Friday, March 5, 2021

Odds And Ends -- Early Morning Edition -- CBR, Why Saudi Is "Holding The Line" -- March 5, 2021

YCC: yield control curve, link here.

Dry hole:

  • ExxonMobil hits third dry hold offshore Guyana;
  • the company said every well, even dry holes, provides valuable data;
  • the article did not say how much it costs to drill dry holes that provide valuable data;
  • I've lost the bubble whether off-shore Guyana is still considered in its exploratory phase or development phase; I assume the former, although it may be a "mix"
  • there are no dry holes in the Bakken (or the Permian, for that matter); 
    • do not take that out of context

Rig counts: S&P Global Platts;

  • rig count leaps 30 to 491
  • twelve of those in the Permian
    • the jump may have simply been mobilization of rigs "frozen" by the Texas February Freeze
    • the freeze hit the Permian and Eagle Ford Shale in South Texas particularly hard. At peak, up to 4 million b/d of the US' total 11 million b/d of oil production was offline, although most of it was quickly restored within a few days
  • nine basins
    • liquid-rich: six -- Permian, Eagle Ford, Scoop-Stack, Denver-Julesburg, Williston, Marcellus wet
    • dry gas: three -- Haynesville, Marcellus dry, Utica
  • the Permian dwarfs the other eight

Keystone XL? Who needs the Keystone XL? USD Group nearing completion of Hardisty-to-Port Arthur (Canada to Texas) CBR network; link here at twitter;
at S&P Global Platts;

  • Canadian crude exports are holding steady to US Gulf Coast;
  • shipping crude by rail from Hardisty to the US Gulf Coast: $12 - $18 / bbl
  • interim plan
  • western Canadian oil pipeline volumes should increase by the end of 2021
  • Enbridge Line 3 Replacement project;
  • TC Energy's base Keystone system through optimization expansion

Why Saudi is "holding the line." Link here.

No comments:

Post a Comment