June, 2021 -- Production Data -- Director's Cut Posted

Updates

August 15, 2021, link here:

Original Post 

Link here. PDF will download. 

Disclaimer: the usual disclaimers apply. If this is important to you, go to the source.

Past "Director's Cuts" are tracked here.

NOTE:

• the price of North Dakota light sweet
  
• all-time record for number of producing wells in North Dakota
• the huge drop in the number of inactive wells
• the huge drop in drilling permits in July; the jump in drilling permits in June, 2021
• gas capture statewide vs FBIR
• seismic activity has stopped: zero active surveys; zero recording, four suspended; zero permitted

Comments:

• production increases slightly m/m (not statistically significant), but,
• rigs have not increased much; the rig count has remained pretty much steady over the past few months;
  
• DUCs unchanged m/m, and yet
• production increases slightly m/m (not statistically significant)
• production continues to exceed the revenue forecast
  

Oil production:

• June, 2021: 1,128,185 bopd (preliminary)
• May, 2021: 1,128,043 bopd (final)
• delta: irrelevant month/month

Revised revenue forecast: 

• 1.2 million bbls/day --> 1.1 million bopd --> 1.0 million bbls/day

Price: North Dakota light sweet:

• today: $62.52
• May, 2021: $58.28
• June, 2021: $63.62
• July, 2021: $58.50

Natural gas production:

• June, 2021: 2,982,583 MCF/day
• May, 2021: 2,981,592 MCF/day

Rig count (may include SWD rigs):

• today: 22
• May, 2021: 19
• June, 2021: 20
• July, 2021: 23

Permitted:

• July, 2021: 40
• June, 2021: 75
• May, 2021: 46

Completed:

• June, 2021: 47 (revised)
• May, 2021: 41 (final)
  

Inactive:

• June, 2021: 1,839
• May, 2021: 2,348
• delta:  509 net wells brought back on line m/m
• delta: 22% net increase
  

DUCs:

• June, 2021: 680
• May, 2021: 677
• m/m change: irrelevant
  

Producing:

• June, 2021: 16,825 (preliminary -- this is a new all-time high)
• May, 2021: 16,623 

Inactive wells, producing wells, and DUCs tracked here. 

Gas capture:

• statewide: 92%
• statewide Bakken: 92%
• FBIR Bakken: 89%
• gas capture goals: 91%

Daimler Truck Spin-Off Complete? -- August 13, 2021

Daimler investors should be receiving shares of its new truck division later this year? Link here.

FRANKFURT, July 30 (Reuters) - Daimler will keep a 35% stake in the trucks division it plans to spin off this year, the luxury carmaker said on Friday, giving more details on a landmark corporate split it hopes will boost share values.

The spinoff of Daimler Truck Holding AG as a separate listed entity, first announced in February, will be voted on by Daimler shareholders at an extraordinary general meeting on October 1, 2021.

They will receive one share in the trucks division for every two Daimler shares they own.

Daimler, in turn, will be renamed Mercedes-Benz Group AG to reflect its focus on the car and van business, including the Mercedes-Benz brand, and efforts to challenge Tesla and other rivals in the market for electric premium cars.

North Dakota Carbon Capture And Storage -- August 13, 2021

Updates

October 21, 2021: HartEnergy has the story, finally. And also at KFYR. 

North Dakota’s regulatory framework for geologic sequestration of carbon dioxide (CO2) is leading the nation again as the North Dakota Industrial Commission approved the first Class VI well in North Dakota on Oct. 19.

 North Dakota was the first state to receive primacy of Class VI wells from the US EPA in 2018, followed only by Wyoming in 2020.

Original Post

Re-posting:

North Dakota carbon storage: ethanol plant seeks to capture emissions. Amy R. Sisk. Key words:

• Richardton ethanol plant
• Red Trail Energy
• could be the first project in North Dakota that both captures and injects carbon emissions underground
• North Dakota and Wyoming are the only states that have assumed full permitting authority fro the EPA for carbon injection projects
• first  location: a well east of the Stark County plant targeting the Broom Creek rock formation more than 6,300 feet deep
• CO2 would form a plume in the pore space; 
• "supercritical" under high pressure and temperature
• CO2 to be trapped there forever; the nearest drinking water source lies 4,000 feet above the injection layer, but if it escapes, hey, we have carbonated water
• 90% of landowners with pore space in the project area have signed leases, meeting the state's 65% threshold for a project to move forward
• one carbon capture project has already operated for years within North Dakota at Basin Electric Power Cooperative’s Great Plains Synfuels Plant near Beulah. Carbon dioxide from the facility is piped to Canada where it’s injected into old oil fields to boost oil production

Notes From All Over -- August 13, 2021

Most fascinating energy story today: pay attention to the real crisis brewing. It's not crude oil. Link here.  

• East Texas and southeast spot natural gas hit seven-year summer highs in June. We're gonna see the same in July, August, and September.

$6 gasoline? We're there. Link here. The good news, credit card spending will increase; retail spending data will be higher in July, 2021, than it otherwise would have been. And think of all that cash back. LOL.

California grid: may "lean" on oil, natural gas to avoid summer blackouts. Link to Reuters. This has previously been reported, but apparently it was of enough interest, Reuters decided to post it again. 

California wind: profits hit by lack of ... wind. Link to Tsvetana Paraskova.  

North Dakota carbon storage: ethanol plant seeks to capture emissions. Amy R. Sisk. Key words:

• Richardton ethanol plant
• Red Trail Energy
• could be the first project in North Dakota that both captures and injects carbon emissions underground
• North Dakota and Wyoming are the only states that have assumed full permitting authority fro the EPA for carbon injection projects
• first  location: a well east of the Stark County plant targeting the Broom Creek rock formation more than 6,300 feet deep
• CO2 would form a plume in the pore space; 
• "supercritical" under high pressure and temperature
• CO2 to be trapped there forever; the nearest drinking water source lies 4,000 feet above the injection layer, but if it escapes, hey, we have carbonated water
• 90% of landowners with pore space in the project area have signed leases, meeting the state's 65% threshold for a project to move forward
• one carbon capture project has already operated for years within North Dakota at Basin Electric Power Cooperative’s Great Plains Synfuels Plant near Beulah. Carbon dioxide from the facility is piped to Canada where it’s injected into old oil fields to boost oil production.

Valeriana: Pemex halts drilling after new seismic analysis. Link here. 

Venezuela: reserves doomed to become the world's largest stranded asset. Link to Matthew Smith.

Social Security COL adjustments: could be largest in nearly four decades. COLA based on inflation data for July, August and September. No links; easily found.

Kabul: encircled. Link here.  

AAPL: technical charts suggest AAPL could soon test $150. Link here. The old "cup and saucer breakout." AAPL is down slightly today.

Personality of the month: Cathie Wood. This may or may not be behind a paywall. 

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The Next Big Thing

Uber of delivery. 

This is really cool. Back on November 24, 2013, I brought up "last mile same day delivery" as the "next big thing." It's hard to believe that LMSDD was actually a "thing." It's hard to believe that even made the list. LOL

Hold that thought. "Delivery wars: over one hundred Amazon delivery companies are banding together to form a new kind of challenger to UPS and FedEx. Link here.  

A new national last-mile delivery company has entered the market: the Frontdoor Collective. It's a coalition of more than 100 small delivery companies, most of which deliver for Amazon. Each Frontdoor Collective franchisee will have the opportunity to obtain equity in the company.

All four cofounders of the FRONTdoor Collective are Amazon delivery service partners (DSPs) and they have two former Amazon execs on the team as well. Every partner that joins the collective will be able to earn equity in the company.

One of the leaders is Penelope Register-Shaw, a vet of Amazon, FedEx, and Walmart who joined to resolve unfinished business. Delivering packages used to be a pathway to the middle class, she said. She thinks it could be again.

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New Listing

Friday The Thirteenth -- Take Care -- No Wells Coming Off The Confidential List -- August 13, 2021

Active rigs:

$68.67	8/13/2021	08/13/2020	08/13/2019	08/13/2018	08/13/2017
Active Rigs	23*	11	61	60	57

Rigs will be updated at close of business later today.

No wells coming off the confidential list. 

RBN Energy: US energy markets progress toward carbon capture solutions.

A couple of weeks ago, Shell announced a large-scale carbon capture and sequestration initiative at its Scotford refinery complex near Edmonton, AB. It’s one of the largest recent efforts to marry hydrogen production with CCS — an increasingly popular solution informally referred to as “blue” hydrogen. Shell is not alone.

Across North America, the idea of capturing carbon dioxide to clean up our collective act is quickly gaining momentum and support. Whether we’re talking about refineries, ammonia plants, steam crackers, ethanol plants, or any other carbon-generating industrial process, capturing the CO₂ — making the process “blue” — is seen by many as a way to make significant progress toward climate goals without over-burdening governments or consumers with the sky-high costs associated with some of the more technically challenging energy transition technologies. Today, we discuss the energy industry’s embrace of carbon capture solutions and how it could shape our energy future.