Ovintiv Reports Seven Nice DUCs In South Tobacco Garden -- March 18, 2021

Brent crude sank even lower, down 8% on the day to $62.5 / bbl. It's the biggest one-day drop since last April (and excluding March - April 2020, and the 2008 - 2009 financial crisis, among the largest one-day drops of the last two decades). Wow, lots of exceptions / qualifiers in that breathless tweet. 

Before we get too excited about today, one year ago today, flashback, March 18, 2020:

• Saudi Aramco CEO "comfortable" with $30-oil; one wonders if he is comfortable with $20-oil?
• WTI: $22.87
• Breaking news: US oil prices tumble 14% as recession fears grow
• Iraq desperate for OPEC action as oil prices crash

So, that was exactly one year ago.

Now, back to the Bakken, today.

Active rigs:

$60.08	3/18/2021	03/18/2020	03/18/2019	03/18/2018	03/18/2017
Active Rigs	16	55	65	58	47

One new permit, #38213 --

• Operator: MRO
• Field: Werner (Dunn)
• Comments: MRO has a permit for a Katherine Schettler USA well in section 27-1346-92
• 883' FNL and 1798' FEL

Seven producing wells (DUCs) reported as completed:

• 37101, A/DRL, Ovintiv, Obenour 150-99-28-33-5HLW, South Tobacco Garden, first production, 3/20, t--; cum 152K 1/21;
• 36910, A/DRL, Ovintiv, Bernice 150-99-17-20-4H, South Tobacco Garden, first production, 2/20, t--; cum 242K 1/20;
• 36908, DUC, Ovintiv, Bernice 150-99-17-20-5H, South Tobacco Garden, first production,1/20, t--; cum 151K 1/21;
• 37105, A/DRL, Ovintiv, Obenour 150-99-28-33-1HR, South Tobacco Garden, first production, 3/20, t--; cum 182K 1/21;
• 36647, A/DRL, Ovintiv, Sturgeon 150-99-18-19-78HLW, South Tobacco Garden, first production, 1/20, t--; cum --; off line immediately after only 29 days; remains off line 1/21;
• 36648, A/DRL, Ovintiv, Sturgeon 150-99-18-19-7H, South Tobacco Garden, first production, 1/20, t--; cum 183K 1/21;
• 37102, A/DRL, Ovintiv, Obenour 150-99-28-33-6H, South Tobacco Garden, first production, 3/20, t--; cum 153K 1/21;