Will weekly EIA data corroborate today's data? Link here. API data:
- crude oil inventories rose by almost 15 million bbls
- refineries had been shut down a week earlier due to freezing weather and were just getting back to business as usual
- and, yet, gasoline prices continue to drop
- SPR release: a very, very small 0.8 million bbls
- US crude oil production rose to 12.1million bpd in first week of 2023
- represents an increase of 400,000 bpd for 2022
- but still one million bpd lower than peak production seen in March, 2020
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Back to the Bakken
Active rigs: 44.
WTI: $74.62.
Natural gas: $$3.603.
Three new permits, #39560 - #39562, inclusive:
- Operator: Oasis
- Field: Cottonwood (Mountrail)
- Comments:
- Oasis has permits for three Hagen Federal wells, SWSE 31-157-92;
- to be sited 310 FSL and betweeen 2103 FEL and 2193 FEL
Three permits renewed:
- Enerplus: three Fort Berthold permits, Eagle Nest, Dunn County
Eight permits canceled:
- EOG: five Round Prairie permits; two Mont permits; and one Hardscrabble permit, all in Painted Woods
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