CLR Brings A Rig Into The Long Creek Unit; CLR Now With Six Rigs In The Bakken; Seven New Permits; Three DUCs Completed -- Nineteen Active Rigs -- May 26, 2021

Nvidia: up $2.09 at the close; down $4.51 after the close;

• quarterly earnings: gaming revenue spikes 106%; data center by 79%;
• revenue: $5.66 billioin vs $5.41 billion expected;
• EPS: $3.66 vs $3.31 expected
• cryptocurrency miners have been grabbing Nvidia's cards as fast as possible to use them in their mining rigs

That’s put Nvidia in a tough spot. The last time the company saw a big run on its cards due to crypto miners, it ended up with a huge inventory overhang when the crypto boom went bust in 2018. Nvidia shares fell from a high of $281.02 in September 2018 to $129.57 in December 2018.

To keep crypto miners from snagging all of the latest cards out there, Nvidia has moved to reduce the rate at which they mine for certain currencies, making them less appealing to miners. The idea is to show that Nvidia is set on ensuring gamers can access the cards they want.

Which leads to the obvious question: were the superb earnings due to gamers buying Nvidia cards or to gamers buying Nvidia cards? Does it matter?

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Back to the Bakken

Active rigs (includes two SWD rigs):

$66.21	5/26/2021	05/26/2020	05/26/2019	05/26/2018	05/26/2017
Active Rigs	21	14	65	65	50

Operators with active oi and gas rigs:

• CLR (6): Gordon Federal, Gale, Jensen, Pasadena Federal, Harrisburg, LCU Truman Federal
• one up from this morning; note: active rig in the Long Creek Unit
  
• also has a SWD rig;
  
• MRO (3): Jake, Goddard USA, Evans USA,
• Ovintiv: Rolfsrud,
• down one from yesterday
  
• Rimrock: FBIR Guyblackhawk,
• Slawson: Mauser Federal,
• Enerplus: Lynx
• Iron Oil Operating: Antelope,
• Whiting: Cvancara,
• Petro-Hunt: Jorgenson,
• Oasis: Cliff
• Crescent Point Energy: CPEUSC Burgess
• Hess: GO-Braaten 
• also has a SWD rig;
  

Seven new permits, #38326 - #38332, inclusive:

• Operator: EOG (6); Resonance
  
• Field: Parshall (Mountrail); Westhope (Bottineau)
  
• Comments: EOG has permits for six Liberty LR permits
• four of them will be sited in NWSE 23-151-91; two will be sited in NWNE/NENW 26-151-91;
• the four in section 23 will be sited between 2465' FSL and 2330' FEL and 1025' FSL and 2300' FEL
• the two (#38330, #38331) in section 26-151-91 will be sited in exactly the same spot, 1200' FNL and 2350' FWL according to the NDIC daily activity report, but that is incorrect according to the scout ticket:
  
• 38331, Liberty LR 125-2629H, 1150 FNL 2350 FWL
• 38330, Liberty LR 66-2629H, 1200 FNL 2350 FWL
  
• Comments: Resonance has a permit for a Resonance Ballantyne injection well
• the well will be sited in SESE 19-163-80, 725' FSL and 165" FEL
  

Three producing wells (DUCs) reported as completed:

• 23792, TA/A, CLR, Monroe 2-2H1, Banks, no production data,
• 23793, TA/A, CLR, Monroe 3-2H, Banks, no production data,
• 35083, drl/A, CLR, Carson Peak 9-35H, Oakdale, first production, t--; cum --;