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

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Back to the Bakken

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

$88.26	2/2/2022	02/02/2021	02/02/2020	02/02/2019	02/02/2018
Active Rigs	34	14	54	64	57

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