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Tuesday, February 14, 2023

"Crude Oil Rose By An Impressive 10.5 Million Bbls" -- API -- February 14, 2023

API: massive crude build pressures oil prices.

  • "rose by an impressive 10.507 million bbls" last week;
  • that's why "we" need to release another 26 million bbls from the SPR;
    • I can't make this stuff up.
  • last year, 2022:
    • commercial inventory increased by a total of 13 million bbls
    • SPR decreased by 221 million bbls

Market wrap: link here.

*******************************************
Back to the Bakken

Active rigs: 47.

WTI: $79.06.

Natural gas: $2.567.

Three new permits, #39658 - #39660, inclusive:

  • Operator: EOG:
  • Field: Stanley (Mountrail)
  • Comments:
    • EOG has permits for three Blueberry wells, SESE 29-155-90, 
      • to be sited 450 FEL and between 500 FEL and 590 FSL.

Active, producing well in that section, 29-155-90:

  • 17689, 1,269, Hess, Burke 20-29H, Stanley, one section spacing, jump in production, 2014; t6/09; cum 412K 12/22;

Thirteen permits renewed:

  • Hess (5): five BB-Federal permits in Blue Buttes, McKenzie County;
  • BR (3): three Lone Beaver permits in North Fork, McKenzie County;
  • Lime Rock Resources (3): one Schneider permit and two Reuben Schneider permits in Dunn County;
  • Murex (2): a Patricia Ann and a Michael Douglas, the former in West Bank, Williams; and, Michael Douglas in Beaver Lodge, Williams;

One permit canceled:

  • 38091, Enerplus, Orca, McGregory Buttes, Dunn County;

Two producing wells (DUCs) reported as completed:

  • 29293, 2,260, Slawson, Vixen Federal 3-19-30H, Big Bend, t--; cum 2K 12/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-20222166401179713320132

  • 38587, 2,855, MRO, Cody 11-18H, Bailey, t--; cum 164K 12/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2022308852890579309069860440
BAKKEN11-20222810944108571142812191105361168
BAKKEN10-20223113541135431440818987162492210
BAKKEN9-20223018560185001796422982226340
BAKKEN8-2022312440024355234782521824561245
BAKKEN7-20223025743257782618421676212880
BAKKEN6-2022302735727390339971968718805482
BAKKEN5-202229346063440757029263592381915

Well of interest:

  • 17628, 180, MRO, Oneil 34-24H, Bailey, t5/09; cum 618K 12/22; note halo effect:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-202229398139984311369913261909
BAKKEN11-202230454445655759474829551233
BAKKEN10-20223153405214722659534884459
BAKKEN9-20223056956055823364485696104
BAKKEN8-202231656462981274571576149291
BAKKEN7-202231786078501834268415153871
BAKKEN6-202227694067482170557184744258
BAKKEN5-20220000000
BAKKEN4-2022002030000
BAKKEN3-202225321419951038
BAKKEN2-202226207920851576176901444
BAKKEN1-202231279726921877221101807
BAKKEN12-202131262526601909219401807

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