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:

$58.84	5/30/2019	05/30/2018	05/30/2017	05/30/2016	05/30/2015
Active Rigs	64	62	50	29	80

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.