Weekly US Crude Oil Inventories Down 3 Million Bbls; Hess Reports A Nice Well -- June 19, 2019

Graphic of the day: it's getting more and more difficult to sort out parent-child wells. Example:

Suitable for framing: I plan to print that, enlarge it to an 8x10, and hang it up in my living room. 

EIA weekly petroleum report: released.

• weekly crude oil change: decreased by 3.1 million bbls
• WTI: down 45 cents
• weekly crude oil inventories: 482.4 million bbls; 7% above the 5-year average
• refineries operating at capacity: 93.9% (trending up; this is about where this metric should be. Finally.)
• imports: down by 144,000 bopd; crude oil imports are down about 8% for the past four weeks compared to same period last year
• jet fuel: up over 5% compared with same four-week period last year

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Back To The Bakken

Wells coming off the confidential list today -- Wednesday, June 19, 2019: 66 for the month; 255 for the quarter;

• 35184, 3,646, Hess, EN-Sorenson A-154-94-0211H-8, Alkali Creek, t4/19; cum 5K over 5 days;
• 34960, SI/NC, WPX, Lion 18-19HEL,Mandaree, no production data,

Active rigs:

$53.61	6/19/2019	06/19/2018	06/19/2017	06/19/2016	06/19/2015
Active Rigs	62	61	56	28	77

RBN Energy: Marathon Petroleum / Andeavor Logistics' Permian crude gathering system, part 9.

Most crude oil gathering systems in the Permian — and elsewhere — have a relatively simple aim: to reliably and efficiently deliver crude from the lease to larger pipelines downstream that provide their shippers a high degree of destination optionality — end of story. A select few systems, though, have evolved into key elements of their owners’ larger value chain. With these, crude flows through gathering systems and takeaway pipes to export terminals — maybe even refineries — all held by the same company or its affiliates. By integrating assets from the site of crude production to the refinery or export dock, such owners add value each step of the way. Today, we continue our series with a look at Marathon Petroleum/Andeavor Logistics’ Permian crude gathering system, which started out relatively small and isolated but has evolved into something much bigger and better connected.

No Pipelines? No Problem -- NextEra Will Truck It In -- June 19, 2019

From Bloomberg, NextEra will truck LNG to the northeast. Data points:

• unless you've been living under the Geico Rock, you are well aware of the pipeline bottlenecks in the northeast
• see tag, "Road-To-New-England"
• see tag, "Trucking-LNG" (but for a different reason)
• closely held Edge Gathering Virtual Pipelines 2 LLC is using tractor trailers to treat gas, chill it, and truck it from northeastern Pennsylvania to Rhode Island
• NextEra Energy Marketing LLC, a subsidiary of the biggest North American utility owner, is a shareholder in the company and the exclusive sales and marketing partner for the fuel
• all kinds of pipeline problems
• "a lot of wells are in no man's land"
• New Fortress Energy LLC, founded by billionaire Wes Edens, is also considering trucking Marcellus LNG north

And then look at this:

Edge Gathering is in discussions to haul supply from the Permian Basin of West Texas and New Mexico and the Bakken formation in North Dakota and Montana, where gas is a byproduct of oil drilling and is often burned off in a process known as flaring.

And then this:

Edge’s first Pennsylvania project can produce the equivalent of 1 million cubic feet a day, or two truckloads.

One million cubic feet: 175 boe. 

So much more at the link.

If third world countries can do it with trucking, certainly the US can do it with trucking. If that's what the faux environmentalists prefer. Lots of jobs for truckers.

There Won't Be Any More -- Nothing About The Bakken -- YouTube Fugue -- June 19, 2019

Okay, not quite true.

I said "nothing about the Bakken" in the subject line. But here's a Bakken note.

The XTO Bobcat Federal wells are tracked here. They are still SI/NC (DUCs) but some older wells in the immediate area that were taken off line are now coming back on line suggesting that perhaps the Bobcat Federal wells have been fracked. There is nothing at FracFocus yet. But it gave me a chance to look at this well:

• 34355, SI/NC, XTO, Bobcat Federal 14X-35E2, 33-025-03404, Bear Creek. This is a Three Forks, second bench well, extended reach (3-section);

From the file report:

• depths:
• upper Bakken shale penetrated at 10,996' TVD  (shale seam: 16' thick)
• middle Bakken penetrated at  11,012' TVD (middle Bakken dolomite: 37' thick)
• lower Bakken shale penetrated at 11,049' TVD  (shale seam: 19' thick) 
• Three Forks, first bench, penetrated at 11,068' TVD (dolomite: 39' thick)
• Three Forks, second bench, penetrated at 11,107' TVD 
• description:
• the uppermost section of the second bench is composed of brown shale, tan to light brown shaly dolomite and slighly pink dolomite, which is often referred to as the "Chocolate Shale" 
• below the "Chocolate Shale / Dolomite" making up the upper third of the second bench, the target zone is composed of light gray-brown to pink, to very light brown dolomite interbedded with multicolored dark gray to blue-gray, to rare green-gry argillaceous dolomite
• porosity / geology:
• the best porosity and associated oil staining was observed in a 4' dolomite in the upper half of the target zone approx 2' to 6' high of target center
• structure maps predicted the formation would stay flat
• results:
• the resultant target exposure was approx 80% within the target zone
• the target up-dip was 0.03 degrees, with formation rising 7' over roughly 15,618' MD
• total depth: 26,945 feet
• gas units:
• highest gas show: 1,190 units
• average gas: 175 units
• the lower amounts in gas readings is likely the result of tight porosity and distance from the Bakken source, resulting in gas taking long to infiltrate into the open wellbore
• drilling:
• spud date: March 11, 2018
• re-entry date: May 27, 2018
• TD: June 13, 2018

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The Concert Page

I can count on one hand the number of "big-name" concerts I've attended. The golden age of concerts, at least for me, was in the 1960s and 1970's: Liberace (Vegas); Charlie Rich (southern California); Bob Dylan (San Antonio) -- that was about it. The price of tickets has definitely spoiled the opportunity. Live entertainment -- from Hamilton to Garth Brooks is now for the elite.

I remember going to the Greek Theater, Griffith Park, Los Angeles, on perhaps more than one occasion, but I don't remember the "act."

The best concerts were at the Hostfest in Minot: Charlie Pride; Myron Floren; Williams & Ree; the Ringling 5; Willie Nelson; others I've long forgotten. All "free."

I've seen more musicals in London than concerts in the US. A huge shout-out to the US Air Force for sending us to Europe for thirteen continuous years; four of those years were near London. Then later I returned to northern England for multiple deployments over several years. I never did see The Rocky Horror Picture Show. But I digress.

I was reminded of these things early this morning (see YouTube Fugue): After midnight I start with a random song on YouTube.com which leads me to another and then another. Later, sometimes hours later, I end up somewhere not knowing how I got there. Often I am in a fugue state. I am sure I am not alone.

This morning, shortly after midnight, up popped Charlie Rich:

There Won't Be Any More, Charlie Rich

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On Another Note

I used to enjoy YouTube more but the constant interruption of ads destroys the "mood," for lack of a better word. It breaks the non-drug induced fugue state.

Now, it's Alexa. I love Alexa. Truly amazing. Free, except for the initial $25 outlay or whatever is now for the donut-sized / donut-shaped Echo. For $8 / month, literally every song available.

TransMountain Update -- By Then It Would Be Winter -- June 19, 2019

Hope springs eternal: the approval came to late to get this project started/completed this year. This will carry over into 2020. Something tells me the legal and political wrangling is not yet over.

Think I'll go out to Alberta
Weather's good there in the fall
I got some friends that I can go to working for
Still I wish you'd change your mind
If I asked you one more time
But we've been through that a hundred times or more

Four Strong Winds, Ian and Sylvia

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Definition of Insanity

I don't think folks realize that once the bill is passed, "no-growth" begins immediately. Any new project, any new development, anything that "requires" energy will need to be approved by the Climate Action Council.

With "social justice" a major component of the law, I see a lot of lawsuits against corporations with deep pockets. 

Link here.

The legislation calls for reducing emissions by 40% from 1990 levels by 2030 and 85% by 2050. The remaining 15% of emissions would be offset, making the state carbon neutral. The bill would also require that all electricity generation come from carbon-free sources by 2040. A Climate Action Council would be established to ensure the state meets its targets.

From the article:

New York has considerable ground to make up. The state cut emissions only 8% between 1990 and 2015, according to the most recent New York greenhouse gas inventory.

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This Calls For A Drink

From The Wall Street Journal, Scotch breaks with tradition to woo new drinkers. A governing body is relaxing rules over how to produce the spirit, giving in to demands by distillers.

To count as Scotch, the spirit must be distilled in Scotland from water and malted barley and aged in the country for three years in oak casks.

The Scotch Whisky Association, which enforces how Scotch is made and marketed, has for years also required distillers to mature and finish the drink in casks traditionally used by the industry, limiting producers mainly to old sherry, cognac, bourbon or port barrels.

Now, in a rare change to the rules, it will allow a wider variety of casks, including those previously used to age tequila and mezcal, cachaça, shochu and baijiu and other fruit spirits.

Paul Miller, owner of St. Andrews-based Eden Mill Distillery & Brewery, hopes that access to a wider range of casks will decrease prices. Standard bourbon casks cost him over £100 ($125), while wine casks can range from £80 to £200 depending on provenance, making them among his biggest outlays.

I honestly don't think it's the cost of Scotch that is the problem.

The Daily Activity Report For Tuesday, June 18, 2019

Posted.

Link here.

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The Baseball Page

This is really, really cool. I was first made aware of the 2019 Twins while watching the Texas Rangers play Cleveland last night. The play-by-play folks happened to mention the Twins in passing. And then I saw this in The Wall Street Journal:

From the linked article:

It isn’t the New York Yankees, who have led the sport in homers in each of the last two years. It isn’t the Houston Astros, with their turbocharged lineup and bandbox home stadium. It isn’t the Los Angeles Dodgers or Boston Red Sox or any of the other big-market clubs typically known for their ability to send balls into the stratosphere.

It’s the Minnesota Twins, and with the schedule approaching the halfway mark, it’s time to start treating them as what they are: legitimate World Series contenders.

Despite limited expectations coming out of spring training, the Twins have emerged as an unexpected force, on a pace to finish with a franchise-record 107 wins. They entered Tuesday holding a 10-game lead over the Cleveland Indians in the American League Central, putting them firmly en route to their first division title since 2010.

Based on the current winning percentages of their opponents through Monday, they have the second-easiest schedule in the major leagues the rest of the way.

And then this:

At their current rate, the Twins would bash 313 home runs in 2019, shattering the Yankees’ all-time mark of 267 from last season. No team has ever had more than nine different players hit at least 15 home runs in a season. Barring significant injuries, the Twins could have as many as 11, all with a payroll far below MLB average.

What has helped? A more aerodynamic ball. Really? Seriously. That's what the article said.

It does seem that baseball scores this season reflect more runs. Last night the Cleveland Indians defeated the Texas Rangers 10 - 3 beginning with a three-homer early in the game, if I recall correctly.

Maybe that's what they need in soccer: a more aerodynamic ball. Fans love to see more scoring, regardless of the sport.