Even With The Demand, SRE Able To Inject Some Natural Gas Into Storage -- Truly Amazing -- June 22, 2016; NDIC Did Not Post Today's Daily Activity Report

Updates

Later, 7:20 p.m. Central Time: see first comment. I brought it up here to make it google-searchable:

Currently there are only 25 large rigs capable of drilling drilling to TD in North Dakota.

Three listed rigs are only drilling surface holes to about 2000 feet (Noble 1 & 2, AES 36). Capstar 311 is drilling a saltwater disposal well in southeast McKenzie County.

State/national drilling rig counts are normally inflated when these smaller support rigs are added to the total of large rigs which can drill through the payzone and potentially increase production.

I believe it is very important to note, there were nearly 3600 rigs operating worldwide in late 2014 when oil prices started to fall. According to Baker-Hughes, there are only 1450 rigs operating somewhere in the world today.

It is estimated about 2800 to 3000 rigs are necessary to resupply the normal depletion of the world's producing wells.

If reports of world production and consumption are "in balance" and we are beginning to burn-down the over supply from the past year, the current rig count should be causing flashing red lights in the coming months.

The nearly 1,000 "drilled-uncompleted" wells in ND are significant but with less than 10 fracking teams active it's going to take many months to get these DUCs on line. Any gearing-up is going to be slow with prices under $60 per barrel.  

Original Post

From SeekingAlpha:

• Sempra Energy's SoCalGas has passed its first test of the summer since the closure of its Aliso Canyon storage facility following October's massive gas leak, keeping fuel supplies flowing amid blazing temperatures early this week.
• SoCalGas says it delivered ~3.3B cf of gas and received 3.2B cf from pipelines on Monday, but with cooler weather on Tuesday, deliveries fell to ~2.9B cf while pipeline receipts reached 3.1B cf, allowing some injections back into storage.
• The utility's three remaining storage facilities have a combined withdrawal capacity of 1.7B cf/day but cannot make up for all of Aliso Canyon's capability to support demand in the Los Angeles area because they are smaller or located too far away.
• SoCalGas has said it hopes to return Aliso Canyon to partial service by the end of the summer, but cannot inject gas into the field until it inspects all 114 wells.

Market:  At $196.66 right now, TSLA closed below $200.

How many new 52-week highs today on the NYSE, on a down day? 116, vs 14 new 52-week lows. New highs included: ATT (a big whoop); XOM (a big whoop); Newfield Exploration (wow); ONEOK (wow); and, TransCanada.

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Meanwhile, Here in the Bakken 

We're back to 29 active rigs:

	6/22/2016	06/22/2015	06/22/2014	06/22/2013	06/22/2012
Active Rigs	29	75	189	189	211

Wells coming off confidential list Thursday:

• 25201, SI/NC, BR, Merton 21-15TFH 3NH, North Fork, no production data,
• 29516, 379, Liberty Resources, ND State 158-95-21-28-3TFH, McGregor, 4 sections, 50 stages, 4.5 million lbs, t1/16; cum 33K 4/16;

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29516, see above, Liberty Resources, ND State 158-95-21-28-3TFH, McGregor:

Date	Oil Runs	MCF Sold
4-2016	5219	6561
3-2016	7076	10028
2-2016	7964	9108
1-2016	10716	10599
12-2015	1690	1399

It appears NDIC did not post today's Daily Activity Report.