Monday, January 13, 2020

WTI Plummets; Down Almost 2%; Barely Hanging On To The $58-Handle -- January 13, 2020

Reminder: college football tonight. Clemson and some other team. Geaux Tigers. President Trump and First Lady Melania have just arrived ... to chants of "USA! USA! USA!" What a wonderfully warm reception for the first lady. Mike Bloomberg couldn't buy that kind of photo op for $1 billion. Live video shots of US military serving overseas. 

Dow futures: up 14 points but to some extent that's an "overhang" from today's market.

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 Back to Oil and Back to the Bakken

"Plummets" may be too strong a word, but considering how far it had already fallen; and, despite tensions in the Mideast, for WTI falling almost 2% in one day seems to be a bit noteworthy.

Active rigs:

$58.011/13/202001/13/201901/13/201801/13/201701/13/2016
Active Rigs5467553651

Five new permits, #37335 - #37339, inclusive
  • Operator: Whiting
  • Fields: Sanish (Mountrail); Dollar Joe (Williams)
  • Comments:
    • Whiting has permits for a 3-well Miller pad in section 10-153-92, Sanish oil field
    • Whiting has permits for a 2-well Ark pad in section 15-155-97, Dollar Joe oil field
Five permits renewed:
  • EOG (3) two Sidonia permits and one Parshall permit, all in Mountrail County
  • RimRock (2): two Charging Eagle permits, both in Dunn County

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