Hess With Three New Permits -- May 14, 2019

WTI: saber-rattling continues in the Mideast, and WTI barely moves.

Deadline: tomorrow, May 15, 2019 -- a reader brought this to my attention -- one of many links here:

• New England
• National Grid needs access to more natural gas if growth is to continue
• access to more natural gas hinges on permits for pipelines
• National Grid says it will put the moratorium on hookups back in place if the permits are not approved
• affects Westchester County, NYC, Long Island
• directly from the article:
• the problem stems from three things: significant growth in natural-gas demand created by the current development boom, increased demand from existing buildings converting to gas from dirtier energy sources such as heating oil, and more extreme heating needs as climate change brings more extremely cold winter days. 
• no new pipeline has been approved since 2013
• at the link, the writer proposes the equivalent of President Carter's solution: wear sweaters in the winter

Too big to fail: international banks re-new terms on Mexico's debt.

• US banks: HSBC, JP Morgan, Mizuho Securites
• extend maturity of a $5.5 billion loan by two years
• will refinance $2.5 billion in existing debt
• business as usual
• the tea leaves suggest that Mexico is on the road to Venezuala
• Mexico says it will use the money to boost oil production in aging fields
• a bit of smoke-and-mirrors: migration from legacy assignment titles to production sharing agreements even though the current president has suspended all contracts signed by the previous administration "pending review"
• Mexico recently announced a lifeline of almost $4 billion for heavily-indebted Pemex
• Pemex production: 
• 2013: 2.522 million bopd
• 2017: 1.948 million bopd
• 2018: 1.813 million bopd
• goal: 2.522 million bopd by the end of AMLO's "term" in office

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Back to the Bakken

Active rigs:

$61.71	5/14/2019	05/14/2018	05/14/2017	05/14/2016	05/14/2015
Active Rigs	65	60	51	27	83

Three new permits:

• Operator: Hess
• Field: Manitou (Mountrail County)
• Comments: Hess has permits for a 3-well EN-Ruland pad in lot 1 / section 4-155-94

That was all.