Locator: 51842B.
Has memory become the new oil? IYKYK. I don't know. Micron:
Say what? Link here. If it's Charles Kennedy, it has to be important.
The latest survey shows both oil and gas production increased again in the third quarter across Texas, southern New Mexico and northern Louisiana, meaning producers have now reported rising output for two consecutive quarters. The region includes the Permian Basin, the country’s largest oil-producing basin, as well as the Eagle Ford and Haynesville.
The spending outlook was much weaker beyond the current increase. The index measuring expected capital expenditures for the following year was zero in the second quarter, even as current spending climbed.
U.S. inventories are adding another complication, with commercial crude stocks increasing by 900,000 barrels last week to 427.3 million barrels, according to EIA data released Wednesday. Distillate inventories moved in the opposite direction, falling 2.3 million barrels and leaving stocks 14% below their five-year average for this time of year.
Strait of Hormuz: according to Rigzone, "Middle East oil flows are nearing pre-war levels as shipments through Hormuz and alternative routes rebound."
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More From The Bakken
WTI: $90.41.
Active rigs: 33.
Five new permits, #43354 - #43358, inclusive --
- Operator: Phoenix Operating
- Field: Alkabo oil field, Divide County;
- Comments:
- Phoenix Operating has permits for four Top Gun wells and one Rooster well, NWNE 31-162-102,
- to be sited 564 FNL and 1897 / 2017 FEL.
Approved for re-entry:
- 41258, Marlo Operating, Tosco Branch 2, NENE 19-129-103, Bowman County.
Re-entry permit canceled:
- 41700, Marlo Operating, Tosco Branch 4, NENE 19-129-103, Bowman County.
Five permits renewed:
- KODA Resources: three Bock and two Kolsh permis, all in Divide County.
