WTI Drops Below $50 -- OPEC Cuts Working -- April 21, 2017

Updates

April 23, 2017: from Oilprice.com -- low oil prices force Abu Dhabi to sell US assets -- Abu Dhabi National Energy Company, known as Taqa --

In North America, Taqa’s oil and gas business is focused on conventional oil and gas exploration and production in Canada. The company’s South Area of oil and gas assets includes properties in Southern Alberta, South West Saskatchewan, Montana, North Dakota, and Wyoming in the U.S. Taqa is also active in power generation in the U.S. and holds an 85 percent interest in a tolling agreement for the Red Oak power generation facility in New Jersey, and 50 percent in the Lakefield wind farm in Minnesota.

Back in 2010, TAQA ranked #50 among operators in North Dakota. One can search the blog for TAQA; quite interesting; targeting conventional formations.

Meanwhile, Saudi Arabia plans more bond sales -- April 23, 2017  -- Bloomberg. 

Original Post 

Saudi is in deep doo-doo.

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Back To The Bakken

Active rigs:

	4/21/2017	04/21/2016	04/21/2015	04/21/2014	04/21/2013
Active Rigs	49	29	91	184	185

Three new permits:

• Operators: Liberty Resources (2), Oasis
• Fields: East Tioga (Mountrail); Todd (Williams)
• Comments:

Sixteen permits renewed:

• Oasis (6): six Lewis Federal permits, all in McKenzie County
• SHD Oil & Gas (3): one Charging Wildcat permit; one War Eagle permit; and, one Luke Neset permit, all in McLean County
• Sinclair (3): one Forest USA permit; two Diamond permits, all in McKenzie County
• HRC (3): three Ann H. Thome wells, all in Williams County
• Ballard Petroleum: one Nelson permit, in Bottineau County

One permit canceled:

• Newfield canceled a Skaar Federal permit in McKenzie County (#30743)