US jobless claims: pending
- prior (revised): 218K (219K)
- consensus: 216K
- actual: 222K
- Venezuela
- Saudi Arabia
- Canada
- Iran
- Iraq.....
- ....US
- US: 293 billion bbls of recoverable oil resources
- Saudi Arabia: 273 billion bbls
- Russia: 193 billion bbls
- Rystad's US estimate is 5x more than the reported proven reserves published in the BP Statistical Review of World Energy 2019
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Back to the Bakken
Updates
September 15, 2015: IPs and production data for the Hess wells below at this post.
Original Post
- 34935, SI/NC, XTO, Darlean 41X-2H, Alkali Creek, no production data,
- 34864, 3,659, Hess, BB-Eide-151-95-3328H-10, Blue Buttes, t7/19; cum 45K over 28 days;
- 34863, 3,382, Hess, BB-Eide-151-95-3328H-9, Blue Buttes, t7/19; cum 57K over 31 days;
For some time, U.S. motor fuel exports to Mexico had been increasing at a healthy pace, reliably filling the void created by a series of production setbacks at Pemex’s refineries south of the border.
From 2014 to 2018, U.S. gasoline exports to Mexico soared by more than 160%, from an average of 197 Mb/d five years ago to 517 Mb/d last year. Diesel exports rose by nearly 130%, to 279 Mb/d, over the same period. But that export-growth momentum has since sagged — in fact, export volumes for both gasoline and diesel actually declined in the first few months of 2019, primarily due to logistical challenges within Mexico.
Also, Mexico’s new president has proposed ambitious plans to boost state-owned Pemex’s refining capacity, possibly posing a longer-term threat to U.S. exporters. So, is the boom in refined-product exports to Mexico over? Today, we examine what’s behind the downshift, and what the Mexican government’s effort to reinvigorate Pemex’s existing refineries — and build an entirely new one — may mean for U.S. gasoline and diesel exports in the 2020s.The stories coming out of Mexico will be a lot of white noise, as they say. The big story is that Mexico is clearly headed down the same road as Venezuela. Whether they reverse course or not is the bigger story.
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