North Dakota Down To 38 Active Rigs; Kraken With Five New Permits -- May 9, 2023

Locator: 44604B. 

Demographics:

• gen z: 1997 - 2015 (currently, ages 8 - 26)
• gen alpha: Sophia
• tracking here.
  

 

API: It will be interesting to see how this is explained -- analysts forecast a draw of 1.6 million bbls of crude oil; in fact, inventories increased by 3.618 million bbls. If US demand was relatively unchanged, then it was exports, and I am unaware of any reasons why exports would have been down, but we will see the EIA data tomorrow.

API weekly data: WTI up today -- 

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Back to the Bakken

Active rigs: 38.

WTI: $73.71.

Natural gas: $2.267.

Five new permits, #39884 - #39888, inclusive:

• Operator: Kraken
• Field: Green Lake (Williams); Burg (Williams)
• Comments:
• Kraken has permits for two Kisner wells, SESE 24-159-1000, 
• to be sited 407 FSL and 448 FEL; and, 407 FSL and 415 FEL; and,
• permits for three Deacon wells, SESE 24-159-100, 
• to be sited 407 FSL and between 316 FEL and 382 FEL.

Seven permits renewed:

• Formenter Operations, four LIG2 permits; one Grays state permit; one FLX permit; and, one PTL permit.