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🙈	11/13/2018	11/13/2017	11/13/2016	11/13/2015	11/13/2014
Active Rigs	65	54	38	64	188

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;