Cushing Update -- RBN Energy -- December 20, 2018

Tallgrass Energy: may be up for sale -- Fitzsimmons over at SeekingAlpha --

• Tallgrass popped higher Wednesday. and it's not even a marijuana stock.
• Bloomberg says a consortium of companies including StonePeak Infrastructure Partners are considering a deal to buy Tallgrass.
• Three insiders bought a total of 88,828 shares during November for a total value of $1.8 million-plus.
• Institutional and insider ownership is high, which means individual investors will have little say and are just along for the ride.
• Recent insider buys indicated management would need a price of at least $25.50/share for a 20% return on their recent insider buys.

OPEC may fail to get the price correction it wants.

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Back to the Bakken

Wells coming off confidential list today -- Thursday, December 20, 2018:

• 34921, SI/NC, Slawson, Whitmore 4-7-6H, Parshall, no production data, 
• 34206, SI/NC, Hess, BB-Chapin-151-95-0506H-10, Blue Buttes, no production data,
• 33691, 1,011, Oasis, Lite 5393 41-11 12T, Sanish, Three Forks, 50 stages; 10 million lbs (small, medium, large white sand and ceramic), t7/18; cum 93K 10/18;

Active rigs:

$46.50	12/20/2018	12/20/2017	12/20/2016	12/20/2015	12/20/2014
Active Rigs	68	51	41	64	182

RBN Energy: Cushing -- still the preeminent crude oil hub for the US. Archived.

The Cushing, OK, storage and trading hub plays critically important roles in both the physical and financial sides of the crude oil market. Located at a central point for receiving crude from a wide range of major production areas — Western Canada, the Bakken, the Rockies, SCOOP/STACK and the Permian among them — the hub also has numerous pipeline connections to Gulf Coast refineries and export docks, and to a large number of inland refineries. And, with Cushing’s 94 MMbbl of storage capacity and status as the delivery point for NYMEX futures contracts for West Texas Intermediate, the hub’s inventory levels and the WTI-at-Cushing price are closely watched market barometers.

But like a lot of other U.S. energy infrastructure in the Shale Era, Cushing’s place in the energy world has been in flux. Most importantly, Permian production has been surging, the ban on U.S. oil exports is a fading memory, and the Gulf Coast — not Cushing — is where most U.S. crude production wants to go.