Saturday, April 22, 2017

Week 16: April 16, 2017 -- April 22, 2017

Things started "looking up" for the Bakken a couple of weeks ago but the week ends with the number "49" for two metrics:
Energy wrap-up for the week at this page. But there's a lot of conflicting data out there.

The world is drowning in oil: Reuters data shows that the volume of crude oil plying the world’s oceans hit a record high 47.8 million barrels per day in April, a 5.8 percent jump compared to December levels. That is a worrying sign given that December was the month before OPEC began reducing, so if global crude oil shipments are above even those elevated levels, then supply is probably higher right now than many believe.

Other news:
US petroleum demand back to record highs

Operations
A recovery rate of 25%?
Oasis re-frack looks successful 

Fracking
Soaring sand costs
Random look at CLR's completion solutions

CBR
East coast refiners curtail CBR from the Bakken 

Bakken 101
ND legislature clarifies minerals under Lake Sakakawea

2 comments:

  1. 60+ rigs in Bakken by May if oil is going over $60? Not happening.

    ReplyDelete
    Replies
    1. I agree with you. I don't see WTI hitting $60 by end of May. Predicting the price of oil is a fool's errand but it's hard not to opine about trends.

      Delete