Friday, August 31, 2012

Twenty (20) New Permits; WPX With Permits for Seven Wells In One Section; KOG With Permits for Two 3-Well Pads -- The Bakken, North Dakota, USA

Oil moved up nicely today, up about 1.5% -- for whatever reason. I know RBN Energy said Isaac hit oil harder than natural gas, but with recent news, I did not expect oil to move up today. 

Active drilling permits: 192

One producing well was reported as completed:
  • 19796, 563, CLR, Magnuson 1-19H,
No wells came off the confidential list today, but a lot of new permits. It is not often that it takes two pages for all the permits, but this time, they had to start a second page.

Twenty (20) new permits
  • Operators: WPX (7),  Hess, OXY USA, BEXP (2), KOG (6), BR (3)
  • Fields: Blue Buttes (McKenzie), Poe (McKenzie), Alger (Mountrail), Murphy Creek (Dunn), Lone Tree Lake (Williams) Mandaree (Dunn)
All seven WPX permits are for the same section; it looks like KOG has permits for two 3-well pads.

2 comments:

  1. Oil is an inflation hedge and Bernanke is getting ready to 'pump' more money into the system. That's why it's up.

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    Replies
    1. Thank you. For awhile there I thought speculators were responsible: worried about a) Saudi not being able to keep up with demand; b) Israel striking Iran; c) Federal fracking rules shutting down the onshore oil industry; and, d) reports of record driving in the US this holiday weekend.

      Folks will be able to sleep better knowing that it's just inflation.

      Crazy world. One day speculators' hair/toupees are on fire worried over Mideast implosion, and the next day, they seem to forget.

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