Updates
May 3, 2019: for fans of Alex Trabek (?), see first comment -- English equivalent of "schadenfreude" = epicaricacy.
Original Post
WTI: gee, weren't we just talking about $80-oil last month, maybe two weeks ago. Today, WTI closed down 3%; lost almost $2.00/bbl, closing at $61.64.
WTI did fall below $61 during Thursday trading according to Rigzone.
News? I didn't watch the news today. I suppose the drop in the price of WTI could be due to the huge build in US crude oil inventories, but having said that, with all the geopolitcal news it's hard to understand why WTI dropped this much. Not knowing anything in the news it just validates how irrelevant OPEC has become, and how big the US shale revolution is. It's also possible, those Iranian sanctions were again "watered down." Let's check twitter:
- crudehead: "the EIA's supply adjustment is indeed the devil you know" -- linking an HFI Research report
- most Permian players
- all Permian players who got in late/overpaid
- OPEC
- Saudi Arabia
- Russia
*******************************
Back to the Bakken
Active rigs:
| 5/2/2019 | 05/02/2018 | 05/02/2017 | 05/02/2016 | 05/02/2015 | |
|---|---|---|---|---|---|
| Active Rigs | 63 | 60 | 49 | 29 | 86 |
Four new permits:
- Operator: BR
- Field: Elidah (McKenzie)
- Comments: BR has four permits for a Sandie/Shafer pad in section 28-151-97 in Elidah oil field;
Schadenfreude?! Ich weiss nicht, aber epicaricacy?? (Just fooling around!)
ReplyDeleteSorry for the delay in posting. You are so correct. I will add the word to my list of vocabulary words for the granddaughters. Thank you. From an online dictionary:
DeleteIs there an English word for Schadenfreude?
She noted Schadenfreude as an example of such a word, the pleasure that one derives from another person's misfortune, which is from German Schaden, harm, and Freude, joy. She said an English equivalent does exist — epicaricacy. ... Schadenfreude I know it is called. Or epicaricacy, as the English will have it.