Ten DUCs Reported As Completed, Active Rigs At Thirty-Two; WTI At $77 -- January 4, 2022

The road to New England: link here. 

MPC: I may have to add a new category to the blog -- stocks I used to hate but love now or stocks I lucked into. LOL. 

I remember distinctly some years ago telling myself, "never, never, never invest / trade in refiners." 

About six months ago, I violated that rule and acquired a nice position in MPC. I remember exactly when I bought it and why I bought it. 

Shortly after that I had buyer's remorse and remembered one of my cardinal rules (to never buy refining stocks). But my inertia prevented me from selling MPC and I simply kept it, which bugged me every day, and then I sort of forgot about it. But all of a sudden, recommendations for MPC are showing up everywhere. 

I recently posted a link to an article in which MPC and ADM announced a joint venture to manufacture soybean oil to meet the demand for renewable diesel fuel; the facility will be in Spiritwood, ND.

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Back to the Bakken

Active rigs:

$77.00	1/4/2022	01/04/2021	01/04/2020	01/04/2019	01/04/2018
Active Rigs	32	13	55	63	54

No new permits.

Ten producing wells (DUCs) reported as completed:

• 36218, 2,636, Grayson Mill Operating (Equinor), Jake 2-11F XW 1H, Last Chance, first production, 11/21; t--; cum 22K over 12 days;
  
• 37305, 1,715, WPX, Crosby Chase 2-1HZ, Spotted Horn, first production, 5/21; t--; cum 210K 11/21;
  
• 37307, 1,831, WPX, Crosby Chase 2-1HY, Spotted Horn, first production, 5/21; t--; cum 229K 11/21;
  
• 36038, 4,632, Grayson Mill Operating (Equinor), Marcia 3-10F XW 1H, Last Chance, no production data,
• 36036, 2,185, Grayson Mill Operating (Equinor), Marcia 3-10 6H, Last Chance, minimal production data,
• 36037, 2.014, Grayson Mill Operating (Equinor), Marcia 3-10 5H, Last Chance, no production data,
  
• 22652, 1,788, WPX, Charles Blackhawk 31-30HC, Heart Butte, first production, 9/21; t--; cum 69K 11/21;
  
• 37843, 1,330, WPX, Charles Blackhawk 31-30HY, Heart Butte, first production, 9/21; t--; cum 73K 11/21;
  
• 37842, 668, WPX, Charles Blackhawk 31-30HDL, Heart Butte, first production, 9/21; t--; cum 90K 11/21;
  
• 37656, 4,981, MRO, Howling Wolf USA 31-5TFH, Reunion Bay, first production, 8/21; t--; cum 167K 11/21;