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Friday, February 15, 2013

Oil Falls in Price

WTI/Bakken spread: $1.00

WTI/Brent spread: $22

4 comments:

  1. Bruce,
    I am watching the Milton wells Divide county and noticed one was tight hole status and the one today says CONF. Both were drilled within 2 days of each other. I know what the symbols stand for but am wondering why the difference of classification or do they mean the same thing. Still learning.
    Dennis

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  2. According to the Scout Tickets:
    23344, DRL, CLR, Milton 2-13H, spud 8/13/12
    23345, CONF, CONF, Milton 3-13H, spud 8/15/12

    The earlier Milton well came off the confidential list a couple of days ago (Wednesday to be exact), and went to DRL ("drill") status; waiting to be completed.

    The second Milton well should come off the Confidential list today but for some reason has not been posted yet, unless my database is off. I'll be watching for it on the daily activity report which will come out after 5:00 pm tonight.

    For all practical purposes (at least for me) there is no difference between "tight hole" and "on the confidential list." I remember a subtle change in wording on the daily activity report some time ago.

    The folks over at the Bakken Shale Discussion Group would know the difference between "tight hole" and "confidential list." I have some personal thoughts on the difference, but at the risk of being laughed at more than usual, I will refrain from posting. Smile.

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    Replies

    1. The term confidential is the word used in the century code where there is specific law on the procedures for withholding information that an operator has provided to the NDIC.

      The term tight hole is not in the law but seems to have crept into various forms and proceedings managed by NDIC over time.

      I suspect NDIC legal is trying to use the term confidential in all official documents and avoid tight hole to minimize the potential for misunderstanding that could lead to legal dispute. In actual practice tight hole has been the same as confidential. Legal hair splitting to some I am sure.

      Delete
    2. Thank you. That's a big help. Thank you for taking time to comment. I'm glad to hear that this appears only to be "legal hair splitting."

      Delete

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