Monday, July 8, 2019: 6 for the month; 6 for the quarter;
- None.
- 35543, SI/NC, WPX, Delores Sand 29-32HIL, Antelope, no production data,
- 34094, 2,479, CLR, Colter 7-14H, 37 stages, 10.2 million lbs, Bear Creek, t3/19; cum 125K in three months, the Colter wells are tracked here:
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 5-2019 30 39507 39583 26042 46377 45448 558 BAKKEN 4-2019 26 30290 30623 26879 33525 27880 5340 BAKKEN 3-2019 31 53651 52963 75523 63337 59453 3481 BAKKEN 2-2019 2 925 925 860 1410 1386 24 BAKKEN 1-2019 4 907 907 2443 1558 0 1558
- None.
$57.76 | 7/8/2019 | 07/08/2018 | 07/08/2017 | 07/08/2016 | 07/08/2014 |
---|---|---|---|---|---|
Active Rigs | 58 | 64 | 56 | 30 | 191 |
RBN Energy: why build an ethane steam cracker in a time of low ethylene margins?
The margin for producing ethylene by steam-cracking ethane has been less than a dime per pound since mid-March 2018, and less than a nickel for nearly nine of the past 15-and-a-half months. In fact, for two weeks last September, the ethylene-from-ethane margin fell below zero. And yet, a joint venture of two of the world’s savviest companies — energy giant ExxonMobil and petchem behemoth Saudi Basic Industries Corp., or SABIC — recently committed to building what will be the world’s largest ethane steam cracker: a 4-billion-pounds/year facility to be constructed near Corpus Christi by 2022. Is this a case of blind optimism? No, not when you factor in the cracker’s location, the JV’s concurrent plan to construct two polyethylene plants and a monoethylene glycol plant right next door, and the co-developers’ global market reach. Today, we discuss the thinking behind ExxonMobil and SABIC’s big investment in Texas’s San Patricio County.
The Shale Revolution and the resulting rise in U.S. production of crude oil, natural gas and natural gas liquids (NGLs) have been the catalyst for many things. Refinery retrofits to allow more light-sweet shale crude to be processed. Liquefaction plants and LNG export terminals — new crude and LPG export infrastructure too. A slew of new natural gas-fired power plants, accelerating the retirement of coal generators. And, as we’ve discussed at least a few times in the RBN blogosphere, a long list of new, mostly ethane-only steam crackers — almost all of them along the Gulf Coast — to take advantage of the humongous volumes of ethane and other NGLs emerging from wells in the Permian, Eagle Ford, SCOOP/STACK, Marcellus/Utica and other shale plays.
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