The Market Has Moved On And So Have I -- June 12, 2023

 Locator: 44922B.

The market today:

Oil: I've waited two decades for oil to breakout and we're back where we began. And the trend is for more pain. I've moved on. At best, oil companies have become utilities. If you like utilities, you’ll love oil companies. And if you like utilities, you’ll love bonds. We talked about that out at the pool last night. And that’s where I’m headed now — out to the pool.

Tech: OMG. 

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Back to the Bakken

Active rigs: 38.

WTI: $67.23. Down a whopping 4.2%.

Four new permits, #39969 - #39972, inclusive:

• Operator: Crescent Point Energy
• Field:Winner (Williams)
• Comments:
• CPEUS has permits for ffour CPEUUSC Holmes wells, lot 2 section 5-158-100; 
• to be sited 350 FNL and between 1660 FEL and 1785 FEL

Six permits renewed:

• BR: Kirklandfill (3) and Morganfill (3), all SWSE 21-150-95; Pershing oil field, McKenzie

Five producing wells (DUCs) reported as completed:

• 38831, 4,688, MRO, Loralyn 14-33H, Bailey oil field; Dunn County; huge halo effect.
  
• 39189, 612, Ovintiv, Rolfsrud 152-96-32-29-4H, McKenzie County;
• 39190, 991, Ovintiv, Rolfsrud 152-96-32-29-15H, McKenzie County;
• 39191, 1,432, Ovintiv, Rolfsrud 152-96-32-29-5H, McKenzie County;
• 39192, 1,268, Ovintiv, Rolfsrud 152-96-32-29-16H, McKenzie County;