Zavanna Has Two New Permits; Triangle USA Coming Out Of Bankruptcy Rebrands As Nine Point Energy -- June 15, 2017

Active rigs: this was posted March 20, 2017 -- this is a pretty big deal.

Some time ago I asked folks if they thought when/if we would ever see 50 active rigs in North Dakota again. The best answer was a reader with some close-hold information suggesting that we would see 50 active rigs by June. I was skeptical; I did not think we would see 50 active rigs in North Dakota in 2017, but here it is, on the first day of spring, 2017, and we have 50 active rigs. Compare to 32 one year ago, and 107 two years. Fifty rigs now easily beats 107 rigs two years ago.

Today, active rigs:

$44.39	6/15/2017	06/15/2016	06/15/2015	06/15/2014	06/15/2013
Active Rigs	56	27	77	187	185

Note: 56 rigs is more than twice the number we had one year ago. For newbies: the numbers of active rigs in the Bakken has little correlation with production of crude oil; the number of rigs correlates with the amount of "activity" in the basin. 

Two new permits:

• Operator: Zavanna
• Field: Stockyard Creek (Williams)
• Comments: wow, it's been a long time since I've seen a Zavanna permit!

Permitted for recompletion:

• 22076, Cornerstone, Ingerson 7-13-24H, Burke County

Operator Transfer: from C12 Energy North Dakota LLC to Scout Energy Management LLC

• 28 oil and gas wells; one SWD well
• all in the Dickinson-Heath-Sand Unit
• oldest permit: 03700
• most recent permit: 13622

Operator Transfer: from Triangle USA Petroleum Corp to Nine Point Energy, LLC. After coming out of bankruptcy, Triangle USA rebrands as Nine Point Energy (see first comment):

• 170 wells (more or less)
• throughout Williams and McKenzie counties
• oldest permit: 08706
• most recent permit: 33518

I track Bakken operators here.