Friday, June 9, 2017

Week 23: June 4, 2017 -- June 10, 2017

For me, the most important post of the past week may have been this one.

Internationally, Saudi cash reserves continue to dwindle. For the archives: despite OPEC / non-OPEC cuts (wink, wink) US crude oil inventories unexpectedly increase.

Nationally, this was the most important story -- at least for American drivers: the average nationwide gasoline price is now at the lowest for this point of the year since 2005. For a nation of non-EV drivers, I just can't imagine a more incredible turnaround -- since 2005. That was before Barack Obama was President Obama. Wow.

The most interesting story in the Bakken might have been posted today. Kraken Operating reported three incredible DUCs -- leases/permits the company bought from CLR, and I think these are better wells than what CLR was getting. This is a good area in the Bakken but not seen as one of the best areas and yet the IPs were incredible.

XTO reports an incredible well after being shut in for a few months 

Random update of an MRO re-frack
Huge jump in production after neighboring well fracked
Five high-intensity fracks announced over weekend 

Bakken 2.0
Ten new permits; sixteen permits renewed; twenty-one wells approved for "tight hole" status
North Dakota oil industry shows signs of a rebound

Bakken economy
Williston's new airport keeps moving along

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