Newfield With Seven Huge DUCs; Rigs Down To 51 But WTI Over $58; Two New Permits -- December 20, 2017

Active rigs:

$58.05↑↑	12/20/2017	12/20/2016	12/20/2015	12/20/2014	12/20/2013
Active Rigs	51	41	64	182	192

Two new permits:

• Operator: Kraken Operating
• Field: New Home (Williams County)
• Comments:

Thirty-four permits canceled:

• EOG (33):  eighteen Riverview permits, eleven Hawkeye permits, all in McKenzie County; and four Austin permits in Mountrail County
• MRO: one Sheldon permit in McKenzie County

Ten permits renewed:

• Hess (4): four EN-Madisyn permits in Mountrail County
• Lime Rock Resources(2): one Kary permit and one State permit, both in Dunn County
• MRO (2): a Bobby Less USA permit and a Coburn USA permit, both in McKenzie County
• Slawson (2): two Atlantis Federal permits in Mountrail County

Seven producing wells (DUCs) reported at completed:

• 31136, 1,391, Newfield, Jorgenson Federal 148-96-10-15-11H, Lost Bridge, t6/17; cum 79K 10/17;
• 31137, 2,579, Newfield, Jorgenson Federal 148-96-10-15-1H, Lost Bridge, t5/17; cum 138K 10/17;
• 31138, 2,944, Newfield, Jorgenson Federal 148-96-10-15-4HLW, Lost Bridge, t5/17; cum 145K 10/17;
• 31635, 3,449, Newfield, Jorgenson Federal 148-96-10-15-10H, Lost Bridge, t5/17; cum 145K 10/17;
• 31870, 1,940, Newfield, Malm 149-98-11-2-6H, Pembroke, t7/17; cum 119K 10/17;
• 31871, 2,898, Newfield, Malm 149-98-14-23-4H. Pembroke, t7/17; cum 115K 10/17;
• 33420, 1,876, Newfield, Malm 149-98-14-23-5H, Pembroke, t7/17; cum 109K 10/17;

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Crews "Just Keeping" Up With Rig Activity

From The Williston Herald:

Oil production is continuing a gentle rise, but that hasn’t translated into fewer drilled but uncompleted wells or inactive wells.

North Dakota’s Director of Mineral Resources Lynn Helms said he believes the trend might be due in part to prices, but also to lack of workforce, and warned it could become the new normal if the labor crunch continues.

“The ideal frack to rig crew ratio is three to five,” Helms said, “so three frack crews can keep up with five rigs. And that is where we are now. We are just keeping up.”