Third Generation Monster Wells Have Been Updated -- June 19, 2020

I track 3rd generation monster wells at this site.

I assume this well has recently been posted, but I don't recall. Regardless, this 3rd generation monster well just went over 500K bbls crude oil in less than two years:

• 33813, 1,595, Petro-Hunt, USA 153-95-23D-14-2H, 43 stages; 5.4 million lbs; Charlson, t7/18; cum 507K 4/20;

This monster well is now back on line:

• 2294, 2,320, CLR, Holstein Federal 13-25H, Elm Tree, t11/16; cum 806KK 4/20; came off line 11/19; back on line 3/20;

Another 3rd generation CLR monster well is now well above 500K bbs cumulative, crude oil:

• 31357, 1,102, CLR, Nashville 2-21H, Catwalk, 40 stages, 8.7 million lbs, t6/16; cum 510K 4/20; easily exceeding a 900,000 bbl-EUR type curve

This Slawson monster well went off line in January, 2020, with intermittent production since then; it may be coming back on line:

• 31278, 4,862, Slawson, Torpedo Federal 10H, Big Bend, t12/18; cum 567K 4/20; TD: 25,490 feet; see this post;    

A Three Forks, first bench well:

• 19296, 2,388, SHD, Golden 22-31H, Deep Water Creek Bay, TF Bench 1, 62 stages, 15 million lbs, t3/15; cum 781K 4/20;

And, we'll close with this one:

• 30541, 4,871, Bruin, Fort Berthold 151-94-26A-35-4H, t6/18; cum 661K 4/20; 

Re-Posting: Saudi's Highly Successful Effort To Flood The US With Oil -- June 19, 2020

One of my favorite posts this past week: Saudi Arabia's plan to flood the US with oil was highly successful. A contributor to oilprice agreed:

• how Saudi Arabia caused the worst oil price crash in history; link here.

If Russia Is Happy With $50-Oil, Saudi Is In Deep Doo-Doo; Iraq Is In Even Worse Shape -- June 19, 2020

This is really, really cool.

Earlier today I posted:

Saudi breakeven: from "lower for longer," oilprice:

Normally, a forced production cut in U.S. shale would have been enough for a price rebound to levels that would allow the Gulf economies’ budgets to break even.

It is this breakeven that is important to them, not production costs that are notoriously the lowest in Saudi Arabia.

For all these low production costs, Riyadh needs $78.30 a barrel of Brent to clear its budget, and $58.10 a barrel of Brent to clear its current account.

And things are not much different for its Gulf neighbors.

Russia: happy with $50-oil. 

OPEC basket, today, link here: flat at $37.70.

What makes this so "cool," and interesting is the fact that back on June 12, 2020, I did my own calculations based on public data provided by Saudi Arabia and others, and came up with these figures:

Saudi called for a 2020 budget based on $110-oil when that budget released in late 2019.

Revised budget and revenue projections in early 2020 moved their target to $84-oil.

My hunch: my figures are closer to "reality" than others.  But even if not, $58.10 is a bit of a jump from $40, and the latter is far below $80.

I wonder if Art Berman pays attention to these numbers. But I digress. CLR is happy enough with these numbers to resume production.

Friday, June 19, 2020

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.

AAPL: pre-market trading, AAPL just hit its all-time intra-day record high of $355.40 before falling back to $355.30. Gonna be an interesting day. This is Friday, isn't it, going into a weekend?

Saudi breakeven: from "lower for longer," oilprice:

Normally, a forced production cut in U.S. shale would have been enough for a price rebound to levels that would allow the Gulf economies’ budgets to break even.

It is this breakeven that is important to them, not production costs that are notoriously the lowest in Saudi Arabia.

For all these low production costs, Riyadh needs $78.30 a barrel of Brent to clear its budget, and $58.10 a barrel of Brent to clear its current account. And things are not much different for its Gulf neighbors.

Russia: happy with $50-oil. 

OPEC basket, today, link here: flat at $37.70.

*******************************

Buffett Spreadsheet

	Airline	Shr Price: 3/31/2020	Dollars: 3/31/2020	Shares	Shr Price: June 19, 2020	Total: June 19, 2020
	DAL	28.53	675,000,000	23,659,306	31.58	747,160,883
	UAL	31.55	675,000,000	21,394,612	40.44	865,198,098
	AAL	12.19	675,000,000	55,373,257	16.92	936,915,505
	SWA (LUV)	35.61	675,000,000	18,955,350	36.46	691,112,047
			2,700,000,000			3,240,386,533
	AAPL	254.29	2,700,000,000	10,617,799	355.42	3,773,777,970
						533,391,437
						3,240,386,533
						16.46%
March 24, 2020		224		10,617,799		2,378,386,881
6/19/2020		355		10,617,799		3,769,318,495
						1,390,931,614

After Being Off Line For Almost A Year, A Zavanna Usher Well Comes Back Strong -- June 19, 2020

The well:

• 24696, A, Zavanna, Usher 28-21 1H, Poe, t1/18; cum 250K 3/20; off line from 4/19 to 1/20; I assume this was the well holding the lease by production; see this post;

The Zavanna Usher / Stranger wells are tracked here. 

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2020	30	10313	8369	21873	12594	11660	487
BAKKEN	3-2020	31	12819	11589	29882	20333	18166	1705
BAKKEN	2-2020	27	3129	2702	17340	47571	36946	10193
BAKKEN	1-2020	10	133	117	2347	6022	1190	4683
BAKKEN	12-2019	0	0	1	0	0	0	0
BAKKEN	11-2019	2	0	0	4032	30	0	0
BAKKEN	10-2019	0	0	0	0	0	0	0
BAKKEN	9-2019	0	0	0	0	0	0	0
BAKKEN	8-2019	0	0	0	0	0	0	0
BAKKEN	7-2019	0	0	0	0	0	0	0
BAKKEN	6-2019	0	0	0	0	0	0	0
BAKKEN	5-2019	0	0	0	0	0	0	0
BAKKEN	4-2019	7	3197	4391	2334	6558	5755	699
BAKKEN	3-2019	27	8856	8526	7768	19386	13905	1393
BAKKEN	2-2019	28	7944	6990	8687	20910	13770	182
BAKKEN	1-2019	22	4697	3843	6746	16280	9362	506