Three DUCs Reported As Completed; Twelve Permits Renewed; None Canceled; Seven New Permits -- July 6, 2018

Weekly petroleum report, link here:

• US crude oil reserves unexpectedly rose by 1.2 million bbls (not all that much in the big scheme of things)
• gasoline production at 10.3 million bbls (marker: 10 million bbls)
• distillate fuel production at 5.5 million bbls (marker: 5 million bbls, so 5.5 is significant, and good news for the truckers)
• refineries are operating at a very high 97.1% capacity; almost flat out
• considering the data today, WTI did very well for oil bulls, rising slightly

Active rigs:

$73.80↑	7/6/2018	07/06/2017	07/06/2016	07/06/2015	07/06/2014
Active Rigs	65	57	31	76	191

Seven new permits:

• Operators: Kraken (4); CLR (2); Resource Energy Can-Am;
• Fields: Squires (Williams); Oakdale (Dunn); and, Resource has a wildcat in Divide County 
• Comments: CLR has permits for two more Oakdale wells in SWNE 26-147-96; Kraken Operating has permits for a 4-well pad in 1-154-103; and finally, as noted, Resource Energy has a wildcat north of Williston, in Divide County, in SENE 21-163-98;

Twelve permits renewed:

• EOG (4): four Burke permits in Mountrail County
• CLR (4): two Olympia permits in Williams County; and, two Charleston permits in Williams County
• Thunderbird (3): three Watson A permits in McKenzie County
• Oasis: one Kaitlin Federal permit in Mountrail County

And look at this, three completed wells (DUCs) reported as completed (the neighboring wells are still off-line):

• 32749, --, CLR, Dvirnak 8-7H, Jim Creek,
• 33221, --, CLR, Miles 7-6H, Dimmick Lake,
• 33220, --, CLR, Miles 8-6H1, Dimmick Lake