Wednesday, September 19, 2018

WTI Spikes Above $71 On News Of US Crude Oil Drawdown; Increased Gasoline Demand -- September 19, 2018

Really? ultra light Texas oil could replace Iran's sales to Asia.  This is interesting. I was thinking crude oil. The headline didn't make sense but the story is interesting. Oilprice is suggesting ultra-light condensate, not crude oil, for Asia's expanding petrochemical capacity.

WTI: spikes above $71 today. US crude oil draw reported; gasoline demand improves.

Active rigs:

$71.449/19/201809/19/201709/19/201609/19/201509/19/2014
Active Rigs66553267196

Ten new permits:
  • Operators: QEP (8); WPX, Hess
  • Fields: Van Hook, Mountrail), Squaw Creek (McKenzie), Blue Buttes (McKenzie)
  • Comments: QEP has permits for an 8-well MHA pad in NENE 28-150-92;
Thirteen permits renewed:
  • Petro Harvester (6): five FLX3 permits in Burke County; one Tafelmeyer permit in Burke County
  • MRO (3): an Erbe permit, an Archie permit; and, an Arnew permit, all in Dunn County
  • EOG (2): two Austin permits in Mountrail County
  • Oasis: a Jensen permit in Williams County
  • Murex: an EMU permit in Renville County 
Two producing wells (DUCs) reported as completed:
  • 33993, 1,424, Hess, BB-Burk-151-95-1807H-9, Blue Buttes, t9/18; cum --
  • 33992, 1,721, Hess, BB-Burk-LE-151-95-1807H-1, Blue Buttes, t9/18; cum --
    • wells of interest, running in opposite direction
      • 17060, IA -- taken offline as of 6/18;
      • 23499, IA -- taken offline as of 6/18;
      • 23500, IA -- taken offline as of 6/18;
      • 23501, farther west; not taken offline, no change in production;
      • 23502, farther west; not taken offline, no change in production;
      • 18218, to the east; struggling

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