Back To 60 Active Rigs -- WTI Back To $55 -- August 6, 2019

Wells coming off the confidential list today -- Tuesday, August 6, 2019: 10 for the month; 59 for the quarter;

• 34938, SI/NC, Hess, EN-Kulczyk-154-94-2029H-11, Alkali Creek, no production data, -- I wonder if "Kulczyk" rhymes with "kill jack"?
• 34887, 1,885,  Bruin, Fort Berthold 147-94-2A-11-11H, McGregory Buttes, t3/19; cum 86K 6/19;

Active rigs:

$55.26	8/6/2019	08/06/2018	08/06/2017	08/06/2016	08/06/2015
Active Rigs	60	64	58	34	75

RBN Energy: NGL storage alternatives in coastal Texas.

Rising U.S. production of NGLs and so-called “purity products” like ethane and propane, as well as growth in steam cracker capacity and NGL and ethylene exports, are giving added importance to NGL and ethylene storage capacity in underground salt caverns along the Gulf Coast. Mont Belvieu, TX, has long been the epicenter of both fractionation and salt-cavern NGL storage — and it will remain so — but there are other areas along the Texas coast with frac capacity and NGL storage, as well as steam crackers and export docks. The questions now are, is there enough in the right locations, and can what’s stored there be received and quickly sent out? Today, we begin a look at existing and planned NGL storage facilities along the Texas coast that are not in Mont Belvieu.

Increased production of crude oil and natural gas in a number of major U.S. shale plays has resulted in higher and higher production of mixed NGLs — also known as y-grade. We have chronicled these gains in a number of RBN blogs, where we noted that in 2019, produced volumes of NGLs (not counting ethane that is “rejected” into natural gas) are approaching 5 MMb/d — roughly double their level back in 2012 — and production is expected to increase by another 1 MMb/d by the mid-2020s.