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Wednesday, October 16, 2019

MRO WIth Three New Permits In The Prolific Bailey Oil Field -- October 16, 2019

Making money on $50 oil: as previously announced, COP has increased its quarterly dividend by a whopping 38% --



No shame!


API weekly crude oil inventories:
  • forecast consensus: a build of 2.878 million bbls (I love the false precision; down to the nearest thousand barrels)
  • actual: a huge build of 10.45 million bbls
  • EIA: will post tomorrow; EIA reported a 9.9-million-bbl build back on May 1, 2019
  • a build of 9 million bbls is about one day of US shale production
US shale production nears 9 million bopd; the Bakken nears 1.5 million bopd -- EIA, link here:


The new EIA dashboards have also posted:

Wind energy giving back to the community? I've yet to see this from a wind farm, but here's yet another fossil fuel investment in the local community, from ONEOK:


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Back to the Bakken

Active rigs:

$53.0210/16/201910/16/201810/16/201710/16/201610/16/2015
Active Rigs6069583167

Three new wells, #37093 - #37095, inclusive:
  • Operator: MRO
  • Field: Bailey (Dunn County)
  • Comments:
    • MRO has permits for a 3-well Ruggles/Pomeroy/Wiest pad in section 33-145-93, Bailey oil field
That was all.

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