Friday, July 6, 2018

Three DUCs Reported As Completed; Twelve Permits Renewed; None Canceled; Seven New Permits -- July 6, 2018

Weekly petroleum report, link here:
  • US crude oil reserves unexpectedly rose by 1.2 million bbls (not all that much in the big scheme of things)
  • gasoline production at 10.3 million bbls (marker: 10 million bbls)
  • distillate fuel production at 5.5 million bbls (marker: 5 million bbls, so 5.5 is significant, and good news for the truckers)
  • refineries are operating at a very high 97.1% capacity; almost flat out
  • considering the data today, WTI did very well for oil bulls, rising slightly
Active rigs:

Active Rigs65573176191

Seven new permits:
  • Operators: Kraken (4); CLR (2); Resource Energy Can-Am;
  • Fields: Squires (Williams); Oakdale (Dunn); and, Resource has a wildcat in Divide County 
  • Comments: CLR has permits for two more Oakdale wells in SWNE 26-147-96; Kraken Operating has permits for a 4-well pad in 1-154-103; and finally, as noted, Resource Energy has a wildcat north of Williston, in Divide County, in SENE 21-163-98;
Twelve permits renewed:
  • EOG (4): four Burke permits in Mountrail County
  • CLR (4): two Olympia permits in Williams County; and, two Charleston permits in Williams County
  • Thunderbird (3): three Watson A permits in McKenzie County
  • Oasis: one Kaitlin Federal permit in Mountrail County
And look at this, three completed wells (DUCs) reported as completed (the neighboring wells are still off-line):
  • 32749, --, CLR, Dvirnak 8-7H, Jim Creek,
  • 33221, --, CLR, Miles 7-6H, Dimmick Lake,
  • 33220, --, CLR, Miles 8-6H1, Dimmick Lake

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