WTI Drops Below The All-Important $40-Support Level; Five DUCs Reported As Completed -- September 4, 2020

We'll get to the daily activity report soon enough, but first -- TCM tonight: The T.A.M.I. Show. One word: wow. So many firsts. It was filmed October 28 and 29, 1964, at the Santa Monica Civic Center -- I often think Santa Monica could have become a "bigger city" than it did had the "city fathers" figured out what they had. But I digress. The best segments were put together to make a film which was released December 29, 1964. 

Santa Monica was the terminus of US Route 66. 

And then -- thank goodness for the remote control -- the complete re-airing of today's first round of the PGA's FedEx Tour Championship.

A little soup for dinner and I'm all set. 

Daily activity report .... coming up. 

Labor Day gasoline prices the lowest in 16 years.  

WTI breaks below $40, dropping almost 4%. More than just Saudi Arabia may be in deep doo-doo.

Brent: closing at $42.66, traded down 3.2%.

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The Daily Activity Report

Active rigs:

$39.77	9/4/2020	09/04/2019	09/04/2018	09/04/2017	09/04/2016
Active Rigs	9	61	62	56	33

No new permits.

Six permits renewed:

• Crescent Point Energy: three CPEUSC Austin and three CPEUSC Narcisse permits, all in Williams County;

Three Oasis Bobby wells were reported as plugged or producing (#35591, #35592, and, #35593).

Five producing wells (DUCs) reported as completed:

• 32382, SI/A, CLR, Antelope Federal 9-23H1, Elm Tree, no production;
• 35144, SI/A, CLR, Durant 3-12HSL1, East Fork, no production;
• 35146, SI/A, CLR, Durant 5-12H1, East Fork, no production;
• 35148, SI/A, CLR, Durant 12H1, East Fork, no production;
• 36690, SI/A, Petro Harvester Operating, FTH1 27-34 161-92 B, Foothills, t--; cum 126K 7/20;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	7-2020	31	14253	14963	25404	18547	14410	4137
BAKKEN	6-2020	30	14406	14307	24981	13852	7957	5895
BAKKEN	5-2020	31	15892	15607	28653	14069	12046	2023
BAKKEN	4-2020	30	16228	15900	33209	13012	8378	4634
BAKKEN	3-2020	31	19616	19504	45789	14454	7045	7409
BAKKEN	2-2020	27	14785	14606	37242	14385	100	14285
BAKKEN	1-2020	31	14499	14534	40170	19358	3089	16269
BAKKEN	12-2019	31	16006	15705	102131	20477	0	20477
BAKKEN	11-2019	10	539	0	22152	376	0	376