WTI Closes Above $60; No New Permits; Number Of Rigs Remain Unchanged At Sixteen -- March 5, 2021

EVs:

• TSLA: closes down 4%; down $24; closes below $600; 52-week high: $938;
  
• NKLA: closes down 7%; down $1.13; closes below $15; 52-week high $93.99;

Buying opportunity?

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Biden owns $6 gasoline in California: social media is starting to mention that President Biden owns $6 gasoline in California -- shutting down the Keystone XL; revoking federal drilling permits; slowing permit approval process; DAPL at risk. As states lift pandemic restrictions, gasoline demand will surge. Today for the first time ever, my corner service station (north Texas, DFW area) was sold out of gasoline. Went down the road but this is almost unheard of, our corner service station running out of gasoline. Occurred once before in my memory: Hurricane Harvey.

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Back to the Bakken

Active rigs:

$66.09	3/5/2021	03/05/2020	03/05/2019	03/05/2018	03/05/2017
Active Rigs	16	54	69	61	45

No new permits.

Four producing wells (DUCs) reported as completed:

• 35665, SI/A, Zavanna, Stranger 28-21 1TFH, Poe, first production, 12/19; t--; cum 132K 1/21;
• 35666, SI/A, Zavanna, Stranger 28-21 2H, Poe, first production, 1/20; t--; cum 188K 1/21;
• 35667, SI/A, Zavanna, Stranger 28-21 3TFH, Poe, first production, 12/19; t--; cum 136K 1/21;
• 35668, SI/A, Zavanna, Stranger 28-21 4H, Poe, first production, 12/19; t--; cum 228K 1/21;