“These milestones were achieved despite less drilling activity, which is testament to productivity but also pipeline infrastructure expansions that helped enable drilled but uncompleted wells to come to market,” the API report stated.WTI: closed up almost $1.00 / bbl today; closed at $58.82. This follows a whopping draw (see below).
API weekly crude oil inventories:
- forecast: a draw of 2.891 million bbls
- actual: a whopping draw of 7.5 million bbls (link here)
- EIA numbers come out Wednesday, June 26, 2019
| $58.82 | 6/26/2019 | 06/26/2018 | 06/26/2017 | 06/26/2016 | 06/26/2015 |
|---|---|---|---|---|---|
| Active Rigs | 62 | 64 | 59 | 30 | 75 |
Two new permits:
- Operators: Kraken Operating; Sinclair Oil & Gas
- Fields: Oliver (Williams); Lone Butte (McKenzie)
- Comments:
- Kraken has a permit for a single Stevenson-Garner well in lot 1/section 6-157-98; Oliver oil field
- Sinclair has a permit for a single Renae well in section 9-147-98, Lone Butte oil field
- Whiting (2): two Lassey permits in McKenzie County
- MRO: a Jan permit in Mountrail County
- Resource Energy Can-Am: a Lincoln State permit in Divide County
- BR: two Three Rivers permits and one Three Washers permit, all in McKenzie County
At 9.30 am MDT, WTI is up $1.60, pushing 59.50
ReplyDeleteLiked statement that better infrastructure is bringing more DUC's on line!
What amazes me is that EIA data shows that inventories plummeted by 12.8 million bbls and price of oil hardly moved. This evening, WTI actually closed down slightly. I think it's amazing EIA inventory numbers can drop that much and WTI hardly moves (actually down at the close).
DeleteIt will be interesting to see how this plays out over the next few days.