- previous week: - 4.992 million
- forecast for this week: -3.90 million
- actual: -11.190 million
- comment: in the past 36 weeks of tracking this data, an EIA drawdown has never exceeded 8 million bbls, and the average is almost exactly 3 million bbls/week; if the EIA data comes anywhere close to a drawdown of 9 million bbls, "Katie, bar the door"
- comment: look at the price of WTI after this data was announced
- for re-balancing, I use EIA data, not API data; EIA data always seems to come in under API data
| $63.48↑↑ | 1/9/2018 | 01/09/2017 | 01/09/2016 | 01/09/2015 | 01/09/2014 |
|---|---|---|---|---|---|
| Active Rigs | 53 | 37 | 58 | 167 | 193 |
Five new permits:
- Operator: Whiting
- Field: Banks (McKenzie)
- Comments: Whiting has permits for a 5-well Wold pad on Lot 1, section 5-153-97; see graphic below;
- Nine Point Energy (2): two Little Muddy permits in Williams County
- NP Resources (2): two Mosser Federal permits in Billings County
- BR: one Manchester permit in Dunn County
- Enduro: one MRPSU permit in Renville County
- MRO: one Stillwell permit in Dunn County
********************************
From Above -- The Whiting Graphic
***************************
Another Example Of The Bakken Phenomenon
Note production profile for this well, pay attention to 11/16:
- 25802, 1,944, Whiting/KOG, Koala Wold 153-97-1-5-9-15H, Banks, 4 sections, t3/14; cum 219K 2/18;
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 11-2017 | 30 | 5970 | 6049 | 16784 | 17547 | 15083 | 2374 |
| BAKKEN | 10-2017 | 23 | 4917 | 4639 | 21849 | 13496 | 6657 | 6770 |
| BAKKEN | 9-2017 | 1 | 45 | 0 | 44 | 3 | 0 | 2 |
| BAKKEN | 8-2017 | 9 | 985 | 1102 | 869 | 3788 | 3762 | 2 |
| BAKKEN | 7-2017 | 30 | 3882 | 3917 | 3085 | 13807 | 11021 | 2698 |
| BAKKEN | 6-2017 | 24 | 3336 | 3281 | 2867 | 9427 | 3379 | 5977 |
| BAKKEN | 5-2017 | 31 | 4077 | 4299 | 3663 | 12549 | 11869 | 589 |
| BAKKEN | 4-2017 | 27 | 3669 | 4104 | 3532 | 10820 | 8880 | 1859 |
| BAKKEN | 3-2017 | 30 | 5693 | 5150 | 5631 | 20333 | 17192 | 3051 |
| BAKKEN | 2-2017 | 28 | 5934 | 6218 | 6688 | 19138 | 17237 | 1817 |
| BAKKEN | 1-2017 | 28 | 7157 | 7433 | 8759 | 20999 | 7638 | 13277 |
| BAKKEN | 12-2016 | 28 | 7648 | 7393 | 10376 | 21716 | 7461 | 14171 |
| BAKKEN | 11-2016 | 30 | 10797 | 11054 | 18987 | 30905 | 2273 | 28542 |
| BAKKEN | 10-2016 | 16 | 4665 | 3922 | 14475 | 12406 | 3004 | 9354 |
| BAKKEN | 9-2016 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 8-2016 | 28 | 2123 | 2242 | 1674 | 7666 | 7544 | 38 |
What happened in late 2016? Yup, you guessed it. A neighboring well was fracked. In this case:
- 32559, 1,416, Whiting, Flatland 43-9HU, Banks, 4 sections, t10/16; cum 160K 11/17;
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