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Title : The Bakken Is Looking Pretty Good -- August 3, 2018
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The Bakken Is Looking Pretty Good -- August 3, 2018

We talked about this .... maybe six months ago? The Bakken is looking pretty good. Now it's EOG "pulling back" from the Permian.

From Investor's Business Daily:

EOG Resources and Noble Energy said Friday they will shift well completions from the Permian Basin to their other oil assets, as the lack of sufficient pipeline capacity from the prolific shale play weighs on results.

EOG said completions at its Delaware operations in the Permian will fall to 30% of total work in the second half of the year from 40% in the first half.

EOG's completions in Wyoming's Powder River Basin, North Dakota's Bakken, and Colorado's DJ basin will account for 20% of work vs. 10% in the first half of the year.

Noble Energy said it would reduce Permian completions during the second half of the year and instead focus on the DJ basin.

Marathon Oil said realized prices for crude in the Northern Delaware part of the Permian fell to $60.01 per barrel from $60.45 in Q1, but rose in the Eagle Ford in South Texas and Bakken formation in North Dakota. But EOG's management on Friday tried to downplay the pipeline issues in the Permian, saying it was still getting crude to Cushing, Okla., and pointing out that it has assets in 11 plays in six basins. In Q2, average realized crude oil and condensate prices rose to $67.91 a barrel in the U.S., from $64.24 a barrel in Q1.

The Bakken is looking pretty good. Oh, I already said that.

Oasis recently said that the Bakken remains its focus. What don't you want?

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