Marathon With Three New Permits -- August 6, 2020

ICYMI:

• AAPL is up $ 65 per share since the announcement to split 4 for 1
• the tech-heavy NASDAQ clinched a new record high in early trading, and
• closed above the 11,000-mark for the first time after initially climbing above it on Wednesday, August 5, 2020

Housing industry booming in North Dakota, link at KXNET;

The pandemic caused a major slow down for home construction and sales, but more recently, that’s not the case anymore.

The Commerce Department reported the construction of new homes across the US jumped by 17.3% in June. That increase is definitely showing right here in North Dakota– even though the start of his year didn’t look so good for those in the housing industry.

EOG results: link here.

• generated positive net cash provided by operating activities and free cash flow
• produced 7% more crude oil for 26% less capital expenditures than forecast 
• per-unit cash operating costs below targets
• discovered 500 Bcf net natural gas resource potential in Trinidad
• increased 2020 well cost savings target to 12% from 8%, supporting improved outlook for capital efficiency
• EOG Resources, Inc.today reported a second quarter 2020 net loss of $909 million, or $1.57 per share, compared with second quarter 2019 net income of $848 million, or $1.46 per share. Adjusted non-GAAP net loss for the second quarter 2020 was $131 million, or $0.23 per share, compared with adjusted non-GAAP net income of $762 million, or $1.31 per share, for the same prior year period. Please refer to the attached tables for the reconciliation of non-GAAP measures to GAAP measures.

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Back to the Bakken

Active rigs:

$41.95	8/6/2020	08/06/2019	08/06/2018	08/06/2017	08/06/2016
Active Rigs	12	60	64	58	34

Three new permits, #37776 - #37778:

• Operator: MRO
• Field: Antelope ; Reunion Bay :
• Comments:
• Ida USA: 1404' FNL 1795' FEL; SWNE 34-152-94, Antelope oil field;
• Bulls Eye USA: 400' FSL 476' FWL; SWSW 32-151-93; Reunion Bay;
• Norman USA: 400' FSL 521' FWL, SWSW 32-151-93; Reunion Bay;

One producing well (a DUC) reported as completed:

• 34730, loc/A, Hess, BB-Federal B-151-95-2122H-2, Blue Buttes, t--; cum 85K 2.5 months; a 30K month;