WTI: jumps 2% in pre-market trading; up $1.35; trading above $65.40; Trump says "no."
Over at twitter, "did Saudi Arabia over-comply by almost 500,000 bopd with its production quote in anticipation of zero Iran sanction waiver renewals? I am unable to follow the argument here.
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Wells coming off the confidential list over the long weekend, Monday -- Monday, April 22, 2019: 73 wells for the month; 73 wells for the quarter
- 34949, 373, Kraken, Jefferson 31-30 2H, Corinth, t10/18; cum 100K 2/19;
- 34948, 313, Kraken Operating, Jefferson 31-30 1TFH, Corinth, t11/18; cum 83K 2/19;
- 33875, drl, Crescent Point Energy, CPEUSC David 2-29-32-157N-99W MBH, Lone Tree Lake, no production data,
- 33876, drl, Crescent Point Energy, CPEUSC Bennie 5-20-17-157N-99W TFH, Lone Tree Lake, no production data,
- 34785, 1,083, Nine Point Energy, Missouri 152-103-4-2-3H, Eigthmile, t11/18; 100K 2/19;
- 34461, 1,365, CLR, Peterson 3-29H1, East Fork, t1/19; cum 44K 2/19;
- 34295, SI/NC, Petro-Hunt, USA 154-95-36D_35-3H, Charlson, no production data,
- 33877, drl, Crescent Point Energy, CPEUSC David 6-29-32-157N-99W TFH, Lone Tree Lake, no production data,
- 27666, 1,723, Whiting, Periot 44-20HU, Dollar Joe, t11/18; cum 109K 2/19;
- 34460, 1,934, CLR, Peterson 2-29HSL, East Fork, 1/19; cum 55K 2/19;
- 33878, drl, Crescent Point Energy, CPEUSC Bennie-2-20-17-157N-99W MBH, Lone Tree Lake, no production data,
RBN Energy: the Reliance crude gathering system in the northern Midland Basin, part 2.
Crude oil production in the Permian Basin is now approaching 4 MMb/d, and with more than 2 MMb/d of new pipeline takeaway capacity out of the resource-rich play set to come online over the next 12 months, there soon will be plenty of room for more production growth. To efficiently transport crude to takeaway pipes, however, producers and shippers need ever-growing networks of gathering systems in the Permian’s sweet spots where much of the drilling and completion activity is occurring. Ideally, these systems offer their users a high degree of optionality — that is, interconnections with multiple takeaway pipelines to different markets — so they can capture the best prices for their oil. Today, we continue our review of major gathering networks in the Permian with a look at Reliance Gathering’s nearly 250-mile system in the Midland, TX, area.