Kraken With Three More Permits -- June 29, 2021

Weekly US crude oil data, API:

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.153-million barrels for the week ending June 25, 2021.

Analysts had predicted a draw of 4.686 million barrels for the week.

In the previous week, the API reported a draw in oil inventories of 7.199 million barrels after analysts had predicted a draw of 3.942 million barrels. Crude oil inventories have fallen by more than 37 million barrels since the start of 2021, according to API data, but are still up 19 million barrels since January 2020.

Comment: we'll see the EIA data tomorrow.

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Back to the Bakken

Active rigs:

$73.45	6/29/2021	06/29/2020	06/29/2019	06/29/2018	06/29/2017
Active Rigs	22	10	61	67	59

Three new permits, #38404 - 38406, inclusive:

• Operator: Kraken
• Field: Burg (Williams County) (in the far northwest corner of the state of North Dakota)
  
• Comments:
• Kraken has permits for three Sidney wells to be sited in lot 4 section 5-158-99 Burg oil field;
• the wells will be sited 349 FNL and between 981 FWL and 1047 FWL; the well heads will be thirty-three feet apart;
• there are some fairly decent wells in this area

Permit renewal:

• Rimrock: one Two Shields Butte permit in Dunn County.

Four producing wells (DUCs) reported as completed:

• 36237, drl/A, Slawson, Neptang 3-15-22H, Big Bend, first production, 4/21; t--; cum 21K 4/21;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2021	29	21333	20355	20834	13943	0	13800
BAKKEN	3-2021	0	0	0	0	0	0	0
BAKKEN	2-2021	28	0	0	0	0	0	0

• 37555, loc/A, CLR, Norway 11-5H, Fancy Buttes, minimal production announced;
• 36470, drl/A, Slawson, Periscope Federal 8-10-11-12H, Big Bend, no production data, 
• 36473, drl/A, Slawson, Periscope Federal 9-10-7TFH, Big Bend, no production data,