Four DUCs Reported As Completed; Six Permits Renewed; WTI Surges Back To $81+ -- November 5, 2021

WTI: $81.27. Surged 3.12%; up $2.46; closed at $81.27. Apparently:

• traders watched Brandon's Secretary of Energy laugh when she was asked about high gasoline prices; and,
• Saudi laughed when Brandon told "them" (OPEC+) they need to produce more oil when it is actually Brandon who is trying to minimize US imports of Canadian crude oil; and,
• traders noted that the US Congress is threatening to "sue" US oil companies for "threats to humanity."

Aaron Rodgers: liar, liar, pads on fire. Said he was immunized. Apparently not against Covid-19.

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Back to the Bakken

Active rigs:

$81.27	11/5/2021	11/05/2020	11/05/2019	11/05/2018	11/05/2017
Active Rigs	32	13	55	65	55

No new permits.

Six permits renewed:

• EOG (4): four Mont permits in Williams County
• Resource Energy Can-AM: one Ranger permit in Divide County
• North Range Resources: one Placid permit in McKenzie County

Four producing wells (DUCs) reported as completed:

• 37195, 787, Slawson, Mauser Federal 6-18-17H,
• 37196, 636, Slawson, Mauser Federal 8-18-17TFH,
• 37197, 1,577, Slawson, Mauser Federa 5-18-17H
• 38191, 678, Ovintiv, Rolfsrud 152-96-29-32-14H,

The NDIC lists 32 active rigs in North Dakota. I have not reviewed the list.

Huge Tease -- This Weekend I Will Post The Definitive Answer To The Week's Most Pressing Question -- November 5, 2021

The question: 

If you were fully invested in CLR (financially or emotionally or however you want to define "fully invested") would you have been happy with this breaking development, that CLR invested in the Permian, in this way, to this degree.

The blog has a reader and correspondent whose credentials are unsurpassed by anyone when it comes to shale oil.  

The individual has provided one of the longest original epistles I have ever received on any subject. The correspondent weighs in on CLR's entry into the Permian.

It will take me awhile to digest his/her comments. But once I have (digested it), I will post my answer to the above question. 

Which gives me an idea, time for a new poll.

Closing out the current poll in which I asked how many rigs you think there will be in North Dakota a year from now (August 22, 2022)?

• 40 - 49: 38%
• 30 - 39: 34%
• <30: 12%
• 50 - 60: 9%
• over 60 active rigs: 7%

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Taking A Break

Week 44: October 31, 2021 -- November 6, 2021

Photos of the week:

• The Brandon supply chain surcharge surfaces.
• Last minute trick-or-treating instruction. Priceless.
  

Graphic of the week:

• Saudi is back!

Top story of the week:

• Resident Biden visits the Pope. Meeting longer than expected; rumors?
• CLR's Woodrow Star "A" is back on line.
• Boom: ISM manufacturing literally off the chart.
  

Top international non-energy story:

• Global CO2 emissions revised notably downward; no one notices.
• Saudi is back!
  

Top international energy story:

• Saudi to Brandon: "You do your job; we'll do ours."
• European energy crisis: it's not even winter yet.
• Russia, Germany, Gazprom, natural gas, and all that jazz. Putin turns off natural gas to Germany.
  
• China releasing gasoline, diesel from reserves.
  

Top national non-energy story:

• "The war is over." Pfizer announces immediate availability of anti-Covid medication.
• Jobs data is incredible -- as in great.
• US equity markets on a tear. And, here; and, here. And, here. And, here. The roaring '20s. And, here.
  
• Off-year elections: GOP surprises. 
• Senator Joe Manchin positioning himself for a 2024 presidential run. 
• Logjam at LA prots: worse after Brandon got involved.
  

Top national energy story:

• CLR enters the Permian. Says it cost them $8,000 / acre. And, here. And, here.
  
• US shale operators reporting incredible 3Q21 production and financial results;
• Gas-to-liquids story (Pennsylvania, Texas); 
• Maine says "no" to huge transmission line to bring electricity to Boston;
• WTI closes above $81 when OPEC says: "Do your job, we'll do ours," to Brandon.
• US crude oil days of supply exceeds four weeks.
  

Top North Dakota non-energy story:

Top North Dakota energy story:

Geoff Simon's top North Dakota energy stories:

• Quick connects.
  

Operators:

• Devon: whoo-hoo!
  
• Bonanza Creek is now Civitas.
  
• CLR on an acquisition binge; most recent: $3.25 billion for 92,000 net acres in the Permian.
• EOG: raises quarterly dividend by 72%; declares a $2.00 special dividend.
  

Operations:

Wells:

• CLR's Woodrow Star "A" is back on line.
• Frank, an old Whiting well seems to be coming back on line.
• An old Whiting Flatland Federal well goes over 600K bbls crude oil cumulative;
• MRO takes the Juanita pad off line.
• An old Petro-Hunt Charlson well trending toward one million bbls crude oil cumulative, one section;

Halo effect:

• An old Petro-Hunt well.

Fracking:

Pipelines:

• Is the DAPL at risk of being superfluous?
• IEA: Line 3, huge success; may cut need for CBR; huge story;
  

The Bakken economy:

• The Chinese are coming to Grand Forks.

Commentary: 

• The Permian is the global swing producer.
  
• The five stories to follow in November.
• The stories to follow.
• Yes, Virginia, they can drill a well in ten days.
• Global crude oil demand and supply.

Apple:

• Loses market cap record to MSFT.

Three Peas In A Pod -- November 5, 2021

I posted a link to this article (see below) some days ago and said I would get back to it, and I will, but I just haven't had time. So much is happening. 

After posting the link, several readers have sent me the same link suggesting they missed my post and/or they want me to post my thoughts on the article. 

Until I get back to the article for comments, here is the link to that article (again) and two other articles along the same line, or as I call them, three peas in a pod.

Recently:

• World Pipelines: the Bakken is over-hyped. November 4, 2021.
  

• The American West at Risk: the Bakken is over-hyped, June 25, 2010.
  

• Snopes: the Bakken is over-hyped. Originally published September 17, 2008 and updated March 10, 2011.
  

Actually, I'm re-thinking this. I've talked about the Bakken for over a decade. It's not worth my time to address the most recent article. If folks can't figure this out on their own, I'm certainly not going to be change their minds; for the others, I'll simply be preaching to the choir, as they say in Rugby. 

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Pfizer Anti-Viral Story Is Incredible

I don't think folks realize how incredible this is and it's all based on AI (artificial intelligence). Once the whole story is told ... 

... this was only possible due to the politics of Covid-19. This has absolutely revolutionized genetic research. 

Meanwhile, in the US, more vaccinations are being given than ever before. Prior to the Biden mandate, the number of vaccinations given on any weekday were trending toward 600,000. Now, after the Biden mandate, the number of vaccinations given on any weekday are trending toward 1.2 million, or a doubling. 

It will be interesting what happens to the rate of vaccination administration once the new Pfizer drug becomes routinely available. 

The Friday data has not yet been published by the CDC. 

One more virus these boys won't have to fear. Two peas in a pod.

The 2024 Presidential Leaderboards Are Starting To Take Shape -- November 5, 2021

Democratic leaderboard for the 2024 presidential election is starting to take shape:

• VP Kamala Harris
• Senator Joe Manchin
• Tom Steyer (yes, he's back -- this was the #1 story on the Yahoo!Finance page today)
• Beto (as heir to the RFK political machine he has the Texas Irish vote locked up)
• AOC / Ill-Hand Omar -- with a half-brain each, they hope 0.5 + 0.5 = 1
  

Likewise, the GOP leaderboard for the 2024 presidential election is also starting to take shape:

• Ed Durr (NJ GOP senator-elect)

Las Vegas odds as the leaderboards stand now: 

• Ed Durr : Kamala Harris --- 50-to-1 in favor of Durr ($1 on Durr gets you $50 if Harris wins)
  
• Ed Durr: Senator Joe Manchin -- even money
• Ed Durr: Tom Steyer -- 1,000-to-1
• Ed Durr : Beto -- 100-to-1 
• Ed Durr: AOC / IHO -- to infinity and beyond
  

Tea leaves: if Ed Durr stumbles, Joe Manchin could jump to the GOP ticket. 

Tom Steyer:

Isn't Tom "ultra-rich"? Maybe just "filthy-rich."