Enerplus With Eight New Permits: Middle East Producers To Accumulate Half-Trillion-Dollar Debt Within Three Years -- July 20, 2020

Mideast on the brink: Middle East producers to amass one-half-trillion dollars in debt in less than three years. Source. Look at the average oil price per bbl this year. Wow!!

Arab states of the energy-rich Gulf are expected to accumulate $490 billion in deficits by 2023 due to the double hit of low oil prices and the coronavirus slowdown, according to Standard and Poors.

The six-nation Gulf Cooperation Council is estimated to post a combined budget deficit of $180 billion this year alone.

It based its estimates on an average oil price of $30 a barrel this year, forecast to rise to $55 in 2022.

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Back to the Bakken

Active rigs:

$40.81	7/20/2020	07/20/2019	07/20/2018	07/20/2017	07/20/2016
Active Rigs	11	55	68	59	31

Eight new permits, #37721 - #37728, inclusive:

• Operator: Enerplus
  Field: Antelope (McKenzie)
• Comments:
• Enerplus has eight permits for a "Winter Fur" pad in SWSE 33-151-94, Antelope oilfield, all 509' to 510' FSL and from 1918' to 1673' FEL
• the winter fur permits: Ermine, Sable, Lynx, Beaver, Marten, Otter, Weasel, and Seal

Enerplus new pad:

• These eight wells will run north.

• The current, producing well section 33, a single-section well, running to the north:
• 23177, 648, Enerplus, Coyote 151-94-33DH TF, Antelope, 1/13; cum 2197K 5/20; 

• Three wells sited in section 28; sections 28/21-151-94:
• 31943, from the north to the south; 690, Enerplus, Furlong 151-94-21A-28H, Antelope, t2/17; cum 402K 5/20;
• 20783, from the south to the north; 1,399, Enerplus, Miles 151-94-28D-21H, Antelope, t9/11; cum 406K 3/20; remains off line 5/20;
• 18303, from the south to the north; PA, Enerplus, Sherwood 28-44H, t9/11; cum 5K;