- Permian recently gained four frack spreads; now at 147
- total number of frack spreads in the US: 452, up 11 week-over-week
- frack spread is diverging from the rig count
- [rig counts don't matter]
- reported yesterday -- EIA expects Permian production to hit 4 million bopd
- at 4 million bopd, more than four times the volume of daily output in 2017
- almost equal the amount of crude oil the US is now exporting -- 3.7 million bopd
- just ten percent growth will "require massive amounts of investment" -- Equinor
- even if faux environmentalists enact "the two-degree climate target" projections for gas demand growth won't change much
Whoo-hoo! Baby's got shoes! SRE increases dividend by 8.1%. Wow. From 89.5 cents/share to 96.75 cents/share. Forward yield: 3.29%. Better than what the German banks are paying.
And there's more: Enbridge has started service on Crossing Pipeline -- data points:
- 165-mile pipeline
- natural gas from Agua Dulce (sweet water) hub near Corpus Christi, TX, to folks on the south side of the Mexican border
- $1.5 billion pipeline
- 2.6 billion cfd of natural gas (40,000 boepd)
- joint venture, TransCanada, Sempra Energy, completed the Sur de Texas-Tuxpan Pipeline earlier this month (February, 2019)
*****************************
Back to the Bakken
Wells coming off confidential list today -- Friday, February 22, 2019: 90 wells for the month; 193 wells for the quarter
- 33204, SI/NC, Petroshale, Petroshale US 13H, Antelope-Sanish;
- 30539, SI/NC, Slawson, Badger 1 SLH, Big Bend,
- 22747, SI/NC, Enerplus, Arnica 149-93-21B-22H TF, Mandaree,
$57.69 | 2/22/2019 | 02/22/2018 | 02/22/2017 | 02/22/2016 | 02/22/2015 |
---|---|---|---|---|---|
Active Rigs | 66 | 56 | 43 | 39 | 127 |
RBN Energy: last resort -- Canada's east coast Sable natural gas production is no more. Part 1. Archived.
After 19 years of natural gas production from the waters off the Canadian Maritime provinces, ExxonMobil, operator of the Sable Offshore Energy Project, shut down production there effective January 1, 2019. Though the closure had been announced well in advance, the end of SOEP output has left the two natural gas-consuming provinces in the region, New Brunswick and Nova Scotia, without any indigenous gas supplies. It’s also made them fully reliant on either pipeline gas from the U.S. Northeast or imported volumes of LNG into the Canaport Energy terminal in New Brunswick. Will the shutdown put even more stress on the already overtaxed gas pipeline system in New England? And will it spur increased flows of Western Canadian gas into northern New England and the Maritimes? Today, in Part 1 of this blog series, we begin an examination of the potential impacts of SOEP’s demise on New England and Eastern Canadian gas markets.
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