Wednesday, January 23, 2019

Seven New Permits -- January 23, 2019 -- At The National Level, Huge Crude Oil Build Reported By API

API weekly crude oil inventories: surprise, surprise, another build -- but look at the size of this build -- 6.55 million bbls;
  • expectations - a small draw of 42,000 bbls 
  • I love that "precision" -- 450 million bbls in storage (give or take a few million bbls) and analysts came up with a 42,000-bbl draw -- 42,000/450,000,000 = a nine with four zeroes in front of it before getting to the decimal point -- the AGW crowd would be pleased
  • We'll have to wait until tomorrow morning to see what the EIA says
EIA confirms: US crude oil inventories surge by a whopping 8 million bbls

WTI: despite this massive build, WTI? Flat.

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Back to the Bakken

Wells coming off the confidential list today:
Wednesday, January 23, 2019
  • 34197, 2,086, CLR, Norway 9-5H2, Fancy Buttes, t11/18; cum 10K 11/18; 
  • 33643, IA/n/d, CLR, Ransom 5-20H2, 33-053-08052, 8.7 million gallons water, 90.1% water by mass; Elidah, t--; cum --;  
Tuesday, January 22, 2019
  • 34879, 1,066, Newfield, Berg Federal 149-97-30-31-4H, 33-053-08527, 9.8 million gallons water; 92% water by mass;Haystack Butte, t11/18; cum 13K after 17 days;
  • 34878, 734, Newfield, Berg Federal 149-97-30-31-5H, Haystack Butte, t11/18; cum 9K after 16 days; 
  • 34613, SI/NC, WPX, Benson 3HC, 33-053-08425, no frack data at FracFocus as of 11/18; Squaw Creek, no production data, 
  • 34476, 386, Lime Rock Resources, Laura Sadowsky 2-1-36H-142-96, 33-025-03437, 9.1 million gallons, 92.9% water by mass; Manning, t7/18; cum 42K 11/18;
  • 34475, 389, Lime Rock Resources, Laura Sadowsky 3-1-36H-142-96, Manning, t7/18; cum 47K 11/18;
  • 23939, drl, XTO, FBIR Ironwoman 21X-10E, Heart Butte,
Active rigs:

$52.661/23/201901/23/201801/23/201701/23/201601/23/2015
Active Rigs63573847157

Seven new permits:
  • Operators: Equinor (4): EOG (2); Slawson
  • Fields: Bull Butte (Williams); Parshall (Mountrail); Big Bend (Mountrail)
  • Comments: Slawson has a permit for a Moray Federal well in 21-151-92; EOG has permits for a 2-well Austin pad in section 9-154-90; and Equinor has permits for a 4-well Sam pad in 30-156-102 (Bull Butte)
Three permits renewed:
  • BTA: a 20002 Agate permit in Golden Valley County
  • Crescent Point Energy: a CPEUSC Lowe permit in Williams County
  • Lime Rock Resources: a Schneider permit in Dunn County
One permit canceled:
  • EOG: a Clarks Creek permit in McKenzie County

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