Seventeen (17) New Permits -- North Dakota, September 18, 2015

Active rigs:

	9/18/2015	09/18/2014	09/18/2013	09/18/2012	09/18/2011
Active Rigs	67	199	180	194	199

Seventeen (17) new permits --

• Operators: BR (7), MRO (6), Whiting (3), Oasis, 
• Fields: Corral Creek (Dunn), Reunion Bay (Mountrail), Banks (McKenzie), Missouri Ridge (Williams),
• Comments: 

Five (5) permits were renewed, including --

•  one by Cornerstone (a Tafelmeyer in Burke County), two by Enduro (both in Bottineau County); and, two by EOG (both Austin wells in the Parshall oil field, Mountrail County).

One (1) producing well was completed --

• 29889, 109, Enduro, LDCMU 9-32-H1, Little Deep Creek, a Madison well, t9/15; cum --

Comments: for all I know, by this time next year, the Bakken will be dead and abandoned having succumbed to the Saudi surge in production, seventeen (17) new permits in one day does not seem to suggest the Bakken operators have called it quits. In addition to the number -- 17 new permits -- it's important to note that the permits involved four different companies (and did not include CLR SM eenrgy, or EOG, among others still active in the Bakken). Also, note that the permits were across all four major Bakken counties (Mountrail, Dunn, Williams, and McKenzie) and in four different fields. A reminder to newbies: once permits are granted, it is the state's expectation that the wells will be drilled within 12 months, and many companies move much more quickly. In the current pricing environment and considering that most of the Bakken is "held by production," these companies are not permitting wells for the "fun of it." They are in survivor mode and every action speaks volumes. All well there has been a good showing of new permits, but seventeen in one day should catch your attention. Maybe the NDIC folks got these out of the way so they could go hunting next week.