I'm Here But Blogging Might Be Delayed Awhile -- May 18, 2018

Candid:

Inappropriate exuberance:

MIA: in the graphic above, what major oil exporting country is not even shown? Yup, Mexico. And Norway.

Goldman Sachs: don't bet against oil. Okay, these are the folks that have, more than once, "warned" that oil could go below $20. Did anyone really believe that?  Now Goldman Sachs says that oil, after reaching $80 (Brent) "has room to run." Whatever.

Devon moving north over at SeekingAlpha. Mike Filloon --

• the northern Delaware core continues to move further north into New Mexico
• Devon's most recent 2nd Bone Spring locations have shown significant promise and improve the upside to other operators in the area
• We expect results to improve as operators refine well design

Devon's oil curve is much better than other operators here. Concho, Cimarex, and EOG round out the top four. The average Devon location produces almost twice as much oil as the other operators. 

Market: futures up nicely. Dow opens slightly negative but by 10:15 a.m. turns slightly positive. When it turned positive, UNP also went up a bit. 

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Back to the Bakken

Active rigs:

$71.51→	5/18/2018	05/18/2017	05/18/2016	05/18/2015	05/18/2014
Active Rigs	60	52	26	82	190

RBN Energy: FERC, pipeline MLPs, and the IRA, part 2.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you might have read here. This is an entertainment and education site, frequently short on both.

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Whiting Adds Three More Wold Federal Wells

From Thursday's daily activity report --

Six new permits:

• Operators: Hunt (3); Whiting (3)
• Fields: Wolf Bay (Dunn): Sand Creek (McKenzie)
• Comments: Whiting has permits for another 3-well Wold Federal pad in Sand Creek; Whiting's Wold Federal wells in Sand Creek are followed here;