Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
Nice for former WPX shareholders:
DVN: was up 4.45% today before the close. Held that gain after hours.
Comment: folks may not recall but there was an article not too long ago that said shale operators were going to have a ton of cash to give away. If I can find it, I will link it. Later: here it is. It's an old story. Not sure if it still has relevance.
GS: bullish on energy, ZeroHedge via Oilprice, link here.
Et tu, WB:
********************************
Back to the Bakken
Active rigs:
| $60.05 | 2/16/2021 | 02/16/2020 | 02/16/2019 | 02/16/2018 | 02/16/2017 |
|---|---|---|---|---|---|
| Active Rigs | 15 | 56 | 64 | 56 | 39 |
No new permits.
One permit renewed:
- Resource Energy CanAm: a Bettle permit in Divide County
Twenty-two permits canceled:
- EOG (19): eleven Burke permits in Mountrail County; five Austin permits in Mountrail County; one Parshall, one Sidoia, one Van Hook permit, all in Mountrail County:
- White Butte Oil Operations (2): two Jore Federal permits in McKenzie County;
- Slawson: one Wolverine Federal permit in McKenzie County
WTI slips below $60 in after market trading but is still a solid 59. Whole numbers milestones are just goog optics. 60 looks better than 59 to our brain
ReplyDeleteWhat amazes me is how "stable" the market seems -- sits at $60 despite all the things going on right now. No one can predict the price of oil. But I'm sure a lot of operators are hedging a lot of oil at these prices.
DeleteAccording to a couple of international press pieces I read, seems oil is in a good place right now. I personally like $65/barrel for No dak sweet. Thats my happy zone.
ReplyDeleteAgree. Years ago I wrote that the sweet spot was $55 to $65 or something like; I've long forgotten. Maybe it was $50 to $60. Somewhere in that range.
Delete