Monday, October 12, 2020

Enerplus Reports Two Nice Wells -- October 12, 2020

Focus on fracking: has posted

OPEC basket, link here: $41.06

Back to the Bakken

Active rigs:

Active Rigs1358675933

Two wells coming off the confidential list --

Monday, October 12, 2020: 17 for the month; 17 for the quarter, 682 for the year

  • None.

Sunday, October 11, 2020: 17 for the month; 17 for the quarter, 682 for the year

  • 35967, drl/NC, Enerplus, Everglades 148-95-02B-11H, Eagle Nest, t--; cum 84K 8/20; a 30K month; total drilling days, 14; planned lateral, 9,766' with 40 stages planned;

Saturday, October 10, 2020: 16 for the month; 16 for the quarter, 681 for the year

  • 35966, drl/NC, Enerplus, Yellowstone 148-95-02B-11H, Eagle Nest, t--; cum 98K 8/20; a 29K month; 28,846 bbls over 12 days extrapolates to 72K over 30 days; total drilling days, 18; planned 9,766' lateral; with 40 stages;

With regard to the Enerplus wells, see these links:

RBN Energy: new Permian-to-Gulf gas pipelines to shake up regional flows and basis, part 2

Permian natural gas production is now expected to grow at a subdued pace over the next five years, as lower oil prices and a focus on capital discipline have slashed rig counts. 
Few observers see the Permian situation changing anytime soon, especially as crude oil prices continue to hover around $40/bbl. That said, the Permian gas market will be anything but dull over the months and years ahead. More than 4 Bcf/d of new outbound pipeline capacity from the Permian to the Gulf Coast will be coming online next year, throwing natural gas flows from West Texas into flux and deeply impacting neighboring markets. While natural gas basis at the Permian’s primary Waha hub should improve dramatically, outflow to the Midcontinent will likely fall sharply and potentially reverse, and the Texas Gulf Coast will see an influx of supply on the new pipelines.

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