The answer will be posted Monday, August 4, 2019, sometime during the day after I get caught up with the news that came out over the weekend.
Originally posted here, so some answers/replies will be at that post.
On another note, 99.9999999%+ Americans can be thankful they had an uneventful weekend. Huge condolences to the families in Dayton, OH, and El Paso, TX.
Back to the Bakken
Wells coming off the confidential list over the weekend, today --
Monday, August 5, 2019: 8 for the month; 57 for the quarter;
- 35982, SI/NC, Sinclair, Uran 7-15H, Sanish, no production data,
- 34939, SI/NC, Hess, EN-Kulczyk-154-94-2029H-12, Alkali Creek, no production data,
- 34895, 887, Kraken, Pocasset LE 29-32 1H, Oliver, t2/19; cum 103K 6/19; a nice well;
- 34940, SI/NC, Hess, EN-Kulczyk-154-94-2029H-2, Alkali Creek, no production data;
- 34155, 537, Oasis, Aagvik 5298 14-26 13BX, Banks, t2/19; cum 156K 6/19; huge well;
- 34035, 138, Petro Harvester Operating Company, LLC, FLX3 28-33 163-91 D, Portal, a Madison well; t5/19; cum 7K 6/19; a nice well for a Madison well; I might come back to this one; it's a horizontal Madison well; huge amount of water in first two months; flowback/produced/
RBN Energy: why Enterprise's offshore crude export terminal reached FID.
The news has been out for a few days now: Enterprise Products Partners announced last Tuesday, July 30, that, thanks to new agreements with Chevron, the midstream company has made a final investment decision to proceed with its Sea Port Oil Terminal (SPOT) about 30 miles off the coast of Freeport, TX, pending regulatory approvals. Being out front on this is critically important; even with significant growth in crude oil export volumes through the early 2020s, only one or two new export terminals capable of fully loading Very Large Crude Carriers (VLCCs) are likely to be needed. What was it that enabled Enterprise to move first among a wave of proposed projects? And what does that tell us about the VLCC-ready export terminal projects being advanced by others? Today, we look at the SPOT project and the important roles that existing pipeline and storage infrastructure play in export terminal development.
All indicators point toward sharply higher crude oil exports from Gulf Coast terminals over the next few years. U.S. production now averages more than 12 MMb/d; domestic refineries can’t use any more of the light sweet crude that major U.S. shale plays are producing in record volumes; new oil pipeline capacity from the Permian and the Cushing, OK, crude hub to the coast is coming online; and — while marine docks in Texas and Louisiana can handle current export flows (an average of 2.5 MMb/d so far this year, according to RBN’s Crude Voyager report) — they may soon be overwhelmed if more export capacity isn’t added. We’ve been discussing all this in a number of blogs over the past year or so, where we looked at the new terminals being proposed (most of them in deep water off the Texas coast) to fully load VLCCs — those deep-draft, 2-MMbbl behemoths that many shippers prefer for long-distance crude hauling because of their economies of scale. (We updated that series in early July with a look at two recent entrants in the race to build VLCC-ready export facilities: Sentinel Midstream’s Texas GulfLink project in the waters off Freeport, TX, and Phillips 66’s proposed Bluewater Texas Terminal off Corpus Christi.)