Slawson Reports Two DUCs Completed; Thirteen Permits Renewed; Ovintiv With Three New Permits; Enerplus With One New Permit -- December 8, 2021

Mind the gap: link here.

The estimated copper shortfall by 2030 looks even worse.

AMD / XLNX acquisition: one more milestone reached.

• tea leaves: announcement that deal is closed will be early next week, maybe Monday
• 1.7234
• AMD up slightly at the close; down a bit after hour -- $145.24 --> $250 implied for XLNC
• XLNX up 0.4% at the close; up 0.25% after hours -- $225
• back of the envelope
• delta: $250 - $225 = $25 / XLNX share
• some assume, I suppose, after it's announced that the deal closes, AMD drops a big and XLNX jumps a bit
• 25/2 = 12.50
• 145.24 - 12.50 = $132.75
• 1.7234 * $132.75 = $228 / sh XLNX
• $132.75 / sh AMD

King of LNG: US to beat Qatar at its own game: link to Tsvetana Paraskova. A reader said as much just a couple of days ago. EIA forecast for el fin de 2022:

• US: 11.4 bcf/d
• Australia: 11.4 bcf/d
• Qatar: 10.3 bcf/d

WTI: continues to creep up; up 31 cents today; now at $72.36.

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Back to the Bakken

Flaring targets: link here. 

Active rigs:

$72.36	12/8/2021	12/08/2020	12/08/2019	12/08/2018	12/08/2017
Active Rigs	29	16	55	64	53

Four new permits, #38690 - #38693, inclusive:

• Operators: Ovintiv (Newfield) (3; Enerplus
• Fields: Westberg (McKenzie); Heart Butte (Dunn)
• Comments:
• Enerplus has a permit for a Lob well in SWSE 31-149-92; 
• to be sited 829 FSL and 2084 FEL, part of the "Tennis" pad?
• Ovintive has permits for three Clear Creek Federal wells in SESW 36-152-97; 
• the wells will be sited 295 FSL and between 2529 FWL and 2489 FWL; 

Thirteen permits renewed;

• CLR (6): two Berlain permits in McKenzie County; two Olympia and two Charleston permits, all in Williams County
• MRO (6): all in Dunn County -- Sallie USA, OTT USA, Ellis USA, CHdester USA, Borrud USA, and Bean USA;
• BR: one Hawktail permit in Dunn County

Producing wells (DUCs) reported as completed:

• 37423, 1,263, Slawson, Tempest Federal 2-14H, Big Bend; how coincidental: I noticed the wells were starting to produce earlier to today and posted here;
  
• 37424, 294, Slawson, Orca Federal 3-23-26H, Big Bend, first production, 10/21; t--; cum --;