Random Update Of Another Re-Fracked MRO Bailey Oil Field Well -- Great Re-Frack -- June 4, 2018

The well:

• 17315, 377, MRO, O'Neil 24-24H, Bailey, t7/09; cum 321K 4/18;

Compare production following re-frack production after original frack. 
 
Monthly Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2018	30	7592	7732	3545	9019	5023	3007
BAKKEN	3-2018	31	9353	9229	4474	11202	9391	628
BAKKEN	2-2018	27	9403	9337	4611	10652	9168	323
BAKKEN	1-2018	31	10055	10192	6527	9994	7384	1372
BAKKEN	12-2017	25	13839	13687	7199	13700	8515	3573
BAKKEN	11-2017	11	4557	4769	2384	4128	3216	368
BAKKEN	10-2017	31	16527	16601	8953	15352	13007	393
BAKKEN	9-2017	30	19332	19205	11033	17448	15203	0
BAKKEN	8-2017	31	22702	22766	14982	17944	14653	680
BAKKEN	7-2017	27	20878	20693	18871	11485	5240	3873
BAKKEN	6-2017	22	5819	5736	4559	4020	3044	252
BAKKEN	5-2017	21	14528	14573	9868	11060	8988	393
BAKKEN	4-2017	0	0	0	0	0	0	0
BAKKEN	3-2017	0	0	0	0	0	0	0
BAKKEN	2-2017	18	594	601	243	884	671	49
BAKKEN	1-2017	31	908	966	261	1007	724	0
BAKKEN	12-2016	31	1047	1051	255	1018	682	38
BAKKEN	11-2016	30	953	951	240	904	604	18

Production data after original frack:

BAKKEN	4-2010	25	1876	1814	287	526	377	0
BAKKEN	3-2010	27	1674	1643	205	1017	855	0
BAKKEN	2-2010	28	2092	2137	280	1121	953	0
BAKKEN	1-2010	31	2500	2537	325	1467	1281	0
BAKKEN	12-2009	31	2802	2785	442	1528	1528	0
BAKKEN	11-2009	30	3461	3464	483	1955	1955	0
BAKKEN	10-2009	11	859	726	371	361	361	0
BAKKEN	9-2009	28	2833	3226	341	1355	1355	0
BAKKEN	8-2009	31	5460	5185	880	2512	2512	0
BAKKEN	7-2009	17	5175	4885	1097	2080	2080	0

Random Update Of A BR Croff Well With Jump In Production -- June 4, 2018

The well:

• 17297, 525, BR, Croff 1-2 H, Croff, t8/08; cum 251K 4/18: FracFocus without any evidence of re-frac; #33143, one-thousand feet away, running parallel, was fracked 10/17;

Recent Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2018	30	3860	4205	875	4112	4038	0
BAKKEN	3-2018	31	4547	4229	736	4621	4544	0
BAKKEN	2-2018	15	2576	2578	365	1705	1535	133
BAKKEN	1-2018	28	4540	4662	493	2790	2720	0
BAKKEN	12-2017	31	6268	6518	715	6428	6351	0
BAKKEN	11-2017	15	3587	3012	625	3494	3339	118
BAKKEN	10-2017	1	0	0	0	0	0	0
BAKKEN	9-2017	1	1	0	0	0	0	0
BAKKEN	8-2017	14	559	919	50	761	726	0
BAKKEN	7-2017	30	1155	908	104	1588	1514	0
BAKKEN	6-2017	30	1142	1140	111	1541	1467	0
BAKKEN	5-2017	31	1192	1390	121	1613	1536	0
BAKKEN	4-2017	30	1142	914	103	1660	1586	0
BAKKEN	3-2017	31	1257	1326	125	1549	1472	0
BAKKEN	2-2017	28	1141	1175	132	1252	1182	0
BAKKEN	1-2017	29	1349	1602	104	563	491	0
BAKKEN	12-2016	28	1174	901	115	1212	1121	21

The Market, Energy, Polictical Page, Page 2, T+4 -- June 4, 2018

The pipeline is full: US Colonial Pipeline line 34 fully allocated for first time in its history. Link here. Data points:

• exclusively ships jet fuel
• carries jet fule to BWI
• nominations come out of Dorsey, MS

Stockton? Not again. See this post. Apparently the city learned how to spend other people's money -- even when it ran out. Doing it again: a “no strings” guaranteed basic income of $500 a month for its residents.

Interesting, tit-for-tat: China could buy more US coal to settle the trade imbalance. Consider the source. Overheard: China threatens to add a 25% tariff on soybeans; already a 3% tariff and a 13% value-added fee on soybeans (thus 16% "tariff" as President Trump pointed out). I think the new 25% tariff on soybeans would be directed against the US only.

Schultz is out at Starbucks. Eyes "public service." It's pretty obvious that he was also making a public announcement. Oh, by the way, Biden will run again for president. Hillary might as well jump in, assuming her back can take it. Bill is finding his stride, again: a #MeToo victim.

AAPL: market cap -- $943 billion. Today's high: $193.42.

• 4.92 billion shares
• $1 trillion / 4.92 billion = $203.25 / share 

UNP: I assume UNP's drop in share price today was due to concerns about NAFTA.

I just love this president. Right, wrong, indifferent -- this president doesn't kowtow to protocol or for political correctness. Disinvites the entire NFL Super Bowl team because some players can't find it in their hearts to respect the flag. Whatever. It sounds like the GSW won't be going to the White House either once the NBA championship is decided. [Later, 3:42 p.m. June 5, 2018: neither team will visit the White House, regardless of whom wins.]

Four New Permits -- June 4, 2018

Bakken Flooding

Bakken flooding: from The Williston Herald --

Missouri River levels continue to run high, with snow melt from Montana pushing its way down the Yellowstone, and the river is walking its way out of its banks in several locations. Farm fields have been flooded, and even a parked vehicle or two has been caught unaware by the rising water levels.

The river level Friday afternoon at the Lewis and Clark Bridge was 24.47 feet, and was expected to gradually climb to 25.1 feet by early next week. Flood stage is 22 feet.

The rise is mainly due to mountain snowpack in Montana, rather than rain, according to meteorologists. Todd Hamilton is with the National Weather Service in Bismarck.

A bit later than usual? Great fishing! Great boating!

*********************************************

Back to the Bakken

Active rigs:

$65.89↓↓	6/4/2018	06/04/2017	06/04/2016	06/04/2015	06/04/2014
Active Rigs	61	51	25	81	193

Four new permits:

• Operators: Hess (3); WPX
• Fields: Manitou (Mountrail); Spotted Horn (McKenzie)
• Comments: Hess has permits for a 3-well EN-Dobrovolny pad in section 24-155-94;

And that was all.

The Market, Energy, Political Page, T+500 -- June 4, 2017

T+500: President Trump says this is his 500th day in office, and rightfully suggests he has been the most "productive" president in modern history. Hard to argue with that.

Law: Wow, "you don't have to bake that cake if you don't want to." This seems incredibly common sense. It's amazing the US Supreme Court had to act on this. 7 - 2. But, there are still "larger" issues to address. That's fine.  Common sense plus a ruling of 7 - 2 really makes one wonder about the "legal thinking" of two of the justices. Imagine if I had walked into a bakery and asked for a cake with a request for an incredibly obscene graphic to be placed on it, and told the baker she had no choice: that she had to provide that incredibly obscene graphic.

Permian: I just happened to catch a few minutes of CNBC. Looks like operators in the Permian are taking a hit. This was another open-book test. Short-term, scary. Long-term, exciting. Another buying opportunity.

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Apple developers' conference: what has impressed me so far -- "group FaceTime." Up to 32 people can be on FaceTime event at same time. Teenagers are going to love this. One could easily apply this to daycare centers. Amazing. Up to 32 "tiles" -- one for each participant but 31 "tiles" miniaturize when the "talking icon" enlarges to fill much of the screen.  This is simply conference calling but knowing Apple it will be seamless -- no calling an operator to "link" everyone in. No calling ahead. Just simply calling in / clicking in and seamlessly becoming part of the 32-person group.