TransMountain: Canada will announce its decision "next month." If as expected, Canada greenlights the pipeline, another year will be lost; they cannot lay the pipeline during the winter; this also gives the opposition six to nine months to prepare for organized protests; don't hold your breath on this one.
Anadarko: Chevron cedes the deal to OXY. Probably how it should have worked all the while. OXY and Anadarka had been in talks off and on for three years. Finally Chevron says "enough already." Makes a big with a consolation prize of $1 billion. OXY finally came to terms with Anadarko and Warren Buffett.
Jobless claims, link here:
- prior: 230K
- consensus: 215K
- actual: 228K
- change from previous week: down 2,000
- 34811, 685, Oasis, Aagvik 5298 41-35 15T, 50 stages; 3.96 million lbs, Banks, t11/18; cum 97K 3/19;
- 34751, 403, Lime Rock Resources III-A, LP, Schneider 11-33-28H-143-96, 50 stages; 5.9 million lbs; Fayette, t11/18; cum 41K 3/19;
- 34637, SI/NC, Slawson, Wolverine Federal 14-31-30TF2H, Elm Tree, no production data,
- 33938, drl, Petro Harvester Operating Company, LLC, PTL2 4-28 164-92 C, target: Madison, Portal oil field, some production reported;
- 33124, 1,344, Bruin E&P Operating, LLC, Fort Berthold 147-94-1B-12-13H, 55 stages, 14.4 million lbs; McGregory Buttes, t11/18; cum 107K 3/19;
- 32508, 380, BR, CCU Mainstreet 4-1-25MBH, 32 stages; 8.58 million lbs; Corral Creek, t3/19; cum --
Active rigs:
| $61.82 | 5/9/2019 | 05/09/2018 | 05/09/2017 | 05/09/2016 | 05/09/2015 |
|---|---|---|---|---|---|
| Active Rigs | 65 | 61 | 49 | 28 | 84 |
RBN Energy: Medallion's Midland crude oil header system and Delaware Express Shuttle.
Crude oil gathering systems are, by their very nature, growing and evolving things, especially in super-hot shale plays like the Permian. These systems typically sprout when economics and the expectation of growing production support the development of small-diameter pipeline networks to transport crude from the lease to takeaway pipes — reducing the need for truck deliveries in the process. They then are organically extended as drilling-and-completion activity expands into nearby areas. Over time, some crude gathering systems grow so large — and are so well interconnected with takeaway pipelines — that they become intra-basin header systems that allow shippers to move crude to many interconnection points, thereby providing the highest level of destination optionality. Today, we look at one such highly evolved gathering system — Medallion Midstream’s gathering/header network in the Midland Basin — and at other Medallion pipes that gather Delaware Basin crude oil.
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