It's been a week of meager daily activity reports coming out of the Bakken: very few new permits; almost no reports of any DUCs being completed; most new wells going to DUC status. Meanwhile, WTI reversed direction, began trending down, and came close to trading under $48, finally settling at just over $49 for the week. Saudi Arabia is "talking their book" in preparation for its IPO arguing that the demand for oil will grow for decades. Whatever.
Top story of the month?
First shipment of Bakken oil heads for Asia
Operations
Operator considers expanding capacity on natural gas pipeline out of Tioga/Prairie Rose
Tracing recent history of active rigs in North Dakota
Random update of a CLR Antelope well in Elm Tree oil field
Random update of an incredible SHD well in Deep Water Creek Bay
Random update of CLR's Anna wells
Report of seven producing wells (DUCs) completed
Filloon's update of Whiting in the Bakken
Bakken economy
Managers for new Williston airport selected
Watford City latest to join craft brewery business
North Dakota wheat being loaded unto Incheon Bay
Bank of North Dakota, human interest
Friday, April 28, 2017
Eleven New Permits; No Completed DUCs; Pretty Meager -- April 28, 2017
Active rigs:
Three new permits:
| 4/28/2017 | 04/28/2016 | 04/28/2015 | 04/28/2014 | 04/28/2013 | |
|---|---|---|---|---|---|
| Active Rigs | 49 | 29 | 86 | 185 | 187 |
Three new permits:
- Operators: Triangle (2), Hess
- Fields: Squires (Williams); Ellsworth (McKenzie)
- Comments:
- Whiting (4): three Two Shields permits in Dunn County; one Kessel permit in Stark County
- HRC (3): three Fort Berthold permits in Dunn County
- WPX (2): two Grizzly permits in McKenzie County
- Oasis: one Spratley permit in Mountrail County
- Fram Operating: one Danny Funke permit in Renville County
Saudi Cutting Production? What A Bunch Of Crap -- April 28, 2017
Updates
May 29, 2017: see update here. Peak Saudi exports in April, 2017.
Original Post
The most recent numbers have just been posted for Saudi Arabia US crude oil imports:
Look at the amount imported in February, 2017: 1.338 million bbls. That is the second highest amount since April, 2014. The only higher amount was last month by 6,000 bbls.
Most recent February: imports exceeded the average for February for the past 17 years: 1.282 million bbls.
Since production cuts were announced in Oct/Nov, 2016, Saudi Arabian crude oil has increased 33%, from 1,000,000 bbls in November to 1,338,000 bbls in February, 2017.
If you look across the chart in general, the amount imported in February, 2017, was at the high end of all the monthly import data .
And then folks wonder why WTI is trending below $50.
Managers For New Williston Airport Selected -- April 28, 2017
Link here.
Apple component manufacturer Foxconn and Apple say the manufacturer will be making a multibillion dollar investment in the US, as much as $7 billion. Great PR move. The manufacturer must like the lifestyle and cheap, dependable electricity. Tim Cook must have gotten tired of all that trans-Pacific flying.
City commissioners unanimously approved a recommendation by City Administrator David Tuan to work with Fargo-based Ulteig and AE2S, which is headquartered in Grand Forks, during the board’s regular meeting this week.
The two companies, both of which have offices in Williston, submitted a joint proposal outlining a plan to take on the role of project manager, which will include oversight and cooperation with engineers, tribal representatives, contractors and utility companies, among others, Tuan said.
A committee that included Tuan, newly-appointed airport director Anthony Dudas and other city officials received four proposals from companies around the country, including one from KLJ Engineering, which had previously been serving as project manager.
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The Apple Page
Apple component manufacturer Foxconn and Apple say the manufacturer will be making a multibillion dollar investment in the US, as much as $7 billion. Great PR move. The manufacturer must like the lifestyle and cheap, dependable electricity. Tim Cook must have gotten tired of all that trans-Pacific flying.
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