The September, 2020, NDIC Hearing Dockets

The NDIC hearing dockets are tracked here.

Link here.

The usual disclaimer applies. As usual this is done very quickly and using shorthand for my benefit. There will be factual and typographical errors on this page. Do not quote me on any of this. It's for my personal use to help me better understand the Bakken. Do not read it. If you do happen to read it, do not make any investment, financial, job, relationship, or travel plans based on anything you read here or think you may have read here. If this stuff is important to you, and I doubt that it is, but if it is, go to the source.

Highlights in bold.

Wednesday, September 16, 2020
Two Pages

 

The cases (these are cases, not permits):

• 28551, NDIC, Grinnell-Bakken; review the status of leases in sections 30 / 31, within the 2560-acre spacing unit, sections 29 / 30 / 31 / 32-154-96, progress toward developing said sections 30 / 31; McKenzie, Williams counties;
• 28552, Oasis, SWD, Siverston oil field;
• 28553, BR, Sand Creek-Bakken; 30 wells on a 2560-acre unit, sections 31 / 32 / 33 / 34 - 153-96, McKenzie County;
• 28554, BR, Westberg-Bakken; 15 wells on a 1280-acre unit, sections 5 / 8 - 152-96, McKenzie County;
• 28556, MRO, Reunion Bay-Bakken, 18 wells on a 2560-acre unit; sections 28 / 29 / 32 / 33 - 152-93, McKenzie County;

Thursday, September 17, 2020
Three Pages

 

The cases (these are cases, not permits):

• 28557, NDIC, Elidah-Bakken, appropriate spacing for wells completed in the 2560-acre unit, sections 18 / 19 / 30 / 31; McKenzie County
• 28558, WPX, McGregory Buttes-Bakken; establish an overlapping 1280-acre unit; sections 14 / 15 - 148-94; ten wells; Dunn County;
• 28559, Nine Point Energy, pooling,
• 28560, CLR, pooling,
• 28561, RIM Operating, commingling;

September, 2020, NDIC Dockets Have Posted; Koda Resources With Three New Permits; Whiting Reports A Huge Alger Field Well -- August 20, 2020

September, 2020, dockets have been posted. I'll get to them later this evening. Link here.

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Back To Today's Daily Activity Report

Active rigs:

$42.58	8/20/2020	08/20/2019	08/20/2018	08/20/2017	08/20/2016
Active Rigs	12	63	58	53	32

Three new permits, #37796 - #37798, inclusive:

• Operator: Koda Resources Operating
• Field: Hanks (Divide); Bar Butte (Divide); Fertile Valley (Divide)
• Comments
• Koda Resources has thirteen oil and gas permits in North Dakota (link here), including these three; and one SWD permit;
  
• Koda Resources has three new permits for wells to be sited on the same pad in SWSW 34-160-102, Divide County; they are all 275' FSL and about 300" FEL; one Porter well will be in Hanks oil field; one Porter well will be in Bar Butte oil field; and, the Stout oil well will be in Fertile Valley oil field;

Nine permits were renewed:

• Petroshale (6): a Bowie Federal (MB) permit; a Boone Federal (MB) permit; a Carson Federal (TF) permit; a Clark Federal (TF) permit; a Crockett Federal (TF) permit; and a Lewis Federal (MB) permit, all in McKenzie County, all in NWNW 30-149-95;
• Resource Energy Can-Am (3): a Grays State permit; a Curtis permit; and, a Marshall permit, all in Divide County;

One producing well (a DUC) was reported as completed:

• 36235, SI/A, Whiting, Lindseth 11-1HU, API: 33-061-04437, Alger, t--; cum 182K 6/20; two 32K month; one 37K month; a big well;

Notes From All Over -- The Mid-Day Edition -- August 20, 2020

Big story of the day: Apple quietly acquired Israel's Camerai, formerly Tipit, a specialist in AR and camera tech. Link here.

Sometime between 2018 and 2019, the iPhone giant reportedly acquired and shut down Camerai, an augmented reality and computer vision company based out of Israel, which used to be called Tipit.Calcalist said that the startup sold for several tens of millions of dollars. 

From being founded in 2015, Camerai had raised around $5 million — including a $2.5 million round in 2017 and another unreported $2.5 million in 2018. 

It seems that the acquisition came on the heels of multiple approaches from a number of companies at a time when AR was arguably at a peak of hype and many big tech companies wanted a piece of the action. (Recall that 2018 was the year when Magic Leap raised nearly $1 billion in a single round of funding.) 

Back in 2018, we heard rumors that those approaching and looking at the startup included Apple, Samsung, and Alibaba. 

The Calcalist report said that Camerai employees joined Apple’s computer vision team, and that the company’s technology has been incorporated into Apple products already. It’s not clear specifically where and when, but recall that both iOS 13 and iOS 14 have featured big software updates to the camera.

The market, what a huge turnaround! Very, very negative pre-market and at the open, all three indices are not green, and AAPL is within two dimes of hitting another "decade": $470/share.

Battle royale: Lyft will suspend operations in California at midnight tonight, 11:59 p.m., Thursday, August 20, 2020. All eyes are on Uber. Thousands of drivers will lose any income they might have had. Thousands will lose income that kept food on the table. Watch for domestic violence to increase with these unemployed (mostly) men home with nothing to do. Not even any decent sports.

Other stocks I like to follow for various reasons:

• UNP: down quite a bit over the past two days, is still negative but barely and is now trading above $190 again;
• IMUX: down almost 4%;
• SRE: down 1.4%
• PFE: up 0.64%; trading at $38.51;
• JNJ: up a bit, trading at $151 in round numbers;

A Closer Look At A Whiting Fladeland Three Forks Well -- August 20, 2020

Disclaimer: in a long note like this there will be typographical and content errors. If this is important to you, got to the source.

The well:

• 35872, AL/NC, Whiting, Fladeland 13-10TFH, Sanish, t--; cum 49K 6/20; fracked with 8. 5 million gallons of water (moderate frack; typical of what we're seeing in the Bakken now); 88.4% water by mass, also typical in the Bakken right now; the Fladeland wells are tracked here;
  

File report, selected data:

• spud: May 15, 2019
• cease drilling: May 24, 2019
• TD: 10,273.44' TVD
• target: Three Forks, not otherwise specified;
• mudlogging services began: 7:05 a.m. CDT, May 17, 2020
• KOP reached: 5:30 a.m. CDT, May 18, 2019 (less than a day to drill the vertical)
• lateral: resumed drilling at 2:45 a.m., May 20, 2019
• target window: 10' thick (about a third of the thickness seen for middle Bakken targets (?); set 17' below the base of the lower Bakken formation; if the target was mid-formation, then thickness of Three Forks here was about 34' -- about the same as the middle Bakken;
• oscillated along the target window; then this: "... at this point in the wellbore that the wellbore dropped down to the base of the Three forks package and rubbed shoulders with the aquitard for a brief 150' of section before getting pointed back up towards the target window again."
• continued to "bob up and down from the center of the target window
• a trip made at 10:15 p.m. May 21, 2019, resumed drilling at 12:25 p.m. May 22, 2019;
• again, oscillating along the target:
• another trip required for a failed mud motor, 4:00 a.m. May 23, 2019; drilling resumed at 7:10 p.m. May 23, 2019;
• cease drilling at 3:25 a.m. CDT, May 24, 2019;
• so, lateral started at 2:45 a.m. CDT, May 20, 2019, reaching TD at 3:25 a.m. CDT, May 24, 2019, but required two trips, and probably about 36 hours of delay; about 2.5 days drilling time
• so, again, about a day to drill the vertical; twelve hours to drill the curve; and two to three days to drill the lateral; compare with 30 - 60 days in the early days of the boom; no wonder oil services companies like Schlumberger and Halliburton struggling financially;

Production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2020	30	11309	11293	25508	11277	11162	102
BAKKEN	5-2020	31	12149	12124	29925	15291	15126	150
BAKKEN	4-2020	30	12225	12237	36326	14138	13890	235
BAKKEN	3-2020	31	11868	11818	28023	10855	9165	1680
BAKKEN	2-2020	4	1117	1110	4073	1592	0	1590

Notes From All Over -- August 20, 2020

Updates

11:47 a.m. CDT: Apple quietly acquired Israel's Camerai, formerly Tipit, a specialist in AR and camera tech. Link here. And, here.

Original Post

AMC: to re-open 100 theaters today.

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.

Markets: on down days for the market like this it will be interesting to see what these stocks do:

• AAPL: at opening, held; up 17 cents; now up, $1.10; now, up $1.65 -- an hour into trading AAPL "surges" -- up another $5.37  /share; up 1.16%; this is going to drive the GE/NBC/CNBC talking heads nuts; after all, the P/E is 35 (compare TSLA at 978; paying dividends; and no announced buybacks); and the market cap for Apple is $2.003 trillion;
• AMZN: P/E - 125; no dividend;
  
• JNJ: at opening, down very, very slightly;
• UNP: at opening, down, now trading below $190;
• SRE: at opening, down a dollar;
• XLNX: at opening, down a dollar; 

Early morning:

• Dow cuts early losses, now down only 21 points; wow, what a turnaround;
• NASDAQ: up 24 points; wow;
• S&P 500: absolutely flat; could be green before the day is over;