Capline Pipeline Reversal -- DAPL Implications? Two New DUCs, No Production Data -- May 24, 2021

Cabot, Cimarex, link here:

• Marcellus shale: 173,000 net acres (Cabot)
• Permian and Anadarko: 560,000 net acres (Cimarex)
• all stock deal; valued at $17 billion
• $17 billion / 733,000 acres = $23K/acre
  
• someone must have done some fast talking
• purpose of deal: prevent Cimarex from being taken over by a "major" and CEO with no job
• something more? the answer was worthy of the Delphi oracle but the fact that someone actually asked about the Bakken in this context is incredibly interesting.
  

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Back to the Bakken

Active rigs:

$64.67	5/24/2021	05/24/2020	05/24/2019	05/24/2018	05/24/2017
Active Rigs	19	14	65	65	49

Two wells coming off the confidential list --

Monday, May 24, 2021: 37 for the month, 58 for the quarter, 139 for the year:

• None.

Sunday, May 23, 2021: 37 for the month, 58 for the quarter, 139 for the year:

• 37780, drl/NC, CLR, Brandvik 12-25H, Corral Creek, no production data, the Brandvik/Weydahl wells are tracked here; the unitized Corral Creek oil field;
  

Saturday, May 22, 2021: 36 for the month, 57 for the quarter, 138 for the year:

• 37779, drl/NC, CLR, State Weydahl 12-36H, Corral Creek, no production data,

RBN Energy: crude oil industry prepares as Capline Pipeline closes in on "flip-day." Archived.

Over the next few months, a variety of market players — crude oil producers, midstreamers, refiners, and exporters — will be making preparations for one of the most anticipated infrastructure additions in recent years. Actually, it’s not technically new; it’s the long-planned reversal of the 632-mile, 40-inch-diameter Capline, which for a half-century transported crude north from St. James, LA, to Patoka, IL. 

Line-filling will begin this fall and Capline will start flowing south from Patoka in January 2022, providing Western Canadian and other producers with new pipeline access to Gulf Coast markets. Upstream of Patoka, the impending reversal has been spurring the development of new pipeline capacity to supply the soon-to-be-southbound Capline, and in Louisiana, refiners and exporters have been making plans for the crude that will be flowing their way into St. James. Today, we discuss the broad impacts of the “new” Patoka-to-St.-James pipeline.

See this RBN Energy post from August 18, 2019.

Akso at February 7, 2019.