Three New Permits And One DUC Reported As Completed -- November 20, 2023

Locator: 46119B. 

I'm going to make a couple of observations which also lead to a number of other comments which I won't make but would connect a lot of dots if I so wished.

Sophia has this week off from school. Normally she would be in camp but all all openings were taken -- so Sophia will be with family or friends all week. Of course she's thrilled. She was with her dad this morning but with me all afternoon. 

We went window shopping and a little Christmas shopping. We must have visited a dozen stores. The first thing I noticed: how "full" the stores were with inventory. It is amazing. Shipping boxes from China were all over the aisles and employees were stocking shelves.

This is so different from two and three years ago when inventory was a huge problem. Much of the problems were due to Covid -- a lot of folks still don't understand the connection -- and if you recall, the huge backlog of container ships from China off the coast of southern California. It was a mess.

But this year, everything is opening up. 

I haven't read or heard any story of inventory shortages -- even the car dealers look in a lot better shape this year than last year. A year ago I lost interest in visiting car dealers because inventory was so limited and there were so few opportunities to deal. Not true this year. With the sales lots looking full, it's now more rewarding to visit car dealers. 

That trickles down to explanations for increased credit card debt. Credit card debt? Sure, I understand the problem and the concern, but the cup being half-full tells me that credit card debt means a lot of folks are out shopping and finding deals and finding stuff that was missing the past two years. 

The analysts suggest otherwise, but the tea leaves suggest the US consumer is ready to spend a lot of money this Christmas. Including Sophia. 

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Back to the Bakken

Active rigs: 37.

WTI: $77.60.

Three new permits, #40347 - #40349, inclusive:

• Operators: Stephens Williston DBA SEG Williston; Neset Consuling
• Fields: Stanley (Mountrail); wildcat (McLean)
• Comments:
• Neset has a permit for a wildcat, NWSW 7-145-83, 
• to be sited 1701 FSL and 399 FWL;
• SEG Williston has permits for two Greenbrier wells, SESW 11-155-91, 
• with both to be sited 330 FSL and one to be sited 1833 FFWL and the other 1866 FWL

One producing well (a DUC) was reported as completed:

• 39374, 3,627, MRO, Peggy 24-20H, Bailey, production, 19,495 over six days extrapolates to a whopping 97,475 bbls of crude oil over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2023	29	27834	27886	31412	29710	29234	396
BAKKEN	8-2023	31	41826	41801	43106	37301	36990	187
BAKKEN	7-2023	6	19495	19380	22298	14600	14402	136

Well of interest:

• 23980, 576, MRO, Klay Carlson 41-29TFH, Bailey, t6/13; cum 220K 5/23; off line;

• 17417, 376, MRO, Olson 14-20H, Bailey, t12/08; cum 443K 9/12, note recent jump in production; 13,613 bbls over 17 days extrapolates to 24K over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2023	30	12831	12824	57126	13548	13330	181
BAKKEN	8-2023	28	10036	10082	46841	10320	10233	52
BAKKEN	7-2023	17	13613	13533	83099	13503	13317	128
BAKKEN	6-2023	0	0	0	0	0	0	0
BAKKEN	5-2023	0	0	0	0	0	0	0
BAKKEN	4-2023	0	0	0	0	0	0	0
BAKKEN	3-2023	31	1336	1396	670	2696	2286	112
BAKKEN	2-2023	28	1244	1236	573	2406	1943	187
BAKKEN	1-2023	31	1181	1099	567	2334	1754	301
BAKKEN	12-2022	27	961	985	439	1910	1595	96