based Statoil ASA may be pursuing a megadeal to acquire Houston-based EOG Resources Inc.
Industry chatter online and off picked up in late February that Statoil was targeting EOG in a merger or acquisition that could exceed $50 billion — more than the $35 billion for which Houston-based Halliburton Co. is buying Baker Hughes Inc.
Analysts said the deal would make sense for Statoil, which is growing its Houston presence, and seeking to expand in U.S. shale, as EOG is the unofficial king of Texas shale. For EOG, though, it's more a matter of whether the company could be up for sale at all during the ongoing oil slump.Active rigs in North Dakota:
| 3/13/2015 | 03/13/2014 | 03/13/2013 | 03/13/2012 | 03/13/2011 | |
|---|---|---|---|---|---|
| Active Rigs | 112 | 191 | 186 | 203 | 173 |
Nine (9) new permits --
- Operators: QEP (6), EOG (3)
- Fields: Spotted Horn (McKenzie), Parshall (Mountrail)
- Comments:
- CLR renewed fourteen (14) Jersey permits but I don't think it changes anything; I track the Jersey permits here
- Oasis renewed one permit, the Ellsberry Federal, in Williams County
****************************
90-Day Flaring Rule
The Dickinson Press is reporting that conversation groups want the 90-day flaring rule re-instated.
****************************
Not Surprising
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Why Does This Not Surprise Me?
Chariots-On-Fire Back In The News
You just can't win. Chevy finally has a car that emits less CO2 but instead emits CO, a much more poisonous colorless, odorless, gas.
Zacks is reporting:
GM is recalling 64,000 Chevrolet Volt hybrid electric cars, per media reports. The automaker is issuing the recall due to the problem of carbon monoxide creation when the vehicle is not shut down by the driver. The company plans to update the software to solve this issue.I guess that would be just about all the Volts ever sold.
Correction: only model years 2011 to 2013.
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