Eight Wells Coming Off The Confidential List -- September 3, 2019

Wells coming off the confidential list over the long Labor Day weekend -- 
Tuesday, September 3, 2019: 8 for the month; 140 for the quarter

• 35225, SI/NC, Hess, BB-Federal A-LS-151-95-0915H-3, Blue Buttes, no production data,
• 34755, SI/NC, MRO, Higgins 31-26TFH, Killdeer, a DUC, but produced 10,437 bbls over 5 days which extrapolates to 62,622 bbls over 30 days;

Monday, September 2, 2019: 6 for the month; 138 for the quarter

• 36089, SI/NC, WPX, Ruby 31-30HEL, Antelope-Sanish, a DUC, but produced 21K bbls over 17 days;
• 34226, 585, Oasis, Nelson 5298 11-4 2TX, Banks, t3/19; cum 98K 7/19;
• 24018, SI/NC, Slawson, Wolverine Federal 7-31-30TFH, Elm Tree, no production data,

Sunday, September 1, 2019: 3 for the month; 135 for the quarter

• 35226 , SI/NC, BB-Federal A-LS-15-95-0915H-2, Blue Buttes, no production data,
• 34756, SI/NC, MRO, Snider 41-26TFH, a DUC, but produced 12K over 8 days;
• 34304, SI/NC, XTO, Rougth Federal 44X-23C, North Fork, no production data,

Saturday, August 31, 2019: 0 for the month; 132 for the quarter

• None. (There was no February 31) 

Active rigs:

$53.75	9/3/2019	09/03/2018	09/03/2017	09/03/2016	09/03/2015
Active Rigs	64	63	56	33	75

RBN Energy: with new pipeline capacity, Permian oil and gas prices ascend the basis cliff.

Battered by a flood of new supply and limited pipeline takeaway capacity, prices for Permian natural gas and crude oil have spent a lot of time in the valley over the past 18 months. West Texas Intermediate (WTI) crude oil prices at the Permian’s Midland Hub traded as much as $20/bbl less than similar quality crude in Houston last year. That’s a big oil-price haircut that producers have had to absorb while ramping up production. However, the collapse in the Permian crude oil differential was tame compared to what happened with Permian natural gas prices. Prices at the Waha Hub in West Texas traded as low as negative $5/MMBtu, a gaping $8/MMBtu discount to benchmark Henry Hub in Louisiana. As bad as that all was, new pipeline takeaway capacity has arrived, and Permian prices are beginning to claw their way out of the depths. Today, we look at how new pipelines are impacting the prices received for Permian natural gas and oil.