Enerplus Reports Its "Cat" Wells In Moccasin Creek Oil Field -- May 21, 2018

Exhausted: I'm mentally exhausted. It's hard to know where to begin.  I've been driving all day and listening to Sirius XM Radio all day. SXM comes with the rental; it's the first time I've ever listened to Sirius -- it's quite good, I guess. I did not listen to any news or talk radio, just music stations, and checked in with CNBC very briefly. I kept up with the market today by frequent stops at McDonald's.

The market: The Dow was up almost 300 points today -- the trade war between China and the US is "over." Actually, it never started. Sounds like China will buy all the farm products they can from the US. Winners: Deere and US farmers and ranchers. Losers: South American ranchers (especially Argentina) and non-US farmers around the world. Something tells me Canada will cry foul once they find China will substitute US grain for any Canadian grain it might have planned to buy.

Tesla: most recent "2025, un-callable 5.3% coupon" bonds trading for $86.75. It may not be the all-time low, but it's awful close. Bloomberg (or someone) raised TSLA's target price from current $280/share to $500/share. TSLA shares rose significantly today after that announcement.

Futures: So, futures. Look at this:

WTI: solidly above $72. And that's despite a strong (and strengthening) dollar. A strong dollar generally means less expensive oil; not this time.

Basketball: the Boston Celtics squandered a 2-game lead in the conference championship series (led 2 - 0 after the first two games) by losing two games in a row to the Cleveland Cavaliers. The series is now tied, 2 - 2. Boston was seeded #2 and Cleveland was seeded #4 in this series. Before the series started, I had no favorite. I would like to see Cleveland win now -- LeBron and the city of Cleveland "deserve" it.

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Back to the Bakken

Active rigs:

$72.52↑↑	5/21/2018	05/21/2017	05/21/2016	05/21/2015	05/21/2014
Active Rigs	61	51	25	82	188

Four new permits:

• Operator: CLR
• Field: Avoca (Williams)
• Comments: CLR has permits for a 4-well Collison pad in NWNW 24-154-100

Seven producing wells (DUCs) reported as completed:

• 33359, 2,356, Whiting, Johnson 24-7-3TFH, Truax, t4/18; cum --
• 31130, 2,184, Enerplus, Persian 147-93-06A-07H, Moccasin Creek, t4/18; cum --
• 31126, 817, Enerplus, Bengal 147-93-06A-07H, Moccasin Creek,  t5/18; cum --
• 31128, 1,515, Enerplus, Tabby 147-93-06A-07H TF, Moccasin Creek, t5/18; cum --
• 31127, 2,247, Enerplus, Manx 148-93-31D-30H TF, Moccasin Creek, t4/18; cum --
• 31129, 3,204, Enerplus, Siamese 148-93-31D-30H, Moccasin Creek, t4/18; cum --
• 31125, 2,388, Enerplus, Calico 148-93-31D-30H, Moccasin Creek, t5/18; cum --

Nineteen (19) wells transferred from Sedalia Energy to Murex Petroleum:

• oldest permit: 05615
• most recent permit: 30949
• in the following counties: Renville; McHenry; most of them in McHenry County