Steady Eddy -- January 11, 2019

Permian pipeline open season kicks off -- Rigzone.

WhiteWater Midstream, LLC (WWM) launched a binding open season Wednesday for its proposed Steady Eddy natural gas pipeline in the Permian Basin.

The 23-mile intrastate project would entail constructing a 24-inch diameter gas pipeline and metering stations from near Loving in Eddy County, NM to northern Culberson County, TX.

"Intrastate"? Wouldn't that be an "interstate" project -- NM to TX?

The approximately 500,000 million British thermal unit per day-capacity pipeline would link multiple receipt points in Eddy County to at least one delivery point in Culberson County.

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Norwegian Production Cut

Could this be adding to the bullish trend for oil? Link here to the Bloomberg story.

Norway’s oil regulator reduced its forecast for production this year, predicting crude output could drop to the lowest in three decades before recovering in 2020.

Oil output of 82.2 million cubic meters, or 1.42 million barrels a day, would be the lowest since 1988.

The forecast compares to actual production of 86.2 million last year, and is down from an earlier estimate of 87.2 million.

Oil output was affected by new developments becoming more complex than anticipated and that fewer than expected wells have been drilled.

Delays and issues on new projects in 2018 would continue to affect output this year, forcing a reduction in the production forecast.

Doesn't amount to a hill of beans in the big scheme of things, but it is what it is.