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Thursday, May 30, 2019

Only One Well Coming Off Confidential List Today -- May 30, 2019

Rio Grande LNG project, update. Link here. Data points: 
  • Next Decade Corporation
  • Bechtel: awarded two contracts worth almost $10 billion
  • EP&C 
  • Brownsville, TX
  • first stage: three liquefaction trains; two 180,000 cubic meter storage tanks; two marine berths
  • each train: up to almost 6 million tons per annum
  • list of LNG export facilities at this post
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Back to the Bakken

Wells coming off the confidential list today -- Thursday, May 30, 2019: 95 for the month; 189 for the quarter --
  • 35242, SI/NC, WPX, Badlands 5-32-29HT, Heart Butte, no production data,
Active rigs:

$58.845/30/201905/30/201805/30/201705/30/201605/30/2015
Active Rigs6462502980

RBN Energy: US E&Ps cut costs in response to price decreases.
U.S. oil and gas producer share prices got a nice boost in mid-April from the Chevron/Occidental Petroleum bidding war for Anadarko Petroleum, which sold for more than a 40% premium to its price before Chevron’s opening bid. But the optimism was only temporary; the S&P E&P stock index has since retreated 13% to mid-February levels, during a month in which companies released their first quarter 2019 earnings reports. That suggests that, despite a 38% quarter-on-quarter increase in the pre-tax operating profit of the 44 E&Ps we track, investors found nothing in the first quarter results to dispel the generally negative sentiment that has hung like a dark cloud over the oil and gas industry since late 2014. Today, we analyze the first quarter financial performance of our 44 E&Ps and review the outlook for an industry ripe for further consolidation because of depressed equity valuations.

2 comments:

  1. (Meant analytically, not snarkily) The key fact in that LNG update is FID not done yet.

    ReplyDelete

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