Two Wells Come Off The Confidential List Today -- August 12, 2019

Wells coming off the confidential list this weekend, Monday --
Monday, August 12, 2019: 14 for the month; 63 for the quarter:

• None.

Sunday, August 11, 2019: 14 for the month; 63 for the quarter:

• 35353, SI/NC, Hess, RS-State D-LN-155-92-0203H-1, Alger, no production data,
• 34888, 1,034, Bruin, Fort Berthold 147-94-2A-11-12H, McGregory Buttes, t3/19; cum 72K 6/19;

Saturday, August 10, 2019:

• None.

Active rigs:

$54.17	8/12/2019	08/12/2018	08/12/2017	08/12/2016	08/12/2015
Active Rigs	61	60	57	33	72

RBN Energy:what drive big propane price spreads?

For a few days in late July, the price differential between propane stored at Enterprise Products Partners’ salt caverns in Mont Belvieu, TX, and propane stored at facilities owned by others a few hundred yards away quickly widened to as much as 10 cents/gallon. That’s by far the biggest spread of its type we can recall, and while we can’t say for certain what caused the “Enterprise-vs.-others” propane differential to blow out, there’s a likely — and familiar — culprit: NGL infrastructure constraints.

Something else this unusual pricing event confirmed is that, no matter where the NGL storage, fractionation or pipeline constraint may occur, it almost always has an outsized effect on the much smaller NGL storage and fractionation hub in Conway, KS. What’s with that? Today, we look at the recent, rapid slide in propane prices at Enterprise’s Mont Belvieu storage facility and discuss what it tells us.