Six (6) New Permits -- OXY With A Nice Well; Whiting With a Nice Pronghorn Well; BEXP With Two More Nice Wells, Including One Just North of Williston

On Tap for Tuesday

Mike Filloon: a Bakken update; the Red Queen is just a fairy tale.  The article is pretty much all about northeast McKenzie County, which I consider the very heart of the Bakken. I predicted last year that 2012 would be the year operators moved from Mountrail to McKenzie. It turns out northeast McKenzie County will be as big as (or bigger than) the Sanish/Parshall in Mountrail. From Mike's article:

• 20589 is one of the best wells here, if not the best well in the Basin. It is notable that Whiting produced this result while using lower amounts of water and proppant. 
• 20589, 4,815, Whiting, Tarpon Federal 21-4H, Twin Valley, t10/11; cum 251K 8/12;

RBN Energy: will the oil boom continue? Production, yes; prices, probably not.

Reporting earnings tomorrow: OKE, OKS, QEP, STR, VLO, WMB (all after market close?)

Coming off the confidential list on Tuesday:

• 21112, 1,358, MRO, Aisenbrey 21-25H, Big Bend, t7/12; cum 29K 8/12;
  
• 21686, 286, OXY USA, Kubik Trust 2-18-19H-143-95, Murphy Creek, t5/12; cum 41K 8/12;
• 21874, 540, Zavanna, Tony 1-3H, Stony Creek, t8/12; cum 16K 8/12;
• 22176, 1,261, Whiting, Marsh 34-9PH, Dutch Henry Butte, t5/12; cum 45K 8/12;
• 22216, drl, WPX, George Evans 11-2HD, Van Hook,

Putting things into perspective: From the WSJ, putting a face on welfare spat.  From Teegue, the Pugh clause. 

Bakken Operations

Rigs: 182 (significant decrease; new post-high low)

Wells reporting IPs today (reported earlier; see sidebar at the right)

Six (6) new permits -- on track for 2,572 permits for calendar year 2012 (oil and gas wells; does not include salt water disposal wells)

• Operators: Petro-Hunt (3), Zenergy (2), Enduro
  Fields: Eagle Nest (Dunn), Eightmile (Williams), Mouse River Park (Renville)
• Comments: Another day with no Newfield or OXY USA permits; Enduro again, targeting the Madison, probably

Two producing wells completed:

• 21955, 2,972, BEXP, Cvancara 20-16 3H, Alger, t9/12; cum --
• 22081, 3,383, BEXP, Heen 26-35 2H, Todd, t9/12; cum --; just north of Williston;

Triangle US Petroleum assumes operator status for several older wells in McKenzie County.