Three Wells Coming Off The Confidential List -- September 18, 2020

 OPEC basket, link here, $42.07. That was yesterday, I guess. Today, $41.29. About half what Saudi needs to make its national budget. Not gonna happen.

Saudi Arabia's energy minister: I have no idea what the occasion was, but Khalid Al-falfa was on a real roll yesterday, inventing English words -- the longer he spoke, the worse it got -- telling oil traders not to doubt Saudi Arabia's resolve. Wow. Bizarre. 

Russia says global oil production is now well less than consumption. Well, that's good to hear. "We" only have about five years of crude oil in storage. 

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Back to the Bakken

Active rigs:

$41.03	9/18/2020	09/18/2019	09/18/2018	09/18/2017	09/18/2016
Active Rigs	11	59	64	56	32

Three wells coming off confidential list -- Friday, September 18, 2020: 130 for the month; 201 for the quarter, 647 for the year

• 37238, drl/NC, Slawson, Orca Federal 8-23-26H, Big Bend,
  
• 36841, drl/A,  Hess, TI-State-158-95-3635H-8, Tioga, producing, albeit not much yet;
  
• 36117, drl/NC, Hess, GO-Dahl-156-97-2215H-6, Dollar Joe, producing, a nice well;
  

RBN Energy: bidding for oil and gas lease acreage in the offshore GOM. 

In a normal year, the autumn months would be filled with the smell of brisket at a tailgate barbecue and the sound of college football fans cheering in their favorite team's stadium. But with the college football stadiums largely empty due to COVID-19, is there something that could fill the void?

Well, maybe.

The Bureau of Ocean Energy Management (BOEM) a couple months back issued a notice proposing Lease Sale 256 for oil and gas exploration of 78.8 million acres in the Gulf of Mexico (GOM). You will probably not be able to find the announcement of the lease sale on ESPN this November, but you will be able to tune into the livestream set in New Orleans. Today, we describe the process for bidding and acquiring lease acreage in the Gulf of Mexico.

RBN is pleased to announce that today’s blog was among the winning submissions in our first-ever blog writing competition held for students in Texas A&M’s Trading Risk & Investment Program (TRIP). For more about the contest and links to other top entries, click here.