Two Wells Coming Off Confidential List Today; Bakken NatGas To Chicago -- RBN Energy -- August 1, 2019

Glut: OPEC sees oil surplus in 2020 admid shale surge. -- Rigzone. 

• OPEC forecasts:
• world demand for crude oil rising by 1.4 million bopd in 2020
• world demand for crude oil flirting with the 100 million b/d threshold
• OPEC will grow production by 2.4 million bopd
• EIA now says US shale production will not grow as fast as originally forecast
• US oil production should rise by 1.36 million bopd to 12.32 million bopd
• about 140,000 bopd less than original forecast

Oil tankers vanish. From Bloomberg. Don Lemon, CNN, speculates on whether a "black hole" could be in play. The funny thing: The Atlantic Monthly took him seriously. An Ivy League researcher stepped out on a limb when he/she suggested that possibility was "unlikely." Apparently "unlikely"  has different connotations among Ivy League researches than guys like me.

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Back to the Bakken 

Wells coming off confidential list today -- Thursday, August 1, 2019: 2 for the month; 51 for the quarter;

• 34941, SI/NC, Hess, EN-Kulczyk-154-94-2029H-2, Alkali Creek, no production data,
• 34176, IA/795, CLR, Ravin 8-1H2, Dimmick Lake, t--; cum --;

Active rigs:

$57.72	8/1/2019	08/01/2018	08/01/2017	08/01/2016	08/01/2015
Active Rigs	58	63	60	34	74

RBN Energy: Bakken gas muscling out western Canadian supply from Chicago market. Archived.

The battle between Bakken and Western Canadian natural gas supplies for the Chicago market seems to be advancing toward a final showdown of sorts. Associated gas production from the crude-focused Bakken has been rising sharply, but capacity on the Bakken’s two gas takeaway pipelines — Northern Border and Alliance, also utilized by Western Canadian Sedimentary Basin (WCSB) supplies — has been maxed out for a few years now. The result is that Bakken gas is increasingly encroaching on — and pushing back — imports from the WCSB. Bakken gas flows already overtook Canadian gas receipts on Northern Border a year ago. Since then, the gas-on-gas competition and the resulting pipeline constraints have escalated, and things are likely to get worse. Today, we break down the forces at play in the competition for market access.