The Million Dollar Way (The Bakken Oil Blog)

Tuesday, August 2, 2022

PXD Announces Increased In Quarterly Dividend -- August 2, 2022

New quarterly dividend: $8.57, with indicated annual yield of 14.93%.

record date: 9/6/22
pay date: 9/16/22

Amazon Expands Delivery Options -- August 2, 2022

I simply find this amazing. Amazon continues to expand delivery options.

Amazon’s next store update will let you digitally explore shopping malls and pick up new clothes and items that'll be delivered to you the exact same day.
The new pilot program is coming to 15 cities across the US including Chicago, Washington, Seattle, Las Vegas, and Dallas (I don't know if it includes the entire DFW metroplex).

If you live in one of these places (and have an Amazon Prime membership) you’ll be able to access digital versions of your local mall’s Diesel, Pacsun, Superdry, and GNC – picking out clothes and items just like you would from the shelves.
Once you’ve placed your order, an Amazon delivery driver will then go pick it up and bring it to you later that same day – just like a takeout delivery service such as GrubHub (which is free for a year with Prime) or DoorDash but for regular stores. Unfortunately, even though this is a Prime benefit, you don’t automatically get free delivery – you’ll have to spend at least $25 on your order or cough up $2.99 to get your new goodies.

The BR Maverick Wells In Dimmick Lake -- Halo Effect -- August 2, 2022

Updates

January 18, 2023: initial production data posted here.

Original Post

Four-well pad to the west:

36241, loc/NC, BR, Maverick 1C TFH 33-0530-08986, Dimmick Lake, no production data, FracFocus: no frack data.
36242, loc/NC, BR, Maverick 1E MBH 33-0530-08987, Dimmick Lake, no production data, FracFocus: no frack data.
36243, loc/NC, BR, Stortroen 1D MBH 33-0530-08988, Dimmick Lake, no production data, FracFocus: no frack data.
36244, loc/NC, BR, Maverick 2C TFH 33-0530-08989, Dimmick Lake, no production data, FracFocus: no frack data.

Four-well pad to the east:

36245, drl/A, BR, Maverick 2D MBH, 33-0530-08990, Dimmick Lake, no production data, FracFocus: no frack data.
36246, drl/NC, BR, Maverick 2E TFH, 33-0530-08991, Dimmick Lake, no production data, FracFocus: no frack data.
36247, drl/NC, BR, Stortroen 2C TFH, 33-0530-08992, Dimmick Lake, no production data, FracFocus: no frack data.
36248, drl/NC, BR, Stortroen 2D MBH, 33-0530-08993, Dimmick Lake, no production data, FracFocus: no frack data.

A singleton, farther east:

17213, 437, BR Maverick 44-12H, Dimmick Lake, t7/08; cum 221K 6/22; recent production, 1,252 bbls crude oil over two days (June, 2022) extrapolates to almost 20,000 bbls over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2022	2	1252	477	2048	497	455	36
BAKKEN	5-2022	0	0	0	0	0	0	0
BAKKEN	4-2022	9	152	708	167	788	766	0
BAKKEN	3-2022	8	341	0	282	392	372	0
BAKKEN	2-2022	0	0	0	0	0	0	0
BAKKEN	1-2022	0	0	0	0	0	0	0
BAKKEN	12-2021	27	258	457	13	310	222	21
BAKKEN	11-2021	21	259	244	8	357	307	0
BAKKEN	10-2021	31	606	467	79	1213	1130	6
BAKKEN	9-2021	30	518	476	53	1058	950	34

A singleton, to the southeast:

18732, 558, CLR, Stortroen 1-13T, Dimmick Lake, t7/10; cum 176K 6/22;

A reader alerted me to these wells. The reader wrote:

NDIC well #17213 Maverick 44-12 has been a lackluster well at best.
In the profile, it has topped out around 600 barrels of oil for a 30 day period over the last year.
NDIC well #36245 Maverick 2D MBH just was released from confidential today, and is located in the same area.
The Maverick 44-12 was offline for all of May, assuming it was for some fracking work on the neighboring wells. When it came back online in June, it produced 1200 barrels for a two day period. The well file does not show anything that I can find relating to a work over on that well, so I am assuming it is due to the neighboring fracs.

My reply:

That is incredibly impressive. That 1,200 bbls of crude oil over two days extrapolates to nearly 20,000 bbls crude oil over 30 days.
The Bailey oil field and the Reunion Creek oil field (MRO) is well known for the "halo effect." This may suggest the "halo effect" may be relevant in the Dimmick Lake. It will be fascinating to watch.

The NDIC GIS map server does not yet show the horizontals, but it's obvious these new wells parallel the older Maverick well.

Frack data has not yet been posted for the newer wells.

Grayson Mill With Permits For Four Cherrey Wells On The West Side Of Williston -- August 2, 2022

WTI: $94.42. The drop in the price of WTI seems to have slowed; perhaps bottomed again.

OPEC+ met this week; will raise production quota by 250,000 bopd (a drop in the bucket in the big scheme of things) and production provides for domestic consumption and export, and "production" does not necessarily follow "production quota." One can argue that OPEC+ increase in crude oil production is barely keeping up with their own domestic use, particularly in Saudi Arabia where the kingdom is increasing refinery capacity to export refined products.

Natural gas: $7.706. Many see this drop perplexing. All things being equal, it suggests analysts are looking toward:

a further slowdown in economic activity in the third quarter;
a temperate autumn in Europe;
adequate natural gas reaching Europe by the time winter hits

Active rigs: NDIC reports 46 active rigs.

Six new permits, #39121 - #39126, inclusive:

Operator: Grayson Mill (Equinor) (4); Iron Oil Operating (2)
Field: Todd (Williams County); Bully (McKenzie County)
Comments:

Iron Oil has permits for two Stocke wells in lot 4 section 4-148-100,

to be sited 345 FNL and at 961 FWL and 1011 FWL;

Grayson Mill has permits for four Cherrey wells in SESW 34-155-101,

to be sited 403 FSL and 402 FSL and between 2056 FWL and 2236 FWL.
the Cherrey wells will be north of the Municipal Golf Course and west of Spring Park
Note: I had this wrong in the original note. A big thanks to the reader who caught my mistake and alerted me.

Map: