Ethiopia Failing In Meeting Its Goals To CO2 Emissions -- May 8, 2019

On June 12, 2015, this was posted:

Ethiopia will cut carbon emissions by two-thirds by 2030. Really? This is news. From AFP:

Ethiopia has set targets to slash carbon emissions by two-thirds within the next 15 years, the most ambitious goal so far presented to an upcoming UN climate change conference in Paris. 

LOL. Ethiopia could cut its carbon emissions by two-thirds if it quit sending a) negotiators to Paris; and, b) marathon runners to Boston.

Population of Ethiopia: 100 million.

Ethiopia's major source of CO2 emissions, burning a) camel dung; b) trees. By 2030 the country will be completely deforested and that will account for at least a third of the reduction. Another third will be achieved by creative accounting.

So, how is Ethiopia doing? Yes, there is an "emissions tracking" site. Ethiopia won't even come close to cutting emissions -- I've long forgotten why deforestation will lead to a reduction in CO2 emissions -- that may have been posted in error. Whatever.

For The Archives -- It Was Quite A Winter -- From February 8, 2019 -- Williston, North Dakota

I just happened to see this evening -- May 8, 2019 -- thought it worth posting for the archives.

Colonel (Ret) Phil "Hands" Handley Laid To Rest -- May 8, 2019 -- For The Archives -- Nothing About The Bakken

Link here. Colonel (ret) Phil "Hands" Handley laid to rest May 8, 2019, in the Dallas National Cemetery.

From YouTube:

Note: 500 feet above terrain, flying at / above the speed of sound.

Whiting -- This Page Is No Longer Being Update

Whiting (WLL)

• now tracked here.
  
• March 6, 2022: Oasis - Whiting merge. The new Oasis-Whiting will be tracked here.
  
• July 24, 2021: Whiting to acquire 8,752 net acres in the Sanish for $271 million; works out to about $31K / net acre. Whiting now with about 480,000 net acres. 
• six years of drilling activity in the Bakken with a 2-rig program
  
• April 1, 2020: files for bankruptcy; continues operations in the ND Bakken;
• 3Q19: corporate presentation; 34 permits recently canceled; third largest position in the Bakken with 471,000 net acres;
• 1Q19: fracking; parent-uplift; 1Q19 results; 1Q19 slides; archived;
• March, 2019: Generation 5.0 fracking and guidance for CY2019;
• 4Q18 and full year presentation: link  here. Total net acreage: 470,443 net acres.
• 2Q18: acquires 54,833 acres; $130 million; production at 103,480 boepd; total acreage now ~ 464,426 net ares; compare with about 800,000 acres for CLR in the Williston Basin;
• 2H18, forecast -- MarketRealist.
• 1Q18: 409,593 net acres; huge quarter; 
• February 12, 2018:  list of 101 wells transferred from Whiting to Rimrock Oil & Gas
• these are some very nice Whiting wells that were first permitted/drilled by KOG, Dunn County
• August, 2017: to sell 30,000 acres in Fort Berthold area. We'll see in next presentation if total acres in ND drops to about 403,000 acres
• December, 2016; 4Q16 presentation: 
• ND net acreage: 443,839 acres; 99% held by production; 90% in core areas of the Bakken
• development plan: 1280 acre units -- 5,334 gross drilling locations; targeting 900K to 1.5 million EUR wells in 2017  -- see the WLL EUR analysis;
• initial 90-day boepd for CY16: #1 among peers; 1200 boepd 90-day IP average, vs 1000 (Oasis); 800 (EOG); 700 (QEP); 700 (Hess); 600 (BR)
• December, 2016: 433,125 net acres
• November, 2016: 443,125 net acres
• 444,000 net acres; 5,500 potential gross drilling locations; October, 2016;
• 2Q16 Enercome Conference: 444,214 net acres in the Williston Basin; 99% held by production; 5,499 potential gross drilling locations as of June 30, 2016; targeting 900,000 boe EUR in 2016; plan to complte 60 gross wells in 2016 and project appr 22 DUCs at 12/31/2016.
• 4Q15 earnings transcript; about 455,000 acres in the Bakken after selling "a couple hundred thousand acres" in 2015; sold the Lewis and Clark play ($41 million; new owner looking to "do some other type of drilling there"); sold some of their western Bakken as well; does not seem to mention the 89,500 net acres sold to NP Resources (January 14, 2016, press release)
• Daily Activity report with the 78 wells Whiting transferred to White Rock Oil & Gas, LLC, January 28, 2016
• transfers 331 wells to five other companies, noted December 29, 2015; companies include Foundation Energy Management, LLC; Cobra Oil and Gas Corp; and, White Rock Oil and Gas LLC;
• 1Q15 earnings transcript;  774,022 net acres; sold non-core Bakken assets for $108 million;
• 4Q14: KOG deal with Whiting closes. Whiting owns KOG. KOG ticker symbol no longer for Kodiak Oil and Gas. 685,000 + 183,000  = 838,000 acres (MT and ND); 7,541 future gross drilling locations in Bakken and Three Forks; "control the sweet spots of central, eastern, and southern Williston Basin";
• 1Q14: 685,000 net acres; new fracking method -- "coiled tube";
• June 30, 2013: 697,259 net acres (corporate presentation)
• August, 2013: will acquire 17,282 net acres; $260 million; current production of 2,420 bopd, could knock off about $30 million for price paid; about $13,500/acre? in the Missouri Breaks and Hidden Bench prospects;
• 2Q13: Rocky Mts: 70,000 boepd; 
• 4Q12 transcript; 66,156 bopd (true bbls, not boe) from the Bakken; CEO says 700,000+ acres;
• November, 2012: NOG says 714,567 acres; proved reserves: 379 million boe; #1 oil producer in the Bakken; CLR is a close second (some lists may show CLR #1)
• 701,751 net acres (Bakken: ND and MT) 1Q12; based on additional 13,300 net acres acquired in March, 2012 (Missouri Breaks); additional 20,000 since end of 2011; average cost of all Bakken acres: $503/acre. 
• 681,504 net acres, source, CEO, February, 2012, presentation
• 680,137 net acres, source: CEO, October, 2011, presentation
• 678,248 Bakken acreage (SeekingAlpha, June 27, 2011) 
• 2Q12: goal - 160 net wells in core areas; added 4,000 net acres to Missouri Breaks;  each WLL rig now drills 12 wells/year (vs 10); pad vs stand-alone cost savings, $500K; ratio of 1.5 workover rigs to drilling rigs, looking to acquire 6 more workover rigs;
• Previous update: Net Bakken acreage (Montana + North Dakota): 580,000 net acres
• According to SeekingAlpha, May 3, 2011: 603,702 net acres
• Total acquisition cost: $141 million or $243/acre
• Net Bakken acreage, North Dakota only: 2Q12: 450,000 net acres; net in ND/MT, 697,259, July, 2013; net in ND and MT: 703,668 in 2013;  for July, 2013, acreage average cost: $549/acre; as of 12/31/2012, Whiting's acreage cost averages out to $521/net acre
• Sanish / Parshall Prospect: 82,400 in June, 2013; 82,533 in 2013; 83,011 net acres and 99 wells in 2010; 106 in 2011; EURs 450 - 950 (middle Bakken) and 400 mboe for upper Three Forks in the Sanish; 2Q12, only 22 stages for best well to date, the Smith 41-12H; initiated pad drilling in the Sanish; costs down $2 million/well --> $7 million/well in Williston Basin; 2Q12 -- maybe 50 more wells yet to drill in the Sanish;
• Lewis and Clark: 134,034, July, 2013; 134,114, June, 3013; 134,861 in 2013; was 128,370 net acres; Lewis & Clark NW of Belfield; 1 rig;
• Pronghorn: 128,596, July, 2013; 128,080 in June, 2013; 128,113 in 2013; was 121,403 net acres; Belfield area; TFS Exploration Drilling; Pronghorn is between Belfield and Dickinson;  5 rigs in the Pronghorn. 2Q12: ~ $6.5 million/well;
• Hidden Bench: 28,832, June, 20133; 28,556 in 2013; was 30,036 net acres; middle Bakken, TFS. 2Q12 -- "one of the very best projects in the company"; additional producing interval/payzone: the "Lower Bakken Silt" -- sits between the lower Bakken shale and the Pronghorn/Sanish sands; 
• Tarpon: 6,258, June, 2013; 6,265 in 2013; was 6,359 net acres; Watford City area; middle Bakken, TFS; Tarpon Federal 21-4H -- record IP in the Bakken
• Starbuck: 89,815, July, 2013; 91,228, June, 2013; 92,227 in 2013; 91,497 net acres; Montana, west of Williston; Middle Bakken; [prev 88K net acres];
• Missouri Breaks: 57,526, July, 2013; 65,481, June, 2013; 66,095 in 2013; was 62,000 net acres; Montana, west of McKenzie County; EURs - 350,000K
• Cassandra: 13,951, July 2013; 13,883, June, 2013; 13,816 in 2013; was 13,794 net acres; Ray area, east of Williston; Middle Bakken;
• Big Island: 125,795, July, 2013; 125,530, June, 2013; 122,389 in 2013; 121,673 net acres; Golden Valley County, southwest corner of ND; multiple objectives; earlier presentation 120K; 50 vertical well prospects (2Q12); all successful Madison wells; EURs of 250,000K; completion costs: $3.5 million; now drilling the Red River; 
• Other ND & MT: 28,719, June, 2013; 28,813 in 2013;
• 15 rigs in North Dakota; 1 rig only in Big Island; will increase to 24 rigs in the Bakken (ND/MT) -- 1Q12 earnings press release;
• $3 million-Red River non-fracked wells
• 716 de-risked locations; 10-year inventory; 
• Well cost: $7 million in the Pronghorn; $6 million in the Sanish; costs increasing;
• Will join CLR and BR in testing the 2nd bench of the lower Three Forks; Missouri Breaks was purchased based on potential of this 2nd bench;
• Production: 64K boepd

"Parent-Well-Uplift" -- The Slides -- Whiting -- May 8, 2019

Updates

May 9, 2019: see first comment. Well thought out; some good information. I'm going to move it to a stand-alone post for easier access. See this post.

Original Post

From Whiting's 1Q19 earnings presentation. 

Slides: