CLR With Fourteen New Permits, All In Elm Tree; Ten Permits Renewed -- November 3, 2020

MDU: preview (November 3, 2002; will report November 4, 2020):

• consensus EPS: 63 cents vs 47 cents last year
• consensus revenue: $1.6 billion (+2.3% y/y)
  

Oil prices today:

Active rigs:

$37.06	11/3/2020	11/03/2019	11/03/2018	11/03/2017	11/03/2016
Active Rigs	14	57	66	55	36

Fourteen new permits, #37945 - #37958, inclusive:

• Operator: CLR
• Field: Elm Tree (McKenzie)
• Comments:
• CLR has permits for fourteen wells, all sited in NESW 14-153-94:
• the fourteen permits will be placed from 2506' FSL to 2515' FSL, and from 2420' FWL to 1900' FWL;
• fourteen wells will run in a single horizontal line from 2420' FWL to 1900' FWL; north to south, the northernmost will be only 15' from the southernmost; east-to-west, each well is 40' from each of its neighboring well. This is the closest I've seen surface well spacing in the Bakken; generally, the surface spacing is at least 50 feet (in one direction) and more than ten feet separation in 90° in corresponding direction;
• the wells:
• Brangus FIU (7)
• Brangus Federal (6) 
• Charolais South Federal (1)

Ten permits renewed:

• Bruin (3): three FB Leviathan permits in McKenzie County
• Whiting (2): two Gullikson permits in McKenzie County
• Rimrock (2): one Hammerhead permit and one Tiger permit, both in Dunn County;
• Oasis (2): one Dahl permit in McKenzie County and one Barron permit in Burke County;
• Newfield: one Bice permit in Dunn County