WTI Back Over $100; Surges $4; OPEC In Disarray; Germany Flipping Out -- April 28, 2026

Locator: 50649B.

See blog's disclaimer: link here. 

WTI: absolutely, positively, the only thing I'm interested in today with regard to the Mideast is whether WTI can hold above $100 at the close. Anything below $96 is a debacle on so many levels; and, I'm not even thinking about my portfolio.  

OPEC in disarray: UAE to leave OPEC "immediately"; to increase production; UAE sits at exit to Strait of Hormuz, opposite Iran.

News story, hardly: Trump won't consider Iran's latest proposal. DOA. 

Markets diverge:

• tech-heavy NASDAQ plunges: down 4% in pre-market; folks panic, MU up over 500% over past year; down 4% in pre-market;
• AAPL: hard to say; up slightly this morning after analyst raises price target;
• oil: up 2%
• so, overall portfolio could be a wash 
• overall: buying opportunity -- probably not -- with Micron up 500% in one year, down 4% today is hardly bullish; 

Trump: all indications he's in this -- Operation EPIC FURY -- for the long haul. Internal polling: majority of Americans want to see the job done. Curious how long Iran can hold out, losing $500 million / day. 

What's driving tech today: one word -- FEAR

• OpenAI: reports it missed internal targets; unlikely to be able to fund all contracts
• Strait of Hormuz: Iran's latest offer -- DOA
• Germany: flipping out! Says US-Europe rift is the fault of the US;
• US oil / natural gas exports: US says it won't "ban" but just that the subject is on the table must be scaring Europe. 

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Back to the Bakken 

WTI: $99.57 - drops back a bit after hitting $100.50.

New wells reporting:

• Wednesday, April 29, 2026: 100 for the month, 100 for the quarter, 257 for the year, 
• 42080, conf, XTO, GBU Hera 33X-7F, 
• 42079, conf, XTO, GBU Hera 33X-7A,
• 41734, conf, Hess, EN-Hilleren-157-94-1336H-2, 
• 41614, conf, BR, Sivertson 6I, 
• 41360, conf, Devon Energy, Marvin 27-34 3H, 
• Tuesday, April 28, 2026: 95 for the month, 95 for the quarter, 252 for the year, 
• 42081, conf, XTO, GBU Hera 33X-7B, 
• 41861, conf, Devon Energy, Finn 13-25F 3H, 

RBN Energy: rising southeast gas demand spurs pipeline projects, competition with LNG exports. Link here. Archived.

We’ve blogged about rising demand for natural gas in the southeastern U.S. and several of the pipeline projects being planned to deliver more gas to that fast-growing region. But there’s more to the story — a bigger picture — namely, that gas consumers in Florida and other states pulling gas east through Mississippi increasingly find themselves competing for supply with LNG exporters. In today’s RBN blog, we begin a two-part series on Southeast gas demand, new pipeline capacity to and through the region, and why the gas flowing there is priced higher than Henry Hub.

Ask your favorite chatbot which states are in the southeastern U.S. and you’ll get a long list — generally, everything within the huge triangle formed by the Virginias, Florida and Louisiana. The Southeastern Conference (SEC) of the NCAA includes Oklahoma, Missouri, Kentucky and two universities in Texas (one of which we like!). But for our purposes, we’re zeroing in on the southeasternmost swath: from west to east, Mississippi, Alabama, Florida, Georgia and South Carolina. While these five states account for only 0.4% (~ 400 MMcf/d) of total U.S. natural gas production, their share of U.S. gas consumption is 30X higher — about 12% or 11 Bcf/d — mostly due to their heavy (and growing) reliance on gas-fired power generation and (especially in Alabama, Georgia and Mississippi) a lot of industrial demand too.

Gas-demand growth in the region has been coming on fast and furious over the past few years, stressing the legacy gas pipeline networks there and resulting in the SONAT (Southern Natural), Florida Zone 3 and Transco Zone 4 price trading points — primary indicators of gas prices in our five-state focus area — being among the very few points where gas is priced at a premium to Henry Hub. [Figure 1 below shows April first-of-month (FOM) differentials — the green-shaded circles indicate trading points where the FOM differential is a premium to Henry.]

Figure 1. April FOM Natural Gas Basis. Source: NGI

NDIC Hearing Dockets, May 27 - 28, 2026 -- Posted April 28, 2026

Locator: 50648DOCKETS.

Hearing dockets are found here at the NDIC.

Wednesday, May 27, 2026
Link here.
18 pages.

The cases, again, these are cases, not permits: 

• 32821, Kraken, Little Muddy-Bakken, establish an overlapping standup 2560-acre unit; four wells; establish an overlapping standup 5120-acre unit; one wells; Williams County;
• 32822, Kraken, Little Muddy-Bakken, establish two overlapping laydown 1920-acre uits; four wells on each; establish an overlapping laydown 3840-acre unit; one well; Williams County;
• 32823, Kraken, Good Luck and/or Otter-Bakken, establish an overlapping standup 5120-acre unit; one well; Williams County; 
• 32824, Kraken, Hebron and/or Bull Butte-Bakke, establish an overlapping standup 2560-acre unit three wells; establish two overlapping standup 5120-acre units; one well; Williams County;
• 32825, Kraken, Squires-Bakken, establish an overlapping standup 2560-acre unit; three wells; establish an overlapping standup 5120-acre unit; one well; Williams County; 
• 32826, Hess, Ray-Bakken, establish an overlapping standup 3840-acre unit; one well; Williams County;
• 32827, Hess, White Earth, Pleasant Valley and/or Big Butte-Bakken; establish an overlapping standup 2560-acre unit; two wells; establish an overlapping standup 5120-acre unit; one well; Mountrail County;
• 32828, Devon Energy, Lake Trenton and/or Sixmile-Bakken, establish an overlapping standup 2560-acre unit; four wells; Williams County
• 32829, Devon, Squires-Bakken, establish an overlapping standup 2560-acre unit; three well;s establish an overlapping standup 5120-acre unit; one well; Williams County;
• 32830, Oasis, Squires-Bakken, establish an overlapping 2560-acre unit; three wells; Williams County; 
• 32831, Oasis, Bull Butte-Bakken, establish two overlapping laydown 2560-acre units; four wells; establish an overlapping standup 2560-acre unit; four wells; establish an overlapping standup 2560-acre unit; three wells; Williams County;
• 32832, Oasis, Gros Ventre-Bakken, establish an overlapping standup 2560-acre unit; three wells; Burke County;
• 32833, Oasis, Black Slough and/or Foothills-Bakken, establish an overlapping standup 1920-acre unit; three wells; establish two overlapping laydown 1920-acre units; three wells; establish two overlapping standup 2560-acre units; three wells; Burke County;
• 32834, Oasis, Cottonwood-Bakke, establish two overlapping stanup 1920-acre units; two wells Burke County;
• 32835, Oais, Cottonwood-Bakken, establish an overlaping 1280-acre unit; two wells; establish an overlaping standup 1920-acre unit; three wells; Mountrail County;
• 32836, Oasis, Cottonwood-Bakken, establish two overlapping 1920-acre units; three well;s establish an overlapping standup 1920-acre unit; three wells; Burke County;
• 32837, Whiting, Foreman Butte-Bakken, establish an overlaping standup 5120-acre unit; one well; McKenzie County;
• 32838, Whiting, Assiniboine, Dore, Harding, Cartwright and/or Nelson Bridge-Bakken, establish an overlapping laydown 1920-acre unit; three wells; establish two overlappig laydown 3840-acre unit;s one well; McKenzie County;
• 32839, Enerplus, Murphy Cree-Bakke, establish two overlapping standup 2560-acre units; four wells; Dunn County;
• 32840, Enerplus, Murphy Creek-Bakken, establish two overlaping laydown 2560-acre unit; four wells each; Dunn County;
• 32841, Enerplus, Murphy Creek-Bakken, establish an overlapping standup 2560-acre units; three wells; Dunn County;
• 32842, Enerplus, Otter-Bakken, establish four overlapping standup 1920-acre units; three wells each, Williams County; 
• 32843, Enerplus, Strandahl-Bakken, establish an overlapping standup 2560-acre unit; four wells; Williams County;
• 32844, White Rock, Grassy Butte-Bakken, establish a standup 2560-acre unit; four wells; McKenzie County;
• 32845, White Rock, Bennett Creek and/or West Butte-Bakken, establish a standup 2560-acre unit; four wells; McKenzie County;
• 32846, White Rock, Beicegel Creek-Bakken, establish two standup 2560-acre units; four wells; McKenzie County;
• 32847, Petro-Hunt, West Ambrose-Bakken, establish six standup 2560-acre units; two wells each; Divide County;
• 32848, Petro-Hut, Ambrose-Bakken, establish two overlapping standup 2560-acre units; two wells each; Divide County;
• 32849, Petro-Hunt, Little Knife-Bakken, establish twelve overlappoing standup 1920-acre units; three wells each; Billings County;
• 32850, Petro-Hunt, Little Knife and/or Crooked Creek-Bakken, establich six overlapping 3840-acre units; one well each, Billings and Dunn counties;
• 32851, Heberdev Operating, Cottonwood-Bakken establish one laydown 1920-acre unit, eight wells; Burke County;
• 32852, Heberdev Operating, Northeast Footbills-Bakken, terminate six standup 1280-acre units; establish five standup 1920-acre units; eight wells on each; Burke County;
• 32853, Kraken, commingling
• 32854, Hess, pooling
• 32855, Hess, pooling
• 32856, Hess, commingling
• 32857, Hess, commingling;
• 32858, Hess, commingling;
• 32859, Oasis, commingling;
• 32860, Oasis, commingling;
• 32861, Whiting, commingling;
• 32862, Enerplus commigling;
• 32863, Prima Exploration, pooling;
• 32864, Rough Rider Bakken Water, SWD
• 32865, White Rock Oil & Gas, SWD 

Thursday, May 28, 2026
Link here.
18 pages.

The cases, again, these are cases, not permits:

• 32866, Ballard Petroleum, Chatfield-Madison Unit, the Borstad 12-30-B, to be drilled as an EOR wells; injection of fluids, Bottineau County;
• 32867, CLR, creating a 320-acre uinit, E/2 of section 31-162-95, recompletion of Shadowcat 1-31H, #41137, Divide County;
• 32868, CLR, Juno-Bakken, establish three overlapping 1920-acre units; five wells on each; Divide County;
• 32869, CLR, Juno-Bakken, establish four overlapping 2560-acre units; five wells on each; Divide County; 
• 32870, Hunt Oil, Frazier-Bakken, establish an overlapping 1920-acre unit; four wells on each; Divide County;
• 32871, Hunt Oil, Bluffton-Bakken and/or Frazier-Bakken, establish two overlapping 1920-acre units; four wells; establish three overlapping 3840-acre units; one well; Divide County;
• 32872, Formentera Operations, Frazier-Bakken, establish two overlapping 3840-acre units; one well on each; Divide County;
• 32873, Phoenix Operatig, Stanley-Bakken, establish a standup 1920-acre unit; four wells; Mountrail County;
• 32874, EOG, Stanley-Bakken and/or Parshall-Bakken, establish an overlapping 3840-acre unit; one well;s Mountrail County;
• 32875, Phoenix Operating, Blacktail-Bakken; establish a standup 2560-acre unit; four wells; Billings County;
• 32876, Phoenix Operating, Blacktail-Bakken estalbihs a standup 2560-acre unit; four wells; Billings County; 
• 32877, Phoenix Operating, Saxon and/or Murphy Creek-Bakken, establish a standup 2560-acre unit; four wells; Dunn County;
• 32878, Phoenix Operating, Murphy Creek-Bakken, establish a standup 2560-acre unit; four wells; Dunn County;
• 32879, Phoenix Operating, Murphy Creek-Bakken, establish an overlapping a standup 2560-acre unit; four wells; Dunn County;
• 32880, Phoenix Operating, Wildrose-Bakken, establish an overlapping 2560-acre unit; one well; Divide County;
• 32881, Phoenix Operating, Strandahl and/or Bull Butte-Bakken, establish an overlapping 3840-acre unit; one well; Williams County;
• 32882, EOG, pooling
• 32883, Hunt Oil, pooling
• 32884, Hunt, pooling;
• 32885, Hunt, pooling; 
• 32886, Hunt, pooling; 
• 32887, Hunt, pooling; 
• 32888, Hunt, pooling; 
• 32889, Hunt, commingling; 
• 32890, Hunt, commingling; 
• 32891, Hunt, commingling; 
• 32892, Murfin Drilling; pooling;
• 32893, Murfin Drilling; pooling;
• 32894, CLR, pooling;
• 32895, CLR, pooling;
• 32896, CLR, pooling;
• 32897, CLR, pooling;
• 32898, CLR, pooling;
• 32899, CLR, pooling;
• 32900, CLR, pooling;
• 32901, CLR, pooling;
• 32902, Formentera Operations;pooling; 
• 32903, Formentera Operations;pooling; 
• 32904, Phoenix Operating, SWD
• 32905, Phoenix Operating, SWD;
• 32906, Phoenix Operating, SWD;
• 32907, Phoenix Operating, SWD;
• 32908, KODA Resources, SWD;
• 32909, KODA Resources, SWD;
• 32910, KODA Resources, SWD;
• 32911, Iron Oil, SWD; 
• 32912, Ballard Petroleum, Borstad 12-30-B, SWNW, section 30-159-81, EOR, injection, Bottineau County;