Busy, Busy, Busy -- June 1, 2023

Locator: 44815B.

Happy Pride Month. 

Diesel prices: even my wife was amazed how low diesel prices are here in north Texas -- almost at parity with gasoline.

In our neighborhood, gasoline is now below $3.00 / gallon again. Will Biden get any credit for gasoline prices dropping just before driving season gets into full swing?

All things being equal low price of crude oil and gasoline should constrain inflation, something "everyone" seems to want.

Market today:

No default! Wow, that was well played. There will be no default. The only question is whether wwe get a "90-day billl" oor a "two-year bill"?

If I were a US Senator, not up for re-election in 2024, I would want a "90-day bill." Two-thirds of US senators are not up for re-election in 2024.

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

Active rigs: 36.

WTI: $70.18.

Natural gas: $2.162.

Six new permits, #39931 - #39936, inclusive:

• Operator: Hess
• Field: Alger (Mountrail)
• Comments:
• Hess has permits for three RS-Juma wells and three RS-Feldman wellls, NENW, section 14-156-92; 
• to be sited 397 FNL and between 1461 FWL and 1626 FWL. 

Two permits renewed

• 34984, Liberty Resources, Sundhagen,
• 37593, Hess, AN-Lone Tree;