Thursday, July 28, 2022

Does Something "Bad" Happen If We Call "It" A "Recession"? July 28, 2022

It is what it is. 

I'm just going to sit here, watch the golf tournament, and explore some new Bakken wells. 

Good luck to all. 

Lots happening.

Some reminders to newbies to the blog:

1. At the top of the blog, the tab to the far left says "Welcome." It's also where you will find the full disclaimer for the blog.

2. Most important: this is not an investment site.

3. The daily posts are not important. It is the archives that are the most important and what the blog is all about. The archives are all at the sidebar at the right. I do daily posts to keep me from getting bored, but the important "stuff" is archived at the sidebar at the right.

4. I am (almost) always serious about the Bakken. No hidden agenda except that I am inappropriately exuberant about the Bakken. I post a lot of data about a lot of wells. I post the initial production data for absolutely every Bakken well. Every well. Readers constantly remind me that the good wells I report are not typical of Bakken wells.

5. I am not aware of directly investing in or directly holding shares in any pure-Bakken play company. It's possible I do -- but I don't recall directly investing in any pure-Bakken play company.

6. "The million dollar way" URL used to be simply "milliondollarway" but was changed to "themilliondollarway" several years ago. 

7. "The million dollar way" has nothing to do with investing. It refers to "US Highway 2" that led out of Williston, ND, when I was growing up. It was my literal and figurative road that I took whenever I left Williston. It was called "the million dollar way" by the locals due to automobile dealerships and oil service companies that lined the highway.

8. Comments are heavily moderated.

9. My posts are littered with typographical and content errors. I appreciate folks not telling me about typographical errors if they do not affect the content. When I find errors, I will generally correct them. If you read something that seems wrong, it probably is wrong. In those cases, go to the source to see what the "real" story might be.

10. The original blog was not monetized. Then, as a suggestion from one of my granddaughters I monetized the blog. I had no control over the ads. When I was slapped on the wrist by the blog app owner for something I posted or linked or who knows what, I discontinued the monetization. It wasn't worth the aggravation. I was never told what I posted violated "community standards." 

11. Anything else? I suppose, but this is as good a start as any. For the rest, see the full disclaimer.

Book Of The Week -- July 28, 2022

Parting shot: from what little I've read, the $369-billion climate bill is just fine. Not to worry. And the $250-billion "chip" bill. Total: $619 billion. I incorrectly said these two bills rounded to one-trillion dollars. I was not even close.

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The Book Page

Summer of reading tracked here.

This week, just arrived from Amazon today. "Free" with "points."

  • Fantastic Numbers and Where To Find Them: A Cosmic Quest From Zero To Infinity, Antonio Padilla, c. 2022; published July 26, 2022.

CLR Looking To Put In 18 Wells In Two Drilling Units -- July 18, 2022

See first comment and reply. The CLR Anna wells are tracked here. The CLR Anna wells are in a 1280-acre unit drilling unit to the east, sections 27/34-154-100.

From August, 2022, NDIC hearing dockets, screenshot of case 29535:

Thursday, August 25, 2022

Case 29535 (not a permit), CLR, eighteen wells -- 

  • Catwalk and/or Last Chance-Bakken
  • create/establish i) two overlapping 1920-acre units, sections 28 and 33-154-100 and section 4-153-100; and sections 29/32-153-100 and 5-153-100; eight wells on each of the two proposed overlapping 1920-acre unit, 16 wells; and, ii) an overlapping 3840-acre unit, sections 28/29/32/33-154-100 and sections 4/5-153-100; two wells or a total of 18 wells in this area 



August, 2022, Hearing Dockets Posted

Link here

The NDIC hearing dockets are tracked here.  

The usual disclaimer applies. As usual this is done very quickly and using shorthand for my benefit. There will be factual and typographical errors on this page. Do not quote me on any of this. It's for my personal use to help me better understand the Bakken. Do not read it. If you do happen to read it, do not make any investment, financial, job, relationship, or travel plans based on anything you read here or think you may have read here. If this stuff is important to you, and I doubt that it is, but if it is, go to the source.

Wednesday, August 24, 2022

Cases, not permits:

  • 29507, BR, Crooked Creek-Bakken; an overlapping 2560-acre unit; sections 15/16/21/22-143-97; one well; Dunn County;
  • 29508, Ovintiv, Ranch Creek-Bakken, a standup 1920-acre unit; sections 18/19/30-146-98; four wells; McKenzie County;
  • 29509, Oasis, Painted Woods and/or Ft Buford-Bakken; a standup 1920-acre unit, sections 1/12/13-153-104, four wells; Williams County.
  • 29510, Oasis, Painted Woods and/or Ft Buford-Bakken, an overlapping 3840-acre unit; sections 1/2/13-153--104 and sections 6/7/18-153-103; one well; Williams County.
  • 29511, Oasis, Painted Woods and/or Ft Buford-Bakken, an overlapping 3840-acre unit; sections 1/2/11/12/13/14-153-104, one well; Williams County
  • 29512, Oasis, Ft Buford-Bakken, a standup 1920-acre unit; sections 24/25/36-153-104, four wells; Williams County;
  • 29513, Oasis, Ft Buford-Bakken, an overlapping 3840-acre unit, sections 24/25/36-153-104 and sections 19/30/31-153-104, one well; Williams County
  • 29514, Hess, Tioga-Bakken; a standup 1920-acre unit; sections 2/11/14-157-95, seven wells; Williams County;
  • 29515, Hess, Tioga and/or West Tioga-Bakken, an overlapping 2/3/10/11/14/15-157-95-157-95; one well; Williams County.
  • 29516, MRO, Bailey and/or Lake Ilo-Bakken; an overlappinig 2560-acre unit; sectioons 17/18/19/20-145-93; one well; Dunn County
  • 29517, Hess, pooling,
  • 29518, Hess, pooling,
  • 29519, Grayson Mill Operating, commingling;
  • 29520, Oasis, pooling,
  • 29521, Oasis, pooling,
  • 29522, Oasis, pooling
  • 29523, Oasis, pooling,
  • 29524, Oasis, pooling,
  • 29525, Ovintiv, commingling,
  • 29526, Whiting, pooling,
  • 29527, Whiting, pooling,
  • 29528, BR, Crooked Creek-Bakken; a standup 1280-acre unit; sections 15/22-143-97; three wells; Dunn County;
  • 29529, BR, pooling
  • 29530, SWD
  • 29531, conversion, #8662, to freshwater well

Wednesday, August 24, 2022
Supplemental

Cases, not permits:

  • 29532, Louis and Allene Nelson, conversion of well (#13411) to freshwater well.
  • 29533, Leslie C and Shelly M Haugen, conversion of well (#15487) to freshwater well

Thursday, August 25, 2022

Cases, not permits:

  • 29534, CLR, Little Knife and/or Rattlesnake Point-Bakken, two overlapping 2560-acre units, one: section 36-147-97, section 31-147-96, section 1-146-97, section 6-146-96; section 6-147-96, sectino 12/13-146-97, sections 7/18-146-96, two wells, Dunn County;
  • 29535, CLR, eighteen wells, Catwalk and/or Last Chance-Bakken; i) establish two overlapping 1920-acre spacing units, sections 28/33-154-100 and section 4-153-100; and sections 29/32-154-100 and section 5-153-100; eight wells on each of the two units; ii) an overlapping 3840-acre unit composed of those same six sections, two wells, Williams; 18 wells. See this post.
  • 29536, Enerplus, Eagle Nest-Bakken, an overlapping 2560-acre unit, sectiiooons 25/36-149-95 and sections 30/31-149-94; one well; McKenzie County;
  • 29537, WPX, South Fork and/or Heart Butte-Bakken, i) an overlapping 2560-acre unit, sections 9/10/15/16-149-92, one well; ii) an overlapping 3840-acre units, sections 1/12/13-148-93 and sections 6/7/18-148-92, one well; two wells total; Dunn
  • 29538, Mercury Resources, LLC, Madison formation, one horizontal well; see this note.
  • 29539, Crescent Point Energy, Blue Ridge-Bakken, an overlapping 2560-acree unit, sections 26/27/34/35-159-100; one well; Williams County;
  • 29540, WPX, Heart Butte-Bakken,  an existing 1920-acre unit; sections 9/16/21-149-92, five wells; Dunn County;
  • 29541, WPX, pooling,
  • 29542, WPX, pooling,
  • 29543, WPX, pooling,
  • 29544, WPX, pooling,
  • 29545, Crescent Point Energy, pooling,
  • 29546, Crescent Point Energy, pooling,
  • 29547, CLR, Little Knife-Bakken, an existing 1280-acre unit; sections 1/12-146-97, nine wells; Dunn County;
  • 29548, CLR, pooling,
  • 29549, CLR, pooling,
  • 29550, CLR, pooling,
  • 29551, CLR, pooling,
  • 29552, CLR, pooling,
  • 29553, KODA Resources, pooling,
  • 29554, KODA Resources, pooling,
  • 29555, KODA Resources, pooling,
  • 29556, Hunt, SWD
  • 29557, Hunt, SWD

End-Of-Day Report -- July 28, 2022

AAPL: huge beat.

AMZN: huge. No slowdown in consumer demand

AMZN: I think this is the story everyone is missing:

To put that in perspective, if I recall correctly, Apple only has $179 billion in cash. 


ROKU: down 26%. Streaming wars starting to sort out winners and loser.

  • third (?) biggest holding in ARKK

Color me as in "tickled pink." 

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OTHERS

CLR: press release

  • cash flow from operations: $1.74 billion
  • free cash flow: $1.23 billion
  • quarterly dividend: 28 cents, unchanged
  • net income: $1.21 billion; adjusted, $1.25 billion;
  • EPS: $3.35; adjusted $3.47

AMZN

  • earnings suggests my thoughts on Walmart's earnings were exactly on target

INTC:

  • down 7% after hours
  • semi-conductors / chips starting to sort themselves out
  • remember: huge "chip bill" just passed

CMCSA:

  • also down 9%; not good 
  • streaming wars starting to sort themselves out

Refiners, link here

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Back to the Bakken

WTI: $97.24.

Natural gas: $8.210

Active rigs: 45, according to NDIC, today's daily activity report.

One new permit, #39116:

  • Operator: Hunt -- SWD
  • Field: Ross (Mountrail County)
  • Comments: none

Re-entry:

  • 38351, Resonance Exploration, Resonance Wilmot 8-27H, SENE 27-162-80; 1437 FNL and 271 FEL, South Westhope; 

Eleven permits renewed:

  • Rimrock (5): all in Dunn County -- Amethyst, Citrine, Emerald, Ruby, and Sapphire
  • Slawson (4): all in Mountrail County -- four Mole permits
  • Bowline (2): two Shaffer permits