GDP Now And Back To The Bakken -- March 14, 2024

Locator: 46762B.

GDP Now, link here, as of March 14, 2024: 2.3. Down from 2.5 on March 7, 2024.

Goldilocks, not a gilded age, except for some. 

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Back to the Bakken

WTI: $81.26. 

• There was a tepid response for publicly traded oil companies -- probably because we've seen this before; if WTI tends to trend higher and if that lasts into the summer, and if there is no recession, equities in oil companies should do very well. But, wow, that's a lot of "if's." I counted three.
  
• PSX hit a 52-week high today as did MPC and Valero.
  
• with oil about to surge (?), I never would have expected that
  

Active rigs: 39.

Five new permits, #40584 - #40588, inclusive:

• Operators: SOGC (Sinclair)(3); Neptune Operating (2)
• Fields: Mary (Dunn County); Elk (McKenzie)
• Comments:
• SOGC has permits for three wells in NESW 31-147-97: 
• Bighorn, to be sited 2278 FSL and 1759 FWL; 
• the two Harris wells will be sited at 2273 FSL and 1799 FWL; and, at 2267 FSL andd 1838 FWL:
• Neptune Operating has permits for two Simpson wells, SESW 32-152-102; 
• both will be sited 466 FSL with one 1336 FWL and the other 1369 FWL;

Six permits canceled:

• Oasis: five Pederson permits in McKenzie County, and one MHA permit in Dunn County;