Wells coming off the confidential list today -- Tuesday, December 3, 2019: 12 for the month; 217 for the quarter:
- 31653, 945, Oasis, McFarland Federal 5501 11-18 8BX, Missouri Ridge; has produced in excess of 100,000 bbls in first four months of production, 40 stages; 6.0 million lbs, sand/ceramic; t6/19; cum 104K 10/19;
RBN Energy: Is the market ready for 100-Bcf/d US natural gas production?
The once unthinkable level of 100 Bcf/d for U.S. natural gas production is just around the corner, it would seem.
Lower-48 gas production last week hit a new high of 96.4 Bcf/d, after surpassing 95 Bcf/d not too long ago (in late October). That’s remarkable considering that production was only 52 Bcf/d just 12 years ago.
Gas demand from domestic consumption and exports this year has set plenty of records of its own, but the incremental demand has not been nearly enough to keep the storage inventory from building a significant surplus compared with last year. CME/NYMEX Henry Hub prompt gas futures prices tumbled nearly 40 cents last week to $2.28/MMBtu, the lowest November-traded settle since 2015. Today, we break down the supply-demand fundamentals behind this year’s bearish storage and price reality.