WTI: $94.42. The drop in the price of WTI seems to have slowed; perhaps bottomed again.
OPEC+ met this week; will raise production quota by 250,000 bopd (a drop in the bucket in the big scheme of things) and production provides for domestic consumption and export, and "production" does not necessarily follow "production quota." One can argue that OPEC+ increase in crude oil production is barely keeping up with their own domestic use, particularly in Saudi Arabia where the kingdom is increasing refinery capacity to export refined products.Natural gas: $7.706. Many see this drop perplexing. All things being equal, it suggests analysts are looking toward:
- a further slowdown in economic activity in the third quarter;
- a temperate autumn in Europe;
- adequate natural gas reaching Europe by the time winter hits
Active rigs: NDIC reports 46 active rigs.
Six new permits, #39121 - #39126, inclusive:
- Operator: Grayson Mill (Equinor) (4); Iron Oil Operating (2)
- Field: Todd (Williams County); Bully (McKenzie County)
- Comments:
- Iron Oil has permits for two Stocke wells in lot 4 section 4-148-100,
- to be sited 345 FNL and at 961 FWL and 1011 FWL;
- Grayson Mill has permits for four Cherrey wells in SESW 34-155-101,
- to be sited 403 FSL and 402 FSL and between 2056 FWL and 2236 FWL.
- the Cherrey wells will be north of the Municipal Golf Course and west of Spring Park
- Note: I had this wrong in the original note. A big thanks to the reader who caught my mistake and alerted me.
Map:
I think the Grayson Mill permits are possibly sited one township directly to the north of the graphic and north of the river.
ReplyDeleteYou are so correct. Thank you so much.
DeleteHopefully I have the map correct this time. Again, thank you so much for catching my huge mistake. I thought it strange the way I originally had it, but I guess I'm still getting used to the new NDIC map -- which is an incredibly robust application.
DeleteYou are an incredible mind, Bruce. The volumes of information you provide with next to zero error is remarkable. Thank you! What a value when subscribing to your annual subscription.
ReplyDeleteLOL. I don't know if you are being sarcastic or not. But that's why I have that disclaimer about my typographical and content errors. I rely on my readers to catch my content errors. Thank you. Brucce
DeleteNot sarcastic. Nothing but sincere high praise for your works. Thank you so much.
ReplyDeleteThank you. Much appreciated. My notes will be less frequent and shorter for the next two weeks due to family commitments.
Delete