Wells Coming Off The Confidential List This Next Week -- March 14, 2021

Monday, March 22, 2021: 22 for the month, 78 for the quarter, 78 for the year.
36544, conf,  Zavanna, Blue Heeler 20-16 4H,

Sunday, March 21, 2021: 21 for the month, 77 for the quarter, 77 for the year.
37395, conf, MRO, Wallentinson USA 44-8H,

Saturday, March 20, 2021: 20 for the month, 76 for the quarter, 76 for the year.
37034, conf, Zavanna, Leopard 20-17 2TFH,
34653, conf, Petro-Hunt, USA 153-95-3D-10-5H,

Friday, March 19, 2021: 18 for the month, 74 for the quarter, 74 for the year.
None.

Thursday, March 18, 2021: 18 for the month, 74 for the quarter, 74 for the year.
None.

Wednesday, March 17, 2021: 18 for the month, 74 for the quarter, 74 for the year.
36096, conf, CLR, Gordon Federal 12-5H1,

Tuesday, March 16, 2021: 17 for the month, 73 for the quarter, 73 for the year.
37035, conf,  Zavanna, Leopard 20-17 3H,
36246, conf,  BR, Maverick 2E TFH,
36098, conf,  CLR, Gordon Federal 10-5H1,
36097, conf, CLR, Gordon Federal 11-5H,

Monday, March 15, 2021: 13 for the month, 69 for the quarter, 69 for the year.

• 37036, conf, Zavanna, Leopard 20-18 4TFH,

Sunday, March 14, 2021: 12 for the month, 68 for the quarter, 68 for the year.

• None.

Saturday, March 13, 2021: 12 for the month, 68 for the quarter, 68 for the year.

• None.

Three Stories To Start Your Day -- March 14, 2021

Day rates: Helmerich & Payne to change way it determines lease rates.

• Bakken revolution: from 60 days to 6 days to drill a horizontal well; a data point few talk about;
• cost to drill and complete a well:
• at one time, drilling / completing: about 50/50
• now, some suggest drilling, one-third of total cost; completion, two-thirds of total cost;
• what is not said, the total cost to drill / complete a well may be around 60% of what it was during the boom

Shell's shale sale: say that quickly fifty times; it seems I've posted this before; can't remember; link here;

• buyer: Calgary-based Crescent Point, a common name in the Bakken;
• $707 million deal
• for sale: Shell's Kaybob Duvernay assets for $550 million in cash and 50 million Crescent Point common shares
• assets: about 35,000 boepd by 2Q21
• latest in a string of western Canadian deals:
• Seven Generations Energy Ltd and ARC Resources Ltd agreed to merge;
• Tourmaline Oil Corp purchased rivals Jupiter Resources Ltd and Modern Resources Inc, last fall
• earlier, the much larger deal in which oil sands producer Cenovus Energy Inc took over Husky Energy
• Crescent Point: free cash flow in 2021 -- between $300 and $475 (US)
• Shell, which sold most of its oil sands operations in 2017, said this sale allows it to focus on its "core" upstream positions such as the Permian
  

Oxymoron: OXY's Permian output slump drives millions in midstream losses. Link here. 

The decline in Occidental Petroleum Corp.’s oil production in the Permian Basin has left the company with so much unused capacity on pipelines to the Gulf Coast that the problem will drive a midstream loss of as much as $750 million this year.

Occidental said Tuesday that total Permian production is expected to be about 485,000 barrels of oil equivalent a day this year, well short of the 800,000 barrels of pipeline space it’s committed to. That means the company needs to buy the balance elsewhere, adding to costs.

Occidental has long held more pipe space than it needs from the Permian, in the hope that its shale business would eventually grow big enough to make use of it. But last year’s oil-price crash, and, more recently, the winter freeze in Texas, caused the company to cut investment and production in an effort to prioritize near-term cash flow for debt reduction. That has left its pipeline position exposed.

Reminder:

• Biden XL doesn't matter; western Canada oil supplies to reach record highs;

Gasoline Demand -- It Doesn't Quit -- This Will Be The Story Through 2021 --- March 14, 2021

Gasoline demand should have more room to run considering traffic is still down 15% in the most congested cities in the US. Link here.

Traffic has been insane: this is just the beginning. The "re-opening" is going to be so violent it's going to be hard to do things. Link here.

• went to Houston zoo and Hermann Park yesterday; had to park miles away because both were completely full and coned off; note: Houston was worst hit city in Texas with regard to the pandemic;
• lack of power, water never stopped "us" from driving
• Uber was surge pricing all night
• spring break incoming! Schlitterbahn time

Missoula, MT -- Best Place For Singles To Live -- Money Magazine -- March 14, 2021

As I've said often on the blog, I don't buy into these lists, but they are always fun to read.

This one: the best places to live for singles -- seven cities that are fun, friendly, and affordable ... as we get back to normal -- posted over at Money just a few weeks ago, February 12, 2021:

At the link, there is an interactive map. Beware. It's an ad. Not part of the article. But it's very, very misleading. 

The list of seven cities. 

1. Missoula, MT

I think I will quit there. For the rest of the list, go to the link.

Oh, why not:

4. Portland, OR.

7. Santa Fe, NM.

*************************
Related

Missoula housing prices surge as realtors say out-of-state buyers flock to Montana, October 4, 2020, link here. 

 

Montana's "zoom boom" demand for housing may be here for years, MissoulaCurrent, February 8, 2021, link here.

Median housing prices jump across western Montana, NBC-Montana, just a few weeks ago, February 18, 2021, link here.

• Montana continues to see shocking real estate numbers, even in historically slower months for the industry.
• In the first 45 days of 2021, in Missoula, the median housing prices went from $324,100 in 2020, to $419,535, a jump of more than $95,000.
• The Flathead saw a jump, too, though not as significant of an increase as Missoula. Comparing the window between January 1, 2021, and February 15, 2021 the median sales price went from $320,000 in 2020 to $390,000 in 2021. The amount of sales increased also, from 181 in that time period in 2020 to 231 in 2021.

Bottom line: folks are fleeing states that will be most affected by global warming. LOL. 

Flashback, July 29, 2019 -- Is The Bakken At Risk For A Pipeline Overbuild -- RBN Energy

Link here.

If DAPL shutdown were to occur:

• CLR says it would not be affected; doesn't ship on the DAPL;
• CLR says it would affect Bakken light sweet by $1 - $2 / bbl:
• operators shipping on the DAPL have contingency plans ready to go, posted yesterday; some operators are already booking CBT (crude by truck) -- a third-world option.
  
• CBR: wow -- again -- CLR says a DAPL shutdown would impact Bakken oil by $1 - $2 / bbl

For me, shutting down the DAPL will be a "psychological / emotional" phenomenon more than anything else.

Most interesting to me:

• DAPL is getting more press than the situation regarding Brent. 
• Brent: trending toward production less than amount of oil that would be carried by DAPL + DAPL expansion.

CBR: look at that capacity. Blows me away.

• look at all the jobs a DAPL shutdown would provide
• reminder: BNSF generates 25% of all Warren Buffett's Berkshire Hathaway's revenue
• I assume there are CBR options for Enbridge pipelines at risk running between Canada and the US;