Is The Bakken Back? February 2, 2021

Active rigs in North Dakota as reported by the NDIC: 14

Rigs by operator:

• MRO: 4
• CLR: 2
• WPX: 1
• Slawson: 1
• Whiting: 1
• Petro-Hunt: 1
• Oasis: 1
• Hess: 1
• Ovintiv: 1
• BR: 1

Using a 1:4 ratio: this equates to 64 active rigs during the boom ten years ago. 

Five of those rigs are in the reservation. Only 12 rigs are seen on the map.

If I have time, I will sort this out later.  

Rig	Operator	Well Name and Number	Current Location	County	File No	Start Date
H & P 454	CONTINENTAL RESOURCES, INC.	Rodney 5-29H	NENW 32-147N-96W	DUN	37376	1/26/2021
CYCLONE 38	CONTINENTAL RESOURCES, INC.	Gale 8-32H1	NWNE 32-147N-96W	DUN	37399	1/31/2021
NABORS B27	WPX ENERGY WILLISTON, LLC	Dakota 1-36HUL	SWSE 1-149N-93W	DUN	37830	1/28/2021
H & P 516	Ovintiv Production Inc.	KESTREL 154-96-33-28-10H	SESE 32-154N-96W	MCK	34333	1/17/2021
NABORS B6	BURLINGTON RESOURCES OIL & GAS COMPANY LP	F JORGENSON 1E TFH	SESW 11-151N-97W	MCK	37479	1/18/2021
UNIT 414	SLAWSON EXPLORATION COMPANY, INC.	ZEPHYR FEDERAL 3-36H	LOT3 1-151N-93W	MTL	36121	1/24/2021
PATTERSON 808	WHITING OIL AND GAS CORPORATION	Littlefield 41-2HU	LOT1 2-152N-92W	MTL	37599	2/1/2021
H & P 492	MARATHON OIL COMPANY	Herman USA 24-31TFH	SWSE 31-151N-93W	MTL	37673	1/27/2021
H & P 259	MARATHON OIL COMPANY	Perry USA 41-6TFH	LOT1 6-150N-93W	MTL	37773	1/30/2021
NABORS X10	MARATHON OIL COMPANY	Norman USA 11-5H	SWSW 32-151N-93W	MTL	37778	1/31/2021
T&S DRILLING 1	MARATHON OIL COMPANY	Kulland USA 41-4TFH	LOT1 4-150N-93W	MTL	37790	2/1/2021
H & P 515	PETRO-HUNT, L.L.C.	State 158-91-16C-9-3H	SESW 16-158N-91W	MTL	37889	1/31/2021
NABORS B13	OASIS PETROLEUM NORTH AMERICA LLC	Borden Federal 5300 34-36 8B	NESE 36-153N-100W	WIL	34234	1/29/2021
NABORS X28	HESS BAKKEN INVESTMENTS II, LLC	CA-RUSSELL SMITH- 155-96-2425H-10	NWNE 24-155N-96W	WIL	36768	1/25/2021

 

Off The Net For Awhile -- Good Luck To All -- February 2, 2021

Notes From All Over, The Late Morning Edition -- February 2, 2021

Memo to Georgia voters:

• Biden promised $2,000 checks on first day in office if his Dems elected in Georgia
• closing in on a month later:
• Biden's starting position: $1,400
• GOP's starting position: $1,000; link here;
• "Most Gullible Voters Ever" Award goes to .... the Georgia voters.

Booze delivery:

• Uber acquires on-demand alcohol marketplace Drizly for $1.1 billion

Daily metrics:

• 10-year Treasury: breaking out; up 3 basis points; solidly above 1.1%; hits 1.11%;
• DXY: recovers bigly; now above 91 again;
• silver: crashes! down almost 9%; drops below $27;
  

Business model problems?

• BP reports massive loss for 2020, link here;
• BP: poster child for oil company pivoting to renewable energy; owns a lot of EV charging stations; whoo-hoo!

Notes From All Over -- Apple Car Could Partner With GM -- Source -- February 2, 2021

Local: will trend toward 80°F this week; what's not to like. No snow forecast for north Texas.

Oh!-lena:

• crushes New Jersey; snowfall measured in feet, not inches
• could bury NYC in two feet of snow; updates here;
  
• snowfall will go on all day; through nightfall; 
• in Pennsylvania, three bodies were found in an apparent murder-suicide linked to a dispute over snow shoveling on Monday, as Storm Orlena ...
• next storm on its way -- yet unnamed; will arrive midwest later this week 
• Cincinnati: previous record low, 11°F; this storm will dip into single-digit
• global warming smacks the east -- not "cold" but arctic;
  

Apple:

• Apple Car to use Hyundai's E-GMP battery electric platform; link here;
• Apple: GM partnership also possible
• Apple TV+: record weekend viewers with Palmer launch; finally; link here;
• Apple Card: will go joint; allow for multiple people to use same Apple Card account
• Apple ports: still the biggest Apple computer story in past few day -- adding more ports to the new MacBook Pro -- eliminate need for all those dongles

Tesla:

• recalls roughly 135,000 vehicles over screen failures; link here;
• system simply runs out of memory space
• unable to fix it "over the air"
• so, now, every six years, not only do the batteries need to be replaced but the operating system needs to be replaced
• might as well replace the model every six years whether one wants to or not
• TSLA shares: up $34; up 4% on this news of a massive recall;
  

Silver Plummeting -- Down 6%; WTI Up 2.54%; Trending Toward $55 -- February 2, 2021

Silver, link here, at 6:28 a.m. CT, February 2, 2021:

• down 6.16%
• down $1.813
• trading at $27.605

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

Active rigs:

$54.91	2/2/2021	02/02/2020	02/02/2019	02/02/2018	02/02/2017
Active Rigs	14	54	64	57	40

One well coming off confidential list today -- Tuesday, February 2, 2021: 3 for the month, 36 for the quarter, 36 for the year.

• 32852, PNC, BR, Remington 1A MTFH, Blue Buttes,
  

RBN Energy: breadth of midstreamers' portfolios help shape their fates in tough times.

For many midstream companies, the experience of the past 12 months has been akin to falling down a flight of stairs. The fortunate sit at the bottom — stunned a bit, with arms and legs akimbo — and gradually determine that they’re generally alright, and that they’ll be more careful next time. The less lucky? They’re banged up and bloodied, and maybe headed to the ER and, after that, weeks of physical therapy. But were the “fortunate” really just lucky? Or were they in better shape, more athletic, more prepared for any eventuality? And what about companies when they’re hit hard with a sudden, negative shift in market conditions, out of the blue? Today, we discuss highlights from the second part of East Daley Capital’s 2021 edition of Dirty Little Secrets report, which examines the assets and outlooks of 26 leading midstream companies. We’ll focus on two representative midstreamers: Energy Transfer and EnLink Midstream.