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Tuesday, November 1, 2022

No New Permits; Enerplus Renews Six Permits -- November 1, 2022

API data: link here.

  • missing bbls?
  • SPR release?
  • EIA shenanigans in summer, 2022? 
  • how do you get from an expectation of a quarter-million bbl build to an-almost seven-million bbl draw?
  • my hunch: analysts were using 50 US states as the basis when in fact there are 57 (per President Obama) or 54 (per President Biden)

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Back to the Bakken

WTI: $88.37

Natural gas
: $5.714.

Active rigs: 41.

No new permits.

Six permits renewed:

  • Enerplus: six FB Clinton permits in Dunn County, #35508 - #35513, inclusivee.

Two permits canceled:

  • two very old SWD permits

One producing well (a DUC) reported as completed:

  • 36183, n/d, XTO, Olaf 42X-11H, Capa, minimal production;

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