Tuesday, November 19, 2019

WTI Drops Almost $2/Bbl; Drops Over 3% -- November 19, 2019

IPO: now that it's obvious that the ARAMCO IPO won't support oil prices, WTI dropped over 3% today, and Brent crude dropped 2.7%. The OPEC basket rose 0.5%. Wall Street says the price of oil fell due to the fact that the US war on China trade has not improved, maybe gotten worse. 

Active rigs

Active Rigs5562563964

Six new permits, #37194 - #37199, inclusive:
  • Operator: Slawson (5): North Range Resources
  • Fields: North Fork (McKenzie), Grassy Butte (McKenzie)
  • Comments:
    • Slawson has permits for a 5-well Mauser Federal pad in lots 2 & 4, section 18-149-97, North Fork oil field
      • currently three producing wells sited in that drilling unit: #25432; #25433; and, #23893; all three drilled/completed back in 2013, and all three running between 180K and 215K, cumulative
    • North Range Resources has a permit for another Placid well in lot section 36-146-100, Grassy Butte oil field;
      • there is one existing permit in the same section, targeting the Duperow, Placid 36-2V-D 
      • permit for #37194: 320-acre spacing; will target the Duperow; it looks like the lateral will be about 3,250 feet long; 
      • looking at other wells in the immediate area, one thought: "hope springs eternal"
One permit reinstated:
  • 31392, Slawson, Mauser Federal 2-18-17H
Three permits renewed:
  • Liberty Resources (2): a Christine permit and an LTM permit, both in Mountrail County
  • CLR: a Steward permit in Divide County
Five producing wells (DUCs) reported as completed:
  • 36393, 5,281, MRO, Yesenko USA 11-21TFH, Four Bears, t9/19; cum 25K over first 30 days;
  • 35025, n/d, Whiting, Vance 14-9TFH, Truax, t--; cum --;
  • 35024, n/d, Whiting, Vance 14-9-2H, Truax, t--; cum --;
  • 35277, n/d, Whiting, Vance Federal 41-17-3TFH, Truax, t--; cum --;
  • 35027, n/d, Whiting, Vance 14-9-2TFH, Truax, t--; cum --;

No comments:

Post a Comment