WTI Below $54; Active Rigs In North Dakota Hold At 60 -- August 6, 2019

Strait-jacketed: with multiple navies in the "gulf," the strait is gonna get very congested. The
Iranian Revolutionary Guard appears to control the Strait of Hormuz right now. Currently in place or likely to show up:

• the aforementioned Iranian Revolutionary Guard
• US navy
• British navy 
• Russian navy
• Chinese navy (announced today)
• French rowboat (Macron yet to announce)

With 23 speedboats the Iranians appear to be getting the best bang for their naval buck. The Iranian speedboat is to the strait what the Toyota pickup was for the desert-bound ISIS.

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Back to the Bakken

Active rigs:

$53.70	8/6/2019	08/06/2018	08/06/2017	08/06/2016	08/06/2015
Active Rigs	60	64	58	34	75

Three new permits, #36816 - #36818, inclusive:

• Operator: Whiting
• Field: Sanish
• Comments: Whiting has permits for a 3-well S-Bar pad in section 2-153-93, Sanish oil field

Four permits renewed:

• BR: four Ivan permits in McKenzie County

Nine producing wells (DUCs) reported as completed:

• 35010, 2,001, Hess, CA-Ferguson Smith-LE-155-95-3031H-1, Capa, t6/19; 14K in 12 days;
• 35006, 1,207, Hess, CA-Ferguson Smith-155-95-3031H-5, Capa, t6/19; 13K in 20 days;
• 35007, 1,760, Hess, CA-Ferguson Smith-155-95-3031H-6, Capa, t6/19; 28K in 24 days;
• 35008, 1,496, Hess, CA-Ferguson Smith-155-95-3031H-7, Capa, t6/19; 20K in 20 days;
• 35009, 2,001, Hess, CA-Ferguson Smith-155-95-3031H-8, Capa, t6/19; 21K in 17 days;
• 30890, 982, Oasis, Stenberg 5199 11-9 8B, Poe, t7/19; cum --;
• 35738, 665, Newfield, Skipjack 149-98-11-2-12H, Pembroke, t6/19; cum --;
• 35737, 1,242, Newfield, Skipjack 149-98-11-2-11H, Pembroke, t6/19; cum --;
• 35377, 732, Newfield, Skipjack 149-98-11-2-5H, Pembroke, t6/19; cum --;