Monday, July 25, 2022

Covid-19 -- July 25, 2022

So the question is, regarding President Biden and Covid-19:

  • did the vaccinations help; or,
  • is the Covid-19 sub-variant nothing more than a "common cold" — “the sniffles”?
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Advantaged Oil -- July 25, 2022

Advantaged oil: I've rarely seen this term used; I believe Shell was one of the first to use it -- several years ago. Hadn't see the phrase used much; I have a tag "advantaged oil" and was thinking of getting rid of it because I seldom saw it in use. Then today, I saw "advantaged oil" used again, but forgot to get the link. So, I get the term is still occasionally used. So, let's take a look: wow, this is simply amazing, and I completely missed it. Link here.

From March 30, 2021.

A complex mix of geologic factors is in play. Relationships between reservoir geology and performance are strongest when the data are filtered by region or resource theme. And it’s only by looking at a wide population of similar reservoirs that operators can benchmark recovery factors – and pick out an asset, portfolio or play that presents an opportunity.

The scale of that opportunity could be huge. Brazil, for example, has by far the largest in place oil volumes, yet lags other leading deepwater countries in terms of average recovery factor. The prize for increasing deepwater field recovery to match international benchmarks would be enormous.

What are the subsurface factors that matter?

Our analysis focuses on three selected examples of key reservoir parameters that correlate with oil recovery factors.

These are:

  1. Porosity
  2. Reservoir depth
  3. Gross depositional environment (GDE)

Globally, the average oil recovery factors for combined primary and secondary recovery are around 32%. Increasing the recovery factor of maturing projects could significantly boost the economics of a mature asset. We can see this illustrated in our exploration of these three key subsurface factors.

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An MRO Well In Reunion Bay With Nice Halo Effect -- July 25, 2022

A neighboring well, drilled in 2011, to the well below (#37283) showed a nice halo effect:

The older well:

  • 19514, 527, MRO, Jones USA 14-14H, Reunion Bay, t4/11; cum 730K 5/22; period of interest:
BAKKEN7-201931116461154966461564177666466
BAKKEN6-201930111151107864041502164777296
BAKKEN5-2019311079910816642415031345410567
BAKKEN4-2019301120911185736814264252410685
BAKKEN3-20193112821128051260616243387011348
BAKKEN2-20192813030130351838818162549511691
BAKKEN1-2019311384413820319631558954899150
BAKKEN12-2018136870680218265660733212866
BAKKEN11-201814034395864034397
BAKKEN10-201883648360815270493904928
BAKKEN9-20180000000
BAKKEN8-20181220110
BAKKEN7-2018001260000
BAKKEN6-201826159716733492446195099
BAKKEN5-2018312352241828534332773149
BAKKEN4-2018302648260830733842548283
BAKKEN3-2018312603258537834122587278

The new well:

  • 37283, drl/A-->AL/A-->5,810, MRO, Marion USA 44-10TFH, t9/20; cum 217K in 2.5 months;  cum 267K 12/20; cum 451K 5/21; cum 495K 8/21; cum 572K 3/22; cum 584K 5/22; full production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH5-20223169886928992729582260222506
SANISH4-20222344824216488425505227602074
SANISH3-20223178867941685137693365320
SANISH2-20222883918336697440125389580
SANISH1-20223111191115541081341753402500
SANISH12-2021311267612404110224458742612378
SANISH11-20213012193122131034546760415183677
SANISH10-2021311172811810929255080535230
SANISH9-202130129241279493945148049046826
SANISH8-2021241192411991723336394340091460
SANISH7-2021311552615389762953782525480
SANISH6-20213016789167471013157442561480
SANISH5-2021312149221795130356463762124948
SANISH4-2021302605425939173046605963853403
SANISH3-2021313761137500219097525572303503
SANISH2-20212851347515032662685579824110
SANISH1-20213047626475693586768519643851174
SANISH12-20202250286501645295265042606261392
SANISH11-2020789959186453913254113161391
SANISH10-20203168977689392715990000858240
SANISH9-202030110439110134565891378241303031077
SANISH8-2020152831927932199753012026611181

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Hess With Five New Permits -- July 25, 2022

Advantaged oil: I've rarely seen this term used; I believe Shell was one of the first to use it -- several years ago. Hadn't see the phrase used much; I have a tag "advantaged oil" and was thinking of getting rid of it because I seldom saw it in use. Then today, I saw "advantaged oil" used again, but forgot to get the link. So, I get the term is still occasionally used. So, let's take a look: wow, this is simply amazing, and I completely missed it. Link here.

Refiners: Link here to Charles Kennedy. 

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

WTI: $96.70.

Natural gas: $8.727

Active rigs: 46 or thereabouts.

New new permits, #39111 - #39115, inclusive:

  • Operator: Hess
  • Field: Manitou (Mountrail)
  • Comments:
    • Hess with five new EN-Hegland permits; in lot 3 section 5-155-94; 
      • to be sited between 703 FNL and 744 NFL and between 1448 FWL and 1574 FWL;
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What Do You Call It ... July 25, 2022

... unemployment rate at record lows, 3.6%?
... more jobs than people seeking jobs?
... so much demand for workers, they can strike for 10% wage increases?
... recessionary talk driving prices down across the board?
... gasoline prices falling?

Utopia? 

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