Tuesday, October 2, 2018

Every Well Coming Off Confidential List In 4Q16 Has Been Completed; A Shout-Out To John D Rockefeller Who Saved The Whale -- October 2, 2018

PTI: WTI might close a bit lower today but it hit a 4-year intraday high, just barely missing $76 -- WTI hit an intra-day high of $75.91 here. 

Fracking. As far as "all but one producing," I went through the list quickly and could have missed a couple, but it certainly looks like 99.9% are producing; they were all completed.

Operators in North Dakota now have two years to complete a well once it is spud. Going back to 4Q16, every well that came off the confidential list in that quarter has been completed/fracked. All are producing except for one well that had a casing problem..

Crude oil, weekly inventories, API: pending.

The History Page

From twitter a few hours ago:

Now, from wiki:
Marathon Oil, the company's former parent, dates back to 1887 when several small oil companies in Ohio banded together to form The Ohio Oil Company.
In 1889, it was purchased by John D. Rockefeller's Standard Oil. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911.
In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. In 1962, the company changed its name to "Marathon Oil Company". From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel.
In 2005, Marathon Oil announced the spin-off of its Downstream, refining and marketing assets to a separate company called Marathon Petroleum Corporation.

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