Natural Gas Drops Below $3; Six New Permits; Four DUCs Reported As Completed -- January 25, 2023

New Mexico: oil and natural gas production sets new revenue record in 2022. Link here. Fiscal year 2022, for New Mexico:

• revenue nearly $9.7 billion
• an increase of twenty percent over fiscal year 2021;
• the state also recorded more than $3.6 billion in surplus "new money" that is largely attributable to New Mexico's energy industry.

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Back to the Bakken

Active rigs: 45.

WTI: $80.54.

Natural gas: $2.929.

Six new permits, #39591 - #39596, inclusive:

• Operators: Lime Rock Resources (4); Neptune Operating (2)
• Field: Stanley (Mountrail); Squires (Williams)
• Comments:
• Lime Rock has permits for four wells: Moe, Curly, Larry, and Chico, NENE 29-155-91, 
• to be sited 290 FNL and between 655 FEL and 775 FEL
• Neptune Operating has permits for two Sigma Lee wells, SWSE 11-155-103, 
• to be sited 510 FSL with one well 2103 FEL and the other well 2136 FEL.

Four producing wells (DUCs) reported as completed:

• 35411, 150, Crescent Point Energy, CPEUSC Narcisse 2-8-5-158N-99W-MBH,
• 38741, 827, Whiting, Joanna TTT 11-6H,
• 38689, 986, Whiting, Rohde Federal 14-6-2XH,
• 38623, 2,705, MRO, Rossol 24-31H,

Change of operator, from Sinclair Oil l& Gas to SOGC: approximately 140 older wells.