Hess With Four New Permits; Significant Drop In Number Of Active Rigs -- October 4, 2022

API: reported a "surprise" draw .... well, check it out for yourself ... there's a huge data point that blows me away ... and I think Warren Buffett sees it, also. We'll see the EIA data tomorrow.

ISO NE: renewables now accounting for a paltry three percent of the resource mix in New England. Incredible. Fortunately demand is low.

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Back to the Bakken

Active rigs: 41. A huge drop from the 45 - 47 we've been seeing. We're now in a new quarter, and winter is coming.

WTI: $86.52.

Natural gas: $6.837

Four new oil and gas permits, #39289 - #39292, inclusive:

• Operators: Hess (4)
• Fields: Ray (Williams)
• Comments:
• Hess has permits for four GO-Tong Trust A wells, NENW 20-157-96; 
• to be sited 737 FNL and between 1630 FWL and 1729 FWL

Eight permits renewed:

• Enerplus (6): a shoal (type of sandbar), a fjord, a hogback (geologic: outcropping), an arroyo, a barchan (a type of sand dune), and a cirque (glacial craters carved into mountains) permit, all in McKenzie counties:
• BR (2): two Lillibridge permits, McKenzie County

Eight permits canceled:

• Enerplus: six LK-Bice permits, an LK-Olson permit; and a Kudo permit, all in Dunn County