Saudi: if this is accurate, this is staggering, barely over 9 million bopd? The US is moving toward 12 million bopd, I assume.
India: how huge is India's energy demand? This huge: despite sanctions, India will resume oil imports from Venezuela. Tells me all I need to know about the oil market.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.
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Back to the Bakken
Three wells coming off the confidential list today -- Thursday, October 10, 2019: 30 for the month; 30 for the quarter:
- 35109, conf, CLR, Morris 7-26H2,
- 34890, conf, Bruin E&P, Fort Berthold 148-94-35D-26-14H,
- 34435, conf, Enerplus, Scrooge 148-93-20B_29H-TF,
$52.70 | 10/10/2019 | 10/10/2018 | 10/10/2017 | 10/10/2016 | 10/10/2015 |
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Active Rigs | 56 | 67 | 57 | 32 | 68 |
RBN Energy: Easton Energy's storage and pipe projects, part 3.
New fractionation plants, steam crackers and export facilities are being built along the Gulf Coast, all spurred by rising U.S. production of natural gas liquids. This incremental NGL output and these new projects are putting serious pressure on existing NGL pipeline and storage infrastructure, and prodding the development of new salt-cavern storage capacity for mixed NGLs, NGL purity products, and ethylene and other olefins.
Also, new, expanded and repurposed pipelines to enhance NGL-related flows throughout the region are in the works.
Today, we continue our series on NGL storage facilities along the Gulf Coast with a look at Easton Energy Services’ plans for more underground storage capacity in Markham, TX, and new NGL and olefin pipelines.
NGL storage capacity and the ability to quickly move mixed NGLs (also known as y-grade), purity products (ethane, propane, normal butane, isobutane and natural gasoline) and olefins like ethylene and propylene to where they need to be are critically important to those whose assets rely on a steady stream of these commodities for operations, production, transport, fractionation and export.
The most economical and practical way to transport and store these commodities is in their liquid state, which necessitates that the transport and storage occur under high pressure. And the most cost-effective way to provide large volumes of storage capacity at high pressure is to develop underground storage caverns within salt dome formations.
There is currently about 260 MMbbl of NGL-related storage capacity in place at the NGL hub in Mont Belvieu, TX, and more than 100 MMbbl at salt cavern facilities elsewhere along the Texas coast.So much at the RBN Energy site. Again, it's a must read. Making America great. Some data points on this storage:
- Phillips 66: will add 6 million bbls of capacity at its 9-million-bbl Clemens Caverns facility near Brazoria, TX
- Cliche Development Partners' Coastal Caverns, Beaumont, TX: has already added a 5-million-bbl cavern for storing ethylene and is in the process of adding another 8-million-bbl storage site.
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