Five New Permits -- April 1, 2025

Locator: 48405B.

The dot chart, link here. 

Looks like a record high (demand) -- in the chart below --  just when it's being reported that American crude oil production has hit an 11-month low. Wow, that production metric: completely wrong on so many levels. We posted this yesterday with regard to US crude oil production. US crude oil production set a new all-time January record; twelfth consecutive month above 13.1 million bopd, field production. Link here.

Folks are concerned about shale oil production dropping / declining: let's see what WTI does if WTI were to hit $100. That solid dark green line in the graphic below? The year before Covid-19 lockdown, 2019. The month I'm watching: August. Will the US set a new all-time record?

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Back to the Bakken

WTI: $70.21.

Active rigs: 35.

Five new permits, #41759 - #41763, inclusive:

• Operators: KODA Resoures (4); Denbury Onshore;
• Fields: Fertile Valley (Divide County); a wildcat in Bowman County;
• Comments:
• Denbury Onshore has a permit for a CHSU well, SWSW 20-131-105, Bowman County, a wildcat, 
• to be sited 351 FSL and 1002 FWL:
• KODA Resources has permits for four Amber wells, Divide County, NENW 22-160-103; 
• to be sited 400 FNL and 2433 / 2538 FWL.

Changes:

• 39741, Grayson Mill, Darlene 13-24F 4H; spacing changed from four-section to two sections.

Three producing wells (DUCs) reported as completed:

• 40565, 1,322, Neptune Operating, Simpson 5-8 6H, McKenzie County;
• 40587, 1,378, Neptune Operating, Simpson LW 5-8 12H, McKenzie County;
• 40588, 1,191, Neptune Operating, Simpson 5-8 5H, McKenzie County;