WTI Drops Below $82 -- Oil Sector Spooked -- Huges Losses On Market -- April 30, 2024

Locator: 47113WTI.

A reminder: this is the last day of the month, for whatever that's worth.

"Stagflation" is back in the conversation. Steve Liesman says he doesn't see it. In very strong words, and very loudly, he says he doesn't see "stagflation." His response: he says there are still folks worried about the Fed precipitating a recession. 

Back to WTI: all the above and peace breaking out in the Mideast.

US equity markets: across the board fell 1.5% to 2%. It appears energy and tech took the greatest hits.

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Back to the Bakken

WTI: $81.93

Active rigs: 38.

Five new permits, #40704 - #40708, inclusive:

• Operators: Oasis (3); Phoenix Operating, MRO,
• Fields: Eightmile (Williams); Burg (Divide); Bailey (Dunn)
• Comments:
• Oasis has permits for three Lake Trenton wells, lot 2 section 31-153-102; 
• to be sited 1782 FNL and between 337 FWL and 436 FWL;
• Phoenix Operating has a permit for a Axel Ferrari well, SESW 24-160-99, 
• to be sited 330 FSL and 1426 FWL
• MRO has a permit for a Simmons wells, SESE 21-146-93, 
• to be sited 598 FSL and 622 FEL

Interesting:

• Phoenix Operating, with four Jean Ferrari wells plugged or producing, NENW 26-160-100; 

The maps:

Three producing wells (DUCs) reported as completed:

• 37924, n/d, BR, Boxer 2A TFH,
• 37932, n/d, BR, Parrish 3C TFH,
• 39752, 729, Slawson, Armada Federal 5-14-18TFH,