No New Permits; MRO Reports Four Completed DUCs -- May 31, 2023

Locator: 44806B.  

Synthetic natural gas plant:

• another Biden-win / Inflation Reduction Act, link here;
• TotalEnergies: one of Europe's biggest oil and gas firms
• a blow to the European Union's ambitions to lead in green energy technologies;
• of course, the MAGA Republicans will give Biden no credit for the IRA
• the synthetic natural gas would be made from "renewable" hydrogen and CO2; it gets tedious;
  
• preliminary only; $2 billion project;
• 100,000 to 200,000 metric tons of e-NG / year
• also reported in The [London] Telegraph;
• if the site for the project was announced, I missed it

Weekly EIA petroleum data will be reported tomorrow: one day "late," due to Memorial Day observance on Monday.

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Back to the Bakken

Active rigs: 35.

WTI: $68.09.

Natural gas: $2.266.

No new permits.

Four producing wells (DUCs) reported as completed:

• 38793, 1,213, MRO, Rowe 14-21H, Dunn County,
• 38794, 2,803, MRO, Erling 24-21TFH, Dunn County,
• 38795, 4,976, MRO, Ravin 24-21H, Dunn County,
• 38796, 3,416, MRO, Valborg 34-21TFH, Dunn County,