The Million Dollar Way (The Bakken Oil Blog)

Sunday, July 7, 2024

Petro-Shale Primus Wells In Antelope Oil Field

Locator: 48073B.

The wells:

33006, PNC/PNC, Petroshale, Petroshale US 2H, Antelope,
33005, offline/1,560, Petroshale, Petroshale US 3H, Antelope-Sanish, t3/18; cum 589K 4/24;
33004, offline/GL/A, Petroshale, Petroshale US 4H, Antelope-Sanish, t3/18; cum 458K 4/24;
33003, loc/PNC, Petroshale, Petroshale US 5H, Antelope,
33002, loc/PNC, Petroshale, Petroshale US 6H, Antelope,

39964, conf, Petroshale, Primus 1TFH, Antelope, npd,
39966, conf, Petroshale, Primus 1MBH, Antelope, npd,
39967, conf, Petroshale, Primus 2TFH2H, Antelope, npd,
39968, conf, Petroshale, Primus 2TFH, Antelope, npd,
40589, conf, Petroshale, Primus 2TFHX, Antelope, npd,

Other wells of interest:

32767, offline/2,759, Petroshale, Petroshale US 8H, Antelope-Sanish, t1/17; cum 706K 12/23;
38034, loc/A, Petroshale, Tahu 3TFH, Antelope-Sanish, t2/24; cum 55K 5/24;

The maps:

The CLR Benner And CLR Chase Wells In Jim Creek

Locator: 48072B.

Could very likely be 3-section / 1920-acre standup spacing.

The CLR Chase and CLR Benner wells:

40222, conf/drl, CLR, Marshall 4-13H, Little Knife,

40250, conf, CLR, Benner 3-7H, Jim Creek,

40251, conf, CLR, Benner 4-7H, Jim Creek,

40252, conf, CLR, Benner 4-7H, Jim Creek,

40253, conf, CLR, Benner 5-7H, Jim Creek,

40254, PNC, CLR, Chase 2-18ND, Jim Creek,

40256, conf, CLR, Chase 3-18H, Jim Creek,

40257, conf, CLR, Chase 4-18H, Jim Creek,

40405, conf, CLR, Chase 5-18H, Jim Creek,

Other wells of interest:

20230, 293, CLR, Chase 1-19H, Jim Creek, t7/11; cum 202K 5/24;
20607, 814, CLR, Grande 1-18H, Jim Creek, t10/11; cum 234K 5/24; off line;
21032, 905, CLR, Benner 1-6H, Jim Creek, t1/12; cum 286K 5/24;
39868, drl/conf, CLR, Micahlucas 3-5HSL, Jim Creek,

The maps:

401(k) Update -- July 7, 2024

Locator: 48071INV.

"They" say current retirees need around $1.6 million in the bank to retire.

Link here.

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MVP Update -- July 7, 2024

Locator: 48070NG.

Tag: pipeline.

SPGlobal, July 3, 2024: Appalachian Basin gas production hits four-month high as MVP flows rise.

Drilling down deeper, it appears that much of the recent gas production increase is coming from the Marcellus shale of West Virginia, located in the https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/070324-appalachian-basin-gas-production-hits-four-month-high-as-mvp-flows-rise. In July, Marcellus production from West Virginia has averaged nearly 9 Bcf/d, up from about 8.5 Bcf/d during the final week of June.

Recent production gains in Appalachia also come after EQT CEO Toby Rice in mid-June acknowledged publicly that the company had started bringing earlier-deferred production back online – a process that he said would be incremental.

Earlier this year, EQT announced one of the single largest gas production cuts by a US operator, saying it would reduce gross output by 1 Bcf/d in response to low prices. At the time, executives said the curtailment, which started in late February, would lower annual production by at least 30-40 Bcf.

EQT's announcement came just two weeks after Chesapeake Energy announced its own cut of a similar magnitude with a commitment to reduce 2024 output by 15% and lower capital spending by 20%.

Earlier commitments to cut gas production by EQT, Chesapeake and others came largely in response to low gas prices, which were hovering in the mid-$1 area at the time. In early May, though, gas prices rallied back above $2 and kept rising, ultimately topping $3 amid bullish momentum fueled by tighter market fundamentals. Now, with prompt futures prices still hovering in the mid-$2s, it seems likely that production in Appalachia, and elsewhere, could continue rising.

Mountain Valley Pipeline, wiki.