Canadian CBR, Slawson, The Dockets, And All That Jazz, Page 4 -- September 3, 2018

Profits? How good was the last quarter. Russian oil giants more than doubled their combined profits in the first half, trouncing estimates thanks to a weaker ruble and rebounding prices. And with output curbs easing, the influx of cash is set to continue. Bloomberg.

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Huge, Huge Story For Appalachia

Making America Great Again

Making America great again. As you read this story, remember, Hillary's goal was to put millions of miners out of work. Trump's goal was to put Americans back to work. Let's swing over to Appalachia. Appalachia Development Group awards contract for $3.4 billion ethane storage hub. Wow, it never quit. Link here.

First, some background (see link below):

The goal of the Research Team was to complete a geologic study of all potential options for subsurface storage of NGLs along and adjacent to the Ohio River from southwest Pennsylvania to eastern Kentucky, with a similar study along the Kanawha River in West Virginia.

This involved the mapping and identification of areas where the Salina F Salt is at least 100 feet (ft) thick and suitable for solution mining; mapping and identification of areas of the Greenbrier Limestone that are at least 40 ft thick and suitable for hard-rock mining; and mapping the thickness and extent of sandstone reservoirs in depleted gas fields and gas storage fields that could be converted to NGL storage.

The Research Team defined an Area of Interest (AOI) on both sides of the Ohio River that extends from southwestern Pennsylvania in the north as far as the Kanawha River Valley in southern West Virginia, and conducted a regional stratigraphic study of all potential storage candidate formations and reservoirs in this area. Each of the individual stratigraphic units or intervals was defined in the subsurface based on well-log patterns that marked the top and bottom of each. These log tops were then correlated throughout the AOI, enabling the construction of regional stratigraphic cross sections as well as thickness and structure maps. Individual sandstone reservoirs were identified within this regional stratigraphic framework, as appropriate.

Now, data points from the linked Rigzone article:

• multibillion-dollar regional storage complex for NGLs
• sourced from the Marcellus, Utica, and Rogersville shale plays
• ADG and Parsons: joint venture: the buildout of the Appalachia Storage and Trading Hub (ASTH)
• first phase: pre-front end engineering design (FEED)
• subsequent phases: would include constructing the $3.4 billion project and its long-term operation
• the ethane storage hub will act as a catalyst for more than $36 billion in follow-on petrochemicals investments and the creation of more than 100,000 long-term jobs
• DOE: a $1.9 billion loan guarantee (I doubt Hillary's DOE would have done this -- the guarantees would have gone to her renewable energy cronies and Russian uranium friends)
• with the $1.9 billion loan guarantee, the group now seeks $1.4 billion in private investment (so while couch potatoes are watching hundred-thousand-dollar deals with Mark Cuban, the real investors are looking at US energy)
• this link takes you to the study: 2017 Appalachian Oil and Natural Gas Research Consortium study

Speaking of which, whatever happened to the proposed Badlands NGLs project? The last presentation was May, 2016.

On another note, a great time to re-read the New York Times reporting on natural gas shale revolution which they called a scam/hoax.