One New Permit; Three Permits Renewed; Two DUCs Reported As Completed -- May 3, 2024

Locator: 47047ECONOMY.

I lost the bubble on the US equity market this week, but the tickers that caught my eye: AAPL, QCOM, and AMGN. 

Biggest story? Exxon completes $60 billion acquisition of Pioneer.

The dumbest thing I heard all week on CNBC: a panelist on "Fast Money" recommended  Peloton and recommended staying away from AAPL.

The most fascinating company: TSLA. Has Musk abruptly changed his strategic focus? We may not know for quite some time. 

Most hypocrticial: "High oil prices force Biden administration to halt SPR refill plans. The Biden administration has canceled plans to refill the SPR due to rising oil prices, halting solicitations for oil deliveries to the reserve's sites along the Gulf Coast." LOL. Did anyone really think that with gasoline prices rising at the pump, the Biden administration would take more oil off the market during the last few months of the presidential campaign? LOL. Link here, but the headline says it all.

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Back to the Bakken

WTI: $78.11.

Active rigs: 38.

One new permit, #40717:

• Operator: Oasis
• Field: Eightmile (Williams)
• Comments:
• Oasis has a permit for another Aune Federal well, lot 3, section 30-153-102, 
• to be sited 2546 FNL and 439 FWL.

Three permits renewed:

• Foundation Energy: three Elkhorn Ranch Federal permits, Elkhorn Ranch, Billings County.

Two producing wells (DUCs) reported as completed:

• 33330, 2,093, XTO, Dakota Federal 42X-36XHE, McKenzie County;
• 33927, n/d, BR, Parrish 2C MBH, McKenzie County;