Monday, April 1, 2019

WTI Closes Above $62 (Barely); Slawson Reports Two Completed DUCs -- April 1, 2019

Active rigs:

Active Rigs6560502997

Four new permits:
  • Operators: BR (3): Hess
  • Fields: Pershing (McKenzie); Antelope (McKenzie)
  • Comments: 
    • BR has permits for a 3-well George pad in section 18-150-96, Pershing oil field
    • Hess has a permit for a single AN-Double Bar V well in section 11-152-95 in Antelope field
One permit canceled:
  • XTO: a Cherry Creek State permit in McKenzie County
Two producing wells (DUCs) reported as completed:
  • 31194, 2,390, Slawson, Jore Federal 1-12H, Clarks Creek, t2/19; cum 9K over 7 days;
  • 31192, 1,017, Slawson, Jore Federal 12-12TFH, Clarks Creek, t21/9; cum 3K over 3 days;

Monday, April 1, 2019, T+89, Part 1

I'll be gone all day today. No more blogging until later this evening.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here.

  • Dow: up 165 points
  • WTI: $60.71

WTI Moving Up -- April 1, 2019

Wells coming off the confidential list today, this weekend --   
Monday, April 1, 2019: 4 wells for the month; 4 wells for the quarter
  • 35501, SI/NC, Rimrock Oil, MC MHA 24-10-3TFH, Moccasin Creek, no production data,
  • 35436, SI/NC, XTO, Emma 31X-30HXE, Alkali Creek, no production data,
  • 35219, SI/NC, XTO, Teddy Federal 12X-5HXE, North Fork, no production data,
  • 35218, SI/NC, XTO, Teddy Federal 12X-5D, North Fork, no production data,
Sunday, March 31, 2019: 126 wells for the month; 346 wells for the quarter
  • None: there was no September 31 six months ago
Saturday, March 30, 2019: 126 wells for the month; 346 wells for the quarter
  • 35435, SI/NC, XTO, Emma 31X-30B, 
  • 35267, SI/NC, MRO, Ctherine 44-35H, 
  • 34911, SI/NC, Hunt, Halliday 146-93-13-1H 2
Active rigs:

Active Rigs6660502997

RBN Energy: fuel oil spreads extend IMO 2020 scrubber payout times, part 2.
Some shipowners plan to comply with the IMO 2020 deadlines for limiting sulfur in ship emissions by installing scrubber devices to clean the exhaust generated by burning less expensive high-sulfur bunker fuel. For many, this may work out to be more economical, at least in the interim, than using more costly IMO 2020-compliant fuel with sulfur content of no more than 0.5% or converting the vessel to run on an altogether different fuel such as liquefied natural gas. However, narrowing “sulfur spreads” this year have put that compliance strategy at risk by tripling the time it would take for shipowners to recoup their scrubber investments. Today, we continue an analysis of the changing economics of scrubber installation in the run-up to IMO 2020.