CLR Has Permits For A 12-Well Pad In Banks Oil Field -- May 1, 2018

API: a huge build -- an increase of 3.427 million bbls; oilprice.com headline: "oil crumbles as API reports large crude build." In fact, WTI is stable, up slightly. It gets tedious -- the headlines over at oilprice.com are written in anticipation of "what should happen" based on the data. No, I did not read the story.

EIA weekly data: to be reported tomorrow morning, 9:30 CDT.

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Back to the Bakken

Active rigs:

$67.47→	5/1/2018	05/01/2017	05/01/2016	05/01/2015	05/01/2014
Active Rigs	60	49	29	86	187

Twelve new permits:

• Operator: CLR
• Field: Banks (McKenzie)
• Comments: CLR has permits for a 12-well Patterson/Pittsburgh/Kuhn/Uhlman pad in lot 4 section 7-152-99; at about 1,200 feet FSL and 100 - 1,000 FWL, lot 4 looks like it is in the southwest quarter of the section (see below).

Two permits were canceled: XTO canceled two Myrna permit in Williams County

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The well:

• 28737, 1,423, CLR, Uhlman 1-7H, Banks, t1/15; cum 512K boe 3/18; no evidence this well has been re-fracked (no sundry form; FracFocus):

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2018	19	2939	2473	4693	3998	3826	38
BAKKEN	2-2018	23	3491	3681	5708	6194	136	5881
BAKKEN	1-2018	22	3552	3173	9364	7376	0	7202
BAKKEN	12-2017	0	0	0	0	0	0	0
BAKKEN	11-2017	2	4	205	0	0	0	0
BAKKEN	10-2017	31	2859	3207	1601	5946	5779	39
BAKKEN	9-2017	29	5515	5402	3730	12322	11670	434
BAKKEN	8-2017	31	6631	6543	3935	14745	14468	31
BAKKEN	7-2017	31	6454	6195	4002	12385	11844	300
BAKKEN	6-2017	30	5715	5794	3760	11133	10570	340