UK fracking: it will be a huge dud. Rizone staff story. I agree completely. I've never seen two oil wells get so much attention. I think they've been talking about these two wells for five years. Not exaggerating. North Dakota, meanwhile, is drilling upwards of 120 wells per day; will complete about two to five wells per day.
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Back to the Bakken
One well coming off confidential list today --
- 33327, SI/NC, XTO, Dakota Federal 42X-36C, Bear Den, no production data,
| $74.70😊 | 10/9/2018 | 10/09/2017 | 10/09/2016 | 10/09/2015 | 10/09/2014 |
|---|---|---|---|---|---|
| Active Rigs | 64 | 57 | 33 | 68 | 192 |
RBN Energy: part 5 -- more plans for offshore crude oil export terminals along the Gulf coast.
Just as midstream companies are in a fierce competition to build new crude oil pipelines from the Permian to the Gulf Coast, there’s a race on to develop what would be the first Gulf Coast terminal in a generation capable of handling fully laden Very Large Crude Carriers. There’s a lot at stake.
Currently, 2-MMbbl VLCCs can be filled to the brim without reverse lightering only at the Louisiana Offshore Oil Port (LOOP), and even if U.S. crude production continues to rise at a fast clip, it’s unlikely that more than another one or two high-capacity, VLCC-ready terminals would be needed over the next five years. And, assuming there’s not an overbuild situation, the project or projects that ultimately advance would be expected to be in-demand and highly utilized — VLCCs are the preferred mode of transporting crude to Asia and other far-away markets, and being able to fully load VLCCs saves the considerable cost and time associated with reverse lightering these supertankers in deep water.
Today, we conclude our series on the fast-paced efforts to develop export terminals in waters deep enough to float VLCCs chock-full of oil.
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Global Warming
Three items.
- Flathead Lake, Montana: folks telling me it's a bit cooler than usual for this time of year and they're expecting more of the lake to freeze over this year than usual.
- Yellowstone National Park: some roads through the park were closed earlier than usual due to early snow this year.
- Manitoba: unseasonable cold delays western Manitoba harvest -- losses in the millions. Link here.
- Trump will expand ethanol program.
- ExxonMobil donates'$1 billion to carbon tax "program."
- Egypt to build its first nuclear project
- 4,800-MW project
- turbine and generator units alone will cost $700 million -- GE got the contract
- one turbine each year, 2023 to 2026
- contract was awarded by AAEM, a joint venture between GE and Russia-based Atomenergomash
- Egypt, with an expanding population of more than 95 million and vast energy needs, wants to diversify its energy sources. In addition to building a nuclear plant, the country has said it wants to boost capacity to generate solar and wind power. The North African nation, which currently relies on oil and natural gas for more than 90 percent of its power, targets producing 20 percent of its electricity from renewables by 2022
- Russia and Egypt signed an agreement in 2017 deal to build the El Dabaa plant. Russia’s government-run Rosatom Corp. is expected to build four reactors of 1,200 megawatts each and supply nuclear fuel throughout the plant’s operational life. Atomenergomash is a unit of Rosatom. El Dabaa will help generate enough electricity for 4 million homes
- the article did not mention total price for project
- compare with 3,200 MW nuclear plant to be built in UK for cost of $24 billion
- back in 2014, a new nuclear plant in the US to cost nuclear energy: $5,500 million / MW
- 4,800 MW *$5.5 million = 26400 million = $26 billion -- in ballpark of the UK plant
$20 billion / 100 million people = $200 / person.
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