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:

• EIA pdf, Bakken: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf
• EIA, pdf, Permian: https://www.eia.gov/petroleum/drilling/pdf/permian.pdf
• EIA, pdf, Eagle Ford: https://www.eia.gov/petroleum/drilling/pdf/eagleford.pdf

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:

$53.02	10/16/2019	10/16/2018	10/16/2017	10/16/2016	10/16/2015
Active Rigs	60	69	58	31	67

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.