Monday, July 15, 2019

Seven Wells Coming Off Confidential List -- July 15, 2019

Director's cut, May, 2019, data, is scheduled to be released later today. The April, 2019, data was posted here. The number I will be watching: crude oil production --
  • all-time high, January, 2019: 1,403,808 bopd
  • April, 2019, preliminary crude oil production: 1,390,138 bopd
  • projected final crude oil production number for last month: 1,392,810 (if so it was an increase in production month-over-month (April over March, 2019)
Wells coming off the confidential list today, over the weekend -- Monday, July 15, 2019: 22 for the month; 22 for the quarter;
  • 35525, SI/NC, MRO, Hayes 14-31H, Killdeer,
  • 34354, 2,485, CLR, Hawkinson 16-22HSL 1, First Bench Three Forks, 37 stages; 16 million lbs, Oakdale, t2/19; cum 94K in less than 3 months;
  • 34352, 2,698, CLR, Morris 5-23H2, Second Bench Three Forks, 41 stages, 11.3 million lbs; Oakdale, t4/19; cum 85K in 28 days;

Sunday, July 14, 2019: 19 for the month; 19 for the quarter;
  • 35526, SI/NC, MRO, Gwen 44-36TFH, Killdeer,
  • 31805, SI/NC, EOG, Riverview 25-3031H, Clarks Creek,
Saturday, July 13, 2019: 17 for the month; 17 for the quarter;
  • 35081, 3,556, CLR, Carson Peak 8-35H2, Second Bench Three Forks, 52 stages; 14.2 million lbs; Oakdale, t5/19; cum 116K in 46 days;
  • 31806, SI/NC, EOG, Riverview 24-3031H, Clarks Creek,
The EOG Riverview wells in Clarks Creek are tracked here, but have not been updated in the past few months.

Active rigs:

Active Rigs5667582973

RBN Energy: where US exports of butane and natural gasoline end up.
When it comes to U.S. NGL exports, propane and ethane grab most of the attention. Each accounts for a big share of the typical NGL barrel, and ethane exports are a frequent topic of conversation because of the potential for growth — especially if the U.S. and China find a way to end their trade war. But three other so-called NGL “purity products” — normal butane, isobutane and natural gasoline — are being exported in increasing volumes too, providing important supplemental revenue to NGL producers and marketers. What’s their story? Today, we look at the export volumes and destinations of three often overlooked purity products.
Propane and ethane are the BeyoncĂ© and Jay-Z of NGL purity products — they’re always in the spotlight — while normal butane, isobutane and natural gasoline are backup singers, almost always in the shadowy background. No matter the NGL, though, the name of the game nowadays is exports — thanks to the Shale Revolution, the U.S. produces far more purity products than it consumes, and exports (whether by pipeline or ship) are needed to keep markets in balance. 
Propane export volumes have risen from less than 100 Mb/d 10 years ago to ~1 MMb/d in recent months (and to nearly 1.2 MMb/d in June 2019. We also said that further gains in propane exports are likely into the 2020s as U.S. NGL output continues to rise and domestic demand for propane remains close to flat on an annual basis. Last month we looked at ethane exports (first by pipeline to Canada, and later by ship to other countries), which rose from next to nothing in 2014 to an average of more than 260 Mb/d in the first four months of 2019. Ethane, like Jay-Z (rapper, entrepreneur, recording executive), is in a category of its own, in that it can be “rejected” into natural gas for its Btu content and otherwise has only niche markets in the U.S. and overseas — namely, as a feedstock for steam crackers.

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