WTI Closes Below $46; Eleven New Permits; Five DUCs Completed -- August 30, 2017

Super-long laterals/extended long laterals: an alert reader noted that the three CLR permits released today (see below) are super-long/extended long laterals. For newbies,

• short laterals are generally about 5,000 feet long (9,000 vertical + 5,000 horizontal = 14,000-foot TD); generally EOG in the Parshall oil field;
• long laterals are now the "norm" in the Bakken (9,000 vertical + 9,000 horizontal = 18,000-foot to 21,000-foot TD; almost everywhere in the Bakken, now; 1280-acre or 2-section laterals
• super-long/extended long laterals: rare in the Bakken; 9,000 vertical + 15,000 horizontal = 24,000-foot to 27,000-foot long laterals;

See tags: SuperLongLaterals; ExtendedLongLaterals to see other examples.

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Summary: Daily Active Report

Active rigs:

$45.97↓↓↓	8/30/2017	08/30/2016	08/30/2015	08/30/2014	08/30/2013
Active Rigs	54	33	76	194	185

Eleven (11) new permits:

• Operators: Crescent Point (8); CLR (3)
• Fields: Lone Tree Lake (Williams); Elm Tree (McKenzie)
  Comments: Crescent Point has permits for an 8-well pad in NWNW 29-157-99; CLR has permits for a 3-well permit in NWNW 21-153-94

One permit renewed:

• Cornerstone: a Melby permit renewed in Burke County

Five producing wells (DUCs) reported as completed:

• 32172, 851, Petro-Hunt, Dolezal 146-97-31D-30-3H, Little Knife, t8/17; cum --
• 33243, 1,090, Kraken Operating, Fairbanks 20-17 2H, Oliver, t8/17; cum --
• 33244, 1,258, Kraken Operating, Fairbanks 20-17 3H, Oliver, t8/17; cum --
• 33245, 1,196, Kraken Operating, Fairbanks 20-17 4H, Oliver, t8/17; cum --
• 33246, 1,182, Kraken Operating, Fairbanks 20-17 5H, Oliver, t8/17; cum 3K in 7 days;