Thursday, April 30, 2020

Two Wells Coming Off Confidential List Today -- April 30, 2020

OPEC basket: $14.36, which, I assume, Saudi Arabia is "very comfortable" with.

Back to the Bakken

Active rigs:

Active Rigs3164614929

Two wells coming off the confidential list today --

Thursday, April 30, 2020: 50 for the month; 50 for the quarter, 286 for the year:

  • 35671, SI/NC, Zavanna, Stranger 28-21 7TFHXE,  Poe, t--; cum 59K 2/20;
  • 35535, 749, Oasis, Merritt 5693 13-24 5T, Alger, t11/19; cum 54K 2/20;
RBN Energy: how long until crude oil and refined products storage maxes out? Archived.
The global economic shut-down caused by COVID continues to wreak havoc on U.S. markets. Last week, the dynamics that resulted in negative prices for NYMEX WTI thrust crude oil, and, more specifically, storage at Cushing, OK, into the national spotlight. The extraordinary imbalance in U.S. crude oil supply and demand has been pushing record volumes of oil into storage at the Cushing crude hub and tankage along the Gulf Coast. The same fundamental factors have also driven a surge in stocks of refined products like gasoline and diesel. Now the questions on everybody’s mind are, how long until storage tanks are completely full and what will that mean? Today, we’ll discuss recent trends and consider what record storage builds mean for the oil patch.

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