No New Permits, Seven Permits Renewed -- New Technology: RTP -- October 6, 202

RTP: reinforced thermoplastic pipe -- proprietary -- made by Baker Hughes in Houston.

A reader introduced me to a new technology in materials composition for pipelines: non-metallic pipe or reinforced thermoplastic pipe (RTP). 

The reader writes:

• in a nutshell, think of a six-inch 'plastic' PVC pipe Saran-wrapped with many layers of ultra-light, ultra-strong polymer material. 
• some benefits include
• a super shortening of the time for new pipe installation.
• (Aramco laid 90 miles of 4 inch pipe in less than 2 days when steel pipe would have taken 70).
• eliminates corrosion issues.
• built-in sensing lines that monitor 24/7 including nearby external events such as hole digging by 3rd parties.
• 600-foot reels eliminate welding
• possible to install WITHIN existing pipelines for various applications.
• Baker Hughes - manufacturing plant in Houston - claims largest current capacity is 8-inch diameter at over 2,200 psi load.
• bottom line: this is such a fascinating innovation that has the potential to be a disruptive agent in the energy world.

A strong dollar: the last thing "we" need is a strong dollar, and yet, here we are. The dollar is "breaking out." Hitting new multi-year highs. A strong dollar, all other things being equal, will result in lower prices for oil.

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Back to the Bakken

Active rigs, not reported today by the NDIC:

$77.43	10/6/2021	10/06/2020	10/06/2019	10/06/2018	10/06/2017
Active Rigs	26	11	58	64	59

No new permits.

Seven permits renewed:

• Enerplus (6): Bismuth, Cadmium, Brass, Tin, Osmium, Gallium wells, SWSE section 8-147-93, Dunn County;
• Crescent Point Energy: a CPEUSC Austin permit in Williams County

Two permits canceled:

• Grayson Mill Operating: two State wells in SESW section 25-155-100, Williams County;

One producing well (a DUC) reported as completed:

• 36580, 1,469, CLR, Pasadena Federal 13-11HSL, McKenzie County

The NDIC did not report the active rigs today.