A Closer Look At That Kraken Well In Oliver Oil Field -- October 5, 2020

 
Taking another look at this well, recently released from confidential status:

The well:

• 36978, drl/A, Kraken, Hobart LW 34-27 1H, Oliver, t--; cum 147K 8/20; fracked 2/14/20 - 2/27/20; moderate - large frack with 10.2 million gallons of water; 84.9% water by mass

Production -- look how long "they" maintained that production -- operators working on that "dreaded Bakken decline." Also note how fast they got this well hooked up to a natural gas pipeline:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2020	31	24559	24689	36930	0	0	0
BAKKEN	7-2020	31	31117	31262	44545	43097	42839	104
BAKKEN	6-2020	27	26637	26984	41947	30366	30079	95
BAKKEN	5-2020	31	29393	28820	45688	32920	32337	351
BAKKEN	4-2020	29	34902	34385	55205	33296	19083	13868

 A reader who corresponds regularly and is following this quite closely noted:

That Kraken well used ~243 thousand barrels of water to frac and has, so far, recovered ~223 thousand barrels produced water over a few months online. This is further indication that operators are able to virtually eliminate the flowback procedure in the 10/14 days immediately following the completion and allow the elevated, induced hydraulic pressure to push more oil into the wellbore. 

This one change in procedure should increase output significantly. 

The reader has pointed this out several times before regarding other wells. This is not something new. 

My not-ready-for-prime-time reply:

That is remarkable, about lowering costs. The last time I looked, and it's been a long time, maybe a year, some operators said well drilling/completion costs were down to $6 million in the Bakken. 

A quarter-million-dollar saving on $6 million is significant. Add that to the huge wells some operators are reporting, and cost per bbl is coming way down.

On some of these wells, operators are paying for their wells at the wellhead at $20/bbl in two years. Yes, I know there are a lot of other costs and ways to "play the cost game" but even at $20/bbl to pay for a well in two years. Not bad.

By the way, the oil field in which this Kraken well was drilled is not exactly near the "hot spots" in the Bakken. In fact, this is one of the least exciting areas in the Bakken. 

 The reader also noted this:

On a completely unrelated note, the recent 'merger' of Liberty and Schlumberger's completion division should show reduced costs for completions starting, perhaps, next summer. 

In addition to switching over to natgas-fueled electric frac'ing (possible quarter million dollar saving per well completion right there), the successful implementation/introduction of new hardware involving the 'missile' which distributes the frac fluid underground could save maintenance costs to Liberty in a major way.  

The full explanation is lengthy, but American operators are apt to become even more competitive versus their global competitors in the near future.

That's very interesting. I doubt there is much in the way that Saudi Arabia can do, for example, to make their lifting costs less, but with shale, it seems there is quite a bit yet to learn. Very, very interesting. Wouldn't it be interesting if fracking on non-federal land could more than make up for any loss of fracking on federal land if the next president were to ban fracking on federal land? Just thinking out loud.

With regard to the "missile":

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Up Next: Halloween
It's 2020, What Could Possibly Go Wrong?

Little Red Riding Hood, Sam The Sham, and the Pharaohs

XTO Cole Well With Huge Frack -- October 3, 2020

Completion strategies are tracked at the sidebar at the right.

The well:

• 26803, SI/A, XTO, Cole 44X-32C, 33-053-05407, Siverston, t--; cum 242K 1/21;
  

Production:

• 26803, fracked 9/4/19 - 9/25/19, 17.93 million gallons of water; water 93.4% by mass; target: 26' feet thick, middle Bakken; drilled in seven days; exposed 10,172' of uncased hole;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2020	31	17560	17555	16968	47391	45062	1895
BAKKEN	7-2020	25	21031	21110	18839	53650	52730	845
BAKKEN	6-2020	30	28829	29311	24539	67327	66545	746
BAKKEN	5-2020	31	18492	17778	23981	37969	37603	221
BAKKEN	4-2020	1	114	1509	0	227	75	150
BAKKEN	3-2020	31	41847	41234	40185	88336	0	88001
BAKKEN	2-2020	27	55183	54334	49841	88634	0	88501

The Market And Energy Page, T+29 -- March 29, 2018

Correction: earlier this week I wrote that we would know on Friday, 10:30 a.m. Central Time whether the market's surge on Monday was a dead cat bounce. The market is closed Friday. We will know today at the close whether Monday was a dead cat bounce:

• if the market closes on a negative note, clearly Monday was a dead cat bounce
• if the market closes less than 150 points up, Monday was likely a dead cat bounce
• if the market closes between 151 points and 250 points up, Monday was NOT likely a dead cat bounce
• if the market closes up more than 251 points today, Monday was clearly not a dead cat bounce [Later, the Dow closed UP 255 points -- which I would argue is a somewhat ambivalent response]

TSLA: On the last trading day of the quarter, and on a day the market is marginally higher, TSLA? Down another 3%; down almost $8. Could drop below $250/share. Did I hear someone say "ouch"? [Later, TSLA closed up over 3%; over $8/share.] [After market close and just ahead of a 3-day weekend Tesla announces a recall of 123,000 Model S cars over faulty steering component: the timing of the announcement is incredibly interesting. This has to leave a lot of TSLA "investors" a bit nervous -- buying TSLA at the close (when shares were moving up) and now not knowing what the recall will mean to TSLA when the market opens again -- a long, long three days from now.]

 The above posted at 7:14 p.m. Central Time, March 29, 2018.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here. However, having said that, Grapevine, TX, is a nice place to visit this time of the year. Or, actually, any time of the year.

Biggest problem for Tesla: no moat.

• at the high end: Jaguar + Waymo = I-Pace
• at the low end: Hyundai just announced its EV entry 

 Second biggest problem for Tesla: minimal experience with manufacturing automobiles

• Jaguar: long, long history
• Hyundai: long, long history

Best thing going for Tesla: faith.

**************************

Port Of North Dakota

Minot Daily News provides update.

• the railhead / terminal / transloading facility leases land from the city of Minot
• the port has not paid its lease in some time; the port has defaulted on many loans
• the city has taken steps to terminate the lease with the port
• the port has until April 30, 2018, to sort this out
• port leases about 135 acres from the city of Minot
• the city has capitalized about $1 million in rail and other infrastructure at the port 

****************************

Frack Sand

Look at that amount of sand Enerplus used on this frack, reported today, almost 20 million lbs:

• 33486, 1,667, Enerplus, Crane 150-94-33C-28H, Spotted Horn, 40 stages; 19.3 million lbs, mesh; t10/17; cum 184K 1/18; 

See results of other wells that came off confidential list this week at this post.

***********************

Bakken Economy

Long, Long Note Regarding An MRO Pad -- Initial Production, If Accurate, Set New Bakken Records -- March 27, 2018

Update:

March 31, 2018: see comments below --

FYI: 33535 by Marathon in January produced 61,186 barrels in 21 days if the information is correct. At that rate for 31 days it would have been 90,322. 

#33535: Arkin 44-12TFH Bench 1. Recent lone well in Bailey looked like 45 stages with only 6 million lbs. of proppant? Comment: I do remember Lynn Helms suggesting the first bench of the Three Forks might have better wells than the middle Bakken. Overall, the middle Bakken will produce more due to a larger footprint, but the Three Forks, upper bench, well vs well, might actually produce better wells. Truly amazing, isn't it?

March 28, 2018: when I saw the initial monthly production data for #30135 below, I assumed the data had to be wrong, but then when I saw similar data from its sister wells, I figured the data had to be correct (there couldn't have been that many typos). But these monthly production numbers are quite incredible. When I questioned whether the data might be in error, a reader wrote (see first comment):

The improvement in output - most specifically the early months (and Marathon has been on an absolute tear lately) - would lead me to believe the latest iterations of fracturing are showing results like the ones you just posted.

Perhaps more explanations will be forthcoming on the next conference call, but effective introduction of micro proppants, skillful implementation of diversion products, competent monitoring of real time seismic which allow extensive fracturing in the most carbon-rich areas all tend to produce more hydrocarbons.

If the operators are using the elevated, induced pressure from the frac to "push" oil to the wellbore, more will be recovered - at least in the early going - from these recent completions.

The dynamic evolution in unconventional production continues at a still-dizzying speed as these above numbers indicate.

Original Post
For newbies: to put these wells-- down below -- in perspective --

• if you have one well, and the first month's production is 10,000 bbls of oil, open a bottle of champagne
• if you have six wells on one pad, and the average initial monthly production for each well works out to 10,000 bbls of oil, go out for a steak dinner and order two bottles of champagne
• if you have one well, and the first month's production is 30,000 bbls of oil, hire a financial advisor, take him/her to dinner with you; order at least three bottles of champagne
• if you have six wells on one pad, and the average initial monthly production of each well works out to 30,000 bbls of oil, quit your day job, move to Hawaii, and take your financial advisor with you; buy a vineyard in Napa Valley, California
• if you have six wells on a pad like the one below: call Warren Buffett; ask him if he needs another partner

************************************
This note is a big deal, at least for me. This is something new for me. The  looks like the other gazillion posts on the blog regarding initial production data, but this one is clearly different. If you are at all interested in the Bakken, spend some time on this one.

Also, please help me out if I've made obvious errors. Of if you see something I missed. Or if I'm seeing something that doesn't exist, let me know.

Disclaimer: in a long note like this, there will be typographical and factual errors. I will correct them when found. The errors will not detract from the overall "picture" of this incredible pad.

Disclaimer: when I first started the post, I said that the production data for #30135 was most likely in error at the NDIC site. Once I completed production data for all the wells on the pad -- maybe I was really, really, really wrong.

Note: there are six wells / six file numbers identified on the pad, but there are seven horizontals clearly identified on the NDIC map; that hasn't been sorted out yet.

Note: this is something I had not seen before or if I had, I have missed it, or I did not miss it but did not pay attention to it. Whatever. But now I know I will watch for it. These wells are in the Antelope oil field, targeting the SANISH POOL. Some of these wells target the middle Bakken, some the first bench of the Three Forks and get this, one targets the second bench of the Three Forks. 
 

**************************************** 

Based on a sixth sense that sometimes helps me with the blog, my hunch -- this is an error and will eventually be corrected. Until then, we can dream, can't we (see disclaimer above):

• 30135, 4,881, MRO, Deane USA 24-22H, Antelope, Sanish, t12/17; cum 99K in 43 days; (and I'm sure the first full month of production (73,138 bbls crude oil; 111,373 mcf natural gas) is incorrect; 111,373 mcf = 18,556 boe + 73,138 bo = 91,693 boe in one full month, clearly a Bakken record, and clearly an error that will be corrected. Later, October 31, 2021: this is how far we've come. This was not an error; this is just how incredible the Bakken can be and it ever surprised me. These numbers are correct.
  

Monthly Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	31	73138	73190	17241	111373	18783	84433
SANISH	12-2017	12	25957	25025	0	36007	0	33113

The geologist's report is not yet scanned into the file report.

API: 33-053-06522.  FracFocus: 

• fracked 10/21/2017 - 11/18/2017
• 15,987,691 gallons of water = 133,417,281 lbs of water
• water: 89.74% of total mass of injection fluid
• sand: 9.9962% of total mass of injection fluid
• 133,417,281 is 89.74% of what
• 133,417,281 = 0.8974 x ?
• 133,417,281 / 0.8974 = 148,670,918 lbs of injection fluid
• 0.09962 x 148,670,918 = 14,810,597 lbs of sand
• since my estimates usually come in low, this frack probably used 16 million lbs or more of sand (a huge frack) -- corresponds with the fracks for the wells on the same pad

The graphics (see also this post):

I said that the initial data presented for #30135 has to be in error, but look at the production data for the other five wells on the same pad:

• 33290, 4,204, MRO, Lena USA 14-22H, four sections, Antelope, Sanish, 45 stages; 11.6 million lbs, t12/17; cum 94K 1/18; cum 422K 8/21;
  
• 30133, 4,855, MRO, Veronica USA 14-22TFH, Antelope, Sanish, 45 stages, 12 million lbs, t12/17; cum 96K 1/18; cum 346K 8/21;
  
• 30488, 4,144, MRO, TAT USA 14-22H, Antelope, Sanish 36 stages, 15 million lbs, t12/17; cum 89K 1/18; cum 361K 8/12;
  
• 30131, 2,420, MRO, Blue Creek USA 14-22TFH-2B, Antelope, Sanish, Three Forks B2, 39 stages; 12.2 million lbs, t1/18; cum 15K 1/18; cum 218K 8/21;
  
• 30135, see above;
• 30134, 3,503, MRO, Rough Coulee USA 24-22TFH, Antelope, Sanish, 48 stages, 12.2 million lbs, t1/18; cum 73K 1/18; cum 327K 8/21;
  

****************************************

30134:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	31	67920	67279	31864	125210	21673	95889
SANISH	12-2017	15	4933	4756	0	9145	0	8589

30131:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	23	14898	14719	4777	24077	3686	18732

30488:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	31	62812	63010	49335	100083	17944	75102
SANISH	12-2017	13	26560	25606	0	42525	0	39563

30133:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	31	46219	47461	39112	75354	14042	56119
SANISH	12-2017	17	50049	48251	4870	87397	0	81788

33290:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	1-2018	31	55287	55549	30460	101037	51139	43594
SANISH	12-2017	16	39157	38502	13572	69785	0	65414

Random Look At A Huge Bakken Well -- Oasis, Johnsrud Federal, #31919, North Tobacco Garden

Today we should see the initial production data for the sister well to this one, note the amount of proppant:

• 31919, 1,413, Oasis, Johnsrud Federal 5198 11-18 3BX, North Tobacco Garden, 4 sections, 50 stages, 20 million lbs, mesh/large, t6/16; cum 377K 1/18;

Monthly Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2018	31	7224	7224	10745	36805	20491	16004
BAKKEN	12-2017	31	7746	7759	11812	41690	28952	12428
BAKKEN	11-2017	30	7945	7985	11743	44780	42503	1977
BAKKEN	10-2017	31	9234	9154	13012	47945	42626	5009
BAKKEN	9-2017	30	9538	9561	13187	51442	42658	8484
BAKKEN	8-2017	31	11034	11038	15650	61662	54335	7027
BAKKEN	7-2017	31	12467	12510	16261	66845	66251	294
BAKKEN	6-2017	30	13981	13974	18440	85643	56887	28456
BAKKEN	5-2017	31	16555	16559	21089	89157	77311	11536
BAKKEN	4-2017	30	22076	22352	23093	80988	80688	0
BAKKEN	3-2017	25	19047	18721	18166	56111	50764	5097
BAKKEN	2-2017	28	23509	24010	20209	63883	60882	2721
BAKKEN	1-2017	31	29998	29520	24071	68066	57347	10409
BAKKEN	12-2016	31	32532	32859	25537	69328	34419	34599
BAKKEN	11-2016	30	28586	28744	24657	61794	24904	36590
BAKKEN	10-2016	31	27808	27750	24613	56347	39491	16856
BAKKEN	9-2016	30	24369	24337	23559	46182	11732	34150
BAKKEN	8-2016	31	24369	24244	24207	43761	26547	16904
BAKKEN	7-2016	31	25769	25919	25957	47076	44475	2291
BAKKEN	6-2016	26	23453	22993	38602	39569	26303	13006

Random Update Of Another High-Intensity CLR Frack -- January 30, 2018

 Updates

January 31, 2018: see first comment --

These Hereford wells are certainly interesting... after looking this well up in the well files category in premium however, It looks like this well starts in sec. 20... It goes horizontally almost a half mile in section 20, the goes up through sections 17, 8, and ends up on the north end of section 5... so 3 full miles plus almost 1/2 mile in section 20, so a very long horizontal.

Still impressive, but makes more sense when you divide the stages, sand, etc. by the longer length. It has to do with Access point (section 20) and Lake Sakakewea (just north of section 20) so an unusual setup because of the lake.

Original Post

 This production data at this page will not be updated. The well:

• 32355, 1,217, CLR, Hereford Federal 6-20H1, Elm Tree, Three Forks 1, 61 stages; 15.5 million lbs, mesh, large, small; t8/17; cum 111K 11/17;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2017	30	31373	31420	17783	64354	56827	7385
BAKKEN	10-2017	31	28162	28034	16649	51373	49779	1481
BAKKEN	9-2017	28	22742	22829	16333	44843	38666	6073
BAKKEN	8-2017	22	27555	27362	19442	41612	38498	2996
BAKKEN	7-2017	1	711	711	0	0	0	0
BAKKEN	6-2017	0	0	0	0	0	0	0
BAKKEN	5-2017	0	0	0	0	0	0	0

The CLR Hereford Federal wells are tracked here.



Quote for the day:

What, then, is the character that actually marks the American -- that is, in chief? ... It is, in brief ... social aspiration ... The American is a pusher. His eyes are ever fixed upon some round of the ladder that is just beyond his reach, and all his secret ambition, all his extraordinary energies, group themselves about the yearning to grasp it. -- H. L. Mencken, 1920, from The Man Who Made The Movies: The Meteoric Rise and Tragic Fall of William Fox, Vanda Krefft, c. 2017, p. 224.

Four New Permits; Eighteen Permits Renewed; Six DUCs Completed; Hess With A 60-Stage Frack; XTO With Two 75-Stage Fracks -- January 18, 2018

Active rigs:

$63.67↓	1/18/2018	01/18/2017	01/18/2016	01/18/2015	01/18/2014
Active Rigs	58	38	49	157	187

Four new permits:

• Operator: Nine Point Energy
  Fields: Rawson (McKenzie); Spring Creek (McKenzie)
• Comments: Nine Point has permits for a 4-well Hovde pad in lots3/6, section 6-150-100

Eighteen (18) oil and gas permits renewed:

• BR (9): a Jerome permit, two Merton permits, all in McKenzie County; a Rifle Person permit, a Scottvale permit, a CCU Burner permit, a CCU Golden Creek permit, a CCU Audubon permit, and a CCU Boxcar permit, all in Dunn County
• Whiting (5): a Helling permit in Williams County; a Wold permit in McKenzie County; a Kostelecky permit in Stark County; and, two Pronghorn Federal permits in Billings County
• Petro-Hunt (2) two Clark Griswold Federal permits in McKenzie County
• Murex: a Barrett Leigh permit in Williams County
• Hunt: a Patten permit in Mountrail County 

Four permits canceled:

• BR (3): an Elizabeth Stroh permit; a Cecilia Stroh permit; and a Linvald permit, all in Dunn County
• Petro-Hunt: a Joel Goodsen permit in McKenzie County

Six producing wells (DUCs) reported as completed:

• 30374, 0 (no typo), Statoil, East Fork 32-29 8TFH, East Fork, Three Forks, 32 stages; 8.6 million lbs small sand,  t12/17; cum --
• 31938, 1,554, WPX, Rachel Wolf 22HC, Squaw Creek, t8/17; cum 90K 11/17;
• 32332, 52, BR, CCU Red River 3-2-16 TFH, Corral Creek, Three Forks, 24 stages, 14 million lbs large/small; t12/17; cum --
• 32827, 2,613, Hess, BB-Lars Rothie-151-95-3229H-7, Blue Buttes, Three Forks, 60 stages; 4.2 million lbs small/large, t11/17; cum 34K after 24 days;
• 33211, 2,025, XTO, Lundin 11X-4E, North Fork, Three Forks, 75 stages, 16.8 million lbs, t11/17; cum 12K after 17 days;
• 33212, 1,756, XTO, Lundin 11X-4AXD, North Fork, 75 stages; 16.8 million lbs, t12/17; cum -- 

The Lundin wells are tracked here.

Huge Fracks -- Random Note -- December 11, 2017

Note the large amount of proppant and/or the large number of stages on several wells that came off confidential the last three days. This page will not be updated.

Tuesday, December 12, 2017: 49 for the month; 159 for the quarter
31629, 2,208, Oasis, Lawlar N 5199 41-23 2B, North Tobacco Garden, 70 stages; 10.2 million lbs; t7/17; cum 182K 10/17;

Monday, December 11, 2017: 47 for the month; 157 for the quarter
32316, 674, EOG, Van Hook 71-1411H, Parshall, 35 stages; 13.1 million lbs, t6/17; cum 105K 10/17;
31630, 1,497, Oasis, Lawlar N 5199 41-23 3T, North Tobacco Garden, Three Forks, 70 stages, 10 million lbs, t7/17; cum 110K 10/17;

Sunday, December 10, 2017: 43 for the month; 153 for the quarter
32315, 615, EOG, Van Hook 70-1411HX, Parshall, 28 stages; 10.6 million lbs; t6/17; cum 106K 10/17;

Saturday, December 9, 2017: 40 for the month; 150 for the quarter
33050, 1,703, EOG, Clarks Creek 75-0719HX, Clarks Creek, 4 sections, 57 stages, 15.1 million lbs; t6/17; cum 230K 10/17;
32794, 2,382, Clarks Creek 74-0719H, Clarks Creek, 4 sections, 59 stages, 17 million lbs, t6/17; cum 230K 10/17;
31836, 1,827, Whiting, Evitt 34-12H, Truax, 4 sections 43 stages; 11 million lbs, t6/17; cum 148K 10/17;

Three High-Intensity Fracked Wells Reported -- Wednesday, November 8, 2017

Released: US crude oil inventory; released at 9:30 a.m. Central Time. Uh-oh. The numbers: +2.2, -3.3, and +9.6. Oh-oh. WTI: $56.46. See this post, now that report has been released.

High-intensity frack wells reported today:

• 33490, 839, Kraken Operating, Kari 30-19 4H, Squires, 50 stages, 15 million lbs, t9/17; cum 14K over 25 days; 
• 33488, 845, Kraken Operating, Kari 30-19 2H, Squires, 50 stages, 15.4 million lbs, t9/17; cum 14K over 23 days; producing, 
• 32599, 2,386, WPX, Ruby Parshall, Antelope, Sanish, Three Forks, 61 stages, 20 million lbs, t9/17; cum 22K over 21 days; 

The Ruby / Ruby Parshall wells are tracked here. 

Active rigs:

$57.07→	11/8/2017	11/08/2016	11/08/2015	11/08/2014	11/08/2013
Active Rigs	54	38	64	193	182

RBN Energy: E&P leverage stable despite price volatility.

Earlier this year, we conducted an in-depth analysis of these same 43 E&Ps in our market study. We found that E&Ps displayed a new and welcome discipline in response to the oil price plunge in late 2014 through mid-2016. As a result, they emerged from the crisis in a remarkably solid financial position. As we explained in subsequent blogs, our universe of E&Ps generated $9 billion in profits in the first quarter of 2017 after more than $160 billion in losses in 2015-2016.

With prices recovering, they boosted their 2017 capital budgets by 40% after slashing spending by 70% over the previous two years. However, in early March 2017, oil prices started falling again and subsequently seesawed higher and lower until the price for benchmark West Texas Intermediate (WTI) finally hit its 2017 low of about $43/bbl in June. Profits and cash flows dipped in the second quarter, although the industry remained in the black. Despite the price volatility, producers decided to maintain their accelerated budgets. We thought it would be a good idea to revisit the balance sheets of the 43 E&Ps to see if any of these companies have been eroding their financial positions.

US crude futures trading soaring past Brent as shale drillers hedge future output. From Reuters. Huge story which will aggravate Saudi's goal to achieve $70 oil.

OPEC cuts / compliance, from Platts via Twitter:

Enerplus' Warrior Pad In Spotted Horn -- This Is How Good The Bakken Is

One-half-million bbls of crude oil / well (# 23541, #26608) in three years.  As of 9/17, still producing 7,000 bbls / month. 

The Enerplus "Warrior Pad" wells in Spotted Horn:

• 23541, 1,545, Enerplus, Honor 150-94-06B-18H TF, 59 stages; 14.3 million lbs; Spotted Horn, t6/14; cum 723K 6/21; it's very, very subtle, but it certainly seems like a frack to the west might have had a positive impact on this well; cum 751K 6/22;
  
• 23542, 1,007, Enerplus, Grace 150-94-06B-07H, Spotted Horn, 28 stages; 3 million lbs, t2/13; cum 380K 6/21; off line 4/20; back on line; cum 400K 6/22;
  
• 26608, 1,601, Enerplus, Courage 150-94-06A-18H, Spotted Horn,55 stages; 13.3 million lbs, t6/14; cum 667K 6/21; cum 686K 6/22;
• 26609, 1,703, Enerplus, Pride 150-94-06A-18H TF, Spotted Horn, 62 stages; 12.7 million lbs, t10/14; cum 574K 6/21; cum 613K 6/22;

The graphic:

Yes! Reason #3 Why I Love To Blog -- July 25, 2017

I have not read the article yet, but just from the headline I know what Mike is going to say. And my hunch is there is yet more that could be said.

The title of his most recent Bakken post at SeekingAlpha: Eagle Ford enhanced completions help show why the marginal cost of production remains low.

I said as much in this post on July 20, 2017, just 5 days ago: if OXY says they are getting Permian for $28/bbl, the "new" bbls coming out of the Bakken are much less -- using the same methodology OXY uses to cost-out oil production.

Summary of the Mike Filloon article:

• New well completions continue to produce more oil and this will continue to pressure the US Oil ETF (USO).
• Production improvements more than offset the increased costs
• The isolation of these well designs provide a look at where economics are headed as operators improve fracturing near the well bore
• Completions using more than 10 million lbs of proppant are improving economics in the Eagle Ford
• This was part of a presentation given at the Bakken Conference and Expo thebakkenconference.com

At the Filloon article, this graphic with the wells that interest me:

We're seeing the same thing in the Bakken. 

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Homeowners Paying A Huge Price For Solar Energy In California

Likewise, oilprice is noting the same thing I noted a few days ago: with the California "duck" or "Twin Peaks," residential users are paying a heavy price for solar energy while government agencies, manufacturing plants, and businesses are getting a huge break. 

Elon Musk, a manufacturer, must be loving it.

Look At These Frack Solutions For Three EOG Wells Coming Off Confidential List Today -- July 25, 2017

For newbies: EOG has led the way in high-intensity fracks in the Bakken. Its my impression that EOG has no shortage of sand. It owns its own sand quarries out-of-state (Wisconsin, Minnesota, or Wisconsin -- I forget specifics -- unimportant). These wells came off the confidential list today:

• 27391, 998, EOG, Parshall 68-1820H, Parshall, 52 stages; 14.6 million lbs; all 100 mesh; t1/17; cum 73K 5/17;
• 28402, 428, EOG, Parshall 30-1820H, Parshall, 40 stages; 10.4 million lbs; all 100 mesh; t1/17; cum 86K 5/17;
• 28404, 1,399, EOG, Parshall 31-1820H, Parshall, 39 stages; 10.3 million lbs; all 100 mesh; t1/17; cum 74K 5/17;

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Music

For the archives. In a post written yesterday I mentioned an article I would come back to read later. Here is the original comment followed by today's update:

"Hat Trick: How George Strait Became The Most Reliable Star In Music," by Kelefa Sanneh. Her short bio simply says Sanneh has been a staff writer for The New Yorker since 2008. It will be interesting to see if she seems to know anything about country music. It sounds like she actually visited San Antonio to get the story. It must have been culture shock for her.

[Later, I did read this article the next day. It is very, very good and highly recommended for country music buffs. It's the kind of writing one might have found in Rolling Stone in its heyday. I learned a new term: stacked blue jeans. That's when wearing blue jeans long enough that they bunch up when standing up; the purpose is that when on a horse, they cover as much of the boot as possible. So, "stacked blue jeans."]

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The Apple Page

Apple Watch Series 3 will likely be introduced in September, 2017. I like this comment: 

Apple is now firmly back to iPod-style domination for the wearables market.

No competitor has the money and/or the incentive (as they already lost tons of money on their failed wearables efforts) to research and develop the futuristic tech Apple is expected to deliver in the next years.

This is Apple's game to play, and win, for the foreseeable future. 

My thoughts about the Apple Watch back on March 9, 2015. 

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Early Communion With "Ghost Species"?

Random Note: High-Intensity Fracks -- July 19, 2017

These wells will be tracked elsewhere, but note the number of stages and amount of proppant used in fracking. These wells were released from the confidential list on July 19, 2017:

• 27390, 918, EOG, Parshall 69-1820H, Parshall, 56 stages; 20.46 million lbs; 100 mesh, t1/17; cum 81K 5/17;
• 28401, 1,611, EOG, Parshall 153-1820H, Parshall, 49 stages; 14.5 million lbs; 100 mesh, t1/17; cum 57K 5/17;
• 29899, 1,045, Liberty Resources, ND State 158-95-16-9-5MBH, McGregor, 27 stages, 6.5 million lbs; large (40/70); t1/17; cum 66K 5/17;
• 29900, 1,070, Liberty Resources, ND State 158-95-16-9-5TFH, McGregor, frack data not available, t1/17; cum 63K 5/17;
• 29901, 1,257, Liberty Resources, ND State 158-95-16-9-6MBH, McGregor, 27 stages, 6.5 million lbs; large (40/70), t1/17; cum 86K 5/17;
• 29910, 1,038, Liberty Resources, ND State 158-95-21-28-6TFH, McGregor, frack data not available, t1/17; cum 86K 5/17;
• 32743, 1,723, Hess, HA-Grimestad-152-95-3031H-9, Hawkeye, 60 stages; 4.2 million lbs; large (40/70); small (30/50); t5/17; cum 11K after 8 days;
• 32094, 1,356, CLR, Kukla 7-16H, Chimney Butte, 4 sections, 56 stages; 25.9 million lbs, t5/17; cum 88K 7/17; 

See also this post.