What's it looking like for new wells being drilled this spring?

[Beth7]

I know this is a loaded question for sure. But just wondering what the real outlook is going into this year with new wells being drilled.

We are with Petro Harvester/Rockall, and do see that we are on the Confidential Oil List now, but no date. They had previously had dates of last fall to start the wells. Then said that they’ll look at this spring. Looks like Continental has a lot of drill dates on a lot of sections this spring.

I know there are so many variables with oil, gas, etc. Just curious if there are undertones out there that are saying more companies will come back and drill this spring.

I do live close to Williston, so I try to stay up todate, but again, curious if anyone in the industry has any input on what the outlook is this spring/summer.

Thanks! Stay warm everyone! Brrrrr

[M_Barnes]

There were seven new permits in Burke over the last 365 days. Four in 19-161N-93W and three in 15 161N-93W. Time will tell…

[Beth7]

Thanks… that’s what I figure. Time will tell. Hard to wait. I believe our permits are the ones in 19-161N-93W. Leaf Mountain. First lease with Petro Harvester/Rockall instead of Continental.

[r_w_kennedy]

As of right now, I couldn’t guess. The price of oil has gone up a great deal but my wells that were completed last year were considerably more expensive as well.

[John_Murray]

I would have thought that drilling was getting cheaper because not much drilling was happening.

[M_Barnes]

Inflation and supply chain problems have hit the oil patch as well. Cost of getting loans is also going up.

[Beth7]

So, another question… We see that on the web site:

dr021422.pdf

that Petro Harvester put in for new permits on our townships/wells on Feb 13th. (no wells have been drilled yet).

Is this a usual thing they need to do each year or does this look like drilling might be closer than it’s been? Thanks Beth

[M_Barnes]

It may indicate that they are getting closer to drilling. No guarantees. Time will tell.