Locator: 50522B.
US crude oil inventories: continue to boom, despite global shortage fears.
- API today:
- non-SPR inventories rose 6.10 million bbls last week
- forecast: analysts had expected a 1.3-million-bbl draw
- EIA data here.
- SPR: the US continues to draw down the SPR
- stands at 409 million bbls
- maximum capacity: 725 million bbls.
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Back to the Bakken
CAPEX: no evidence operators are increasing CAPEX or rig count in the Bakken; will let their profits run.
WTI: $91.28. Holy mackerel, down from $105 at the beginning of the week. One year ago WTI was running $60 - $65 / bbl.
Active rigs: 20 -- a new recent low.
Three new permits, #42840 - #42842 --
- Operators: EOG, Iron Oil Operating, Enerplus
- Fields: Parshall (Mountrail County) (2); Tyrone (Williams County)
- Comments:
- three different operators, two with permits for wells in the Parshall oil field and one with a permit for a well in Tyrone oil field;
- 42840: EOG, Parshall 441, lot 3, section 2-152-90,
- to be sited 834 FNL and 1339 FWL;
- 42841: Iron Oil, Sickle 1, NENW 23-153-89,
- to be sited 251 FNL and 2302 FWL;
- 42842: Enerplus, Orcas State 5601, lot 2, section 4-156-101,
- to be sited 457 FNL and 2382 FEL;
