Tuesday, November 13, 2018

WTI Trades Below $55.50 -- Meeting Trump's Goal To Bring Down The Price Of Oil, Gasoline -- November 13, 2018

Bakken operators hedged through 2019 are going to make a killing. Others? Hard to say; depends on how long this will last and how much farther WTI will fall. CLR does not hedge. Most others do.

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Active rigs:

$55.28🙈11/13/201811/13/201711/13/201611/13/201511/13/2014
Active Rigs65543864188

Three new permits:
  • Operators: Newfield (2); True Oil
  • Fields: Pembroke (McKenzie), Red Wing Creek (McKenzie)
  • Comments: True Oils Red Wing Creek permit targets the Madison formation; 
Ten permits renewed:
  • CLR (7): five Jack permits in Dunn County; and two Sacramento permits in Williams County
  • QEP (2): two MHA permits in Dunn County
  • Petro Harvester: an STR1 permit in Burke County
Two permits canceled:
  • Resource Erngy Can-Am: a Leona permit and a Mathilda permit, both in Divide County
One producing well (a DUC) reported as completed:
  • 32973, 9,061, Joshua USA 13-23TFH-2B, Reunion Bay, t9/18; cum 58K over 15 days; extrapolates to 117K over 30 days; sundry forms not yet scanned in; 11.6 million gallons of water; 89% by weight;

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