Friday, April 20, 2018

Random Update Of The First Oasis Spratley Well, Alkali Creek -- April 20, 2018

Updates


October 29, 2021: updated production data -- 

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20213116681583146545004294130
BAKKEN7-20212113101289939268226330
BAKKEN6-202130193119341606521049100
BAKKEN5-2021311415180016425324499123
BAKKEN4-202130254423681721531850180
BAKKEN3-202131214217711707612158110
BAKKEN2-202128208924521875604257620
BAKKEN1-202131242722122094658262720
BAKKEN12-202031253923732194647961690
BAKKEN11-202030242229071950618658860
BAKKEN10-202031266825452317692266120
BAKKEN9-20203027912845247975637123140
BAKKEN8-20203130312925220741471040
BAKKEN7-20203127803074131775174410
BAKKEN6-202030465744443589884185410
BAKKEN5-202010168711631225245323530
BAKKEN4-202097251150772157514850
BAKKEN3-202031300730992650585055400
BAKKEN2-202029292930732706580055100
BAKKEN1-202031315626552881587455640
BAKKEN12-201931320335493119550251920
BAKKEN11-201930282031142663456642660

July 3, 2018: look at the continued great production --

Monthly Production Data:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20183012544124761971031052154651
BAKKEN4-201830136301379224382328519471038
BAKKEN3-201831162741616032399425327571186
BAKKEN2-20182010253977726971403126751156
BAKKEN1-201827749683292725613237012967
BAKKEN12-201729872478423868613508013218
BAKKEN11-20170000000
BAKKEN10-20170000000
BAKKEN9-2017128821443465180601676
BAKKEN8-2017312793243679050550


Original Post 

This is so cool. From an August 22, 2017, post:
FWIW: the Spratley wells have been updated; many went from loc to drl. Several DUCs. The original Spratley well is pushing toward 500,00 bbls.
  • 19946, 1,474, Oasis, Spratley 5494 34-13H, Alkali Creek, cased hole, 4.4 million lbs (sand + ceramic), t10/11; cum 523,282; still producing at 3,000 bbls/month (6/17)
So, here's the update (see below). The Spratley wells are followed here but need to be updated. There is no evidence that this well has been re-fracked (no FracFocus data nor any Oasis sundry form). It was placed on a submersible pump as of 2/18.

This is a cool well/update because I just posted, for newbies, the life of a Bakken well over at this post. 

Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-20182010253977726971403126751156
BAKKEN1-201827749683292725613237012967
BAKKEN12-201729872478423868613508013218
BAKKEN11-20170000000
BAKKEN10-20170000000
BAKKEN9-2017128821443465180601676
BAKKEN8-20173127932436790505504755
BAKKEN7-20173127963118830505304753
BAKKEN6-20173026932403688487804578
BAKKEN5-201731334435601240694106631
BAKKEN4-201730323234881135579505495
BAKKEN3-20173134053544923523549250
BAKKEN2-20172830182430946541140031128
BAKKEN1-201731384037351163662563150
BAKKEN12-201631319538061211554752370
BAKKEN11-20162226962729269337331530
BAKKEN10-20162630432863764517151710
BAKKEN9-20163031292882868690466040
BAKKEN8-201631369936291429847681660
BAKKEN7-201631398041551255851482040
BAKKEN6-201630353340001245757272720
BAKKEN5-201631458041591024641661060
BAKKEN4-20162938544053929564053500
BAKKEN3-20161925232351600427740870
BAKKEN2-201629363537291115642961390
BAKKEN1-201631383834911025661263020
BAKKEN12-201531415944501260736470540
BAKKEN11-201530418845451230766673660
BAKKEN10-201531492443591665844581350
BAKKEN9-201522383141191007579555750
BAKKEN8-201525445642731209667964290
BAKKEN7-201531521757391700863283220
BAKKEN6-201528455038131940599357130
BAKKEN5-201529535255371840732770370
BAKKEN4-201530638367012325706567650
BAKKEN3-201531766172522881819178810
BAKKEN2-201524613467031900572557250
BAKKEN1-201516372228791140333233320
BAKKEN12-20140000000
BAKKEN11-20140000000
BAKKEN10-2014810761443634329232920
BAKKEN9-20142855575744174013646136460
BAKKEN8-20143162716157229012298122980
BAKKEN7-201430700971462141631163110
BAKKEN6-201427761874032075696569650
BAKKEN5-20140000000
BAKKEN4-201415277731138901772905867
BAKKEN3-201431672562481829826782670
BAKKEN2-201428579256171688685368530
BAKKEN1-201423583863231465481048100
BAKKEN12-20131434172930156520069841022
BAKKEN11-201329581161631478780378030
BAKKEN10-201331706071462054665256471005
BAKKEN9-201330714478252060723634113825
BAKKEN8-201324434135041232412341230
BAKKEN7-201331696572801789558155810
BAKKEN6-201329774476491999729872980
BAKKEN5-201327834978992002390039000
BAKKEN4-20131833813813985536253620
BAKKEN3-201331850480792391895289520
BAKKEN2-201328734781522474510051000
BAKKEN1-201326818187081832837483740
BAKKEN12-20123194068483242414438144380
BAKKEN11-20123094419352228011960102751685
BAKKEN10-2012319825101322682984209842
BAKKEN9-201230948892982683984509845
BAKKEN8-2012311008310766307811421011421
BAKKEN7-2012311099810768185011601011601
BAKKEN6-2012301145011270284511931011931
BAKKEN5-2012311343313094278313995013995
BAKKEN4-2012291454314087323314384014384
BAKKEN3-2012291543215513360816235016235
BAKKEN2-2012311011095403115801158
BAKKEN1-2012312117821855526422278022278
BAKKEN12-2011312110221194512422200022200
BAKKEN11-2011302846028673744329939029939
BAKKEN10-20113142330417161486144531044531
BAKKEN9-2011151334712722382514042014042
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Random Update Of Statoil Russel Well In Painted Woods -- April 20, 2018

The well:
  • 19930, two frack/IP (see below), Statoil, Russell 10-3 1H, Painted Woods, cum 286K 2/18;
    • first frack: 5/22/11 -- 2,670, 36 stages; 4 million lbs; large/small ceramic
    • second frack: 8/11/17 -- 82, 1.9 million lbs, all mesh
For newbies: this is an important data point/random well update. The Bakken is now in the manufacturing phase. Bakken wells:
  • will be drilled
    • some will go immediately into production
    • some will be fracked/completed later (DUCs) -- within two years
  • once completed, Bakken wells will:
    • have pumps installed
    • undergo work-overs (think roto-rooter)
    • undergo mini-re-fracks
    • be re-fracked: standard re-fracks; high-intensity re-fracks
    • taken off-line while neighboring wells are fracked/re-fracked
    • come back off -line once work on neighboring wells is completed
    • be remotely "managed" for production
  • will produce for 35 years (source: NDIC) 
  • with "current" EURs of --
    • less than 500,000 bbls: poor wells
    • 500,001 - 750,000 bbls: "okay" wells for those with low expectations
    • 750,001 - 1,000,000 bbls: expectations for Bakken wells on the fringe
    • 1,000,001 -- 1,500,000: expectations for Bakken wells inside the fringe
    • > 1.5 million bbls: currently not much said about EURs greater than 1.5 million bbls ...
#19930 is a good example of a fairly mediocre well simply undergoing a very small re-frack -- few stages (it was a long lateral) and very little proppant and it was all mesh, relatively inexpensive to re-accomplish. By the way, this well is the only one in this drilling unit and is located on the fringe.
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Wow, Wow, Wow! I Did Not See This Coming -- Legacy Fund Deposits Drop Significantly In April, 2018, After Seven Months Of Increasing

Link here.

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Another First For The Expanded Panama Canal -- Making Panama Great Again! -- April 20, 2018

This has always been a burr under my saddle. I always thought the NY TImes article was a bit racist, suggesting the Panamanians attempt to widen the canal would go awry. The original post and updates are at this link.

Today, from Bloomberg: a first for the Panama Canal -- three LNG tankers crossed in one day. Wow.
Three liquefied natural gas tankers sailed through the Panama Canal on the same day this week, marking a first for the newly expanded waterway and highlighting the booming global gas trade.
All three ships -- Gaslog Hong Kong, Gaslog Gibraltar and Clean Ocean -- entered the canal on a staggered basis from the Pacific side Tuesday and had completed their crossings by early Wednesday, according to vessel tracking data compiled by Bloomberg. A representative for the canal authority confirmed the tanker moves.
The crossings underscore how the LNG trade has surged worldwide as new export facilities from the U.S. to Australia rumble to life and buyers in Asia boost their demand for the fuel. Since the canal completed a $5 billion expansion almost two years ago, traders and terminal developers have been closely watching the authority's ability to accommodate the jump in tanker traffic.
And more:
Dominion Energy Inc.'s Cove Point LNG terminal -- the second to send U.S. shale gas overseas -- started commercial service this week, roughly two years after Cheniere Energy Inc. opened up its Sabine Pass terminal in Louisiana. Thus far, Sabine Pass has shipped more than 300 cargoes to 26 countries.
As of March, the Panama Canal has seen 134 LNG vessels pass through it this fiscal year, according to a statement. Though this marks the first time three ships made the transit in one day, two ships have made the journey in 24 hours more than a dozen times.
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Exonyms and Endonyms

From wiki:
An exonym or xenonym is an external name for a geographical place, or a group of people, an individual person, or a language or dialect. It is a common name used only outside the place, group, or linguistic community in question.
An endonym or autonym is an internal name for a geographical place, or a group of people, or a language or dialect. It is a common name used only inside the place, group, or linguistic community in question; it is their name for themselves, their homeland, or their language.
For instance, "Germany" is the English language exonym, "Allemagne" is the French language exonym, and "Deutschland" is the endonym for the same country in Europe.
Japan is an exonym. The Japanese names (endonyms) for Japan are Nippon and Nihon.

And now the dots start to connect:
Before modern styles of romanization, the Portuguese devised their own. In it, /zi/ is written as either ii or ji. 
In modern Hepburn style, iippon would be rendered as Jippon. 
There are no historical phonological changes to take into account here. Etymologically, Jippon is similar to Nippon in that it is an alternative reading of 日本. The initial character 日 may also be read as /ziti/ or /zitu/.
Compounded with /hoɴ/ (本), this regularly becomes Jippon. Unlike the Nihon/Nippon doublet, there is no evidence for a *Jihon.
Wow. There you have it. It appears the Portuguese, before the "modern styles of romanization," provided the direct link to the exonym: Japan.

One can stop here, but wiki continues:
As mentioned above, the English word Japan has a circuitous derivation; but linguists believe it derives in part from the Portuguese recording of the early Mandarin Chinese or Wu Chinese word for Japan: Cipan (日本), which is rendered in pinyin as Rìběn (IPA: ʐʅ˥˩pən˨˩˦), and literally translates to "sun origin". Guó (IPA: kuo˨˦) is Chinese for "realm" or "kingdom", so it could alternatively be rendered as Cipan-guo. 
The word was likely introduced to Portuguese through the Malay Jipang. Cipangu was first mentioned in Europe in the accounts of Marco Polo. It appears for the first time on a European map with the Fra Mauro map in 1457, although it appears much earlier on Chinese and Korean maps such as the Gangnido. Following the accounts of Marco Polo, Cipangu was thought to be fabulously rich in silver and gold, which in Medieval times was largely correct, owing to the volcanism of the islands and the possibility to access precious ores without resorting to (unavailable) deep-mining technologies. 
The Dutch name, Japan, may be derived from the southern Chinese pronunciation of 日本, Yatbun or Yatpun. The Dutch J is generally pronounced Y, hence Ja-Pan.
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Update On The Pennsylvania Laurel Pipeline -- April 20, 2018

Updates

Later, 3:52 p.m. CT: this is pretty funny. Earlier today, I guess about 7:20 a.m. I wrote the following note (below the screenshot) about the "coolest tweet so far today." I thought it was a somewhat ridiculous item and considered deleting it, but there wasn't much else going on, so I left it alone. My thought was this: if President Trump feels that the high price of oil/gasoline could threaten his presidency/re-election, he would take steps to increase US production. LOL. Now this headline from oilprice.com (link here): 




Original Post
Coolest tweet so far today: President Trump says oil prices are "too high" and blames OPEC. I don't suppose Trump can do much about OPEC. Some say he can affect the price of oil with his actions in the Mideast (think sanctions on Iran). Perhaps, but having said that, this was my immediate thought: there's been a lot of talk recently about the possibility of a recession in 2019. Oil at $100 / bbl could certainly make that possibility more likely. Something tells me President Trump would prefer not to end his first (last?) term with the US in recession. If he thinks the price of oil could be a problem for the US economy, my hunch he will do what he can to support the US oil and gas sector. I don't think he can actually do much, but his administration certainly won't do anything to slow the oil and gas sector. In the big scheme of things, all this talk is probably a "wash," but it pleases me that the president is talking about this rather than talking about sports.

By the way, speaking of global supply of oil. Two things just off the radar scope: a) Libya looks to be in trouble again; b) the already-horrendous situation in Venezuela is apparently getting worse. Oil workers are said to be fleeing the sector under the military officer that has just been appointed to run Venezuela's oil sector.

SLB: earnings in line. SLB's first-quarter earnings almost doubled; soared 90% to 38 cents/share with revenue up almost 14% to just under $8 billion. North American revenue jumped 52% year-over-year while international revenue dipped slightly (think Russia?).

Making America great again: China catches "new wave" of ethane cracker projects. Will use US shale natural gas as feedstock. US shale gas. Link over at Rigzone.
[The] scope of work includes a process design package, heater engineering and technology license for two ethylene plants, each with a 1,250-kiloton per annum capacity, at Lianyungang’s petrochemical facility in China’s Jiangsu province.
According to CB&I, the ethylene plants will be the first such facilities in China that crack 100 percent ethane feed. The company explained that having this capability will represent a “new wave” of ethylene projects fed by U.S.-sourced shale gas.
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Back to the Bakken
Where Fracking Is Always In Fashion

Active rigs:

$67.94↓4/20/201804/20/201704/20/201604/20/201504/20/2014
Active Rigs59492892188

RBN Energy: Buckeye Partners' revised plan for the Laurel pipeline.

For a couple of years now, Buckeye Partners has been working to advance a controversial plan to reverse the western half of its Laurel refined-products pipeline in Pennsylvania to allow motor gasoline, diesel and jet fuel to flow east from Midwest refineries into the central part of the Keystone State. Some East Coast refineries that have relied on Laurel for 60 years to pipe their refined products as far west as Pittsburgh have been fighting Buckeye’s plan tooth and nail, arguing that it would hurt their businesses and hurt competition in western Pennsylvania gas and diesel markets — and refined-product retailers in the Pittsburgh area agree.
Now, after a state administrative law judge’s recommendation that Pennsylvania regulators reject Buckeye’s plan, Buckeye has proposed an alternative: making the western half of the Laurel Pipeline bi-directional, which would allow both eastbound and westbound flows. Today, we consider the latest plan for an important refined-products pipe and how it may affect Mid-Atlantic and Midwest refineries.
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