Tuesday, April 4, 2017

WTI Trends Higher -- Closes Slightly Above $51 -- April 4, 2017

Saudi goes mano a mano with the Bakken: Reuters oil analyst is tweeting that Saudi may be cutting overall oil production but Saudi is offering its customers MORE light crude oils while cutting heavy grades, a trend that could increase as the kingdom wants to maximize revenue and needs more heavy oil to power its own refineries. Or to to take on the Bakken mano a mano

WTI: trends higher; closes slightly above $51. Was this the reason?
COP has not specified the reduction in crude volume, but combined with the Syncrude outage, up to 490K bbl/day, or nearly 20%, of the oil sands' 2.5M bbl/day of supply is potentially off the market; also, Suncor Energy's 180K bbl/day Firebag thermal plant is undergoing planned maintenance this quarter, adding to the shortage of heavy crude.

Active rigs:

Active Rigs493094192186

Elidah field update: a reader provided a bit of background to a new pad in Elidah oil field.

One well released from confidential list:
  • 26281, SI/NC, HRC, Fort Berthold 148-94-36C-25-5H, McGregory Buttes, no production data,
Four new permits:
  • Operator: Whiting
  • Field: Sand Creek (McKenzie)
  • Comments: 
Operator transfer: 20+ wells from CLR to Southwestern Production Corp
  • all older wells
  • all in Billings County
  • includes nine (9) Tracy Mountain wells
No wells coming off confidential list Wednesday


Enterprise Products Partners to expand ethylene projects. Data points from Zacks:
  • EPD reusing a large, high-capacity ethylene storage well at its Mont Belview, TX, complex
  • on completion of this project (as earl as 3Q18), the 5.2 million-bbl facility will be able to inject/withdraw ethylene at the rate of 2,000 bbls per hour
  • expandable to 4,000 bbls per hour
  • there are seven third-party ethylene pipelines within two miles of the ethylene well; considerable connectivity capability
  • EPD will construct a new 24-mle, 12-inch diameter ethylene pipeline to connect Mont Belvieu ot Bayport, TX; will link sites south of the Houston Ship Channel to Mont Belvieu
  • much more at the link
The Apple Page

Huge news over at Apple.

Link here. More on this later. 

Many things mentioned. What caught me was Apple's decision to return to Apple-branded displays, something they gave up less than a year ago. I tried to "rationalize" the decision, and accept it, but deep down I thought Apple had made a huge, huge mistake. Apparently they realized they had. It kind of reminds me of the "New Coke" debacle.


  1. The only major city around the Elidah would be the metropolis of East Fairview, ND. Population 76 as of the 2010 census.

    1. Thank you. I had trouble "imagining" where the Elidah field was. Now I know. If it's still there, the best pizza in the USA: