MRO With Two New Permits; WTI Flirts With $63 At The Close -- April 27, 2021

Captain Obvious: I haven't read the article yet. I just saw the headline. Reminder: I recently said that California's decision to ban fracking and eventually end all oil production in the state was political theater and entirely irrelevant.  

Let's see what Tsvetana Paraskova has to say; again I have not read the article yet; let's read it together. 

• first of all, it's a fairly long article;
• she agrees: the ban on fracking will have little impact on US oil production, or even on California production, apparently;
• then a bunch of stuff we already know
• then this: California's average price of regular gasoline, at $4.00 / gallon on April 26, 2021, is the highest in the United States;
• California was the third-largest US state by refining capacity in early 2020, but more than half of the crude oil was supplied by Saudi Arabia, Iraq, Ecuador, and Colombia;
• California is the second largest consumer of petroleum products among all US states;
• California accounts for ten percent of the US total petroleum products consumed;
• and then the article ends, simply saying, a total ban on oil production in California would simply result in lost jobs and increased dependence on production from foreign countries (not from the US)

WTI: up today; on news that OPEC won't open the spigots; Saudi Arabia will stay the course.

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Back to the Bakken

Active rigs:

$62.94	4/27/2021	04/27/2020	04/27/2019	04/27/2018	04/27/2017
Active Rigs	16	30	64	62	48

Two new permits, #38277 - #38278, inclusive:

• Operator: MRO
• Field: Werner (Dunn County)
  
• Comments:
• MRO has two new permits in Werner oil field, NWNE 27-146-92,
• Kisse will be sited 883 FNL 1568 FEL; and,
• Videlius will be sited 883 FNL 1608 FEL

Three permits renewed:

• NP Resources: three Elkhorn Ranch Federal permits, all in Billings County;

Four producing wells (DUCs) reported as completed:

• 36221, drl/A, MRO, Daniel USA 11-2TFH-2B, Sanish-Antelope, astonishing / staggering results: see this post;
  
• 36357, drl/A, Slawson, Gunslinger Federal 9-12-1TFH, Sand Creek, no production data,
  
• 36360, drl/A, Slawson, Gunslinger Federal 10-12-1TFH, Sand Creek, no production data,
• 37089, drl/A, MRO, Jonah USA 11-2H,Sanish-Antelope; a huge well; see this post;