OPEC Basket Up Over 7%; WTI And OPEC Basket At Parity -- November 4, 2020

Active rigs:

$38.74	11/4/2020	11/04/2019	11/04/2018	11/04/2017	11/04/2016
Active Rigs	13	56	66	55	37

Operators with active rigs:

• MRO: 3
• CLR: 2
• BR: 2
• WPX: 2
• Petro-Hunt: 1
• Hess: 1
• Oasis: 1
• Midwest AgEnergy Group, LLC (not an oil and gas well; CCS)

No new permits.

One producing well (DUC) reported as completed:

• 32714, 2,878, Equinor, Patent Gate 7-6 XE 1H, Poe (McKenzie County) t2/18; cum 117K 9/20;

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Politics

From Rigzone:

Republican Jim Wright was elected as one of three powerful commissioners at Texas’s oil and gas regulator, ending a high-profile battle that had been called “the most important environmental race in the country,” by his Democratic opponent, Chrysta Castañeda.

Wright was ahead in the vote count overnight, and Castañeda conceded Wednesday in a statement.

“Texas will determine its own energy future, and that is a future that includes an all of the above approach led by fossil fuels,” Wright said in a statement. “Together we will find new ways to improve our climate and environment.”

His victory ensures a Republican lock on the leadership of the Texas Railroad Commission, which oversees an industry producing more crude than any OPEC member except Saudi Arabia. 

It’s also a setback for those who see the commission as too lax on environmental issues, particularly the flaring of natural gas.