Sunday, September 18, 2022

Focus On Fracking -- September 18, 2022

Link here. The lede:

  • US oil supplies at a 19 year low; 
  • gasoline supplies at 42 week low; 
  • global oil surplus at 1,630,000 barrels per day 

When will this "catch up to us"?

  • US oil supplies at a 19 year low; 
  • gasoline supplies at 42 week low; 

Only thing I see when I see this: global recession.

  • global oil surplus at 1,630,000 barrels per day  

US oil data from the US Energy Information Administration

For the week ending September 9th showed that despite a big drop in our oil imports, a record draw of oil from our SPR meant we had unused oil left to add to our stored commercial crude supplies for the 2nd time time in 5 weeks, and for the 18th time in the past 42 weeks.... in other words, the SPR release was not needed, but we already knew that.

Our imports of crude oil fell by an average of 988,000 barrels per day to average 5,792,000 barrels per day, after rising by an average of 824,000 barrels per day during the prior week, while our exports of crude oil rose by 82,000 barrels per day to average 3,515,000 barrels per day, which meant that the net of our trade in oil worked out to an import average of 2,277,000 barrels of oil per day during the week ending September 9th, 1,070,000 fewer barrels per day than the net of our imports minus our exports during the prior week. 

Over the same period, production of crude from US wells was reportedly unchanged at 12,100,000 barrels per day, and hence our daily supply of oil from the net of our international trade in oil and from domestic well production appears to have totaled an average of 14,377,000 barrels per day during the September 9th reporting week…

Sweden -- Long, Long Neutrality -- Who Would Have Ever Thought Sweden Would Join NATO -- And Be Admitted -- Literally -- Overnight -- Over Turkey's Ill-Conceived Objections -- September 18, 2022

Wow, I love the blog. Either I actually know what I'm talking about or I'm very lucky. Probably the latter.

The other day I posted this as part of a much longer blog:

Putin's goal only a few years ago was to re-establish the Russian Empire, weaken NATO, and work to break up the EU.

The former Russian Empire seems in worse shape than ever (see below) and NATO has added two more countries (Sweden and Finland).

US is arming Poland to the teeth, as they say, and now there is talk of long-range missiles being moved to Ukraine. 

Biden's militarization of eastern Europe is said-to-be "generational."

Russia's southern border is on fire.

Again, this is what  I posted:

The former Russian Empire seems in worse shape than ever (see below) and NATO has added two more countries (Sweden and Finland)

Hold that thought.

Now, tonight from Carl Bildt (wiki) over at twitter: 

Compared to some NATO leaders, this guy actually looks like a military commander.

An Oasis Nikolai Federal Well Has Been Completed; Producing -- September 18, 2022

The well:

  • 37623, loc/A, Oasis, Nikolai Federal 5297 11-6 6B, Banks, first production, 6/21; t--; cum 107K 9/21; 33-053-09449; fracked 5/6/21 - 5/15/21; 10.6 million gallons of water; fresh water, 89.7% water by mass; 107K in less than four months; cum 196K 7/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-2022314938494092572933728624400
BAKKEN6-2022305462546093022549125014158
BAKKEN5-20223158735878761432423320800
BAKKEN4-20223067416738114183900938132482
BAKKEN3-2022317574757412608400773954499
BAKKEN2-202228768476811190442928412401267
BAKKEN1-20223194239445145745514454060570
BAKKEN12-2021311179411785174466963068428572
BAKKEN11-2021291196411959155244716145801739
BAKKEN10-2021291690516912226327377572086861
BAKKEN9-202130266152660129401102201993021687
BAKKEN8-202131301963019520597286944761539
BAKKEN7-20213130880308943081489450832104911
BAKKEN6-20212919459194303650258392570741125
BAKKEN5-202131000000

Two CLR Norfolk Wells IIn North Tobacco Garden Trending Toward 500K Bbls Crude Oil Cumulative -- NFL: Bengals At Dallas -- Holy Mackerel -- The Cowboys Just Won -- On The Final Play -- September 18, 2022

The wells:

  • 29000, 1,249, CLR, Norfolk 7-1H, middle Bakken, 40 stages, 4.6 million lbs, t5/15; cum 431K 5/20; cum 465K 10/21; cum 491K 7/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-20223024142549370026865265570
BAKKEN6-20223039584047426733802316121800
BAKKEN5-20223131052899318812734123310
BAKKEN4-202228182719621824790776090
BAKKEN3-2022312725250823521103210185450

  • 20676, 567, CLR, Norfolk 1-1H, middle Bakken, 30 stages, 2.6 million lbs, t8/11; cum 485K 5/20; cum 491K 10/21; cum 496K 7/22; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-20223141652468313828134090
BAKKEN6-20223048449667013504118591240
BAKKEN5-20223154751274614216137970
BAKKEN4-20223055050472812137117390
BAKKEN3-20223157853686312855124360
BAKKEN2-20222853253495711353109750

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NFL

There may be / may have been an NFL game today as good as the Bengals - Dallas game that is currently in the fourth quarter but none better. 

With 3:45 left in the fourth quarter, the Bengals marched the entire field to tie it up 17 - 17, after converting on the two-point-ATD.

I've flip-flopped numerous times with regard to the NFL the past several years, but for me, the NFL is back!

And then, NASCAR! Nope, just kidding -- that was last night. Wow, that was a painful race for the drivers. Engines blowing up; cars not performing well for unknown reasons, but we got through it, and moved from the field of sixteen to the field of twelve.

I would make one change to the playoffs, but in the big scheme of things, the playoff scheme is almost perfect.

It looks like the Bengals - Dallas game will go into overtime. 

With 24 seconds, will Dallas kick a field goal? No more time outs. Four seconds left. A 50-yarder! It's good. Dallas wins!

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The Sermon

Here We Go! China Opens Up -- September 18, 2022

Link here.