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Wednesday, October 21, 2020

Demand Destruction, Third Wave, and No US Stimulus: WTI Drops Below $40 --Slawson With Four New Permits; Five Permits Renewed; One DUC Reported As Completed -- October 21, 2020

Active rigs:

$39.81
10/21/202010/21/201910/21/201810/21/201710/21/2016
Active Rigs1462715434
Active rigs decreased by one today, but it means nothing. The Red Trail Energy rig is off the list. That was a carbon capture and storage well; irrelevant. There is no change in the number of active oil and gas wells  (14). 

Four new permits, #37917 - #37920, inclusive -- note there is a mistake on the daily activity report, the scout tickets are accurate -- the information below is from the daily activity report with [my] corrections. The scout tickets do not show the BR well / #37917; the scout tickets show permit #37917 to be the fourth Slawson permit today, Whirlcat Federal 4-31-30TFH. The daily activity report will probably be corrected tomorrow. I've never seen an error with scout tickets; recently I've seen many errors with the daily activity report.

In fact, the error on the daily activity report, BR's Sequoiafill 1D is permit #37617, not #37917 as shown on the daily activity report. Slawson has four new permits, #37917 -#37920, inclusive.

  • Operators: Slawson (3); BR -- that's an error -- should be four new Slawson permits, no new BR permits;
  • Fields: Big Bend (Mountrail); and, Hawkeye (McKenzie) -- that's an error; all new permits should be shown as in Big Bend (Mountrail); none in Hawkeye (McKenzie County) today;
  • Comments:
    • Slawson has permits for a 3-well Sniper Federal (2) / Whirlcat (1) pad in lot 3, section 6-151-92, from 279' to 288' FNL and from 1270' to 1570' FWL, Big Bend, which is wrong; there were four permits for Slawson for a 4-well Sniper Federal  (2) / Whirlcat pad (2); 
    • BR has a permit for a Sequoiafill well in section 36-153-95, 870' FSL and 2620' FEL; Hawkeye oil field; that's wrong; BR did not get any permits today
  • Comment: when I see Slawson active in the Bakken, that's a huge positive indication that things are improving; privately-held; this family-owned company is very conservative; it made my day to see Slawson active in the Bakken;

Five permits renewed:

  • EOG (4): four Burke permits in Mountrail County;
  • Hunt Oil: a Rulson permit in Mountrail County;

One producing well (a DUC) reported as completed:

  • 33686, SI/A, Crescent Point Energy, CPEUSC Berner 6-19-18-157N-99W, Lone Tree Lake, API 33-105-04463; t--; cum 104K 8/20;

2 comments:

  1. You and me both. Large uptick on royalty check this month. Most production to market in several months.

    ReplyDelete
    Replies
    1. Wow, thank you for your support and taking time to write. I always find it amazing a small comment I make in a long note that gets picked up by readers. Very gratifying.

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