Remember This Number: 620,000 -- May 1, 2019

620,000.

That's the number of miles of new oil and gas wells that will be drilled over the next five years.

Source: Rystad Energy, via Rigzone.

Number of wells, onshore / offshore, globally, to be drilled this year (2019): 65,000.

Number should be stable though 2023.

Off-shore: number of operators is now more diverse than ever.

From the linked article:

Earlier this month, Rystad Energy revealed that free cash flow for public exploration and production companies “skyrocketed” last year to almost $300 billion.

“For these players, 2019 could turn out to be another blockbuster year,” Rystad Energy said in a company statement at the time.

Miles to the moon: 238,900 miles

Round trip, or as they say in the UK, "return": 477,800 miles.

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OPEC, Russia Not Listening To Trump

Link here: ROPEC "defy" Trump's push for lower oil prices.

I don't know: $63/bbl seems pretty reasonable.

From Russia With Love, Matt Monro