The Peregrine Wells In The City Of Williston, North Dakota -- April 29, 2022

Locator: 10010PEREGRINE.

Updates

March 26, 2023: it appears the three new Peregrine wells (#3880 - #38782, inclusive) have been drilled to depth. No production data as of January, 2023. FracFocus shows no data.

Original Post

The Peregrine wells:

• 33130, 1,220, Oasis, Peregrine 5401 42-24H, Todd, t10/17; cum 587K 8/22;
• 38782, drl, Oasis, Peregrine 5401 42-24 4B, Todd,1280-acre, sections 13/24-154-101;
• 38781, drl, Oasis, Peregrine 5401 42-24 3B, Todd,1280-acre, sections 13/24-154-101;
• 38780, drl, Oasis, Peregrine 5401 42-24 2B, Todd,1280-acre, sections 13/24-154-101;
  

In addition to these wells/locations, in the May, 2022, NDIC hearing dockets, Grayson Mill plans to put six more wells in this drilling unit but it will be a 1920-acre unit, sections 12/13/24-154-102.

Updated graphic, April 29, 2022:

The graphic:

August 25, 2019: the Osprey and Peregrine wells, for production data, see this post.

• 33130, 1,220, Oasis, Peregrine 5401 42-24H, Todd, t10/17; cum 430K 9/19; a huge well;
• 33499, 593, Oasis, Osprey 5401 44-34H, Todd, t10/17; cum 417K 9/19; a huge well;

Week 17: April 24, 2022 -- April 30, 2022

We begin:

From Leo Tolstoy's Anna Karenina:

"Happy families are all alike; every unhappy family is unhappy in its own way."

I see economic cycles the same way:

"Happy times are all alike; but every recession is different in its own way."

This next one begins with a shortage of diesel. We just don't know it yet.

Top story of the week:

• Joe Biden is still president.
• North Dakota's April blizzard shut in 60% of North Dakota crude oil production. And, here. And, here.
  
• US GDP went negative; a second consecutive quarter with negative GDP = a recession.  
• Putin's War continues.
• Out of the pandemic, April 27, 2022 -- Dr Fauci.
  

Top international non-energy story:

Top international energy story:

• Diesel is still the top international energy story; ULSD is new buzzword. Aviation.

Top national non-energy story:

• Equity markets: Ford and Amazon take huge loss due to Rivian.
• Amazon earnings here.

Top national energy story:

• Buffett makes huge investment in CVX. And, here.
• Update on SPR release.
  

Top North Dakota non-energy story:

• Another cryptocurrency data center in North Dakota?
  

Top North Dakota energy story:

• Cerilon GTL update.

Geoff Simon's North Dakota top energy stories:

Operations:

• Enerplus reports another huge well.
  

Operators:

• Empire North Dakota, LLC, getting active again.
• CLR with eight new permits.
• CLR increases dividend.
  

Wells:

• Update on Oasis Peregrine wells in the city of Williston.
• MRO starting to reports its Christoph pad. 
• Enerplus reports a huge Lynx well.
• The McGinnity E wells.
• The Enerplus winter fur pad wells are incredible.
  

Wells over 500K:

• Enerplus Fort Berthold.
• Petro-Hunt Van Hise Trust.
• EOG Wayzetta.
• Oasis Wilson Federal.

Fracking:

Halo effect:

• A CLR Kukla well in Chimney Butte.
• Random examples.
  

Natural gas:

Pipelines:

• A 250,000-bbl crude oil pipeline, Watford City, ND, to Baker, MT.

Bakken economy:

Commentary:

Headlines From Twitter -- April 29, 2022

The headlines:

• TC Energy beats profit estimates; expects LNG exports to grow 90%. 
• US solar industry warns of slowdown due to supply chain disruptions.
• XOM, CVX post big revenues, Wall Street shrugs (small mom-and-pop retail investors are going to beat the big Wall Street investors)
• CVX posted the highest quarterly earnings in almost a decade
  
• North American oil companies scramble to find workers despite boom
• Phillips 66's early 2022 turnarounds to end as gasoline driving season looms
• Gulf Coast fuelmakers are exporting a massive amount of diesel
• annualized total equity returns adjusted for inflation are worst since 1974
• Total Energies (one of my favorite companies) has started production of sustainable aviation fuel from a new plant at its integrated Normandy refining / petrochemicals platform in France
• I can't recall if I still hold shares in TTE;
• WTI: $250?
• Gazprom's European gas storage empties out. Think about that.
  
• North Dakota's oil output briefly plummeted to just 300,000 bopd day -- blizzard. Think about that. 
• ULSD (ultra-low sulfur diesel) now stands for ultra low-supply diesel
• physical New York diesel market is on fire, with prices surging > $250 / bbl oil equivalent; dieeseel is the workhorse of the global economy, the fuel of trucking, railway, shipping, heavy machinery and, don't forget, farming. If we have a recession; it begins here with diesel.
• after weeks of reluctance, Germany now backs a European Union plan to ipose a gradual embargo on Russian oil imports

I don't know if it will happen before Biden's first term [ends January 19, 2025] but within my investing lifetime, I am absolutely convinced there will be a crude oil supply / demand (crude oil shortage) that will be absolutely unprecedented. It will be global and worse than what the US saw during the OPEC embargo of 1973 - 1974. 

Why Didn't I Think Of This! LOL -- April 29, 2022

Link here.

One thing to make this a perfect evening: Casablanca on TCM.

Brilliant, Simply Brilliant! April 29, 2022

I posted this earlier:

********************************
Biden's Foreign Policy: Leading From Behind

A reader sent me a cartoon of Biden and his foreign policy. An anti-Biden cartoon.

My reply:

I have no idea what Biden's foreign policy is but actions speak louder than words. 

Ukraine is not scoring the successes we see reported each day without huge, unprecedented support from the US.

Biden is asking for an unprecedented $33 billion for Ukraine and to get it quickly, and he will get it. At least most of it. GOP will be crazy to vote against it.

Quick: who's running the US war in Europe?

• name the US president
• name the US VP
• name the SecDef: it's not Rumsfeld
• name the Pentagon's Chief of Staff: it's not Colin Powell
• name the US European commander: I have no idea
• name the Air Force commander in Europe (USAFE): I have no idea and if I don't know, no one except a few actually know and where do you think Ukraine is getting all their intel (drones and RC-135s)
• name the US combatant commander: it's not Stormin' Norman

Devil's advocate:

• if Trump were president, Trump would clearly be in charge;
• Trump would be a very, very visible Commander-in-Chief
• things would be a lot worse with Trump running the show

Just being a devil's advocate.

Now this. 

Trump would have thought of this weeks ago, but better late than never. I don't think folks know how big a deal this is. Fast-tracking citizenship for Russians. LOL.

First, Biden stole their yachts, now he's stealing their brains. LOL.