Wednesday, March 22, 2017

Starting The Day At 50 Active Rigs -- March 22, 2017

Active rigs:

Active Rigs5032107198187

RBN Energy: SCCOP/STACK gas takeaway needs and the Midship announcement.

Shale revolution. Oil giants "upending" shale turf where wildcat drillers once ruled -- Bloomberg. From the article: (with snarky comments)
  • drilling 10,000 feet down (imagine that)
  • then drilling horizontally for a mile (imagine that; in the Bakken, 2-mile laterals for the past decade with a few 3-mile laterals)
  • blasting through rock to capture light crude oil (imagine that, blasting through rock)
  • they've turned shale drilling from art into science (imagine that; ND with the world's largest microseismic array)
  • shale wells for as little as $5 million each (that's a bit of a stretch)
  • Shell says they can make money in the Permian with oil at $40/bbl; new wells are profitable at $20/bbl (awesome)
Russian LNG. Rosneft signs deal to supply ten (10) LNG cargoes to Egypt in 2017  -- Reuters. Rosneft must have read the blog. At the link: Egypt: imported more LNG than India in 2015; second only to China in LNG imports. Also:
  • Jordan: a new entrant -- imported as much LNG as France in 2015 
  • Pakistan: a new entrant -- imported twice as much LNG as France in 2015  
  • Egypt: a new entrant -- imported more LNG than India in 2015

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