No New Permits; Two DUCs Reported As Completed: Eleven Permits Renewed -- September 24, 2020

Breaking news: so much for all that "player safety." PAC-12 to return with 7-game season. All college conferences now playing football. Pretty amazing. Money talks. Analysts already worried about how to figure out who plays what post-season bowl game. Oh, give me a break. Except for maybe four bowl games, none of them matter, anyway. No asterisk at the end of the season. 

Breaking news: Nikola's ex-CEO vanishes. Mysteriously.

Taking a break: after I post the daily activity report in about fifteen minutes, I'm going to go off the net for awhile. So much is happening right now with regard to some good notes coming out of the Bakken, I need to take a break.

Oasis: nothing new on Oasis. From a week ago --

Oasis Petroleum Inc. skipped payments due September 15, 2020, on some of its debt, becoming the latest oil and gas producer to flirt with bankruptcy amid a prolonged price slump.

The company owed interest on $244.8 million of convertible notes and $834.5 million of unsecured notes maturing in 2022. Oasis Petroleum has 30 days to make good on the missed payments before a formal default. [My calendar suggests that would be about October 15, 2020.]

Led by Chief Executive Officer Thomas B. Nusz, Oasis has failed to post an annual net profit since 2017. The company previously warned in a quarterly filing that it may need Chapter 11 court protection if it can’t refinance its debt. Oasis is in danger of breaching a covenant on its credit facility, and has been working with advisers to explore alternatives.

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The Daily Activity Report

Active rigs:

$40.31	9/24/2020	09/24/2019	09/24/2018	09/24/2017	09/24/2016
Active Rigs	11	57	64	57	33

No new permits.

Two producing wells (DUCs) reported as completed:

• 36725, drl/A, CLR, Bailey 13-13HSL1, Pershing,
• 31967, SI/A, Petro-Hunt, Klevmoen Trust 153-95-17D-7-3H, Charlson, no production data,

Eleven permits renewed:

• Bruin (7): seven FB Leviathan permits, all in section 27-151-94; McKenzie County;
• CLR (4): four LCU Reckitt Federal permits, all in section 22-153-99; Williams County;