Pages

Thursday, August 1, 2019

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.

 *****************************************
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:

$57.728/1/201908/01/201808/01/201708/01/201608/01/2015
Active Rigs5863603474

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.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.