Eleven New Permits -- May 28, 2019

The gasoline / diesel poll at the sidebar at the right: in this neck of the woods, north Texas, diesel is about 30 cents more expensive than the least expensive grade of gasoline. That was certainly the case near San Antonio this pass weekend; the spread might be closer to 20 cents here in the Dallas-Ft Worth area.

Lewisville, TX, about nine miles north of DFW airport: regular gasoline, $2.349; diesel, $2.699 --

Headlines and comments:

• from oilprice.com: OXY to sell Anadarko assets, as deal greatly increased debt (not a bit unusual in such a big deal, but it will be interesting to see if OXY bit off more than it could chew; but again, see this post)
• from oilprice.com: oil markets are stuck once again (the headline seems to suggest someone did not get the memo)

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Back to the Bakken 

Active rigs:

$58.88	5/28/2019	05/28/2018	05/28/2017	05/28/2016	05/28/2015
Active Rigs	64	65	50	29	83

Eleven new permits:

• Operators: Crescent Point Energy (8); Hess (3)
• Fields: Ellisville (Williams County); Banks (McKenzie)
• Comments: 
• Crescent Point Energy has permits for an 8-well Narcisse/Austin pad in NENW 17-158-99, Ellisville oil field; they are all 275 feet from the north line, so the pad will run east-west (or west-east)
• Hess has permits for a 3-well SC-5WXpad in lot 2/section 3-152-99, Banks oil field

Note: this brings us to 606 new oil and gas permits for North Dakota so far this year. At this rate, the state is on track to issue almost 1,500 new permits. Less than a thousand wells will come off the confidential list this year.
One well released from confidential list:

• 35360, SI/NC, Hunt Oil, Halliday 146-92-19-18H-5, Werner, no production data,

The other ten wells that were scheduled to come off the confidential list today and over the long weekend were not posted and remain on the confidential list.

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After The Memorial Day Weekend