That didn't last long: after a head-fake and drop in oil prices, WTI was back up today, up 1.23%; up 89 cents; and trading at $73.09. See link over at ZeroHedge.
That didn't last long: inflation fears may be starting to pass. Link here.
White House: denies any responsibility for higher gas prices. Fails to mention killing the Keystone XL. Link to Charles Kennedy. The whole purpose of the Keystone XL was to bring western Canadian sands oil to the Texas/Louisiana refineries to "balance" the light oil coming from the US shale plays. The refineries are optimized for oil heavier than the light WTI oil and Canadian oil was perfect. Instead, the White House is now asking for that similar quality oil from Saudi Arabia.
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Back to the Bakken
Active rigs:
| $73.09 | 7/8/2021 | 07/08/2020 | 07/08/2019 | 07/08/2018 | 07/08/2017 |
|---|---|---|---|---|---|
| Active Rigs | 22 | 10 | 59 | 64 | 56 |
No new permits.
Twelve permits renewed:
- Petro-Hunt (7): four Noonan Federal permits, and three Clark Griswold Federal permits, all in McKenzie County.
- BR (4): four Ole permits in McKenzie County.
- EOG: one Burke permit in Mountrail County
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