Active Rigs At $61 -- No Wells Coming Off Confidential List Today -- August 8, 2019

No wells coming off confidential list today.

Brent: at $56.96. Saudi needs $60. Actually it needs $70. 

Active rigs:

$52.14	8/8/2019	08/08/2018	08/08/2017	08/08/2016	08/08/2015
Active Rigs	61	65	56	34	73

RBN Energy: assesing the impact of Plains' Sunrise crude pipeline expansion. Archived.

It’s been nine months since Plains All American’s Sunrise II crude oil pipeline started service out of the Permian to the Wichita Falls, TX, crude hub. In that time, it has transformed the balance of supply versus downstream takeaway capacity at Wichita Falls and become a critical conduit of Permian crude to the Cushing and Gulf Coast markets. What’s more, Plains is planning to build the Red Oak Pipeline from Cushing through Wichita Falls to the Gulf Coast in 2021, which will further solidify Sunrise II as an important outlet for Permian oil for some time. With two other new long-haul Permian crude pipelines — EPIC and Cactus II — days away from starting interim service to the Gulf Coast, an analysis of Sunrise II’s impacts thus far provides some clues as to how future expansions will reshape the region. Today, we discuss how Plains’ Sunrise II project has affected crude oil flows from the Permian to Wichita Falls, and from there to Cushing and the Gulf Coast, as well as what its role will be when Red Oak comes online.