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Wednesday, February 2, 2022

Lime Rock Resources With Two New Permits; Fifteen Permits Renewed; BR With One Of Two Rigs Now Active -- February 2, 2022

MPLX eyes expansion of Whistler Pipeline:

  • link here;
  • Permian natural gas pipeline;
    • eyeing expansion from existing 2 Bcf/d p to 2.5 Bcf/d
    • 2.5 Bcf/d is the maximum Whistler can be expanded without building a new pipeline;
    • 450-mile pipeline from Agua Dulce, TX, near Corpus Christi
    • came online in August, 2021
    • late January, 2022: announced plans to build a 35-mile lateral to extend the pipeline deeper into the Permian's Midland Basin near more gas processing plants; this lateral will be completed by late 2022
  • natural gas takeaway capacity is quickly becoming the biggest bottleneck for the basin's future oil and gas production growth
  • would also consider new long-haul Permian natural gas pipeline
  • Tornado 2 gas processing plant comes online late 2022
  • much more at the link

$100 oil is now becoming the consensus:

  • link here;
  • UBS is added to those below calling for $100-Brent oil:
  • Goldman, JP Morgan, Morgan Stanley
  • $90 by end of March, 2022
  • $100 by September, 2022
  • Brent has already crossed above $90 multiple times already this year

*******************************
Back to the Bakken

Active rigs (I'll update this later, if necessary):

$88.26
2/2/202202/02/202102/02/202002/02/201902/02/2018
Active Rigs3414546457

The NDIC shows 36 rigs:

  • one is a CCS well:
  • one is a SWD well, so that means 34 active oil and gas wells
  • and, this is huge in a sense: a reader wrote me a couple days ago that BR (COP) was preparing two rigs for the Bakken; here's one of them:
    • 37925, drl/conf, BR, Lone Beaver 1-1-17MTFH, North Fork,

Two new permits, #38767- #38768, inclusive:

  • Operator: Lime Rock Resources
  • Field: Murphy Creek (Dunn County)
  • Comments: 
    • Lime Rock Resources has permits for two Eleanor Twist wells, to be sited in Lot 3 section 3-143-95; and, 
    • sited between 540 FNL and 590 FNL and between 1826 FWL and 1888 FWL

Fifteen permits renewed:

  • Whiting (7): seven permits for the following wells, all in Williams County: Larson, P Bibler, P Earl Rennerfeldt, Roggenbuck Federal, Satterthwaite, Rooggenbuck, and Iverson
  • Petro-Hunt (6) three Estby permits; three Jorgenson permits, all in Burke County;
  • Rimrock Oil & Gas: a Skunk Creek permit in Dunn County
  • Hess: an RS-State permit in Mountrail County

4 comments:

  1. BR will be picking up B06 when continental is done with it. End of February. Continental releasing 3 rigs in the Bakken to fund new Permian acquisition. BR will pick up 3rd rig in June/July as of now.

    ReplyDelete
    Replies
    1. I'm thrilled to see the roughnecks staying busy ... wherever they're working. Thank you for that. I will watch for the rigs / locations. It is amazing how fast one rig can drill an entire pad.

      Delete
  2. Harold Hamm: distracted boyfriend
    Bakken: angry girlfriend
    Permian: hot chick in red dress cruising down the street

    ReplyDelete
    Replies
    1. I wish I had thought of that....about as accurate as one can be .... thank you. Pretty funny.

      Delete

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