The Enerplus Fox Pad

Locator: 44735B.   

Updates

April 24, 2025: production data updated. 

Activity
May 30, 2024

The wells:

• 20978, IA/634, Enerplus, Red Rocks 149-93-10AH, Mandaree, t12/11; cum 211K 7/23; off line;
• 20499, IA/708, Enerplus, Fox Ridge 10-21H, Mandaree, t12/11; cum 248K 9/23; off line;
• 20977, 776, Enerplus, Morrison 149-93-10AH, Mandaree, t12/11; cum 340K 1/24; recently came off line;

 

• 37819, conf, Enerplus, Troop 149-93-10B-15H-LL, Mandaree, npd,
• 37821, conf, Enerplus, Canidae149-93-10B-15H, Mandaree, npd, t--; cum 163K 2/25;
  
• 37822, conf, Enerplus, Fennec 149-93-10B-15H, Mandaree, npd, t--; cum 166K 2/25;
  
• 37823, conf, Enerplus, Sly 149-93-10B-15H, Mandaree, npd, t--; cum 170K 2/25;
  
• 37824, conf, Enerplus, Vulpes 149-93-10A-15H, Mandaree, npd, t--; cum 150K 2/25;
  
• 37825, conf, Enerplus, Kit 149-93-10A-15H, Mandaree, t--; cum 143K 2/5;
  

Date	Oil Runs	MCF Sold
3-2024	0	250

• 37826, conf, Enerplus, Renard 149-93-10A-15H, Mandaree, t-- ; cum 153K 2/25;
  

Date	Oil Runs	MCF Sold
3-2024	0	422

• 37827, conf, Enerplus, Swift 149-93-10A-15H, Mandaree, t--; cum 154K 2/25;
  

Date	Oil Runs	MCF Sold
3-2024	0	329

• 37820, loc/PNC, Enerplus, Skulk 149-93-10B-15H, Mandaree, npd,

The maps:

 

 

Updates

March 5, 2024: these Fox wells have been drilled; waiting to be completed. They were "pressure-tested" in January, 2024 -- a requirement before they can be fracked.

Original Post 

We never showed the map for this pad, so I thought it might be something we could do tonight.

From September 3, 2022:

*********************************************
Enerplus Fox Pad Proposed

Three producing wells in this drilling unit:

• 20978, 634, Enerplus, Red Rocks 149-93-10AH, Mandaree, t12/11; cum 189K 7/20; cum 210K 3/23; cum 211K/7/23; recently off line;
  
• 20499, 708, Enerplus, Fox Ridge 10-21H, Mandaree, t12/11; cum 223K 7/20; cum 245K 3/23; cum 248K 10/23; recently off line;
  
• 20977, 776, Enerplus, Morrison 149-93-10AH, Mandaree, t12/11; cum 305K 7/20; cum 335K 3/23; cum 340K 1/24;
  

The "Fox" pad:

• 37819,  loc, Enerplus, Troop 149-93-10B-15H-LL, Mandaree,
• 37820,  loc, Enerplus, Skulk 149-93-10B-15H, Mandaree,
• 37821,  loc, Enerplus, Canidae 149-93-10B-15H, Mandaree,
• 37822,  loc, Enerplus, Fennec 149-93-10B-15H, Mandaree,
• 37823,  loc, Enerplus, Sly 149-93-10B-15H, Mandaree,
• 37824,  loc, Enerplus, Vulpes 149-93-10A-15H, Mandaree,
• 37825,  loc, Enerplus, Kit 149-93-10A-15H, Mandaree,
• 37826,  loc, Enerplus, Renard 149-93-10A-15H, Mandaree,
• 37827,  loc, Enerplus, Swift 149-93-10A-15H, Mandaree, 

The maps: 

Parting Shot -- May 23, 2023

Locator: 44734WTI.   

Huge draw today (API data).

If corroborated by EIA tomorrow ... whoo-hoo!

Reminder: government no longer releasing (much) oil from the SPR.

Saudi sounds like they have had enough with sub-$80 oil.

US driving season around the corner.

COP: US Shale Dominance -- Goal -- Hart Energy -- May 23, 2023

Locator: 44733INV.  

These are the kinds of stories I love.

Link here. Or go direct.

From TMDW.

COP (in the Bakken: wholly-owned subsidiary, Burlington Resources) -- is now followed here.

• 2022, fact sheet: Bakken -- 560,000 net acres.
  
• July 2, 2021: special call -- ten-year strategic plan following the acquisition of Concho
• 620,000 net acres in the Bakken
• currently no active rigs in the Bakken (link here)
  
• 3Q20: earnings call;
  
• CY2019, annual report; this link; 
  
• 2Q18: incredible earnings report; with two rigs in the Bakken, 82,000 bpd
• 1Q14: 620,000 net acres; 1,800 identified drilling locations based on 10-rig program
• 3Q12 earnings call: 620,000 net acres; 26,000 boepd; ramped up from five to eight rigs; 
• 626,000 net acres, COP/CEO at Houston conference, May 16, 2012
• 460,000 net acres (Investopedia, March 29, 2011; Annual Report, 2010)
• Looking to acquire more, Annual Report, 2010
• 8 rigs (May, 2012); looking to ramp up to 9 - 10 rigs (same link) 

Where have we heard "dominance" and "shale" before? Link here.

Five-year:

Max:

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

OXY:

• mkt cap: $54 billion
• p/e: 6.8
• div: 1.21%

COP:

• mkt cap: $126 billion
• p/e: 8.33
• div: 5.07%

DVN:

• mkt cap: $32 billion
• p/e: 5.35
• div: 9.18%

PXD:

• mkt cap: $50 billion
• p/e: 7.60
• div: 10.84

Paul Krugman's Argument On Government Debt -- May 23, 2023

Locator: 44732DEFAULT.  

See this post.

I know a lot of folks will "consider the source" (Paul Krugman in this case) but it's an incredibly interesting argument.

I was first exposed to the argument some years ago (again, because of the blog, thank you very much) and it was at that point, the US debt bothered me a whole lot less (if it ever bothered me at all). 

Before we go on, there are two "new" issues now being discussed outside the debt ceiling itself:

• first: do governments even have to pay back their debt (and all the discussions that derive from that question)? And,
• second, what would happen if Janet Yellen "simply broke the law" to allow the government to continue paying its bills (and all the discussions that derive from that question)?

Now, back to Paul Krugman, link here.

In case the link eventually breaks, here's the first few paragraphs:

• The US government doesn't have to pay off its $31 trillion debt, Paul Krugman said.
• The government debt can't be compared to something like a household's finances, Krugman said. 
• "When governments for one reason or another run up large debts, it is, as far as I can tell, unusual to pay those debts off." 

The US doesn't actually have to pay off its $31 trillion mountain of debt, according to top economist Paul Krugman, hitting back at the idea that government finances can be compared to household balance sheets in an op-ed weeks before the US possibly defaults on some obligations.

Though individual borrowers are expected to pay off debts, the same isn't true for governments, Krugman argued in a column for the New York Times on Friday. That's because unlike people, governments don't die, and they gain more revenue with each passing generation."

Governments, then, must service their debts – pay interest and repay principal when bonds come due – but they don't necessarily have to pay them off; they can issue new bonds to pay principal on old bonds and even borrow to pay interest as long as overall debt doesn't rise too much faster than revenue," he added.

Though the debt-to-GDP ratio hovered around 97% last year, interest payments on that debt is only around $395 billion, according to the Office of Management and Budget, or around 1% of last year's GDP.

Historically, it's also unusual for governments to pay off large debts, Krugman said. Such was the case for Great Britain, which has largely held onto the debt it incurred as far back as the Napoleonic wars.

By the way, this is not a new "theory" by Krugman. He said years ago, probably the last time the debt ceiling became an issue.

In fact, the more and more I "study" this issue, the more it seems to be a manufactured Charlie-Brown-Lucy-kick-the-football political issue used by both parties to raise money and attract voters. 

At the end of the day, mixing metaphors, my hunch is that the sun will rise and set as predicted regardless of whether the debt ceiling is raised by "x-day." And at my age, I'm mostly interested in see another sunrise. 

Time for another one of my favorites. And one that seems appropriate for the times. Link here.

The movie came out in 1975, based on the 1973 stage musical.

2023 - 1973: fifty-year anniversary this year. Is that correct?

From broadwayworld.com:

2023 marks the 50th Anniversary of the legendary smash hit musical The Rocky Horror Show, as it continues to play a newly extended tour through 2023 to sell-out crowds.

Richard O'Brien's legendary rock 'n' roll musical celebrates 50 years of non-stop partying with this special anniversary production.

Since it first opened in London in June 1973 at The Royal Court Theatre The Rocky Horror Show has become the longest continuous run of a contemporary musical anywhere in the world.

The show has been seen by over 30 million people worldwide in more than 30 countries and translated into 20 languages as it continues to delight audiences on its sell-out international tour. Without doubt the Rocky Horror Show is as iconic as it gets.

Lighting up the stage this phenomenal cast will perform songs that are embedded in pop culture. With a whole host of special celebrations to be announced throughout the year, the cast are in full throttle and ready to honour this monumental moment, delivering a guaranteed party that leaps off the stage and transcends into the audience.

The tour remains sold out and has been extended.

It certainly seems some folks have not changed much since 1973. Just saying.

MRO With Four New Permits; BR Renewed Fourteen Permits; Six DUCs Reported As Completed -- May 23, 2023

Locator: 44731B.  

Active rigs: 37.

WTI: $72.91. After hours trending toward $74.

Natural gas: $2.321.

Four new oil and gas permits, #39916 - #39919, inclusive:

• Operator: MRO
• Field: Murphy Creek (Dunn County)
• Comments:
• MRO has permits for four new wells -- an Arnew, an Anseth, a Bergelie, and Quam, all in NENW 22-145-96; 
• to be sited 320 FNL and between 2235 FWL and 2355 FWL

Permitted for recompletion:

• 6900, Stearns Oil, Harold Haugen 25-1, SESW 25-161-103, Daneville field, Divide County.
• previous targets: Stonewall, Madison, Red River, all productive to some extent, but most from the Red River formation; Red River, t4/83; cum 130K 8/19;
  

Sixteen permits renewed:

• BR (14): West Kelogg, Shafer, Sandrie, Sequoiafill,
  
• Foundation Energy (2): Roosevelt Federal and Mosser Federal,
  

Six producing wells (DUCs) reported as completed:

• 38214, 378, WPX, Two Shields Butte,
• 38215, 724, WPX, Two Shields Butte,
• 38216, 524, WPX, Two Shields Butte,
• 36480, 1,060, WPX, Skunk Creek,
• 36481, 867, WPX, Skunk Creek,
• 35528, 485, WXP, Two Shields Butte,

Slawson cancels four Diamondback permits, NWNW 21-151-92 and NENE 21-151-92;