WTI Finally Settles Above $70; No New Permits Except One For Recompletion; Five DUCs Reported As Completed -- June 15, 2023

Locator: 44946B.

EU central bank: rates raised to 22-year high. Oh-oh. 

China: cutting rates. See below.

US: whatever.

We live in interesting times.

Most concerning data point: China's youth -- age 16 - 24 at 20% unemployment.

• China sees itself as not recovering from economic downturn.
  
• no evidence China will pull out of this economic downturn any time soon;
  
• Peter Zeihan needs to remind "us" how dangerous unemployed youth are.
• Taiwan needs to be very worried.
• Warren Buffett probably put 1+1 together and got four.

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

Active rigs: 37.

WTI: $70.62.

Five producing wells (DUCs) reported as completed:

• 38829, 3,680, MRO, Prudence 44-32H, Bailey (of course),
• 38830, 3,912, MRO, Nyle 14-33TFH, Bailey,
• 38832, 2,700, MRO,  Remsing 14-33TFH, Bailey,
• 39080, 1,661, Hess, RS-State D-155-92-0203H-9,
• 38203, n/d, CLR, LCU Foster Federal 2-28H,

Of interest:

• 18681, huge jump in production; previously reported;
  
• 17792, unremarkable, but remains off line;
  
• 20929, very nice well, but remains off line;
  
• 21469, nice well, but otherwise unremarkable;
  

No new permits except one permit for a recompletion:

• 15101, 200, Scout Energy, South Fryburg 23-30, Madison formation, Fryburg, t6/01; cum 158K 4/23; I can't read these permits well, but it looks like there might be a short lateral; most recent data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
MADISON	4-2023	10	73	213	859	1	0	1
MADISON	3-2023	6	73	0	433	5	0	5
MADISON	2-2023	28	409	427	2465	14	0	14
MADISON	1-2023	31	344	427	2758	19	0	19
MADISON	12-2022	24	282	207	2113	6	0	6
MADISON	11-2022	30	480	422	2800	14	0	14
MADISON	10-2022	29	355	422	2738	14	0	14
MADISON	9-2022	28	351	426	2568	21	0	21
MADISON	8-2022	31	275	210	2876	9	0	9
MADISON	7-2022	26	80	0	2121	16	0	16
MADISON	6-2022	22	336	422	1827	10	0	10
MADISON	5-2022	31	507	425	2939	24	0	24
MADISON	4-2022	29	442	631	2712	20	0	20
MADISON	3-2022	31	538	415	2960	56	0	56
MADISON	2-2022	26	397	423	2445	26	0	26
MADISON	1-2022	31	513	422	2903	48	0	48