"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.

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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;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	2	1664	0	11797	1332	0	132

• 38587, 2,855, MRO, Cody 11-18H, Bailey, t--; cum 164K 12/22;
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	30	8852	8905	7930	9069	8604	40
BAKKEN	11-2022	28	10944	10857	11428	12191	10536	1168
BAKKEN	10-2022	31	13541	13543	14408	18987	16249	2210
BAKKEN	9-2022	30	18560	18500	17964	22982	22634	0
BAKKEN	8-2022	31	24400	24355	23478	25218	24561	245
BAKKEN	7-2022	30	25743	25778	26184	21676	21288	0
BAKKEN	6-2022	30	27357	27390	33997	19687	18805	482
BAKKEN	5-2022	29	34606	34407	57029	26359	23819	15

Well of interest:

• 17628, 180, MRO, Oneil 34-24H, Bailey, t5/09; cum 618K 12/22; note halo effect:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	12-2022	29	3981	3998	4311	3699	1326	1909
BAKKEN	11-2022	30	4544	4565	5759	4748	2955	1233
BAKKEN	10-2022	31	5340	5214	7226	5953	4884	459
BAKKEN	9-2022	30	5695	6055	8233	6448	5696	104
BAKKEN	8-2022	31	6564	6298	12745	7157	6149	291
BAKKEN	7-2022	31	7860	7850	18342	6841	5153	871
BAKKEN	6-2022	27	6940	6748	21705	5718	4744	258
BAKKEN	5-2022	0	0	0	0	0	0	0
BAKKEN	4-2022	0	0	203	0	0	0	0
BAKKEN	3-2022	2	53	214	199	51	0	38
BAKKEN	2-2022	26	2079	2085	1576	1769	0	1444
BAKKEN	1-2022	31	2797	2692	1877	2211	0	1807
BAKKEN	12-2021	31	2625	2660	1909	2194	0	1807