Random Update Of An Old CLR Dvirnak Well -- December 11, 2018

The well:

• 20806, 744, CLR, Dvirnak 2-7H, API: 33-025-01369, Jim Creek, t12/11; cum 301K 10/18; available data suggests this well has not been re-fracked.

Recent production profile:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2018	31	10469	10429	12103	11342	10928	0
BAKKEN	9-2018	25	20880	20410	18923	22191	21860	0
BAKKEN	8-2018	4	2388	2337	3724	1641	0	1600
BAKKEN	7-2018	0	0	0	0	0	0	0
BAKKEN	6-2018	0	0	0	0	0	0	0
BAKKEN	5-2018	0	0	0	0	0	0	0
BAKKEN	4-2018	0	0	0	0	0	0	0
BAKKEN	3-2018	2	3	236	7	4	0	4
BAKKEN	2-2018	24	1096	1404	506	1321	1306	15
BAKKEN	1-2018	31	1673	1612	527	2183	2183	0
BAKKEN	12-2017	31	1660	1617	471	2085	2069	16
BAKKEN	11-2017	30	1650	1428	454	2040	2040	0
BAKKEN	10-2017	31	1730	2014	489	2170	2170	0

The Dvirnak wells are tracked here.

The CLR Dvirnak Wells In Jim Creek Oil Field Are Being Completed -- December 11, 2018

This page will not be updated.

The Dvirnak wells are being fracked; some are completed. The Dvirnak wells are tracked here.

Note the production profile of one of the Dvirnak wells:

• 32749, 2,358, CLR, Dvirnak 8-7H, 47 stages; 12.5 million lbs, Jim Creek, t10/18; cum 72K 10/18;

Production profile:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2018	31	62410	62244	71630	78652	71527	7125
BAKKEN	9-2018	4	7751	7637	7373	8265	5893	2372
BAKKEN	8-2018	0	0	0	0	0	0	0
BAKKEN	7-2018	0	0	0	0	0	0	0
BAKKEN	6-2018	5	1340	1340	9870	1799	0	1799
BAKKEN	5-2018	1	0	0	1468	0	0	0

MRO Extends Core Position In The Bakken -- December 11, 2018

Updates

December 12, 2018: one thing overlooked in the note below. This announcement was made in the face of tanking WTI prices, trading at about $50 when the announcement was made. Speaks volumes.

Original Post 

I had alluded to this earlier, in an earlier post; a reader provided link to information released today. 

Background:

• MRO, 4Q17 presentation;
• MRO, the record-setting Bakken

A reader sent me a link to this press release: Marathon reports successful Bakken core extension test in Ajax area.

HOUSTON, Dec. 11, 2018 /PRNewswire/ -- Marathon Oil Corporation today announced encouraging early production results at an important four-well Middle Bakken pad in the Company's Ajax area of the Williston Basin in Dunn County, North Dakota.

The four-well pad achieved an estimated average 30-day initial production (IP) rate of over 2,400 barrels of oil equivalent per day (boed) (84% oil).

The Company also announced it has repurchased approximately $150 million of additional common stock subsequent to the date of its third quarter 2018 earnings release. Year-to-date share repurchases now total approximately $650 million, leaving $850 million of buyback authorization outstanding.

The Market, Energy, And Political Page, Part 3, T+36 -- December 11, 2018 -- Shale Story Staggering

I had no interest in this article, but the very first paragraph caught me by surprise. I thought the Arctic was ice-free and tourists were watching polar bears from Norwegian cruise ships. Boy, was I wrong! From oilprice:

For many, the Northeast Passage through the Arctic could one day be a ‘Northern Suez Canal’. While icy waters have frozen such dreams, recent advances in nuclear technology might finally unlock the full economic potential of the once-daunting Arctic waters.

There is no shortage of interest in the High North. In October, the Trump administration in the U.S. approved a project to extract oil from beneath the Beaufort Sea, though melting ice has since forced changes to those plans. [What?]

That same melting ice, while raising major environmental concerns, simultaneously creates other possibilities: among them, the prospect of dramatically shortened sea routes between Europe and Asia which could cut transit times by two weeks compared to the Suez Canal passage. Those reduced travel times translate to savings of 40% on both fuel and shipping costs, while lowering CO2 emissions by 52%.

However, the Northern Sea Route (NSR) along the Russian Arctic coast – a key leg of the Northeast Passage – has historically been traversable only from July to October. It has mainly been used by domestic Russian players, and requires the use of icebreakers and specially equipped ‘ice class’ vessels. In short, a thriving NSR has been nothing more than a dream, even with the melting ice, because it’s simply impossible to sail in the region for most of the year.

Not quite ice-free, I guess.

The Economist now says the Arctic will be ice-free by 2040. And that's about the time the Arctic will be producing oil, I suppose.

When was the Arctic predicted to be ice-free? 2014. 

I love the quibbling. From snopes, FWIW:

What's True

In the late 2000s, Al Gore made a series of high-profile statements suggesting the possibility that Arctic sea ice could be completely gone during the summer by around 2013 or 2014.

What's False

Gore did not himself make these predictions but said (in some cases erroneously) that others had; Gore never referred to a year-long lack of ice for both poles, but instead largely referenced Arctic sea ice in the summer.

😄

Number Of North Dakota Active Rigs Up One -- December 11, 2018; Petro-Hunt With Huge 900K Well (Seven Years Old)

US crude oil weekly inventory numbers, API data: oilprice. I think this is the biggest draw I've ever seen in one week. It will be interesting to see what the EIA has to say tomorrow. Last week, the API reported a build of over 5 million barrels. A day later, the EIA had a completely contradictory report showing a 7.3-million-barrel draw. Today, from the API:

• an inventory draw of 10.18 million bbls
• forecast: a draw of 2.990 million bbls

*************************************************

Back to the Bakken

Active wells:

$51.97	12/11/2018	12/11/2017	12/11/2016	12/11/2015	12/11/2014
Active Rigs	65	52	40	65	186

Five new permits:

• Operators: Kraken Operating (4); Sinclair
• Fields: Sanish (Mountrail); Robinson Lake (Mountrail)
• Comments: Kraken has permits for a 4-well pad in 24-154-93; Sinclair's State well will be in section 36-154-93;

One producing well (DUC) reported as completed:

• 33905, 1,219, Petro-Hunt, USA 153-95-9A-4-1HS, Charlson, t10/18; cum 12K over 11 days which extrapolates to 33K over 30 days;
• neighboring wells: #32529 (SI/NC), #32530 (SI/NC), #32531 (SI/NC), #32532 (conf), and, #32533 (conf).
• far to the east in this section: 
• 20342, 1,430, Petro-Hunt, USA 153-95-4B-9-1H, t11/11; cum 900K 10/18, recent production:

  Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
  BAKKEN	10-2018	12	3261	3644	743	7087	5811	1197
  BAKKEN	9-2018	30	9277	9448	1985	16977	14265	2503
  BAKKEN	8-2018	31	9216	9040	2116	17960	17618	126
  BAKKEN	7-2018	31	9724	9873	2209	17890	17595	79
  BAKKEN	6-2018	30	10650	11102	2855	16461	16076	176
  BAKKEN	5-2018	31	11129	10573	2472	17002	16704	82
  BAKKEN	4-2018	30	11191	11390	2549	16514	15353	952
  BAKKEN	3-2018	31	11710	11530	2433	16543	16327	0
  BAKKEN	2-2018	28	11134	11230	2470	16231	15528	508
  BAKKEN	1-2018	31	12724	12821	2902	18163	17947	0
  BAKKEN	12-2017	31	13263	12940	2992	17633	17343	74
  BAKKEN	11-2017	30	13117	13454	3108	16769	8209	8351
  BAKKEN	10-2017	31	14439	14496	3282	19217	0	19001
  BAKKEN	9-2017	30	12674	12004	3682	16658	0	16477
  BAKKEN	8-2017	4	501	690	85	861	839	0
  BAKKEN	7-2017	31	5175	5311	460	8108	7892	0
  BAKKEN	6-2017	30	5032	5032	405	7302	6873	220
  BAKKEN	5-2017	31	5054	4857	418	8962	2717	6029
  BAKKEN	4-2017	30	5337	5609	527	8791	8522	60
  BAKKEN	3-2017	31	5706	5469	480	8972	8756	0
  BAKKEN	2-2017	28	5343	5422	447	8303	8108	0
  BAKKEN	1-2017	31	6618	6749	572	9321	9105	0

By the way, that area is also a great area for Madison wells; most of them are now abandoned.

However, Petro-Hunt is drilling a Madison well in the area:

• 28227, conf, Petro-Hunt, CMNU C-205X, Charlson, t--; cum --

CLR Reports Two Huge Thorvald Wells -- December 11, 2018

This page will not be updated. The CLR Thorvald wells are followed elsewhere.

Two Thorvald wells have recently come off the confidential list:

• 29711, 1,625, CLR, Cukelly 4-7H1, Rattlesnake Point, 62 stages; 12.2 million lbs, t6/18; cum 98K 10/18; note: the sundry forms with frack data has this as a middle Bakken well; in fact, it's a Three Forks B1 well;
  

  Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
  BAKKEN	10-2018	31	18296	18406	33503	34666	16080	18186
  BAKKEN	9-2018	30	17846	17855	36063	26368	16668	9339
  BAKKEN	8-2018	31	18712	18864	38741	25501	20110	5005
  BAKKEN	7-2018	19	13291	12882	29998	18026	4948	12834
  BAKKEN	6-2018	26	28624	28507	50102	39598	16325	22969

• 29710, 1,985, CLR, Thorvald 3-6H, Rattlesnake Point, 64 stages; 12 million lbs, t9/18; cum 40K 10/18; note: the sundry forms with frack data has this as a Three Forks B1 well; in fact, it's a middle Bakken well;

  Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
  BAKKEN	10-2018	17	13647	13728	21054	20815	6600	14215
  BAKKEN	9-2018	18	24898	24676	30738	41500	1063	40437
  BAKKEN	8-2018	0	0	0	0	0	0	0
  BAKKEN	7-2018	0	0	0	0	0	0	0

The Hess AN-Dinwoodie Wells In Antelope Oil Field

Updates

December 10, 2018: the Dinwoodie wells will now be tracked here. Production data has been updated. There is a rig on site and I assume the rest of the Dinwoodie wells are being fracked.

Original Post (from December 29, 2016)

Proposed location for a 5-well Hess AN-Dinwoodie pad:

*************************************

The AN-Dinwoodie Wells
Antelope-Sanish

The first one:

• 19887, 714, Hess, AN-Dinwoodie-153-94-2833H1, Antelope, Sanish pool, t7/11; cum 270K 2/20; off line since 1/19; back on line 6/19; from the file report, the geologist's notes: the Antelope field covers more than 76 square miles and produces from seven pools: Devonian, Madison, Red River, Sanish, Silurian, Stonewall, and Winnipeg/Deadwood. Sanish pool cumulative production totals from December 1953 through January 2011 is: 13,628,037 BO; 1,324,964 BW; and, 13,049,445 MCFG. Peak oil production occurred in 1966 with a maximum of 34 wells producing from the Sanish Pool during 1967 and 1968. Seventeen wells are currently producing from the Sanish pool in Antelope field.

The Devonian Three Forks formation and target zone: 11,262' MD (10,866' TVD). The top of the ideal preferred target zone is approximately 16' TST beneath the top of the Three Forks formation.

The target zone ... informally named "D" and "E" intervals...the lateral was drilled 100% within the upper portion of the Three Forks formation, with greater than 70% of the well bore to be completed within the ideal preferred target porosity. Drilled from re-entry to TD in 23.7 days; drilling along the the lateral was efficiently executed in two runs.

Then:

• 33238, 3,541, Hess, AN-Dinwoodie-153-94-2833H-8, API: 33-053-07890, Antelope, t4/19; cum 72K in less than 3 months; cum 196K 2/20;
• 33237, 900, Hess, AN-Dinwoodie-153-94-2833H-7, API: 33-053-07889, Antelope, t7/19; cum 47K 2/20;
• 33236, rig on site (10/18), 2,706, Hess, AN-Dinwoodie-153-94-2833H-6, API: 33-053-07888, Antelope, 70K in less than 3 months; t4/19; cum 175K 2/20;
  
• 33235, 2,154, Hess, AN-Dinwoodie-153-94-2833H-5, API: 33-053-07887, Antelope, t4/19; cum 115K 2/20;
• 33234, 2,471, Hess, AN-Dinwoodie-153-94-2833H-4, Antelope, API: 33-053-07886, t4/19; cum 110K 2/20;

• 32860, 2,708, Hess, AN-Dinwoodie-153-94-2833H-2, Antelope-Sanish, t10/17; cum 229K 2/20;
• 32861, 2,202, Hess, AN-Dinwoodie-153-94-2833H-3, Antelope-Sanish, t10/17; cum 289K 2/20;
• 32862, 1,952, Hess, AN-Dinwoodie-LE-153-94-2833H-8, Antelope-Sanish, t10/17; cum 277K 2/20; recently (6/19) back on line after being off line for five months;
• 19887, 714, Hess, AN-Dinwoodie-153-94-2833H-1, Antelope-Sanish, t7/11; cum 270K 2/20; no bump in production; off line as of 1/19; still no back on line as of 6/19;

The Market, Energy, And Political Page, Part 2, T+36 -- December 11, 2018 -- Shale Story Staggering

Wow, this is quite a story, from Bloomberg: US shale becomes oil industry's safe haven. I haven't read the article yet. Let's read it together. I'm curious if Bloomberg uses the new "catch phrase" for US shale: "short-cycle projects." Perhaps coined by Chevron?

From the linked article:

Big Oil is investing more in U.S. shale, not less, after the recent tumble in crude prices.
It’s a far cry from four years ago when OPEC declared war on American shale areas, which at the time had some of the highest costs anywhere in the world and were often the first on the chopping block during tough times.

The cost of shale production has fallen so much since then that it’s becoming a safe haven for major oil companies in times of volatile prices, providing rapid, reliable growth and quick returns even with crude trading for just over $50 a barrel, down by almost a third since the start of October.

The U.S. shale sector has helped boost American production to an average of 10.9 million barrels a day this year, the most on record. Output is forecast to grow a further 11 percent next year, according the Energy Information Administration.

ConocoPhillips said Monday it’s spending half its 2019 budget in the continental U.S., while Chevron Corp. is investing more at home than it’s done for more than a decade, with $3.6 billion going to the Permian Basin alone. Anadarko Petroleum Corp. and Hess Corp., both global operators, plan to increase spending on their American assets more than 40 percent.

So, far, "short-cycle' has not been used.

From Conoco's CEO:

Production growth “slows down at $50 but I don’t think it stops at $50, and it certainly continues if prices get back to $60,” Lance said. Skeptics thought shale “wouldn’t last long, but it’s here, it’s a huge resource and it’s going to be resilient and long lasting.”

Conoco alone will increase its shale production 25 percent next year, Lance said. That’s on top of growth of about 35 percent expected this year. The shale revolution is having a bigger impact on energy markets than the development of offshore production in the 1960s, he said.

Short-cycle? From Bloomberg, previously posted:

[Chevron's] Chief Executive Officer Mike Wirth’s decision to raise spending while oil is in free fall shows how the industry has become more comfortable operating at lower prices after cutting costs and shunning complex projects in recent years. But in March he pledged to keep annual budgets at no more than $20 billion for the next three years, about half the amount earmarked for 2014 when the company was overspending on gas projects in Australia.

“Our investments are anchored in high-return, short-cycle projects, with more than two-thirds of spend projected to realize cash flow within two years,” Wirth said in the statement.

Mike Filloon On The Permian -- December 11, 2018

Mike Filloon as a good article over at SeekingAlpha. He is exactly correct: the Permian bottleneck will continue as huge well results continue. Archived.

I don't follow the Permian very closely. But based on what the Bakken is doing, the Permian is going to blow folks away.

First of all, this pipeline problem. It's temporary. Free market capitalism will solve this problem sooner than later. I think there was even a post along that line not too long ago.

But based on the Bakken the Permian is going to surprise a lot of folks. The wells in the Bakken keep getting better and better; costs coming down; and, in fact, in the Bakken, less proppant than expected is being used, especially in the Three Forks.

Any question about the Bakken wells, just click on the "50K_Wells" tag and the "75K_Wells" tag.

I digress. From Mike Filloon and the linked article:

• Permian production continues to drive higher in the face of wide differentials and a pull back in oil prices.
• There are several ways to play this through E&Ps and pipelines, as the pullback in oil prices is overdone and take away capacity in on the way.
• PAA looks like a way to play the Permian pipeline build out, as it has significant exposure to the basin.
• CXO has 640,000 acres in the Delaware and Midland basins and continues to produce a large number of monster locations.  It provides a Permian focused operator with a large inventory of locations to complete.
• The market has been hit hard and many of the operators stock prices have suffered, but there seems to be value in the pullback. 

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here.

Huge Activity In Reunion Bay -- December 11, 2018

For newbies: these are incredible wells. There are scores (maybe, hundreds) of Bakken wells drilled before 2012 that have not yet produced 50,000 bbls of oil -- after eight years of production. The three Behr wells below each produced 50,000 bbls of oil in the first 35 days or so of production, some in less than 30 days. Two of them produced almost 100,000 bbls in the first two months of production.

You will also be surprised at the relatively low amount of proppant used. Frack data will be posted later.

Meanwhile, the Alfred Old Dog wells have been added to the list of wells that will need to be followed up.

**************************************

The Post

All nine of the Alfred Old Dog wells are off line; they have been off line for the past two months. These are huge wells and would not have come off line had there not been some neighboring activity.

So, let's look at the Alfred Old Dog area.

The graphic:

The new wells to the east:

• 30827, 1,740, WPX, Behr 19-18HT, Reunion Bay, Three Forks B1, t7/18; cum 115K 10/18:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2018	31	30625	30533	26641	38741	31595	3714
BAKKEN	9-2018	30	29482	29375	30696	37293	27420	6566
BAKKEN	8-2018	25	20837	20862	25629	26359	18988	5020
BAKKEN	7-2018	31	33593	33474	32297	42495	6217	32684
BAKKEN	6-2018	12	0	0	1	0	0	0

• 30824, 2,649, WPX, Behr 19-18HI, Reunion Bay, middle Bakken well, t7/18; cum 147K 10/18 (note: the legal name, "HI," not "H1").

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2018	25	14110	14187	9823	16000	7957	6414
BAKKEN	9-2018	30	31197	31184	12670	35378	17823	14064
BAKKEN	8-2018	31	43951	43958	17781	49840	28140	16840
BAKKEN	7-2018	31	57971	57765	38776	65740	10089	49448
BAKKEN	6-2018	12	0	0	1	0	0	0

• 31859, 2,776, WPX, Behr 19-18HUL, Reunion Bay, Three Forks B1, t7/18; cum 157K 10/18;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2018	22	24106	24027	18572	24974	20150	2141
BAKKEN	9-2018	30	32284	32275	27819	33446	27532	2310
BAKKEN	8-2018	31	45198	45259	42606	46825	26805	15026
BAKKEN	7-2018	31	55349	55212	67084	57341	1018	50401

Noble Energy Partners Has Purchased Working Interests In One Bakken Drilling Unit -- Press Release -- December 11, 2018

I am, either:

• ahead of my headlights; or, 
• showing my ignorance.

First the press release from a reader:

Noble Energy Partners has purchased working interests and overriding royalty interests in 13 Bakken and 2 Eagle Ford Shale horizontal wells and affiliated pipeline infrastructure. 

The thirteen Bakken wells are located in Mountrail County, North Dakota and are operated by EOG Resources. The 13 wells have a combined average daily production of 1,719 BOPD and 2,110 MCFD, across 1280 acres with an average depth of 20,000 feet.  

First some "safe" comments.

It's somewhat amazing this story made the news -- obviously the company can send out a press release but it doesn't mean anyone will see it. But in this case, the press release was seen.

Why is it amazing? At least to me? We are talking about one drilling unit in the Bakken: "across 1280 acres." Twelve-hundred-eighty acres is now the standard for drilling units in the Bakken.  So, NEP invested in one drilling unit?

The press release said the company has working interests and overriding royalty interests in the 13 wells in the Bakken but does not suggest they will be an operator.

Their website suggests that NEP focus is on  investing in niche sectors in midstream and upstream oil and natural gas pipelines.

Pipelines.

I was going to write more, but my editor suggests I hold off. We'll leave it at this for now.

I think the story speaks volumes. I'll leave it at that.

The Market, Energy, And Political Page, T+36 -- December 11, 2018 -- The "Bees" Take Control

Updates

December 21, 2018: they are reading the blog. The "three Bees take control."

Original Post

Beto is the man. Beto is the machine. Over at NBC News. MoveOn.org poll:

• Beto: 15.6%
• Biden: 14.9%
• Bernie: 13.1%

I can all but guarantee Beto won't play second fiddle to either Biden or Bernie. Or Hillary. Speaking of the pelagic politician, she was nowhere to be found on the list which follows:

The three men were followed by Sen. Kamala Harris, D-Calif., who garnered 10 percent support, Sen. Elizabeth Warren, D-Mass., with 6.4 percent. Meanwhile, Sens. Sherrod Brown, D-Ohio, Amy Klobuchar, D-Minn., Cory Booker, D-N.J., and former New York City Mayor Michael Bloomberg were each selected by about 3 percent of members.

But this is buried at the bottom: most popular, you ask? 

"Someone else / don't know / other": 28.8%. 

********************************

Wouldn't All That Money 

Be Better Spent On PREPARING For Global Warming?

From spglobal:  

A winter storm across the lower Atlantic that dumped nearly three feet of snow in some areas of the Carolinas caused widespread power outages, but the impact on other commodities was limited.

Natural gas demand for home heating spiked amid below-normal temperatures. However, that demand lift was partially offset by lower pull for power generation, with load down almost 10% from forecasted levels.

Saturday and Sunday's average real-time on-peak prices for the Dominion Hub were higher than last Saturday and Sunday's comparable numbers -- by about $1 and about $8, respectively, to around $40/MWh.

The County "Saves" Williston's DMV Branch -- December 11, 2018

Williams County to take over operations at Williston's branch of the DMV. Link here. The bigger story seems to be why the state decided to shut down the Williston branch. Be that as it may, the county stepped in to do the right thing.

Current Export Wave Could Become A Tsunami -- RBN Energy -- December 11, 2018

Factoid: China imports every day the equivalent of the entire production of the US. Or Saudi Arabia. Or Russia. In round numbers, China imports 11 million bopd. The US, Saudi Arabia, and Russia each produce about 11 million bopd. Now this: China's crude oil imports jump to record high in November, 2018.

Chinese crude oil imports surged to an all-time high of 10.43 million bpd (barrels per day) last month, up by 8.5 percent compared to November 2017 and beating the previous record of 9.61 million bpd, which was set just a month earlier and was driven by smaller independent refiners who were rushing to fulfill their 2018 oil import quotas before they expire. 

As recently as 2002, China was consuming less than 5 million bopd.

Mexico: to build a new refinery --

Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said Sunday at an event at the Dos Bocas port in Tabasco, even as the nation´s refining system is operating at its lowest levels in three decades.

Unveiling a plan for the nation’s refining system, Lopez Obrador said Mexico will invest $8 billion in the new processing facility at Dos Bocas.

Mexico’s oil production, on track for its 14th consecutive yearly decline, will rise "realistically" to 2.4 million barrels a day by 2024.

************************************

Back to the Bakken

Only one well coming off confidential list today -- Tuesday, December 11, 2018:

• 33892, SI/NC, Hess, SC-5WX-152-99-0310H-3, Banks, no production data, the SC-5WX wells are tracked here;

Active rigs:

$51.61	12/11/2018	12/11/2017	12/11/2016	12/11/2015	12/11/2014
Active Rigs	64	52	40	65	186

RBN Energy: reverse-lightering crude oil supertankers along the Gulf Coast.

There’s a reason why more than half a dozen midstream companies and joint ventures are clamoring to build deepwater loading terminals on the Gulf of Mexico: because it’s a major pain to load Very Large Crude Carriers (VLCCs) any other way. These days, the standard operating procedure for loading the vast majority of VLCCs along the Gulf Coast involves a complex, time-consuming and costly process of ship-to-ship transfers called reverse-lightering, in which smaller tankers ferry out and transfer crude to VLCCs in specified lightering areas off the coast. Today, we ponder the current dynamics for U.S. crude exports via VLCC. 

Even before the 40-year prohibition on most crude oil exports from the U.S. was lifted in December 2015, we were blogging about how an end to the export ban would help shape the landscape for U.S. crude production. In the past three years, the growth in export volumes has been stunning — from 590 Mb/d in 2016, on average, to 1.1 MMb/d last year and 1.9 MMb/d through October in 2018.

As the market looks to the immediate future, projections for rising crude production from the prolific Permian, Eagle Ford and SCOOP/STACK shale plays suggest that the export wave could soon look more like a tsunami, especially after a few new crude pipelines come online.