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	8/4/2020	08/04/2019	08/04/2018	08/04/2017	08/04/2016
Active Rigs	12	58	64	58	33

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;