No New Permits; Two DUCs Reported As Completed -- February 14, 2024

Locator: 46821B.

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Weekly EIA Petroleum Report

Weekly, link here.

• US crude oil in storage: 2% below 5-year average
• US crude oil inventories: increased by a whopping 12 million bbls
• imports: averaging 7% less than last year
• refiners: dropping even more -- now down to 80%
• distillates: 7% below five-year average
• diesel is going to be the big story this summer
  gasoline inventories a wash: total motor gasoline, down; finished gasoline up
• jet fuel supplied: up 1.5% y/y

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Back to the Bakken

WTI: $76.54.

Active rigs: 37.

No new permits.

Two producing wells (DUCs) reported as completed:

• 35215, 1,802, XTO, Teddy Federal 12X-5EXH,
• 40017, 2,746, Grayson Mill, Dale 20-17 2H, 

Well of interest:

• 21476, 3,241, Grayson Mill, Dale 20-17 1H, t4/12; cum 307K 10/23; off line;