Big Drop In WTI -- Now Below $58; RBN Energy Looks At The New Washington State Law Aimed At The Bakken -- May 29, 2019

Louisiana LNG: $1.3 billion project. Data link here:

• Calcasleu Pass LNG export facility
• Cameron Parish, LA
• 10-million tonne per annum 
• will use mid-scale, modularly, factory-fabricated liquefaction trains from Baker Huges, a GE company
• Stonepeak Infrastructure Partners will exclusively provide $1.3 billion equity investment in Venture Global LNG's venture
• total committed capital to fund construction now totals $2.2 billion
• more than $250 million has already been spent on preparation work

But there's more:

• Venture Global also anticipated FERC approval for its 20-mtpa Plaquemines LNG project along the Mississippi River near New Orleans

And, there's more:

• Venture Global has also proposed developing a second 20-mtpa facility, Delta LNG, nearby

The list: the list of potential US LNG export facilities is here.

Snarky: when I first posted that list, I vividly recall a reader writing me that just because something is proposed, doesn't mean it's going to happen. Whatever.  I'm now thinking that was an anonymous note from President Obama.

 

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Back to the Bakken

Wells coming off the confidential list after the long weekend and today -- Wednesday, May 29, 2019: 94 for the month; 188 for the quarter --

• 35378, SI/NC, Newfield, Skipjack 149-98-11-2-4H, Pembroke, no production data,
• 35096, 795, Liberty Resources Management Company, LLC, Stanley W 158-91-30-6-1MBHX, Kittleson Slough, t12/18; cum 67K 3/19;
• 34907, SI/NC, Hess, SC-JCB-LE-154-98-1720H-1, Truax, no production data,
• 34803, 1,299, Nine Point Energy, Erickson 155-102-26-25-6H, 60 stages, 10 million lbs, Squires, t12/18; cum 108K 3/19;
• 30485, 500, BR, Jerome 14-10MBH, North Fork, t4/19; no production data,

Tuesday, May 28, 2019: 89 for the month; 183 for the quarter --

• 35738, SI/NC, Newfield, Skipjack 149-98-11-2-12H, Pembroke, no production data,
• 35457, SI/NC, WPX, Minot Grady 26-35HWL, Squaw Creek, no production data,
• 34043, 484, Lime Rock Resources III-A, L.P., Harstad 44-9-2H, Stanley, t11/18; cum 38K 3/19;
• 30486, 178, BR, Merton 14-10MBH, North Fork, t4/19; no production data,

Monday, May 27, 2019:

• 35296, SI/NC, WPX, Minot Grady 2635HZ, Squaw Creek, no production data,
• 30487, 77, BR, Merton 14-10TFH ULW, North Fork, t3/19; no production data,

• the Merton wells are tracked here; 

Sunday, May 26, 2019:

• 35361, SI/NC, Hunt, Halliday 146-92-19-18H-6, Werner, no production data,

Saturday, May 25, 2019:

• 35298, SI/NC, WPX, Minot Grady 26-35HD, Squaw Creek, no production data,
• 35297, SI/NC, WPX, Minot Grady 26-35HZ, Squaw Creek, no production data,
• 34906, SI/NC, Hess, SC-JCB-154-98-1720H-9, Truax, no production data,

Active rigs:

$57.22	5/29/2019	05/29/2018	05/29/2017	05/29/2016	05/29/2015
Active Rigs	64	65	50	29	80

RBN Energy: will a new Washington State law hurt Bakken crude oil producers? Archived.

Refineries in Washington state have been reliable buyers of Bakken-sourced crude oil during the Shale Era, receiving an average of about 145 Mb/d — all of it by rail — over the past two-plus years. But a newly approved Washington law slashing the allowable vapor pressure limit for crude being unloaded from rail tank cars could hinder future growth in crude-by-rail shipments from North Dakota to the Evergreen State, or force Bakken producers to remove more butane and other “light ends” from the crude oil they rail west. It’s such a big deal that the state of North Dakota has indicated it will file suit to kill the new law. Today, we discuss Washington’s new law and its potential effects on Bakken crude oil producers.