Nine Wells Coming Off The Confidential List Today -- November 21, 2018 -- Hubbert's Peak Oil Theory Is Dead -- Rigzone

Agree completely: from Rigzone -- Shell is wrong -- global oil demand can only increase. Archived.

Bolstered by the U.S. shale revolution, global oil production has surged by over 20 percent in the past 15 years. The great rise has put to bed the “peak oil production” theory but it has not stopped the apparent new concern of “peak oil demand,” now portrayed as perhaps the main threat to the future of the world’s oil industry.

In fact, it’s hardly just anti-oil environmental groups; many of the major producers themselves (Royal Dutch Shell in particular) assert that global oil consumption will soon peak and thereafter begin its terminal decline. The basis of this belief is the growth of electric vehicle sales and the need to reduce oil use to combat climate change.

Yet for oil, what’s past is prologue: even with higher prices, both the Energy Information Administration (EIA) and International Energy Agency (IEA) modeling have repeatedly forecast more demand for as far as the eye can see. After all, oil is the world’s most important fuel, supplying 35 percent of all energy used. While the link between economic growth and oil use can be viewed from a variety of perspectives, the two clearly progress in tandem – a long studied link demonstrated in regression modeling and peer-reviewed studies.

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Back to the Bakken

Wells coming off the confidential list today -- Wednesday, November 21, 2018:

• 34053, SI/NC, WPX, Howling Wolf 28-33HT, Wolf Bay, no production data,
• 34050, SI/NC, MRO, State Oster 14-36TFH, Bailey, no production data,
• 33516, 962, Enerplus, Sodium 147-93-05B-08H-TF, Moccasin Creek, 35 stages; 5 million lbs; t5/18; cum 121K 9/18;
• 33515, 1,828, Enerplus, Chrome 147-93-05B-08H, Moccasin Creek, 37 stages; 12.4 million lbs; t5/18; cum 148K 9/18;
• 33514, 1,907, Enerplus, Aluminum 148-93-32CH, McGregory Buttes; t5/18; cum 78K 9/18;
• 33513, 1,157, Enerplus, Gold 147-93-05B-08H-TF, Moccasin Creek, 39 stages; 5.6 million bls; t5/18; cum 138K 9/18;
• 33512, 1,227, Enerplus, Zirconium 147-93-05B-08H, Moccasin Creek, 38 stages; 12.6 million lbs; t5/18; cum 136K 9/18;
• 31194, SI/NC, Slawson, Jore Federal 1-12H,
• 30484, 405, Lime Rock Resources, Emil Veverka 5-20-17H-143-95L, Murphy Creek, t6/18; cum 45K 9/18;

Active rigs:

	11/21/2018	11/21/2017	11/21/2016	11/21/2015	11/21/2014
Active Rigs	62	55	38	65	191

RBN Energy: BC pipeline outage disrupts western US winter gas prices and flows.

Natural gas markets in the U.S. Northwest have been in turmoil ever since a rupture on Enbridge’s BC Pipeline system over a month ago (on October 9) disrupted Canadian gas exports to Washington State at the Sumas border crossing point. Service on the affected line has been restored but at a reduced operating pressure for now, and Canadian gas deliveries to Sumas remain at about half of their pre-outage levels, creating supply shortages in the region. Spot natural gas prices at the Sumas, WA, trading hub have been volatile, soaring well above Henry Hub and rocketing to a record outright price of nearly $70/MMBtu late last week. The outage has reverberated across the Western U.S. gas market, sending regional prices reeling as gas flows adjusted to help offset supply shortages. Today, we examine the knock-on market effects of the outage on Western gas flows and prices, and potential implications for the winter gas market.