Reminder: Wells Coming Off Confidential List Over The Weekend, Monday Have Been Posted -- November 30, 2014

Active rigs:

	11/30/2014	11/30/2013	11/30/2012	11/30/2011	11/30/2010
Active Rigs	185	191	182	198	163

Reminder: wells coming off the confidential list over the weekend, Monday have been posted with their IPs.

Updating 3Q13 wells: it really is incredible all the wells that are reaching 100K in the first year. This is an example of a nice Fidelity well, for example:

• 23913, 1,223, Fidelity, State 30-31H, Stanley; t3/13; cum 191K 10/14;

Slump in oil price continues: futures down $1.60 to under $64.

War of words: The Telegraph (link here).

Saudis risk playing with fire in shale-price showdown as crude crashes A deep slump in prices might heighten geostrategic turmoil across the Middle East

Saudi Arabia and the core Opec states are taking an immense political gamble by letting crude oil prices crash to $66 a barrel, if their aim is to shake out the weakest shale producers in the US. A deep slump in prices might equally heighten geostrategic turmoil across the broader Middle East and boomerang against the Gulf’s petro-sheikhdoms before it inflicts a knock-out blow on US rivals.

Caliphate leader Abu Bakr al-Baghdadi has already opened a “second front” in North Africa, targeting Algeria and Libya – two states that live off energy exports – as well as Egypt and the Sahel as far as northern Nigeria. “The resilience of US shale may prove greater than the resilience of Opec,” said Alistair Newton, head of political risk at Nomura.

Chris Skrebowski, former editor of Petroleum Review, said the Saudis want to cut the annual growth rate of US shale output from 1m barrels per day (bpd) to 500,000 bpd to bring the market closer to balance. “They want to unnerve the shale oil model and undermine financial confidence, but they won’t stop the growth altogether,” he said.

There is no question that the US has entirely changed the global energy landscape and poses an existential threat to Opec. America has cut its net oil imports by 8.7m bpd since 2006, equal to the combined oil exports of Saudi Arabia and Nigeria.

The country had a trade deficit of $354bn in oil and gas as recently as 2011. Citigroup said this will return to balance by 2018, one of the most extraordinary turnarounds in modern economic history.

“When it comes to crude and other hydrocarbons, the US is bursting at the seams,” said Edward Morse, Citigroup’s commodities chief. “This situation is unlikely to stop, even if prevailing prices for oil fall significantly. The US should become a net exporter of crude oil and petroleum products combined by 2019, if not 2018.”

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Non-Bakken

St Louis: the "universal" posture for Ferguson protestors has been "raising arms/hands, signaling 'don't shoot.'" It looks like the new posture will have to include holding hammers.