Sixteen Permits Renewed; BR With Two New Permits -- October 13, 2020

Active rigs:

$40.12	10/13/2020	10/13/2019	10/13/2018	10/13/2017	10/13/2016
Active Rigs	14	58	67	59	33

Active rigs:

• MRO: 3 (up one from this morning)
  
• CLR: 2
• Slawson: 2
• BR: 2
  
• Petro-Hunt: 1
• Hess: 1
• Midwest AgEnergy Group: 1 -- this was the new one this morning
  
• irrelevant: 2
  
• three if you count Midwest AgEnergy Group

Two new permits:

• Operator: BR
• Field: Blue Buttes (McKenzie)
• Comments:
• BR has permits for two more Lillibridge wells on SESW 23-150-96, 550' FSL and from 1481' - 1526" FWL, Blue Buttes oil field;

Sixteen permits renewed:

• EOG (7): seven Burke permits in Mountrail County;
• Petro-Hunt (5): three Mongoose permits and two Arsenal Federal permits;
• Oasis (4): three Fraser Federal permits and one Borden Federal permit, all in Williams County;

Three permits canceled:

• Petro-Hunt (2): two Noonan Federal permits in McKenzie County
• EOG: one Wayzetta permit in Moutnrail County

Covid-19: One Percent Of All US Counties Account For "Bulk" Of Covid-19 "Events" -- Report -- October 13, 2020

"We" shut down the country because of the Covid-19 experience in one percent of all counties in the US.

Link here.

The same counties that voted for Hillary.

Of the top ten counties, four are in/around NYC:

• Kings County (Brooklyn)
• Queens County
• New York County
• Bronx County

In addition:

• Suffolk County, east half of Long Island, was #15.
• Westchester County: #19

In Texas home of the obese:

• Houston (Harris County), TX: #10
• Hidalgo County, TX: south TX border county: #17
• Bexar County (San Antonio); huge Hispanic population, #27

Of interest, in California:

• San Bernardino made the list. This county stands out because unlike most of the other counties on the list, population density is very, very low. San Bernardino County's population density is estimated at 105 people per square mile, which is lower than these four southern California counties: Riverside, San Diego, Orange, and Los Angeles counties.

In fact, of the top fifty, eliminate counties in NJ, NY, and CT, and the list is quite small.  

For all the hand-wringing about the surge of cases in the Dakotas, no county in North or South Dakota made the list. On the other hand Omar Ill-Hand's county in Minnesota made the list.

Oasis: Reader With Question -- October 13, 2020

A reader noted that OAS had a huge fall yesterday even though the bankruptcy announcement was earlier. 

From the reader:

Oasis, down 35%....not surprising due to their recent financial reorganization, but surprising that today (Monday, October 12, 2020) they got the big hit to their already battered stock price. I cannot find any news about why it crashed today as opposed to crashing the day after they announced they were going to file for bankruptcy.

The screenshot sent to me by the reader.

I posted earlier: 

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:

• Whiting has emerged from bankruptcy; Barron's thoughts;
• post bankruptcy, Whiting Petroleum -- choice for oil bulls;
  
• Whiting chart;
• Oasis files for bankruptcy;

I have no idea for the price action yesterday. My hunch this has to do with the traders who are knowledgeable about the bankruptcy proceedings with information that is publicly available but not easily found. 

It appears trading in OAS halted last week. 

Maybe readers have something to add.

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:

• Whiting has emerged from bankruptcy; Barron's thoughts;
• post bankruptcy, Whiting Petroleum -- choice for oil bulls;
  
• Whiting chart;
• Oasis files for bankruptcy;
  

Market:

• earnings season, 3Q20: quick look at early reports: lots of upside surprises
• earnings season: JPMorgan, Citigroup;
• JNJ: opportunity?  (same link)
• JNJ pauses vaccine study; link here;
  

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.

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Back to the Bakken

Active rigs:

$40.12	10/13/2020	10/13/2019	10/13/2018	10/13/2017	10/13/2016
Active Rigs	14	58	67	59	33

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.

Notes From All Over, Part 1 -- October 13, 2020

First things first: set your digital / virtual alarm clocks -- special Apple event at noon central time today.

Amazon Prime Day: started at midnight. I was up at 2:00 a.m. exploring the Amazon app. The savings truly are incredible. The app is incredibly easy to use. Very, very transparent. Highly recommend. So many links but here is one.

BLM: finals finale crashed nearly 70%; beaten by a random Sunday night football game. Link here. Mainstream media sports sites elsewhere try to explain the it away but their arguments fall flat.

Disney: reorganizes its entertainment division; shares rise. Before I get too excited, I need to see a bit more information; at least a year of results; right now it looks like a "press release."

Ford: like Tesla dropped its pricing on its halo EV. Says it wants to give its customers "exceptional value." Bottom line: the Ford Mustang EV which will come in at about $60,000 will drop in price by about $3,000. The Ford salesman will tell you the Mustang can be had for about $40,000. 

Tesla Model Y vs For Mustang Mach-E: nice comparison over at Forbes.

Water: something else to worry about. Must have been a slow news day for some writer. Apparently server farms will try to save money by better designs, relying more on air-cooling than water-cooling. Whatever. For the archives. Link here. There seems to be more than enough water if push comes to shove.

**********************************
Why I Love To Blog

Book review. While looking for something else, I happened to run across this. At the link, scroll to the very bottom. Apparently, among the gazillion reviews for this incredibly fun book to read, one review made the cut. Mine. LOL. 

Hogewash: another blog worth exploring every so often.