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Tuesday, April 17, 2018

US Crude Oil Inventories Decline Slightly; Essentially Flat -- API -- April 17, 2018; Kraken Operating With Six New Permits In North Dakota

Weekly crude oil inventories, API data:
  • forecast: an increase of 0.625 million bbls of oil
  • actual: a decrease of 1.047 million bbls of oil; oilprice.com said this was in-line with analysts expectation, although API forecast a slight build
  • the EIA data will be released Wednesday morning, 10:30 a.m. EDT
  • oilprice.com headline: "oil prices head higher after API reports crude inventory draw"
  • at close: WTI was up 30 cents for the day; trading at $66.52
  • 30 cents / $66.52 = 0.4%
  • technically, the headline was correct -- "oil prices were higher" -- 0.4%
Active rigs:

$66.524/17/201804/17/201704/17/201604/17/201504/17/2014
Active Rigs59522993186

Seven new permits:
  • Operators: Kraken Operating (6); Hunt Oil
  • Fields: Epping (Williams); Brooklyn (Williams); Ross (Mountrail)
  • Comments: Kraken Operating has permits for a 6-well Kraken pad in NENE 25-155-99
Four permits renewed:
  • Sinclair: four Yauch permits, in McKenzie County

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