WTI Drops Below $60 -- November 9, 2018

Only one well coming off the confidential list today --Friday, November 9, 2018:

• 34269, SI/NC, Oasis, Muri 5198 11-4 14T, Banks, producing nicely, see this post for the graphic; SI/NC, but producing nicely --

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	9-2018	20	10059	9963	20071	22579	10767	11692
BAKKEN	8-2018	31	15158	15158	31510	33003	19773	13044
BAKKEN	7-2018	31	18045	18045	38038	41660	37811	3663
BAKKEN	6-2018	30	21253	21253	36927	41992	41812	0
BAKKEN	5-2018	2	114	114	1436	440	0	428

Active rigs:

$59.64😢	11/9/2018	11/09/2017	11/09/2016	11/09/2015	11/09/2014
Active Rigs	66	52	37	65	193

RBN Energy: more coal-fired power plants closing on uncompetitive economics.

Gas-fired power generation in the U.S. has been making impressive gains lately and that trend looks likely to continue.

Power demand is growing quickly and generation fueled by cheap natural gas is taking an ever-increasing market share of the new and existing load from more expensive generators like coal and nuclear, which is leading significant numbers of those plants to shut down.

The Energy Information Administration (EIA) earlier this year forecast that combined-cycle, gas-fired generation capacity could rise by 6.1 GW between now and 2020, which ­— if fully called upon — would equate to roughly 1 Bcf/d of gas demand.

That growth would displace some older gas-fired generation but also fill the void left by retiring coal-fired and nuclear power generators — two sectors EIA expects to decline over the next couple of years by 14.1 GW and 1.7 GW, respectively. What’s more, surging gas production and rapidly filling pipeline expansions in recent months suggest that gas-fired generation demand may be growing even faster than expected. Today, we take a look at how gas generation has been besting coal-fired plants on fuel costs in recent years, and at the string of nuclear and coal-fired generators that are being permanently retired.

See also the graphic at this post.