- total proved reserves as of June 30, 2021, increased 106% from year-end 2020 to 252.3 million barrels of oil equivalent, with an associated PV-10 value of $1.69 billion at SEC Pricing, 87% of which is proved developed
- using strip pricing as of June 30, 2021, total PV-10 value was approximately $2.4 billion
- the midyear reserves exclude Northern's recently announced Permian acquisition expected to close in August
- SEC pricing as of June 30, 2021, was $49.78 per barrel of oil and $2.428 per MMbtu of natural gas
- PDP PV-10 value alone exceeds Q1 2021 total debt by 1.5x and 2.0x at SEC pricing and strip Pricing, respectively
- proved undeveloped reserves included 61.4 net drilling locations, reflecting an average of only 12.3 net organic wells per year over the five-year drill schedule limitation, compared to current guidance of 35.5-37.8 net wells that Northern expects to add to production during 2021
WTI: up 1.7%; up $1.23; trading at $73.62.
Gasoline demand: link here. Most recent week -- 9.3 million bpd.
****************************************
Back to the Bakken
Active rigs:
$73.62 | 7/29/2021 | 07/29/2020 | 07/29/2019 | 07/29/2018 | 07/29/2017 |
---|---|---|---|---|---|
Active Rigs | 23 | 12 | 60 | 62 | 61 |
Two permits canceled:
- CLR: two Clear Creek Federal permits in McKenzic County
Five producing wells (DUCs) reported as completed:
- 31392, drl/NC, Slawson, Mauser Federal 2-18-7H, North Fork, no production data,
- 37198, drl/NC, Slawson, Mauser Federal 9-18-17TFH, North Fork, no production data,
- 37199, drl/NC, Slawson, Mauser Federal 3-18-7H, North Fork, no production data,
- 34341, loc/NC, Ovintiv, Kestrel 154-96-33-28-1H, Grinnell,
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 5-2021 | 30 | 40724 | 40500 | 30977 | 81799 | 76299 | 5405 |
BAKKEN | 4-2021 | 3 | 441 | 441 | 0 | 0 | 0 | 0 |
- 34333, loc/NC, Ovintiv, Kestrel 154-96-33-28-10H, Grinnell,
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 5-2021 | 30 | 26473 | 26327 | 53412 | 59468 | 55470 | 3929 |
BAKKEN | 4-2021 | 3 | 437 | 437 | 0 | 0 | 0 | 0 |
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.