Another "Surprise" Build -- API -- May 21, 2019

Another "surprise" build, from the API and oilprice;

• forecast: 2.53 million bbl drawdown
• acutal: a 2.4 million bbl build
• a swing of: almost 5 million bbls
• narrative: Including this week’s data, the net build is now 31.92 million barrels for the 21-week reporting period so far this year, using API data.

Twitter reaction: pending

EIA: data to be released tomorrow, Wednesday, May 22, 2019

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Back to the Bakken

Active rigs:

$62.97	5/21/2019	05/21/2018	05/21/2017	05/21/2016	05/21/2015
Active Rigs	65	61	51	25	82

Six new permits:

• Operator: Hess
• Field: Tioga (Williams)
• Comments: Hess has permits for a 6-well TI-Stenbak pad in Tioga oil field, section 25-158-95

Wells coming off confidential list today:

• 35582, SI/NC,  XTO, Halverson 13X-33H, Capa, no production data,
• 35269, SI/NC, Petroshale, Bear Chase 1MBH, Spotted Horn, no production data,
• 35150, SI/NC, XTO, Bullberry Federal 24X-2H2, Lost Bridge, no production data,
• 31562, SI/NC, Slawson, Submariner Federal 3-23-20H, Big Bend, no production data,

Two producing wells (DUCs) reported as completed:

• 35166, 1,042, Kraken, Sutton 3-10 4H, Oliver, t4/19; cum --;
• 35168, 889, Kraken, Cass 4-9 3H, Oliver, t4/19; cum --; 
• neighboring wells:
• 21639, 464, Kraken, Sutton 1-3H, Oliver, t3/12; cum 159K 2/19; offline as of 2/19;
• 21778, 328, Kraken, Cass 1-9H, Oliver, t7/12; cum 138K 2/19; offline as of 2/19;