One New Permit -- July 11, 2016

Active rigs:

	7/11/2016	07/11/2015	07/11/2014	07/11/2013	07/11/2012
Active Rigs	29	73	190	185	210

One well coming off confidential list Tuesday:

• 30784, 2,140, HRC, Fort Berthold 152-93-19D-18-8H, Four Bears, 57 stages, 4.9 million lbs, t1/16; cum 83K 5/16; only 50% of each month on-line for past three months;

One new permit:

• Operator: Whiting
• Field: Banks (McKenzie)
• Comments:

Twelve (12) permits renewed:

• Emerald Oil (6), two Eric Stratton Federal permits; two Mongoose permits; two Arsenal Federal permits, all in McKenzie County
• BR (3), one CCU Boxcar and two CCU Audubon permits, all in Dunn County
• Triangle (2), two Simpson permits in McKenzie County
• Texakota, a Hemsing permit in Williams County 

Eleven (11) producing wells completed (at least one, and I assume all, have vapor recovery units attached); it appears from this list, we can determine formations targeted based on legal names used by SM Energy:

• 28890, 772, SM Energy, Stenehjem 15-9HB, Poe, middle Bakken, t6/16; cum --
• 28891, 517, SM Energy, Stenehjem 15X-9H, Poe, t6/16; cum --
• 28892, 783, SM Energy, Stenehjem 15-9HA, middle Bakken, Poe, t6/16; cum --
• 30270, 261, SM Energy, Stenehjem 14-9H, Poe, t6/16; cum --
• 30272, 494, SM Energy, Stenehjem 14X-9HB, Three Forks, Poe, t6/16; cum --
• 30790, 910, SM Energy, Stacey 13-9H, Poe, t6/16; cum 17K after 24 days;
• 30791, 348, SM Energy, Ashley 13X-9H, Poe, Three Forks, t6/16; cum 5K after 18 days;
• 31064, 704, SM Energy, Rich 1X-16HA, Poe, Three Forks, t6/16; cum --
• 31065, 707, SM Energy, Steve 1-16H, Poe, middle Bakken, t6/16; cum --
• 31066, 636, Rini 1X-16HB, Poe, spud date, 6/11/15; TD, 6/25/15; Three Forks, t6/16; cum --

Continental Resources has changed the name of a Radermecher well from an "H2" well to a middle Bakken well.

****************************************

30784, see above, HRC, Fort Berthold 152-93-19D-18-8H, Four Bears:

Date	Oil Runs	MCF Sold
5-2016	13691	12641
4-2016	10883	9671
3-2016	16427	18340
2-2016	34700	48946
1-2016	7461	9257

*****************************

Earnings Season Kicks Off ...

... it sounds like we've seen this movie before...

• "profit slips"
• earnings beat forecast
• revenue beats forecast

Quiet a few talking heads were talking about this all last week, how meaning less the forecasts are becoming. Analysts are setting the bar so low, it's not difficult for companies to "beat forecasts" even as they continue to report lower earnings.

That's what Alcoa did today: earnings and revenue topped forecasts, but profits "declined" year-over-year. On such flimsy results, AA was up 3% at the close, and up another 3% in after-market trading. If Apple's report is similar, one can almost guarantee the stock will be hammered.

************************************
Employee Of The Month