Friday, March 23, 2018

Rigs Continue To Rise In US; Plunging In Canada; WTI Moves Up Nicely -- March 23, 2018

FWIW, North American oil and gas rigs:
  • US: gained four to 804, which is 152 more than last year at this time
  • Canada: lost 58 (after losing 54 last week, losing 29 the week before that); now down to 161 rigs, or 84 fewer rigs than one year ago
  • did I hear someone say "ouch"?
Big North Dakota energy stories this past week, from, briefly:
  • DAPL adding $10 million / month to ND coffers; DAPL alone would have paid for schools in Williston in less than a year
  • Baby boom: Bakken communities are experiencing a baby boom
    • The number of children born in McKenzie County, located at the heart of the Bakken, has more than quadrupled, from just 60 births reported in 2007, to 245 babies born in 2016. Birth rates in other parts of western North Dakota have more than doubled since the oil boom began. There were 712 babies born in Williams County in 2016, compared to only 306 in 2007. Stark County saw 549 births in 2016, compared to 290 in 2007.
    • too bad we're not going to have the necessary school rooms
  • Natural gas processing expansion: Dunn County supports ONEOK plant expansion; Bear Creek Plant expansion would increase capacity from 80 million to 175 million cf/d
  • New refinery: Meridian's Belfield refinery, 45-day comment period
    • more than 11,000 comments
    • of those, 10,068 were form letters via e-mail; none with relevant comments
    • of all comments, 22% received from the west coast, specifically Oregon, Washington, and California
    • 1.8% of the comments were from North Dakota respondents
Back to the Bakken

Active rigs:

Active Rigs604932104198

Four new permits:
  • Operator: Kraken Operating 
  • Field: Squires (Williams )
  • Comments: Kraken has permits for a 4-well Anseth/Anseth-Sukut pad in NENE 29-155-103;
Another day with no producing wells (DUCs) reported as completed.

No permits canceled.

Three permits renewed:
  • Whiting: a Pronghorn State Federal permit (Billings County); a Niemitalo permit (Mountrail County); and a Crosby Creek permit (Dunn County)

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