Tuesday, October 13, 2020

No Wells Coming Off Confidential List -- October 13, 2020

Report cards: for the archives. Cato.org annual report card on state governors. New York's governor Cuomo gets an ... drum roll ... F. North Dakota's governor not that much better. I tend to agree --- based on the little I've seen. They all like spending money on pet projects.

Oasis bankruptcy: a reader had a question regarding Oasis. I will come back to it later. Spoiler alert: I don't have an answer. Maybe a reader will know something. For now, some links that might help:

Market:

Siberian water: record ship traffic; ice melt accelerates; link here to The WSJ; what's not to like?

OPEC in deep doo-doo: Oman to introcude 5 percent VAT by April, 2021. Link here

OPEC in deep doo-doo: Saudi Arabia in discussion to work a $10-billion deal to sell a stake in its pipeline business. Link here. Called "Project Seek." Saudi Aramco has an annual $75-billion-annual-dividend payout to cover in each of five consecutive years, starting this year. $10 billion is a pittance.

Not so urgent: Germany - Russian Nord Stream 2 natural gas line. Link here.

That was easy: striking oil workers in Norway agree to go back to work

OPEC basket, link here: another tumble. Starting to look like those New Yorker cartoons. You know the ones. Trading at $41.06, about a buck higher than WTI.

**********************************
Back to the Bakken

Active rigs:

$40.12
10/13/202010/13/201910/13/201810/13/201710/13/2016
Active Rigs1458675933

Active rigs:

  • MRO: 2
  • CLR: 2
  • Slawson: 2
  • BR: 2
  • Petro-Hunt: 1
  • Hess: 1
  • Midwest AgEnergy Group: 1 -- this is the new one
    • MAG 1, file #37833, rig: Akita 520
    • wildcat, lot 1 section 18-145-82
  • irrelevant: 2
    • three if you count Midwest AgEnergy Group

Midwest AgEnergy Group, from September 10, 2020;

  • Midwest AgEnergy Group, LLC, has one new permit; this is the first ND permit for this company; at this website:
    • Categorized under Ethyl Alcohol, Ethanol. Our records show it was established in 2013 and incorporated in ND. Current estimates show this company has an annual revenue of 4799702 and employs a staff of approximately 44; Spiritwood, ND, about 11 miles ENE of Jamestown, ND; there was a natural gas well drilled to about 5,000' back in 1984 or thereabouts; dry;

No wells coming off the confidential list.

RBN Energy: LNG shipping costs, netbacks, and the decision to cancel cargoes, part 2.

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