Eleven Wells Reporting Today; No DUCs -- March 11, 2019

Wells coming off the confidential list today -- Monday, March 11, 2019: 38 wells for the month; 258 wells for the quarter

• 34823, 1,139, CLR, Vatne 7-25H, Hamlet, t9/18; cum 66K 1/19;
• 34822, 845, CLR, Rosenquist 7-24H, Hamlet, t9/18; cum 61K 1/19;
• 34733, 2,502, CLR, Pasadena 9X-11H, Banks, t11/18; cum 86K 1/19;
• 34732, 2,008, CLR, Pasadena 8X-11H1, Banks, t11/18; cum 54K 1/19;
• 33834, 706, Oasis, Berquist 5298 13-27 6T, Banks, t9/18; cum 90K 1/19;

Sunday, March 10, 2019: 33 wells for the month; 253 wells for the quarter

• 33536, 2,221, CLR, Holstein Federal 16-25HSL, Elm Tree, t1/19; cum 25K 1/19;
• 30367, 2,318, CLR, Brandvik 7-25H2, Corral Creek, 82 stages, 10.1 million lbs, t1/19; cum 44K 1/19; see this post;
  

Saturday, March 9, 2019: 31 wells for the month; 251 wells for the quarter

• 33670, 851, Enerplus, Bloosbury 150-94-05BH, Spotted Horn, t9/18; cum 68K 1/19;
• 33663, 142, Enerplus, Speedy 150-94-05BH TF, Spotted Horn, t9/18; cum -- ;
• 33662, 1,223, Enerplus, Berkeley 150-94-05BH, Spotted Horn, t9/18; cum 97K 1/19;
• 33660, 145, Oasis, Berquist 5298 11-27 3T, Banks, 50 stages; 4.1 million lbs, t9/18; cum 78K 1/19; see this post;
  

Active rigs:

	3/11/2019	03/11/2018	03/11/2017	03/11/2016	03/11/2015
Active Rigs	66	59	45	32	112

RBN Energy: part 2, New England and Maritimes in new battle for natural gas supply. Archived.

After 19 years of natural gas production from the waters off the Canadian Maritime provinces, ExxonMobil, operator of the Sable Offshore Energy Project (SOEP), shut down production there, effective January 1, 2019.

The closure further limits gas supply options for the already supply-constrained Maritimes and New England regions. 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 Canada’s Maritime provinces?

Today, we continue our series examining the potential impacts of SOEP’s demise on New England gas markets.

Previously, we reviewed the shutdown of SOEP on New Year’s Day 2019. Originally intended as a stepping stone to a much larger offshore gas supply presence, SOEP and its little brother, Deep Panuke, eventually went into terminal decline, and with no further commercial discoveries of natural gas reserves in the region, water encroachment, economics and declines sealed their fates.

Although SOEP was producing just 60 MMcf/d of natural gas in its final month of production (December 2018), the end of this supply has two major implications. The first is that the provinces of Nova Scotia and New Brunswick, which were already fairly isolated in terms of gas supply, now only have two remaining supply options: piped imports from the U.S. via the Maritimes & Northeast Pipeline and LNG imports from the Repsol-operated Canaport LNG import terminal in New Brunswick.

The second implication is that New England, which itself lacks sufficient pipeline connectivity, will increasingly be competing with Eastern Canada for supply, particularly in the winter months, when demand is highest.

RBN Energy needs to provide a 30-second elevator speech for their daily posts. Huge amount of interesting information but it takes an hour to go through it if one wants to find the salient points. Salient? Whatever.