More Whiting Wold Wells Are Coming Off Confidential List This Week -- September 29, 2020

Wold Wells (Whiting, Sand Creek).

More Whiting Wold wells in Sand Creek are coming off confidential list this week. Today:

• 34661, drl/A, Whiting, Wold Federal 44-1-1TFH, Sand Creek, t--; cum 82K 7/20; a 34K month;

Production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2020	24	12777	12789	15607	35466	35151	315
BAKKEN	6-2020	30	21069	21158	17873	58800	58616	184
BAKKEN	5-2020	31	33921	34171	28981	64596	64405	191
BAKKEN	4-2020	8	14250	13813	15878	40151	38988	977
BAKKEN	3-2020	1	37	0	0	325	325	0

From the file report:

• spud date: October 27, 2019
• cease drilling: November 8, 2019
• target: the Three Forks B1 member
• TD: 10,285.51' ("point 51 feet" = 6.12 inches)
• lateral:
• first day of drilling: November 4, 2019; drill rates averaged 280 to 335 feet per hour
• into the morning of the second day, November 5, 2019, the rig reached bottom after a trip for a new BHA
• trip gas: 5,184 units; with a 5' - 10' flare
• the wellbore on the second day of the lateral section averaged 233.8 feet/hour
• TD reached at 2140 hours on November 8, 2019, finishing just into the top of the second bench of the Three Forks
• entered Three Forks at 10,471' TVD
• ten-foot target window; top set at 22 feet below the Three Forks top; assuming the wellbore would have been near the middle of the formation, maybe a seam 40' thick or so?

My hunch is that with oil prices this low, operators are not maxing out initial production.

New permits added May 17, 2018, SESE 1-153-97 are now starting to report production: 

34914, SI/NC-->SI/A, Whiting, Wold Federal 44-1-3H, Sand Creek,

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2020	26	20893	20853	21688	70571	69945	626
BAKKEN	6-2020	25	25145	25180	16904	78214	77969	245
BAKKEN	5-2020	31	29661	29965	21934	86410	86155	255
BAKKEN	4-2020	8	15054	14632	10651	31018	30120	755
BAKKEN	3-2020	2	78	0	0	841	841	0

34915, SI/NC-->SI/A, Whiting, Wold Federal 44-1-3TFH, Sand Creek,

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2020	20	14315	14319	14234	46020	45612	408
BAKKEN	6-2020	30	22087	22111	20687	71826	71601	225
BAKKEN	5-2020	31	25115	25235	24252	72278	72065	213
BAKKEN	4-2020	8	8621	8335	12629	29710	28850	723
BAKKEN	3-2020	1	0	0	0	694	460	234

34916, SI/NC-->conf, Whiting, Wold Federal 44-1-4H, Sand Creek

Date	Oil Runs	MCF Sold
7-2020	18086	57420
6-2020	18556	59759
5-2020	26461	76419
4-2020	12447	30346

Notes From All Over With Item On ND Flaring -- September 29, 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. 

Dividend calendar: 119 ticker symbols -- go ex-dividend today. Link here. With commission-free trades, this has been the most fun I've had in years. Taking a small portion of my portfolio and "re-balancing" simply on dividends every month. I'm probably not making any money but it provides a bit of cash for other long-term investments which really interests me. 

Survey of consumer finances (SCF): the rich keep getting richer. Actually, more to the point, the investing class keeps getting richer. Link here to the Board of Governors of the Federal Reserve System.

Entertainment: I've been binge watching Leverage for the past few nights, starting about 11:00 p.m. and going well into the wee hours of the morning. I am just blown away by the iPad. And the  Pencil. The ads are annoying, but one can effortlessly "shrink" the picture into the corner, and then open another video, let's say Schitt's Creek on Pop. Both are free -- Pluto Television and Pop. Or if not interested in another television show, check my mail or any other site. When the add is over, bring Leverage back to full screen. And it's completely effortless, especially using the  Pencil. 

Speaking of the  Pencil, Sophia absolutely loves using the pencil when she is learning Spanish on Duolingo. She can't wait to get to the apartment complex to start using Duolingo. Biggest problem. Temporarily losing the pencil several times a day. Can't wait until Apple release air tags or whatever they're going to be called.

CBR: Alberta to Alaska. It's in the news again; Trump supports it. I won't link it; the story doesn't have legs. Pie in the sky. 

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For The Archives: ND Flaring

From Geoff Simon's top North Dakota energy stories last week:

The North Dakota Industrial Commission approved revisions this week to the state's gas capture policy that don't change gas capture targets, but do tweak the regulations to encourage additional investment to allow the state to meet its gas capture goals.

Producers are currently required to capture 88% of produced natural gas, a target that will increase to 91% as of November 1. Thanks in part to the recent market downturn, producers are now capturing 92% of gas produced in the Bakken.

Lynn Helms, director of the Department of Mineral Resources, noted that producers also exceeded capture targets in the previous oil price downturn five years ago, but couldn't keep pace when growth resumed, so it's important to adjust the rules to make sure producers continue to meet capture targets.

 

Helms said the changes, which include removing exemptions in some areas while tightening restrictions in others, are the byproduct of extensive dialogue with the industry. He said there is general agreement among all parties that revisions are appropriate.

Graphic:

One Well Coming Off Confidential List -- September 29, 2020

First things first: last night's football game should end the debate regarding the two best quarterbacks in the NFL. But it won't. Link here. From what I've read, Kansas City Chiefs schooled the Ravens.

Later: watching the sports talk television this morning -- wow, it's fun to watch these guys -- I love the guy that says he's not a "Dak apologist" and then goes on to defend Dak. As I noted earlier, the Dallas Cowboys are 1 - 2 in the season but lucky they are not 0 - 3. They can argue all they want about Lamar Jackson (Ravens) and Patrick Mahomes II (Chiefs) but no amount of spin will change the game played last night. Dak apologist: if the Cowboys lose, it's the fault of the defense; if the Cowboys win, it's because of Dak. LOL. 

A day later: the day after the Kansas City / Baltimore game, the "Monday-morning sports shows -- and the re-running of the videos -- until today I had never seen Lamar Jackson in a post-game interview: is it just me or does he look incredibly effeminate? Reminds me of Michael Jackson. His hairstyle? Seems confused. I did not know this: he was the MVP of the league? Say what?

And then this: German inflation drops to a negative 0.4%; forecast: -0.1%. Inflation? Some call that deflation. Link here. Very, very interesting. Divergence between theory and actual?

Furniture: office? Herman Miller may need a new business plan.

• Manhattan offices are nearly empty -- WSJ link here.
• Herman Miller waits for employers to step up new furniture orders. Could be a long wait. WSJ link here.

Apple: surprised! Social media favors Apple over Fortnite in Epic battle. Link here. 

Cheniere: Blackstone closes $7 billion Cheniere sale. Link here.

California ban on gasoline-powered cars: EPA skeptical. WSJ link here.

OPEC basket, link here: $41.61. Down again.

New book review: The New Map, Daniel Yergin, 2020. Link here. Doesn't buy into renewable energy hype. I'm impressed.

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Back to the Bakken

Active rigs:

$40.38	9/29/2020	09/29/2019	09/29/2018	09/29/2017	09/29/2016
Active Rigs	11	57	67	58	34

Only one well coming off confidential list:

Tuesday, September 29, 2020: 146 for the month; 217 for the quarter, 663 for the year

• 34661, drl/A, Whiting, Wold Federal 44-1-1TFH, Sand Creek, t--; cum 82K 7/20; a 34K month;

RBN Energy: my favorite subject. US ethane exports rise with international steam cracker demand. Wow, I thought this was a dead subject. LOL. Archived here.

The run-up in U.S. production of natural gas liquids over the past 10 years spurred the development of a whole lot of infrastructure. More pipelines to transport mixed NGLs from production areas to NGL storage and fractionation hubs, especially Mont Belvieu, TX.

More fractionators to split y-grade into ethane, propane, and other “purity” products. And, specifically for ethane — the lightest, quirkiest, and most plentiful NGL — a number of ethane-only steam crackers were built along the Gulf Coast to take advantage of the new supply abundance, as were ethane-only pipelines, export terminals, and a whole new class of cryogenic ships — Very Large Ethane Carriers, or VLECs — to move the product to markets in Europe and Asia.

Today, we begin a new series on the unique nature of overseas ethane exports, including why most incremental export volumes are tied to long-term supply deals with a handful of global ethylene plants designed — or reconfigured — to “crack” ethane.

A Shout-Out To Amazon -- September 28, 2020

A shout-out to Amazon. Amazon just does everything right.

I wanted to order another obscure item from Amazon that I had ordered sometime in the past three years but couldn't remember the specifics. I went back to Amazon (on-line). Amazon keeps track of everything one has ordered and makes it incredibly easy to scroll through the list. WhichI did, and I found the $7.84 item I was looking for.

And, that was it. 

Except just below it was another item that I had previously ordered -- a much more expensive item, at about $60 but an item that I needed to buy again. I had forgotten all about it, but there it was. So, there you have it. I was simply looking for a $7.84 item and ended up ordering about $70 worth of "stuff."

Absolutely amazing. And both items will be here this week. With Prime the items should be here tomorrow or Wednesday, but they won't get here until later in the week: this suggests to me they are simply overwhelmed with orders.

Wow, That Was Fast -- Running Out Of Fingers / Toes -- September 28, 2020

 Link to the Daily Mail.

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GM Announces
Another $71 Million Investment In Ohio

Link to Detroit Free Press.

General Motors said Monday it will invest $71 million into two manufacturing plants in Ohio.

The investments, which GM said would help it retain 240 jobs, include $39 million at the company's Toledo transmission plant and $32 million at its Defiance casting plant, according to an announcement from the company.

"The Toledo investment will be used to upgrade and enhance the production of GM’s eight-speed rear-wheel-drive transmission and the Defiance investment will be used to prepare the facility for future engine casting components work," the company said.

The news comes on the same day the state tax agency in Ohio ordered GM to repay $28 million in tax incentives connected to its former Lordstown Assembly Plant, according to The Columbus Dispatch.

GM, which made its Cruze sedan at the plant until last year, sold the Lordstown plant to a company that plans to produce its electric Endurance pickup there. 

GM agreed as part of the Lordstown tax deal to invest $12 million in the area related to education and other programs. An unspecified amount of incentives were approved for a joint venture called Ultium Cells with South Korea's LG Chem to build a new battery cell plant in Lordstown. That $2.3 billion investment is supposed to generate more than 1,100 jobs.