Starting The Day At 50 Active Rigs -- March 22, 2017

Active rigs:

	3/22/2017	03/22/2016	03/22/2015	03/22/2014	03/22/2013
Active Rigs	50	32	107	198	187

RBN Energy: SCCOP/STACK gas takeaway needs and the Midship announcement.

Shale revolution. Oil giants "upending" shale turf where wildcat drillers once ruled -- Bloomberg. From the article: (with snarky comments)

• drilling 10,000 feet down (imagine that)
• then drilling horizontally for a mile (imagine that; in the Bakken, 2-mile laterals for the past decade with a few 3-mile laterals)
• blasting through rock to capture light crude oil (imagine that, blasting through rock)
• they've turned shale drilling from art into science (imagine that; ND with the world's largest microseismic array)
• shale wells for as little as $5 million each (that's a bit of a stretch)
• Shell says they can make money in the Permian with oil at $40/bbl; new wells are profitable at $20/bbl (awesome)

Russian LNG. Rosneft signs deal to supply ten (10) LNG cargoes to Egypt in 2017  -- Reuters. Rosneft must have read the blog. At the link: Egypt: imported more LNG than India in 2015; second only to China in LNG imports. Also:

• Jordan: a new entrant -- imported as much LNG as France in 2015 
• Pakistan: a new entrant -- imported twice as much LNG as France in 2015  
• Egypt: a new entrant -- imported more LNG than India in 2015