Showing posts with label Fracking_High_Intensity. Show all posts
Showing posts with label Fracking_High_Intensity. Show all posts

Monday, October 5, 2020

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:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-202031245592468936930000
BAKKEN7-2020313111731262445454309742839104
BAKKEN6-202027266372698441947303663007995
BAKKEN5-2020312939328820456883292032337351
BAKKEN4-202029349023438555205332961908313868

 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

Saturday, October 3, 2020

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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20203117560175551696847391450621895
BAKKEN7-2020252103121110188395365052730845
BAKKEN6-2020302882929311245396732766545746
BAKKEN5-2020311849217778239813796937603221
BAKKEN4-202011141509022775150
BAKKEN3-20203141847412344018588336088001
BAKKEN2-20202755183543344984188634088501

Thursday, March 29, 2018

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.
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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 
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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.

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Bakken Economy


Tuesday, March 27, 2018

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
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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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-2018317313873190172411113731878384433
SANISH12-2017122595725025036007033113

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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-2018316792067279318641252102167395889
SANISH12-201715493347560914508589


30131:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-2018231489814719477724077368618732

30488:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-2018316281263010493351000831794475102
SANISH12-2017132656025606042525039563


30133:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-201831462194746139112753541404256119
SANISH12-2017175004948251487087397081788


33290:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH1-2018315528755549304601010375113943594
SANISH12-20171639157385021357269785065414

Tuesday, March 20, 2018

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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2018317224722410745368052049116004
BAKKEN12-2017317746775911812416902895212428
BAKKEN11-201730794579851174344780425031977
BAKKEN10-201731923491541301247945426265009
BAKKEN9-201730953895611318751442426588484
BAKKEN8-20173111034110381565061662543357027
BAKKEN7-2017311246712510162616684566251294
BAKKEN6-201730139811397418440856435688728456
BAKKEN5-201731165551655921089891577731111536
BAKKEN4-20173022076223522309380988806880
BAKKEN3-20172519047187211816656111507645097
BAKKEN2-20172823509240102020963883608822721
BAKKEN1-201731299982952024071680665734710409
BAKKEN12-201631325323285925537693283441934599
BAKKEN11-201630285862874424657617942490436590
BAKKEN10-201631278082775024613563473949116856
BAKKEN9-201630243692433723559461821173234150
BAKKEN8-201631243692424424207437612654716904
BAKKEN7-20163125769259192595747076444752291
BAKKEN6-201626234532299338602395692630313006




Tuesday, January 30, 2018

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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20173031373314201778364354568277385
BAKKEN10-20173128162280341664951373497791481
BAKKEN9-20172822742228291633344843386666073
BAKKEN8-20172227555273621944241612384982996
BAKKEN7-201717117110000
BAKKEN6-20170000000
BAKKEN5-20170000000

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.

Thursday, January 18, 2018

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:

$63.671/18/201801/18/201701/18/201601/18/201501/18/2014
Active Rigs583849157187

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.

Monday, December 11, 2017

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;

Wednesday, November 8, 2017

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:

$57.0711/8/201711/08/201611/08/201511/08/201411/08/2013
Active Rigs543864193182

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:

Sunday, November 5, 2017

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:

Tuesday, July 25, 2017

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 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"?

Wednesday, July 19, 2017

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.