Six Wells Coming Off Confidential List -- March 14 ,2022

Be prepared for a very bumpy ride for the next two weeks. So, what's new? LOL. Release the kraken!

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Back to the Bakken

Active rigs:

$104.60	3/14/2022	03/14/2021	03/14/2020	03/14/2019	03/14/2018
Active Rigs	32	14	55	64	5

Monday, March 14, 2022: 18 for the month, 127 for the quarter, 127 for the year

• 38510, conf, Kraken, Jenna LE 4-33-28 1TFH, Burg, no production data,
• 38509, conf, Kraken, Jenna 4-33-28 3H, Burg, no production data,
  
• 37708, conf, Hess, EN-Johnson A-155-94-2932H-6, Alkali Creek, a nice well, first production, 9/21; t--; cum 123K 1/22; see initial production here.
  

Sunday, March 13, 2022: 15 for the month, 124 for the quarter, 124 for the year

• 38511, conf,  Kraken, Alamo 3-34-27, Burg, no production data,
  
• 38495, conf, CLR, Whitman FIU 8-34H, Oakdale, no production data,
  

Saturday, March 12, 2022: 13 for the month, 122 for the quarter, 122 for the year

• 38364, conf, Petro-Hunt, Boss 154-99-18C_21-1HS, Stockyard Creek, no production data,
  

RBN Energy: Cushing's running low on crude oil, how much is left in the tanks? Part 2. Archived.

The world is in desperate need of more crude oil right now and anybody with barrels is scouring every nook and cranny for any additional volume that can be brought to market. Some of that may come from increased production, but the oil patch is a long-cycle industry, just coming off one of the most severe bust periods ever, and it will take time to get all the various national oil companies, majors, and independents rowing in the same direction again. For now, part of the answer will be to drain what we can from storage — after all, a major purpose of storing crude inventories is to serve as a shock absorber for short-term market disruptions. 

To that end, the U.S. is coordinating with other nations to release strategic reserve volumes to help stymie the global impact of avoiding Russian commodities. Outside of reserves held for strategic purposes though, commercial inventories have already been dwindling as escalating global crude prices have been signaling the market to sell as much as possible. Stored volumes at Cushing — the U.S.’s largest commercial tank farm and home to the pricing benchmark WTI — have been freefalling for months, which raises the question, how much more (if any) can come out of Cushing? In today’s RBN blog, we update one of our Greatest Hits blogs to calculate how much crude oil is actually available at Cushing.