Two Permits Canceled; Five DUCs Reported As Completed; -- July 29, 2021

NOG press release:

• 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.

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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