It Never Quits Under Trump -- Now, Yet Another, Terminal Off Louisiana Coast -- "Shale-To-Ship" -- August 21, 2018; Are We Headed Below 50 Rigs In North Dakota?

AAA: gasoline is not expensive. Regular readers know what this is all about. If not, click on "gasoline demand."  From Rigzone: US motorists buying less gasoline and paying less. 

Really? US offers eleven (11) million bbls of oil for sale from SPR -- Reuters --  let's see if Reuters puts that into context -- data points:

• sale of sour crudes -- interesting choice; sour crude from Bryan Mound, in addition to West Hackberry and Big Hill
• earlier this year, 5.2 million bbls was sold from the SPR (Reuters did not mention that oil companies pretty ignored the sale)
• "SPR crude oil samples are not available prior to deliveries" -- three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes
• I could be wrong, but the consensus appears that with sanctions, maybe one million bbls of heavy, sour, Iranian crude might be taken off the market, each day -- 11 million bbls = 11 days -- okay

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Back to the Bakken

 
Wells coming off confidential list today --

Tuesday, August 21, 2018

• 33364, 1,299, Whiting, Lindy 34-10-1TFH, East Fork, 36 stages; 10.4 million lbs, almost 300,000 lbs/stage, t3/18; cum 70K 6/18;
• 30277, SI/NC, WPX,Joseph Eagle 19-18HZ, Mandaree, huge well, said to be SI/NC, but produced 75K in less than two months -- see this post; frac data not available at NDIC; FracFocus: 4/25/18 - 5/4/18; 5.7 million gallons of water (a small frack by today's standards in the Bakken); 88% water; 11% proppants; very small amount by today's standards;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2018	30	33588	33659	25934	35335	30746	840
BAKKEN	5-2018	23	41110	40812	38893	43248	29381	9313
BAKKEN	4-2018	0	0	0	0	0	0	0

Active rigs:

$65.90↑	8/21/2018	08/21/2017	08/21/2016	08/21/2015	08/21/2014
Active Rigs	57	52	32	76	193

RBN Energy: Tallgrass' plan for a crude oil export-import terminal off the Louisiana Coast.

There are common drivers behind the handful of offshore crude oil terminals now under development along the Gulf Coast, chief among them the well-founded belief that shippers would prefer putting crude on Very Large Crude Carriers (VLCCs), which can only be fully loaded in deep water.

But each of these projects also has unique nuances — its own specific rationale and characteristics.

Tallgrass Energy’s plan is a case in point in that it involves a new pipeline from the crude hub in Cushing, OK, to the refinery center in St. James, LA, and to a new onshore crude storage and loading terminal a few miles down the Mississippi River, to be followed by a VLCC-ready offshore terminal capable of both exporting and importing crude.

Today, we continue our review of made-for-VLCCs offshore terminals with a look at Tallgrass’s effort to deliver neat, unblended barrels directly from multiple inland plays to deep water — “shale-to-ship,” in other words.

Here's looking at you, kid: