Ten Wells Coming Off Confidential List; ND Rig Count Back Up To 56 -- January 6, 2020

Active rigs:

$63.87	1/6/2020	01/06/2019	01/06/2018	01/06/2017	01/06/2016
Active Rigs	56	63	54	39	57

Wells coming off the confidential list:

Monday, January 6, 2019: 21 for the month; 21 for the quarter; 21 for the year:

• 35888, 896, Enerplus, Squall 149-93-07D-12H-TF, 42 stages; 8.2 million lbs; Mandaree, t7/19; cum 118K 11/19;
• 35887, 540, Enerplus, Stormy 149-93-07D-12H-LL, Mandaree, t7/19; cum 127K 11/19; 38K month;
• 35725, 797, Nine POint Energy, State 154-102-25-36-7H,  Rosebud, t7/19; cum 83K 11/19; 

Sunday, January 5, 2019: 18 for the month; 18 for the quarter; 18 for the year:

• 36287, SI/NC, BR, Veeder 3D TFH, Blue Buttes, no production data,
• 36286, SI/NC, BR, Veeder 3E MBH, Blue Buttes, no production data,
• 35317, 720, Oasis, Mildred Nelson Federal 5297 11-30 11TX, Elidah, t7/19; cum 117K 11/19; 30K month;
• 35238, 492, Lime Rock, Anderson 13-24-4TFH, Alger, t7/19; cum 41K 11/19;
• 33191, SI/NC, BR, Franklin 24-36TFH, Little Knife, no production data,

Saturday, January 4, 2019: 13 for the month; 13 for the quarter; 13 for the year:

• 34382, SI/NC, BR, Veeder 3C MBH,  Blue Buttes, no production data, 
• 34362, 307, Petro Harvester Operating Company, FLX4 17-18 163-90 F, a Madison well, t11/19; cum 9K 11/19;

RBN Energy: Crude-to-gas ratio hits six-year high of 30x -- ramifications for oil, gas, and NGLs.

For the first time since late September 2013, the ratio of crude oil to natural gas (CME/NYMEX) futures on Friday hit 30X. That means the price of crude oil in $/bbl was 30 times the price of natural gas in $/MMBtu. Such a wide disparity in the value of the liquid hydrocarbon versus the gaseous hydrocarbon has huge implications for where producers will be drilling, the proportion of associated and wet gas that will be produced, the outlook for NGL production, and a host of other energy market developments. The ratio has been moving higher for the past couple of years, and recently has been boosted by the combined impact of increased tension in the Middle East (higher oil prices) and a warm winter so far in many of the largest gas-burning population centers in the U.S (lower gas prices). But it’s pretty likely that the trend will be with us for the long term. So today, we’ll begin a series that looks at the implications of this price relationship.