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:

$71.44↑↑	9/19/2018	09/19/2017	09/19/2016	09/19/2015	09/19/2014
Active Rigs	66	55	32	67	196

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