Week 28: July 10, 2023 -- July 16, 2023

Locator: 45141TOP.

Top story:

• the stock market setting new records; NASDAQ at new record
  
• soft landing; no recession; one more 25-bp hike?
  

Top international non-energy story:

• Russian-Ukraine war continues but it seems "no one" knows.
  
• Prigozhin -- not seen in several days;
• Ukraine advances on Bakhmut
  
• NATO to admit Sweden; Turkey gets F-16 package from US in exchange;
  

Top international energy story:

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Top national non-energy story:

• 
  

Top national energy story: 

• US LNG production hitting new records
  
• WTI breaks $80 but pulls back; closes at $75 at end of week
• shares in majors slump
  
• record heat, nationally
  
• Texas grid holds: easily.
  

Focus on fracking: most recent edition.

Top North Dakota non-energy story:

• #1 among US states: GDP growth 1Q23, 12.1%
  

Top North Dakota energy story:

• MRO's Daniel well, a Three Forks second bench well.
  

Geoff Simon's top North Dakota energy stories:

•  Quick connects.
  

Bakken economy: North Dakota's 1Q23 GDP growth: #1 in the nation.

Commentary:

Entertainment: Mission Impossible, Barbie (pending); Oppenheimer (pending).

Global NGL Production -- US Sets Another Record -- July 14, 2023

Locator: 45140NGL.

Link here.

Hart Energy:

Top ten NGL producers, billion cubic meters, exporting rank:

• USA: 934; #1 (and way, way below its potential; think Mountain Valley)
  
• Russia: 702; #1
  
• Iran: 257
• China: 209 (unlikely to be a net NGL exporter)
  
• Qatar: 177; 3rd
  
• Canada: 172; "a top exporter."
  
• Australia: 147; #1
  
• Saudi Arabia: 117; does not export its natural gas;
  
• Norway: 114; 3rd
  
• Algeria: 101; 5th

So, the top five producers:

• US
• Russia
• Qatar
• Norway
• Algeria 
  

Top exporters:

• Australia
• Norway
• Qatar
• US / Canada
  
• Algeria

Soft Landing? July 14, 2023

Locator: 45139ECON.

I'll believe it when I see it but if this occurs, this is simply amazing -- a very soft landing, no recession, and, in the big scheme of things, the Fed able to hold higher interest rates that were manageable for most. I guess.

ERCOT -- Texas Grid Update -- July 14, 2023

Locator: 45138TX.

Link here.

ERCOT reminded folks to conserve electricity today. But there were no problems. Demand easily met.

It looks like TX peaked at about 4:00 p.m.:

• demand: 80,944
• committed capacity: 92,129
• reserves: 11,185 -- which is about the total ISO NE amount on light-to-average days;
• I find it incredible that one state can manage this amount of electricity coming from multiple sources.

CLR Quale Wells

Locator: 45137B.

Updates

February 4, 2024: three Quale wells coming off confidential list this week.

The Wells 

The Quale wells:

• 19232, 1,423, CLR, Quale 1-1H, t2/12; cum 605K 10/23; off line;
  

From this post, 17 wells on a 640-acre spacing unit:

• 28930, 1,132, CLR, Quale Federal 2-1H, Sanish pool; 30 stages, 3.5 million lbs; t2/15; cum 437K 12/19; some flaring; this well was sited on a Mack pad but the horizontal ran in the neighboring drilling unit; of all the wells in this list, this Quale well is the only long lateral; all the rest are short laterals; cum 509K 5/23; cum 525K 11/23; was off line for six weeks;
  

• 39315, conf, CLR, Quale Federal 3-1H2,

• 40041, conf, CLR, Quale Federal 4-1H,
• 40042, conf, CLR, Quale Federal 5-1H2,
• 40043, conf, CLR, Quale Federal 6-1H,
• 40044, conf, CLR, Quale Federal 7-1H1,

• 40041, loc, CLR, Quale Federal 4-1H, Antelope,
• 40042, loc, CLR, Quale Federal 5-1H2, Antelope,
• 40043, loc, CLR, Quale Federal 6-1H, Antelope,
• 40044, loc, CLR, Quale Federal 7-1H1, Antelope,
• 40045 loc, CLR, Quale Federal 8-1H2, Antelope,

The maps:

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