Enerplus With Seven New Permits Inside The Reservation -- The Whale Pad -- January 27, 2021

Canadian oil: I don't care for the source and I didn't read the article very closely but I'll post the link now and then come back to this. This is the most important takeaway from the article based on a quick read:

Sure, the Trans-Mountain expansion may still happen, despite strong opposition. But, as Bloomberg’s Julian lee noted in a recent column, even if in four years Biden is replaced by a pipeline-friendly president, it would be too late. 

The ironic twist is that consensus among analysts has it that the United States will continue to need millions of barrels of Canadian oil during these four years, despite the strong green energy agenda of the new administration. 

The question for Alberta’s oil industry is pretty simple: should they soldier on, pump more oil, and pay more to ship it south by rail, always risking a derailment that could lead to a curb in this export option, too, or should they maybe diversify?

The US still needs heavy oil, not much, but some. There are three sources:

• Mexico: declining
• Canada: doesn't know what it's doing
• Saudi Arabia: watching (and excited)

Quick: tell me what "NEOM" is -- there was just an incredibly irritating commercial for "NEOM" on "Fast Money." Yes, I know the answer. Curious if anyone else does and wondering why NEOM is advertising on "Fast Money." It's a very, very slick commercial that will play well to soccer moms but not to savvy investors.

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Back to the Bakken

Active rigs, MRO now has four active rigs in North Dakota:

$52.85	1/27/2021	01/27/2020	01/27/2019	01/27/2018	01/27/2017
Active Rigs	13	55	65	57	38

Seven new permits, #38091 - #38097, inclusive --

• Operator: Enerplus
• Field: McGregory Buttes (on the reservation)
  
• Comments: Enerplus has for seven whale pad wells in SENE/NESE 5-148-93,
• 38091: SENE 5-148-93, 2170 FNL 291 FEL, Three Forks, B1;
  
• 38092: SENE 5-148-93, 2205 FNL 291 FEL, middle Bakken,
  
• 38093: SENE 5-148-93, 2240 FNL 291 FEL, middle Bakken,
• 38094: SENE 5-148-93, 2275 FNL 291 FEL, Three Forks, B1;
• 38095: NESE 5-148-93, 2611 FSL 291 FEL, middle Bakken,
• 38096: NESE 5-148-93, 2576 FSL 291 FEL, Three Forks, B1;
• 38097: NESE 5-148-93, 2541 FSL 291 FEL, middle Bakken,

All horizontals will be running from the east to the west, on 1280-acre spacing.

Note: in a long note like this there will be content and typographical errors. In addition, I often misread file reports. If this information is important to you go to the source.

If that is accurate, there are two wells of interest, both running west to east in the same drilling unit:

• 21751, 770, Enerplus, Humpback 148-93-06B-05-4H TF, McGregory Buttes, t8/12; cum 247K 11/20;
• 21752, 656, Enerplus, Beluga 148-93-06B-05-3H, McGregory Buttes, t2/13; cum 232K 11/20;

Four permits renewed:

• Lime Rock Resources (2): two Garfield permits in Mountrail County;
• Resource Energy Can-Am: a Marauder permit in Divide County;
• Whiting: one Lapica permit in Mountrail County