US Gas Exports To Mexico Hit Record -- Pipeline Infrastructure Was Key -- July 26, 2018

Fast and furious:

• rough start and talking the market down -- I will come back to this
• COP: earnings; full filing here; waiting for transcript;
• Shell: kicks off big oil earnings with growth spirit
• DAPL: civil asset forfeiture -- no sympathy from me
• jobs report: another great jobs report: CNBC does not cover it
• McDonald's beats by 7 cents; beats on revenue 
• Citi makes case for $45 oil next year -- that the headline -- actual range, $45 - $65

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Back to the Bakken

Wells coming off the confidential list today:

• 31953, 1,072, Hess, EN-Vachal-155-93-0532H-6, Alger, t6/18; cum -- 
• 31518, 1,538, CLR, Lansing 8-25H1, Banks, a very nice well; this was a DUC; now back on conf; the CLR Lansing wells are tracked here; t3/18; cum 84K 5/18;
• 23556, SI/NC, Slawson, Gabriel 1-36-25H, North Tobacco Garden, no production data,

Active rigs:

$69.14→	7/26/2018	07/26/2017	07/26/2016	07/26/2015	07/26/2014
Active Rigs	64	60	33	73	193

RBN Energy: infrastructure additions send US gas exports to Mexico soaring above 5 bcf/d for the first time ever.

After idling near the 4.6-Bcf/d level for months, piped gas flows to Mexico raced to a record of more than 5 Bcf/d for the first time earlier in July, and have hung on to that level since. This new export volume signifies incremental demand for the U.S. gas market at a time when the domestic storage inventory is already approaching the five-year low. At the same time, it would also signify some much-needed relief for Permian producers hoping to avert disastrous takeaway constraints — that is, if the export growth is happening where it’s needed the most, from West Texas. However, that’s not exactly the case. What’s behind the sudden increase, where is it happening and what are the prospects for continued growth near-term? Today, we analyze the recent trends in exports to Mexico.