Production Alert! -- The Newly Fracked Mathistad Wells Are Monsters -- November 21, 2019

This post will not be updated. The BR Mathistad wells in Croff oil field are tracked here.

The newly fracked Mathistad wells were completed/tested in late 2017, about two years ago. They are monster wells. A typical example:

• 33152, 414, BR, Mathistad 6-8-35 MBH, Croff, 29 stages; 10 million lbs large, t11/17; cum 535K 9/19;

Full production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2019	30	18396	18311	6605	48132	45626	2492
BAKKEN	8-2019	26	18342	18227	6806	40557	35580	4965
BAKKEN	7-2019	31	0	110	0	0	0	0
BAKKEN	6-2019	30	11181	11316	4248	22552	18657	3883
BAKKEN	5-2019	31	25827	25743	8656	50967	35886	14942
BAKKEN	4-2019	30	30343	30335	6983	58345	27789	30418
BAKKEN	3-2019	31	19286	19327	5706	35198	22717	12457
BAKKEN	2-2019	28	16437	16403	6659	18905	18826	0
BAKKEN	1-2019	31	25493	25502	6584	25070	25030	0
BAKKEN	12-2018	22	21525	21531	6361	20102	19981	0
BAKKEN	11-2018	30	27576	27597	7295	26738	26728	0
BAKKEN	10-2018	31	28064	28226	8108	30142	30131	0
BAKKEN	9-2018	30	28244	28051	8487	33798	33786	0
BAKKEN	8-2018	31	30329	30460	9431	43508	43029	467
BAKKEN	7-2018	31	30040	29900	10813	41403	40883	510
BAKKEN	6-2018	30	28216	28256	9035	42867	42856	0
BAKKEN	5-2018	31	25264	25310	5567	36521	36510	0
BAKKEN	4-2018	30	31938	31844	11458	50885	50872	0
BAKKEN	3-2018	31	20587	20563	7980	33552	33542	0
BAKKEN	2-2018	27	29133	29168	9792	34952	34942	0
BAKKEN	1-2018	26	33139	33172	9074	39317	39305	0
BAKKEN	12-2017	25	22804	22763	7035	31347	31338	0
BAKKEN	11-2017	20	13096	12945	3421	13623	12656	958

Natural Gas Fill Rate -- November 21, 2019

 Link here.

Meanwhile, up in the great white north:

Notes From All Over, Part 1 -- November 21, 2019

Slow, slow day. Will be off the net until later, after this note is completed. Good luck to all. 

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

In trouble? Exxon steps up assets sale -- $25 billion plan -- Reuters:

• to divest up to $25 billion of oil and gas fields in Eruope, Asia, and Africa
• to focus on a handful of mega projects at home, abroad
• Guyana, Mozambique, Papua Guinea, and the US
• original plan: to sell $15 billion in assets; huge increase
• effectively leaves Europe (France and Poland have been major disappointments
• to divest British North Sea, Germany, Romania
• for some odd reason, keeps assets in Groningen which is slated to close anyway
• too little, too late?

In trouble? TD Ameritrade to be acquired by Schwab -- $26 billion --  Barron's. 

Acquisition closes: Bristol-Myers closes $74 billion Celgene takeover.  

Meanwhile, Warren Buffett continues to look for deals. Berkshire Hathaway hath found no way to spend part of its $125 billion cash hoard.

Qualcomm could test all-time high -- Investopedia --

-- finally nearing a historic test of the 2000 bubble high following an 18-year "bounce" that started in the low teens at the end of the bear market in 2002. The vast majority of big tech stocks have already mounted this ancient signpost, generating much stronger long-term returns than the San Diego-based digital communications giant. A breakout could finally lift this perennial cloud, allowing Qualcomm stock to roam freely in the triple digits.

Target sales soar; Forever 21, Sears shutter stores -- USA Today

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The History of Religion Page

Titles.

From wiki: Gratian, or Flavius Gratianus Augustus; May 359 – August 383) was Roman emperor from 367 to 383.  He favoured Christianity over traditional Roman religion, refusing the office of Pontifex maximus and removing the Altar of Victory from the Roman Senate.

From Lost to the West: The Forgotten Byzantine Empire That Rescued Western Civilization, Lars Brownworth, c. 2009, continuing the Christianity vs paganism fight at this time (4th century AD, as Roman Empire imploded):

This wasn't the first time the [Roman] bishop had attempted to enlist imperial support in stamping out the last traces of the ancient [pagan] religion.

A few years before, the bishop had convinced the emperor Gratian that it was embarrassing for a Christian emperor to be carrying around the title Pontifex Maximus -- chief priest of the state religion -- prompting Gratian to go striding into the Senate House of Rome and publicly declare that he was renouncing the title.

Although Gratian was the last emperor to use the title Pontifex Maximus, it didn't disappear into the mists of history. 

In 590, Pope Gregory I adopted it in his role as "chief priest of Christianity" and from it we get the title "pontiff." 

Literally, "pontiff" is translated as "bridge builder" (think pontoon), because the Pontifex Maximus bridged the gap between the world of the gods and the world of man.
Constantine had kept the title because he saw himself as the "Bishop Bishops" -- a title that the pope also assumed. 

Words matter.

Monthly Legacy Fund Deposits Report Delayed; Jobless Claims -- Unchanged Week-Over-Week; Jobless Claims Unchanged -- November 21, 2019

Legacy Fund: monthly deposits data apparently delayed, link here. My hunch: the deposits have been made but the data has been delayed due to a new website.

Link here.

• prior: 225K
• revised prior: 227K
• forecast: 217K
• actual: 227K

Gasoline demand, link here:

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The Death of Attila The Hun

By nosebleed.

Leader of the Huns from 434 AD until his death in 453.

453 A. D. Attila crosses into Gaul and unleashes his horde. The Roman army scatters. The citizens of the little townof Aquileia fled at Attila's approach to the safety of the nearby lagoon. Recognizing the superb defensive otision it offered, they elected to say put, laying the foundations of what would become the mighty Republic of Venice. Its oldest island, Torcello, still has a crude stone chair dubbed by the locals "Attila's throne."

Attila entered Rome unopposed. No government or military Roman stayed. Only the lonely figure of Pope Leo trudged out on foot to meet Attila.

It is unknown at Pope Leo said to Attila, but unexpected Attila turned and left Rome, leaving the city unexpectedly intact.

Within days, after a night of night of drinking and partying, he was found the next morning, dead from a "burst artery -- and the Scourge of God had died from a glorified nosebleed.

Paraphrased from From Lost to the West: The Forgotten Byzantine Empire That Rescued Western Civilization, Lars Brownworth, c. 2009, pages 54 - 55.

Five Wells Coming Off The Confidential List Today -- November 21, 2019

First things first: Schwab to buy TD Ameritrade. 

• deal: $26 billion
• assets, retail: $5 trillion

Natural gas storage: last week’s EIA figure for gas in storage at the end of injection season, normalized to supply, represents the second lowest on record even as gas demand is poised for a last major surge. Link here.

Natural gas, US: production, consumption, and exports set new records in 2018.

The U.S. Energy Information Administration’s Natural Gas Annual 2018 shows that the United States set new records in natural gas production, consumption, and exports in 2018.

In 2018, dry natural gas production increased by 12%, reaching a record-high average of 83.8 billion cubic feet per day. This increase was the largest percentage increase since 1951 and the largest volumetric increase in the history of the series, which dates back to 1930.

U.S. natural gas consumption increased by 11% in 2018, driven by increased natural gas consumption in the electric power sector. Natural gas gross exports totaled 10.0 Bcf/d in 2018, 14% more than the 2017 total of 8.6 Bcf/d. Several new liquefied natural gas export facilities came online in 2018, allowing for more exports.

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Back to the Bakken

Active rigs:

$57.37	11/21/2019	11/21/2018	11/21/2017	11/21/2016	11/21/2015
Active Rigs	55	62	55	38	65

Wells coming off the confidential list today -- Thursday, November 21, 2019: 72 for the month; 167 for the quarter:

• 35907, SI/NC, WPX, Beaver 22-21HB, Squaw Creek, no production data,
• 35607, 1,132, Whiting, Sylte 21-15-2TFH, Tyrone, t6/19; cum 74K 9/19;
• 35295, 0 (no typo), BR, Meriwether 1A MBH-ULW, Corral Creek, t9/19; cum --;
• 35260, SI/NC, Hess, BB-Olson-150-95-09H-7, Blue Buttes, no production data,
• 34771, SI/NC, XTO, Lonnie Federal 31X-3D, Hofflund, no production data,

RBN Energy: crude supply vs export capacity at Beaumont-Port Arthur.

As new crude oil pipeline capacity to the Gulf Coast comes online, a growing disconnect is developing between the surplus crude volumes available for export and the actual export capacity at coastal terminals, particularly projects that would accommodate the more economical and efficient Very Large Crude Carriers (VLCC). This is especially true in the Beaumont-Port Arthur, TX, area, where the relatively shallow depth of the Sabine Neches Waterway limits vessels to Aframax-class ships or partially loaded Suezmax tankers. If planned pipeline expansions into the BPA region over the next two years are completed, over 1 MMb/d of additional crude exports would need to leave BPA terminals to balance the market. Today, we look at current and future export capacity out of BPA.