Not A Good Quarter For Musk Melon -- January 9, 2018

ISO New England: customers getting a bit of relief, if one can say that $230/MWh is "relief." Heating oil surged 50% in price during this most recent cold snap Now that it is warming up, less heating oil is needed, and natural gas as percentage of energy mix has surged:

Billion-dollar satellite fails to gain orbit: first SpaceX launch. Story everywhere. CNBC link -- so you know it's true.

Telstar, The Tornados

Tesla Drive-Through: This is almost bizarre. Maybe it is beyond bizarre. I don't know. But now with everything else, Musk Melon has another idea: a Tesla Supercharger drive-in restaurant. He must have been watching The Founder --- LOL --- I just watched that movie for the first time (on Netflix) two nights ago. I've ordered my own Blu-Ray copy.

Filloon: Apache improves oil production per foot.

Active rigs:

$61.96→	1/9/2018	01/09/2017	01/09/2016	01/09/2015	01/09/2014
Active Rigs	54	37	58	167	193

RBN Energy: big changes coming to the condensate market.

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The Permian

Back to the Filloon story linked above. Some of these Permian wells are absolutely incredible.

Apache has excellent leasehold in the Permian, and continues to focus the bulk of investment there. Egypt and the North Sea have better cash margins, but it has become a more unconventionally focused company. We pulled the data on 80 APA horizontal locations in Texas completed after January 1st of 2016. Twelve locations had laterals between 7,500 and 9,200 feet. It continues to develop short laterals. It had a recent successful location in Loving County that produced 305 MBO in 9 months. It is a 5,100 ft lateral. It used 7.5 million lbs of sand.