MRO Reports Another Huge Well In The Sanish-Antelope -- April 27, 2021

Record IPs in the Bakken: tracked here. 

The Jonah USA well is on the MRO Chauncy-Winona pad and is tracked here.

The well:

• 37089, drl/A, MRO, Jonah USA 11-2H, Sanish-Antelope, first production, 1/21; t--; cum 101K in less than two months; 33-053-09248; 52,960 bbls over 17 days extrapolates to 93,459 bbls of crude oil over 30 days, and, of course, there's a bit of natural gas, also.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	2-2021	27	52306	52147	22546	71870	68076	3624
SANISH	1-2021	17	52960	52503	18639	48605	40526	7967
SANISH	12-2020	5	175	171	193	726	0	716

The geologist's report is yet to be scanned in. Spacing unit: 1280 acres. 

FracFocus:

• fracked 11/22/20 - 12/3/20;
• 8 million gallons of water;
• 45.1% fresh water by mass;
• 38.7% produced water by mass;

I've been told daughter wells don't do as well as parent wells in the Bakken.

Memo to self: look up the parent well.

This Is Another Second Bench Three Forks Well -- April 27, 2021

Record IPs in the Bakken: tracked here.

The Daniel USA well is on the MRO Chauncy-Winona pad and is tracked here.

The well:

• 36221, drl/A, MRO, Daniel USA 11-2TFH-2B, Sanish-Antelope, first production, 1/21; t--; cum 122K in less than two months; 33-053-08982; 84,000 bbls over 25 days extrapolates to 100,806 bbls of crude oil over 30 days, and, of course, there's a bit of natural gas, also.
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	2-2021	26	37780	38063	20542	51002	48236	2646
SANISH	1-2021	25	84005	83278	50812	121157	91845	29058
SANISH	12-2020	2	188	184	426	1195	0	1185

The geologist's report is yet to be scanned in. Spacing unit: 1280 acres. 

FracFocus:

• fracked 11/22/20 - 12/2/20;
• 8 million gallons of water;
• 52.7% fresh water by mass;
• 30.9% produced water by mass;

The Market Notes Continue -- April 27, 2021

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. 

OKE: Zacks here and press release here.

• earnings beat estimates;
• EPS: 86 cents/share vs 79 cents forecast;
• one year ago: earning of 83 cents; that was the last quarter before the Covid lockdowns began;
• shares have appreciated 30% since the beginning of the year compared to the S&P 500's gain of 125;
• company raises guidance;
• increases the diluted EPS midpoint to $3.02
• pays 7.4%; P/E: 36
  
• but look at this -- if I'm reading / reporting this correctly, this almost boggles the mind; look at CAPEX:
• three months ended March 31, 2021: $177 million
• three months ended March 31, 2020: $950 million
• this caught my attention because I've talked about this before;

Earnings reports scheduled for tomorrow, Wednesday, April 28, 2021, of the 265 scheduled a few interest me; I hold shares in only four of the following:

• AAPL: after market close;
• YUM:
• F:
• BA (Boeing):
• CLR:
• NSC:
• HES:
• FB:
• QCOM:
• Ovintiv:

Notes From All Over -- Early Evening Edition -- April 27, 2021

Natural gas: EU admits it can't "go net-zero" without natural gas. Link here.

Let's assume he's telling the truth: what is he saying? Link here. 

News we won't see on ABC Nightly News tonight: Germany sees it as the coldest April in 104 years; the second coldest since 1881; and the snowiest since 1986. Link here. 

And AMD? I haven't read the report yet but AMD was down 0.23% during the day and after hours it surged 3.85%, up $3.28; trading just below $90. That speaks volumes. Before looking at the AMD report, what did XLNX do? Whoo-hoo! XLNX popped after hours, up 3.4%, up $4.50; and trading at $138. So, let's go back to AMD. Don't you just love the phrase "smashes first-quarter estimates"? LOL. Link here. And on top of that, "guided higher."

• adjusted EPS: 52 cents vs 44 cents
• sales: $3.45 billion vs $3.21 billion forecast;
• y/y: earnings "rocketed" 189% and sales almost doubled;
• with Apple's M1 / M2 chip, and now AMD/XLNX, one really has to take another look at Intel
• also, Texas Instruments posted better-than-expected results; reporting today, also;

MSFT: apparently the earnings report was superb, but the stock closed flat and then, after hours, dropped 2.5%, dropped almost $7; trading at $255. Same thing could happen to AAPL tomorrow.

MRO With Two New Permits; WTI Flirts With $63 At The Close -- April 27, 2021

Captain Obvious: I haven't read the article yet. I just saw the headline. Reminder: I recently said that California's decision to ban fracking and eventually end all oil production in the state was political theater and entirely irrelevant.  

Let's see what Tsvetana Paraskova has to say; again I have not read the article yet; let's read it together. 

• first of all, it's a fairly long article;
• she agrees: the ban on fracking will have little impact on US oil production, or even on California production, apparently;
• then a bunch of stuff we already know
• then this: California's average price of regular gasoline, at $4.00 / gallon on April 26, 2021, is the highest in the United States;
• California was the third-largest US state by refining capacity in early 2020, but more than half of the crude oil was supplied by Saudi Arabia, Iraq, Ecuador, and Colombia;
• California is the second largest consumer of petroleum products among all US states;
• California accounts for ten percent of the US total petroleum products consumed;
• and then the article ends, simply saying, a total ban on oil production in California would simply result in lost jobs and increased dependence on production from foreign countries (not from the US)

WTI: up today; on news that OPEC won't open the spigots; Saudi Arabia will stay the course.

*************************************
Back to the Bakken

Active rigs:

$62.94	4/27/2021	04/27/2020	04/27/2019	04/27/2018	04/27/2017
Active Rigs	16	30	64	62	48

Two new permits, #38277 - #38278, inclusive:

• Operator: MRO
• Field: Werner (Dunn County)
  
• Comments:
• MRO has two new permits in Werner oil field, NWNE 27-146-92,
• Kisse will be sited 883 FNL 1568 FEL; and,
• Videlius will be sited 883 FNL 1608 FEL

Three permits renewed:

• NP Resources: three Elkhorn Ranch Federal permits, all in Billings County;

Four producing wells (DUCs) reported as completed:

• 36221, drl/A, MRO, Daniel USA 11-2TFH-2B, Sanish-Antelope, astonishing / staggering results: see this post;
  
• 36357, drl/A, Slawson, Gunslinger Federal 9-12-1TFH, Sand Creek, no production data,
  
• 36360, drl/A, Slawson, Gunslinger Federal 10-12-1TFH, Sand Creek, no production data,
• 37089, drl/A, MRO, Jonah USA 11-2H,Sanish-Antelope; a huge well; see this post;