Insert Cachinnaton Here -- They're Reading The Blog -- Rig Counts Don't Matter -- HFI Research -- October 25, 2019

LOL funny.

To be honest, and I always am -- or at least try to be -- I do not recall HFI Research ever tweeting that rig counts don't matter but then again I don't catch all their tweets.

Petrogulf To Request A Total Of 14 Wells In One 1280-Acre Unit Under The River -- October 25, 2019

Abbreviated:

28080, Petrogulf Corp, Antelope-Sanish; amend order # 26411; very complicated amendment but bottom line, the company wants authority "for up to fourteen wells effective as of the first day of operations..."; McKenize, Mountrail

Full request: from the November, 2019, NDIC hearing dockets, this case (a case not a permit):
28080: Petrogulf Corp to amend order #26411 ... for the Antelope-Sanish pool, McKenzie and Mountrail counties, ND, to:

• terminate two existing 640-acre units, in T151N-R94W, 
• E/2 of sections 25 and 36; and,
• W/2 of sections 25 and 36;
• terminate the existing 1280-acre standup, north/south orientation-lease-line spacing unit 
• sections 25 and 36
• establish a 1280-acre unit 
• sections 25 and 36, 151-94
• for the existing horizontal wells (so existing wells would all 1280-acre spacing); 
• as well as the ten wells yet to be drilled
• Allowing up to fourteen wells effective as of the first day of operations 

Existing wells in drilling unit of interest:

• 25948, 2,088, Petrogulf Corp, Sandstrom 151-94-1H, Antelope-Sanish, t12/13; cum 435K 8/19;
• 25949, 1,367, Petrogulf Corp, Sandstrom 151-94-1HTF, Antelope-Sanish, t12/13; cum 592K 8/19;
• 28522, 2,106, Petrogulf Corp, Three Tribes 151-94-3H, Antelope-Sanish, t12/14; cum 404K 8/19;
• 28523, 1,572, Petrogulf Corp, Three Tribes 151-94-4HTF, Antelope-Sanish, t12/14; cum 435K 8/19;

Permitted sites at the northwest corner of the drilling unit, whose horizontals will go south into the drilling unit of interest:

• 31920, conf, Petrogulf Corp, Three Tribes 151-94-7H, Antelope-Sanish, no production data,
• 31921, conf, Petrogulf Corp, Three Tribes 151-94-8HTF, Antelope-Sanish, no production data,
• 31922, conf, Petrogulf Corp, Three Tribes 151-94-18HTF, Antelope-Sanish, no production data,
• 319238, conf, Petrogulf Corp, Three Tribes 151-94-19H, Antelope-Sanish, no production data,

Note the chronology / ordinal number in the legal names of #31922 and #39123. 

Summary: eight of the proposed fourteen wells are accounted for.

The graphics:

Notes From All Over, Part 3 -- October 25, 2019

Wow, who wudda thought?

At its highest point Friday morning, the S&P 500 rose to as much as 3,027.39, surpassing the closing high of 3,025.86 it reached in late July. It came within one point of its all-time intraday high of 3,027.98.

Here were the main moves in the market, as of 11:29 a.m. ET:

• S&P 500: +0.53%, or 16.05 points
• Dow: +0.72%, or 193.15 points
• Nasdaq: +0.67%, or 54.81 points
• 10-year Treasury yield: +1.8 bps to 1.784%
• WTI crude oil prices: +0.2% to $56.34 per barrel
• Gold: +0.43% to $1,511.20 per ounce

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

• SRE: the only disappointment; its regulated utility has shut off power to customers in southern California in accordance with the new California law mandating such if winds exceed a certain threshold; down as low as $143.72 but bounced back a bit, now at $144.80;
• AAPL: up 3/4th of a percent; up $1.77; trading over $245
• CVX: up almost a percent; up over a dollar; trading near $119
• D: down 1.53% -- which is interesting; I thought SRE was down due to wildfires; maybe something else going on
• EW: a little profit-taking; a small pause
• ENB: down a bit
• EPD: up a bit
• UNP: up almost a percent; up $1.46; trading near $172

A Small Operator, Lincoln Energy Partners, With Request For Almost 20 Wells Near Canadian Border -- October 25, 2019

Updates

December 9, 2019: from a reader regarding Lincoln Energy, from a comment sent this date --

Yes, with a 25,101 (total) distance, it works out to (roughly) 2 miles vertical and 3 miles horizontal -- minus the required setback. We have several of these going on out south of Noonan, where units that started at the Canadian border have met up with units coming up from the south. A 1280 unit leaves one section stranded, and since they would rather not have a 640 acre unit, they blend that into a three-section 1920. That is what Lincoln Energy Partners is petitioning for south of Noonan.

Original Post 

November, 2019, NDIC hearing dockets.

Bakken operators tracked here.

Lincoln Energy Partners

• First blog post: February 22, 2019
• Website for Lincoln Energy Partners 
• 852 N. Broadway, Suite 300, Denver, CO 80203
• non-operator
• landmen
• prior to recent foray into the Bakken, it appears they were concentrated on the:
• DJ Basin Niobrara and Codell
• Powder River Basin
• the Bakken not yet mentioned (February 22, 2019)

From the November, 2019, NDIC hearing dockets, case, not a permit:

• 28121, Lincoln Energy Partners, Noonan-Bakken, i) two 1920-acre units; 8 wells on each; ii) an overlapping 3840-acre unit; one well; Divide County; 
• the 1920-acre units
• sections 21/28/33-162-95
• sections 22/27/34-162-95

The only well in the graphic:

• 17651, 305, CLR, Tanberg 1-4H, Sadler, t12/10; cum 126K 8/19;

A well not in the graphic, but to the east, but in the Noonan oil field:

• 27298, 699, CLR, Brodal 1-36H, Noonan, t4/14; cum 102K 8/19; 

The graphic:

November, 2019 Hearing Dockets: BR To Request 20 Wells In One 2560-Acre Stand-Up Unit -- Middle Bakken And First Bench Only -- October 25, 2019

From the NDIC, November, 2019, hearing dockets:

• 28117, BR, Johnson Corner and/or Pershing-Bakken, twenty (20) wells on a 2560-acre unit, section 15/22/27/34 -150-96; McKenzie County

Thinking out loud:

• currently nine horizontals running north in a 1280-acre unit
• currently nine horizontals running south in a 1280-acre unit
• plan for ten more horizontals running north through those two sections: a total of 19 horizontals running north (but the new wells will be spaced at 2560-acre spacing)
• plan for ten more horizontals running south through those two sections: a total of 19 horizontals running south (but the new wells will be spaced at 2560-acre spacing)
• these are all middle Bakken and first bench Three Forks wells
• lower benches of the Three Forks yet to targeted (may or may not happen)
• many, many ways to look at density
• one way: 1280 acres / 19 wells = 67 acres (MB and TF1 combined)
• another way: 1280 acres / 10 wells = 128 acres (MB or TF1 separately)
• another way: vertical array of 19 horizontals is still less than the 24 or more that some have proposed
• another way: spacing between horizontals, horizontally: 5280 feet / 10 wells = ~ 500 feet
• note: about two years into blogging about the Bakken I opined that fracking was effective out to 500 feet radially; something tells me I may be off by a factor of 2 before this is all over

Wells in the graphics (not all wells are in these 1280-acre or 2560-acre spacing units; some of the wells below lie outside these spacing units):

• 17529, 300, BR, Morgan 34-21H, Pershing, t2/09; cum 335K 7/19; off line as of 7/19; remains off line 8/19;

• 29872, 1,443, BR, Kirkland 41-28TFH, Pershing, t11/15; cum 201K 8/19;
• 29873, 2,084, BR, Kirkland 41-28MBH, Pershing, t11/15; cum 322K 8/19;
• 29874, 2,004, BR, Morgan 41-28MBH, Pershing, t11/15; cum 201K 8/19;
• 29875, 1,483, BR, Morgan 41-28TFH ULW, Pershing, t11/15; cum 262K 8/19;

• 28272, 2,685, BR, Copper Draw 11-27TFH ULW, Pershing, t11/14; cum 264K 8/19;
• 28273, 2,445, BR, Copper Draw 11-27MBH, Pershing, t11/14; cum 397K 8/19;
• 28274, 2,485, BR, Lillibridge 11-27MBH NH, Johnson Corner, t10/14; cum 238K 8/19;

• 27306, 1,523, BR, Lillibridge 21-27TFH, Johnson Corner, t10/14; cum 242K 8/19;
• 27307, 2,244, BR, Copper Draw 21-27MBH, Johnson Corner, t10/14; cum 339K 8/19;
• 27308, 1,683, BR, Lillibridge 21-27MBH, Johnson Corner, t9/14; cum 192K 7/19; off line as of 7/19; remains off line 8/19;
• 27309, 2,004, BR, Copper Draw 21-27TFH, Johnson Corner, t10/14; cum 300K 8/19;

• 23648, 2,725, BR, Copper Draw 24-22MBH, Johnson Corner, t7/13; cum 326K 8/19;

• 23647, 2,886, BR, Lillibridge 24-22TFH, Johnson Corner, t7/13; cum 295K 8/19; off line as of 7/19; remains off line 8/19;
• 23646, 2,325, BR, Copper Draw 24-22TFH 2SH, Johnson Corner, t7/13; cum 302K 8/19;
• 23645, 2,926, BR, Lillibridge 24-22MBH 2NH, Johnson Corner, t7/13; cum 375K 8/19;

• 28348, 1,920, BR, Copper Draw 41-27TFH, Johnson Corner, t3/15; cum 276K 8/19; off line as of 7/19; remains off line 8/19;
• 28347, 1,656, BR, Lillibridge 41-27MBH, Johnson Corner, t3/15; cum 330K 8/19;
• 28346, 2.400, BR, Lillibridge 41-27TFH-ULW, Blue Buttes, t3/15; cum 437K 8/19;
• 28345, 2,880, BR, Copper Draw 41-27MBH-ULW, Croff, t4/15; cum 513K 8/19;

• 17271, 312, BR, Copper Draw 34-34H, Blue Buttes, t6/08; cum 480K 8/19;

• 17323, 110, BR, Mary Ann 1-15H, Johnson Corner, t8/08; cum 467K 8/19;

The graphics: