Tuesday, August 4, 2020

Rimrock Reports Four Nice Completed DUCs; MRO With Five New Permits -- August 4, 2020

API weekly crude oil (link here):
  • unexpected draw of 8.6 million bbls
  • forecast: a modest inventory draw of 3.3 million bbls
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Back to the Bakken

MDU earnings:
  • revenue of $1.36 billion (+4.6% y/y); beats by $60 million (the Bakken is back)
  • EPS: 50 cents/share
  • shares: up 1.5% after release;
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Active rigs:

$41.57
8/4/202008/04/201908/04/201808/04/201708/04/2016
Active Rigs1258645833

Five new permits:
  • Operator: MRO
  • Field: Reunion Bay (Mountrail)
  • Comments:
    • MRO has permits for a five-well pad (Mabel, Plenty Horns, Little Owl, Perry, and Odell) in lot 1, section 6-150-93, Reunion Bay
    • the wells will be 300' FNL and about 900' FEL
Three permits renewed:
  • Whiting: three Dwyer permits in McKenzie County
Four producing wells (DUCs) reported as completed:
  • 36288, drl/A, Rimrock Oil & Gas, Two Shields butte 3-24-12-3HA, Mandaree, t--; cum 98K 5 months; a 24K month;
  • 36291, drl/A, Rimrock Oil & Gas, Two Shields Butte 3-24-12-2H3, Mandaree, t--; cum 41K 3.5 months; a 12K month;
  • 36398, SI/NC, Rimrock Oil & Gas, Two Shields Butte 4-24-12-4H3U, Mandaree, t--; cum 61K 4 months; a 17K month;
  • 36400, SI/NC, Rimrock Oil & Gas, Two Shields Butte 4-24-12-3H, Mandaree, t--; cum 116K 5 months; a 27K month;

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