Five Wells Coming Off The Confidential List Today -- October 4, 2019

Just checking in: I didn't watch the game. How did it turn out last night? Wow, wow, wow -- an exciting game for the fans. Pete Carroll gets the win, 30 - 29. I assume my son-in-law is happy. 

Rigs don't matter:

US rig demand continues decline: link at Rigzone. Data points:

• lowest since February, 2018 -- like about two years ago
• from 1,054 in September, 2018, to 860 this month, September, 2019
• continued gains in productivity

West Virginia emerging as natural gas powerhouse. Previously posted. Link at Rigzone.

• That is, until Pocahontas bans fracking.
• "We're gonna put the oil workers out of work."

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Back to the Bakken

Five wells coming off the confidential list today -- Friday, October 4, 2019: 15 for the month; 15 for the quarter:

• 35649, SI/NC, WPX, Bird Bear 35-26HU, Spotted Horn, no production data,
• 35315, 2,077, CLR, Putnam 11-25HSL, East Fork, t7/19; cum 43K 8/19;
• 35314, 1,452, CLR, Putnam 10-25H1, East Fork, t6/19; cum 54K 8/19;
• 35313, 1,354, CLR, Putnam 9-25H, East Fork, t6/19; cum 52K 8/19;
• 31809, 2,581,, EOG, Riverview 21-3032H, Antelope-Sanish, t8/19; cum 29K over 14 days; extrapolates to 61K over 30 days;

Active rigs:

$52.57	10/4/2019	10/04/2018	10/04/2017	10/04/2016	10/04/2015
Active Rigs	58	64	59	32	68

RBN Energy: how shifting Permian crude fundamentals affect trucking, costs.

The Permian Basin’s crude oil market over the last 18 months has exhibited so many dynamic changes that dedicated observers may be suffering from a bit of neck strain, if not outright whiplash. We’ve seen production rise at an unprecedented rate, followed by a period of slower growth. We’ve also watched the Permian very quickly transform from a region desperate for new long-haul pipeline capacity to a hotbed for midstream investment and infrastructure growth. While we’ve closely tracked these big-picture changes, a lot of other, smaller-scale knock-on effects have been occurring too, with potentially significant implications for the basin’s supply pricing and transportation economics. Today, we explain why the changing fortunes of Permian crude haulers may benefit producers in the basin.