One New Permit; Two DUCs Reported As Completed -- January 12, 2022

Rigzone: Bloomberg -- never thought I would see this from Bloomberg --

The gasoline market is painting a picture of tight supplies this summer -- the last thing Joe Biden will want to see as he tries to contain high fuel prices.

On the New York Mercantile Exchange, futures contracts for gasoline are in an increasingly bullish structure called backwardation. They show that those who trade the fuel expect a summer of relatively weak supply and strong demand. And that doesn’t bode well for a U.S. president who’s trying to keep fuel costs low.

The U.S. typically builds its supplies of gasoline from November through February. Then, they’re drawn back down in spring and the summer driving season.

This year, inventories are starting off well below the seasonal norm and there are signs that work on oil refineries could slow the buildup of stockpiles.

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Back to the Bakken

Active rigs:

$82.64	1/12/2022	01/12/2021	01/12/2020	01/12/2019	01/12/2018
Active Rigs	32	10	55	67	56

One new permit, 38739:

• Operator: Whiting
• Field: Sanish (Mountrail)
• Comments: 
• Whiting has a permit for a Rohde Federal well in lot 7 section 6-153-92; 
• the well will be sited 790 FSL and 309 FWL

Twenty-one permits renewed:

• Whiting (4): four Borseth permits in McKenzie County;
• Petro Harvester Operating Company (4): four FLX permits in Burke County; all in section 17-163-90;
• NP Resources (3): an Agate permit, Golden Valley County; and two Mosser Federal permits, Billings County;
• Enerplus (3): a Widgeon permit, a Scaup permit, and a Pintail permit, all in Dunn County, section 20-148-93;
• EOG (3): two Liberty permits and one Austin permit, all in Mountrail County;
• Liberty Resources: a Tucson permit in Mountrail County;
• BR: one permit for an Ole well in McKenzie County;
• Hunt Oil: one permit for a Patten well in Mountrail County;
• Bowline: one permit for a Novak well in McKenzie County;

Two producing wells (DUCs) reported as completed:

• 38270, 505, CLR, Mittlestadt 9-17H1, Chimney Butte, minimal production, 
• 16316, 280, CLR, Jensen 1-5H, t1/07; cum 227K 11/19; has been off line since 11/19;
  
• 37883, 129, Crescent Point Energy, CPEUSC Sylven 4-11-2-158N-100W-MBH, Winner, no production reported;