Four Wells Coming Off The Confidential List Today -- May 21, 2019

Export terminal, Texas: firm asks for fast-track approval for a new US crude export facility that could fully load supertankers. Link at Reuters.  Data points:

• Lone Star Ports, LLC
• backed by the Carlyle Group LP
• $400 million project to dredge a portion of the Corpus Christi, TX, ship channel to 75 feet 
• $625 million for the entire project
• VLCC: 2 million bbls of crude oil
• will file paperwork with the administration’s Federal Permitting Improvement Steering Council to join a list of infrastructure projects that U.S. officials hope to ease through federal, state and local reviews 
• looking to file an environmental assessment in lieu of an environmental impact statement, the "assessment" can take as little as a few months vs years for an EIS

WTI: pre-market trading, $63.70.

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Back to the Bakken

Wells coming off the confidential list today -- Tuesday, May 21, 2019:
35582, conf,  XTO, Halverson 13X-33H, Capa,
35269, conf, Petroshale, Bear Chase 1MBH, Spotted Horn,
35150, conf, XTO, Bullberry Federal 24X-2H2, Lost Bridge,
31562, conf, Slawson, Submariner Federal 3-23-20H, Big Bend,

• the Submariner Federal wells are tracked here;

Active rigs:

$63.70	5/21/2019	05/21/2018	05/21/2017	05/21/2016	05/21/2015
Active Rigs	66	61	51	25	82

RBN Energy: is the next crude oil bottleneck at the Gulf coast? Archived.

When it comes to getting crude oil to market, bottlenecks have always existed. Back in 2013-15, producers and shippers in the Rockies faced a serious lack of takeaway options. Midstreamers saw the problem and the money to be made, and quickly built more crude-by-rail capacity — and, over time, pipeline capacity — to fix things. Recently, major takeaway constraints emerged in the Permian, much to the detriment of netbacks at the wellhead. There was real concern for a few months that some producers might need to shut in production as there wasn’t any way to get incremental barrels out of the basin. Again, traders and midstream operators got savvy, restarted some dormant crude-by-rail options, initiated long-haul trucking out of Midland, and added more pipe capacity. But what if the next big bottleneck isn’t between two land-based trading hubs? What if there’s not enough export capacity at terminals along the Gulf Coast, the gateway to international markets? In today’s blog, we examine recent export and production trends, and discuss what those could mean for export infrastructure and logistics over the next five years.

See related analysis at this post from yesterday.