- 10 projects selected from 126 onshore projects globally
- about $85 billion in CAPEX will be spent over the lifetime of these top 10 onshore projects
- these top 10 projects will produce almost 10 billion bbls of crude oil
- [for comparison, the Bakken, a reservoir of at least 500 billion bbls, at 20% primary production, will produce 100 billion bbls; so far the Bakken has produced about 1 x 365 x 8 = 3 billion bbls of crude oil]
- the average development breakeven = $55/bbl [for comparison, the breakeven across North Dakota is $21/bbl]
- projects in Russia have the greatest break-even at $92/bbl
- to bring the 10 projects online: $85 billion
- by 2025: CAPEX forecast at $50 billion
- conventional oil Kuyumbinskoye development in Russia leads capital investment with $13 billion over its development lifetime
- second, in CAPEX: Canada's Telephone Lake (Cenovus Energy), a $10 billion CAPEX development cost
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Back to the Bakken
Back to the Bakken
IP30 Data in the Bakken: from a SeekingAlpha article last August 23, 2017 -- I will come back to this one later today.
Active rigs:
$62.74→ | 2/23/2018 | 02/23/2017 | 02/23/2016 | 02/23/2015 | 02/23/2014 |
---|---|---|---|---|---|
Active Rigs | 56 | 41 | 39 | 126 | 187 |
RBN Energy: a downside for many midstreamers in new tax law.
While the recently enacted federal tax cuts have been widely viewed as a boon to corporate America, including businesses in the energy sector, a new report by our friends at East Daley Capital finds a major drawback in the law for midstream companies. By slashing the corporate tax rate from 35% to 21% — and by allowing partnerships and “pass-through” entities to take a 20% deduction on their income pre-tax — the new law will increase the return on equity that midstreamers earn on their crude oil, NGL and natural gas pipelines.
That may well lead the Federal Energy Regulatory Commission (FERC) to re-set its formula rates for at least some gas pipelines, and also is likely to heighten regulatory scrutiny of the rates charged by the owners of oil and NGL pipelines. Today, we continue our review of East Daley’s new “Dirty Little Secrets” report with a look at the tax law, the higher pipeline ROEs resulting from the tax cuts, and the midstream companies that may be affected most.
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