- prior: 2.981 million
- forecast: 2.375 million
- actual: 2.428 million
Fast And Furious
Headlines without links in most cases. Stories easily found through Google.
USC scandal: Actress Lori Loughlin, husband to plead guilty in college entrance exam.
Dak Prescott: $175 million for five years. Not yet signed. Deadline July 15.
NASCAR: as predicted, huge television ratings.
BLM slashes royalties on federal oil, gas leases.
New Mexico: BLM abruptly postpones lease sales.
Saudi Aramco / SABIC deal in jeopardy.
American heartland desperate for pickup trucks.
Michigan: massive flooding has interesting back story.
Back to the Bakken
Thee wells coming off confidential list today -- Thursday, May 21, 2020: 64 for the month; 114 for the quarter, 341 for the year:
- 35930, drl/drl, XTO, Mandal Federal 41X-29DXA, Haystack Butte, t--; cum --;
- 35231, 1,037, Nine Point Energy, Helling 150-101-7-6-6H, Pronghorn, t12/19; cum 98K 3/20;
- 35448, drl/drl, Hess, BB-Federal B-151-95-2122H-11, Blue Butte, t--; cum --;
The Marcellus/Utica production region in the northeastern U.S. is not immune to the upheaval in global energy markets. There, a number of E&Ps are implementing further cutbacks in their natural gas production. That will result in lower NGL production, which may have serious implications for regional supplies of propane for heating this coming winter. LPG exports out of the Marcus Hook terminal near Philadelphia also may be impacted. Today, we look at recent developments in the Marcellus/Utica and the potential effects of lower NGL production in the region.
It has been a wild couple of months in energy markets, including the markets for NGLs.
For a few days in late April, a barrel of propane was worth more than a barrel of crude oil. That isn’t supposed to happen, folks. Partly it was a supply thing: production of crude oil and associated gas is declining, bringing propane supplies down with it. At the same time, though, demand for propane from U.S. steam crackers and from international markets has been relatively steady. As a result, we already are seeing flows, price relationships and differentials convulsing in response to the new reality, and projections of future supply/demand imbalances suggest a previously unthinkable possibility: a U.S. market that can’t get enough propane supply, especially if the winter of 2020-21 is a cold one.