CLR Has Three New Permits In Epping Oil Field -- May 20, 2019

UK: the country may nationalize its energy sector. Yes, the entire sector. It appears they like the Venezuela model.

WTI: right in the sweet spot. $55 would be fine; $63 is very, very nice.

Rigs: although the number of active rigs in North Dakota, within limits, (don't take that out of context) doesn't mean a whole lot any more in the Bakken except to monitor activity to some extent,  the number has stabilized at a recent high of around 66. It would be "cool" to see the number of active rigs go to 70 this summer. It's possible with some smaller operators bringing in a rig or larger operators adding a rig, but I'm not holding my breath.

Active rigs:

$63.36	5/20/2019	05/20/2018	05/20/2017	05/20/2016	05/20/2015
Active Rigs	66	61	51	25	80

Three new permits:

• Operators: CLR
• Field: Epping (Williams)
• Comments: CLR has permits for a 3-well Sefolosha pad in SWSW quadrant of section 23-155-99, Epping oil field; there is already one producing well in that drilling unit (#22811) and six more locations in SWSE quadrant of that section. Of those six, the far east one (#35266) has a rig on site.

Five producing wells (DUCs) reported as completed:

• 35169, 725, Kraken Operating, Cass 4-9 2TFH, Oliver, t4/19; cum --; 
• neighbor to the east, #21639, offline
• neighbor to the west, #21778, offline
• 33238, 3,541, Hess, AN-Dinwoodie-153-94-2833H-8, Antelope-Sanish, t4/19; cum --;
• 33236, 2,706, Hess, AN-Dinwoodie-153-94-2833H-6, Antelope-Sanish, t4/19; cum --;
• 33235, 2,154, Hess, AN-Dinwoodie-153-94-2833H-5, Antelope-Sanish, t4/19; cum --;
• 33234, 2,471, Hess, AN-Dinwoodie-153-94-2833H-4, FrackFocus, 33-053-07886, 7 million gallons of water, Antelope-Sanish, t4/19; cum --; 
• AN-Dinwoodie, same drilling unit
• 19887, AN-Dinwoodie-153-94-2833H-1, t7/11; cum 251K 1/19; off line as of 1/19;
• 33237, SI/NC, AN-Dinwoodie-153-94-2833H-7, t--; no production data;