WTI Closes Seven Cents Below $79; Four New Permits -- October 5, 2021

Breaking: Jim Cramer will be interviewing ENB/CEO at top of the hour on Mad Money. Jim has made it very clear. He said he has been very, very negative on oil. He says very clearly four oil companies represent change: ENB, PXD, CVX, and DVN. "These are real change companies" -- Jim Cramer. Quite amazing. See my "Devon post," August 7, 2021. 

$3.5 trillion bill: LOL. I've been saying this for weeks. Joe Manchin has his price. LOL. He must have finally gotten something he wanted into the spending bill. Now signals he's ready to support super spending. It's good that the $3.5 trillion won't cost taxpayers a dime, according to Resident Biden. LOL. 

Debt ceiling: meanwhile, GOP getting ready to support raising the debt ceiling. 

Simple arithmetic: 1+1 = 3.

• 1: $3.5 trillion spending bill
• 1: debt ceiling raised
• 3: market

NFLX: surges on back of "The Squid Game." Netflix hits record high. Netflix downloads hit record high. This is quite incredible. No link. Featured on CNBC. Google it. In original language. Dubbed. Still #1 in US. Reminder: Seinfeld back on Netflix. 

WTI: wowza! Closes just seven pennies below $79. Nothing to suggest this isn't going higher in the short term. 

Hold your horses: link to Tsvetana Paraskova. The energy transition will take decades, not years. Some / many / most energy transition proponents (may) have confused Covid energy demand destruction with a change in consumer behavior.

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Back to the Bakken

TENORM:

• North Dakota has permitted a second TENORM waste well
  
• will be located halfway between Williston and Alexander along US Highway 85.
• link to WillistonHerald.

Active rigs:

$78.93	10/5/2021	10/05/2020	10/05/2019	10/05/2018	10/05/2017
Active Rigs	23	11	58	64	59

Four new permits, #38598 - #38601, inclusive:

• Operator: Murex Petroleum
• Field: Tioga and West Tioga (Williams)
• Comments:
• Murex -- first time we've seen this name in a long time in the Bakken -- has permits for two Sheldon Mark wells, and two Borstad wells, 
• all in NESE 34-158-95;
•  the wells will be sited 2227 FSL and between 510 FEL and  660 FEL;

Ovintiv resurveyed five locations, the Kramer pad in NENE 18-150-97, McKenzie County;