Thursday, March 14, 2024

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;

2 comments:

  1. Tomorrow Mar 15th is Your 47 th Yr Anniversary, Congratulations to May and You. From Don/kathy.

    ReplyDelete
    Replies
    1. Thank you so much. It's amazing how the years go by, seemingly so quickly. And for me, now, the weeks are flying by. Hope all is well with you. I'm as busy as ever. The blog is keeping me busier than usual and I'm more optimistic than ever. LOL.

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