Number Of Active Rigs Exceeds The Number In The Past Two Years OnThis Date -- January 17, 2018

Let's try it again: after a false start yesterday, Dow futures are up over 100 points.


Active rigs:

$63.60→	1/17/2018	01/17/2017	01/17/2016	01/17/2015	01/17/2014
Active Rigs	57	38	49	157	187

RBN Energy: ample crude supplies help boost Rocky Mountain refiners' margins.

Filloon: Occidental well designs  pushes oil production gains.

Occidental  has a large Permian footprint, and has been doing a very good job of improving production per foot. Its focus on west Texas has provided some of the best unconventional geology in the US. OXY continues to optimize frac' design. Controling frac' height and wing half length decreases the chance of interference. This increases the number of locations per section and decreases oil left behind. OXY has seen improvements in both the Wolfcamp and Bone Spring. Its largest improvement has been in Delaware Wolfcamp.

We pulled 120 horizontals completed after 2016. OXY has had several huge results in Eddy County. Four locations produced over 100 MBO of oil in the first two months of well life. Thirty-five completions had a lateral length between 4,000 and 5,000 feet. Sixty-one were longer than 7,000 feet.