Tuesday, August 29, 2023

No New Permits; Three Permits Renewed; Huge WTI Draw Today Lifting WTI Over $81 -- August 29, 2023

Locator: 45498B.

Active rigs: 34.

WTI: $81.16. Jumped a dollar / bbl late today. "Surprise": huge draw. Refiners pulled as much oil as they had room for in their own storage tanks anticipating off-shore rigs in the gulf shutting down due to huge hurricane. 

Just think: this won't be a problem when the US is 100% wind / solar, and no longer needs oil. Those windmills / turbines in the gulf will turn faster than ever during hurricanes providing endless amounts of electricity for the entire country.

No new permits.

Three permits renewed:

  • Neptune Operating: three Gustafson permits, Buffalo Wallow, McKenzie County.

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