"Holy Nightmare, Batman, What Do We Do Now?" -- May 25, 2017

Saudi orchestrates a nine-month extension of OPEC's "highly successful" production cut. Result: WTI falls 5%. 

Sort of reminds me of "Baghdad Bob."

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Active rigs:

$48.84	5/25/2017	05/25/2016	05/25/2015	05/25/2014	05/25/2013
Active Rigs	50	28	83	191	186

Three new permits:

• Operators: HRC, Resonance Exploration, Petro-Hunt
• Fields: Eagle Nest (Dunn), Westhope (Bottineau), Little Knife (Billings)
• Comments:

One producing well (DUC) reported as completed:

• 31946, 1,232, EOG, Van Hook 44-3626XH, Parshall, t5/17; cum -- (17910)

And that was it; nothing else particularly noteworthy.

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The Bubble Economy