Friday, July 29, 2022

WPX Brings An Old Well Back On Line -- July 29, 2022

After being off line since 10/19, it appears WPX is bringing this well back on line. After no production since 10/19, it produced 31 days in June, 2022.

The well:

  • 17943, 716, WPX, Alisia Fox 16-9H, Mandaree, t11/09; cum 126K 6/22; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20223194031182820
BAKKEN5-20220000000
BAKKEN4-20220000000
BAKKEN3-20220000000
BAKKEN2-20220000000
BAKKEN1-20220000000
BAKKEN12-20210000000
BAKKEN11-20210000000
BAKKEN10-20210000000
BAKKEN9-20210000000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-202113650504
BAKKEN4-20210000000
BAKKEN3-20210000000
BAKKEN2-20210000000
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-20200000000
BAKKEN9-20200000000
BAKKEN8-20200000000
BAKKEN7-20200000000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-2020001780000
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-20200000000
BAKKEN12-20190000000
BAKKEN11-201925602465257
BAKKEN10-2019295525211137475260
BAKKEN9-2019305145212788336130
BAKKEN8-2019277846841749657420
BAKKEN7-2019109001081080
BAKKEN6-20193058861257094930
BAKKEN5-2019315906451558686340
BAKKEN4-2019294764183858276200
BAKKEN3-201927808694181934540164
BAKKEN2-201921062673243210
BAKKEN1-2019697194282632180
BAKKEN12-2018284614612085913950
BAKKEN11-201830485446996894720


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A Veeder Well With History Of "Struggling," Recently Off Line, Is Now Back On Line -- July 29, 2022

From a previous post:

May 13, 2019: #16357, struggling; strange profile; a Veeder well in Blue Buttes, BR; remains off line 12/19; IA; A as of 12/19; no production 12/19 or 1/20; five days in 2/20; zero days, 3/20; three days, 4/20; zero days 5/20; 1 day, 6/20; 4 days, 9/20; struggling; 10/20, struggling; cum 282K 10/21; off line 1/22; back on line 6/22; cum 282K 6/22;

The Veeder wells are tracked here.

Screenshot of scout ticket:

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-202282332401081456140040
BAKKEN5-202210001941940
BAKKEN4-20220000000
BAKKEN3-20220000000
BAKKEN2-20220000000
BAKKEN1-2022100069690
BAKKEN12-202110420253763360
BAKKEN11-2021302502535804600
BAKKEN10-202131142242211137112470
BAKKEN9-202130417483521329032310
BAKKEN8-202129650687909277327160

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A Whiting Richardson Federal Well, Tracked For Years, Just Went Over One Million Bbls Crude Oil Cumulative -- July 29, 2022

Note: a reader wants me to point out this well is not a typical Bakken well. Whatever.

From a previous post, back in 2016:

*******October 11, 2016: #17158; bump in production after neighboring well fracked; note how little time this well was taken off-status while neighboring well was fracked; see if this well goes 1 million bbls without being put on a pump; 987K 11/20; 

The well: 

  • 17158, 4,148, Whiting, Richardson Federal 11-9H, s8/08; t10/08; 997K 1/22; F; at 600 bbls / month it's going to take a year to hit one million bbls.

So, let's see where we're at, six years later.

Wow, wow, wow .... what serendipity ... this well literally just went over one million bbls crude oil cumulative.

Screen shot of scout ticket:

  • just went over one million bbls crude oil cumulative;
  • flowing, never put on a pump

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-20223052253691450444440
BAKKEN5-202231695724123466045980
BAKKEN4-20222148543769337322971037
BAKKEN3-202231623643157349734350
BAKKEN2-2022285625702343087301022
BAKKEN1-202231711714241419541330
BAKKEN12-202131779768265456645040
BAKKEN11-202130698713137479147310
BAKKEN10-202131691613117507250100
BAKKEN9-202130628708209486748070
BAKKEN8-20213164561866475847517
BAKKEN7-202131774751534793469697
BAKKEN6-20213063364356466746670
BAKKEN5-202131723818103541454140
BAKKEN4-202130715645137505550550
BAKKEN3-202131812794107555854960

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Coal And The Jevons Paradox -- July 29, 2022

Link here.

Wiki entry.

In economics, the Jevons paradox (/ˈdʒɛvənz/; sometimes Jevons effect) occurs when technological progress or government policy increases the efficiency with which a resource is used (reducing the amount necessary for any one use), but the falling cost of use increases its demand, negating the efficiency gains. The Jevons' effect is perhaps the most widely known pitfall in environmental economics. However, governments and environmentalists[needs update] generally assume that efficiency gains will lower resource consumption, ignoring the possibility of the effect arising.
In 1865, the English economist William Stanley Jevons observed that technological improvements that increased the efficiency of coal-use led to the increased consumption of coal in a wide range of industries. He argued that, contrary to common intuition, technological progress could not be relied upon to reduce fuel consumption.
The issue has been re-examined by modern economists studying consumption rebound effects from improved energy efficiency. In addition to reducing the amount needed for a given use, improved efficiency also lowers the relative cost of using a resource, which increases the quantity demanded. This counteracts (to some extent) the reduction in use from improved efficiency. Additionally, improved efficiency increases real incomes and accelerates economic growth, further increasing the demand for resources. The Jevons' effect occurs when the effect from increased demand predominates, and the improved efficiency results in a faster rate of resource utilization.
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Week 30: July 24, 2022 -- July 30, 2022.

Javier Blas: Coal is king. 

Focus on fracking: link here.

Top story of the week:

  • Joe Biden is still president.
    • recovers from the sniffles;
  • without question: the most incredible day or two in the market; as exciting as any in quite some time
    • Intel, Roku, Meta crater
    • Apple, Amazon soar
    • GM in trouble; Ford surprises

Top international non-energy story:

  • The Ukraine war drags on.

Top international energy story:

  • Situation continues to worsen in Europe; countries returning coal
    • use of coal will set a new all-time record in 2022
  • Critical Russian turbine for Nord Stream 1 is apparently still held up in Germany after being "returned" from Canada

Top national non-energy story:

  • "January 6th" hearings continue — compelling.

Top national energy story:

  • WTI surges; after President Biden announces another 20-million-bbl sale from thee SPR, WTI soars; gains 5%; closes right around $100
  • oil companies reporting record quarterly earnings; US reaction muted as gasoline prices are dropping but average price across the US is still around $4.26 / gallon

Top North Dakota non-energy story:

Top North Dakota energy story:


Geoff Simon's top North Dakota energy stories:

Bakken economy:

Commentary:

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