Two Wells Coming Off Confidential List; ND Rigs Below 60; And WTI At $58 -- September 24, 2019

Flashback, three years ago: the Bakken oil production decline officially begins. From S&P Global Insight, February 19, 2016. 

For months, analysts have said that reports of the death of the Bakken oil boom have been greatly exaggerated.

But the long-awaited drop in Bakken production may have officially begun, as data released by North Dakota’s Department of Mineral Resources this week shows.
Daily oil production averaged just over 1.15 million b/d in December, down 29,506 b/d, or 2.5%, from the previous month.

It marks the lowest daily production level in the state since August 2014 and the first real downturn in statewide oil supply caused by the persistent dip in prices.

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Back To The Present

Three new "technologies" in the Bakken, link here:

• gas lift
• automated directional drilling
• re-fracking with new completion strategies

Other data points from same link:

• more than 60 operators in the Bakken
• they have moved beyond the phase of establishing position, and we are moving into the phase of optimizing and improving our positions.”

Wells coming off the confidential list today -- Tuesday, September 24, 2019: 61 for the month; 193 for the quarter:
35703, conf, Petroshale, Thunder Cloud 2MBH, 
34824, conf, Nine Point Energy, Eckert Foundation 152-102-22-15-6H,

Active rigs:

$58.03	9/24/2019	09/24/2018	09/24/2017	09/24/2016	09/24/2015
Active Rigs	59	64	57	33	70

RBN Energy: the halting progress of US LNG export projects, part 2. Archived.

There’s a tough race underway among U.S. LNG developers jockeying for position in the global LNG market. U.S. supply growth has spurred the development of more than two dozen LNG export projects, the bulk of them along the Texas/Louisiana Gulf Coast. But regulatory bottlenecks and deepening oversupply conditions in international markets are creating strong headwinds and slowing the momentum for some of these massive projects, making it harder and harder for them to reach the regulatory and commercial milestones they need to pass before they can progress to the construction phase. That said, several projects have eked out big wins in recent weeks, including Tellurian’s $7.5 billion memorandum of understanding with India’s Petronet LNG Ltd for its Driftwood LNG project, signed just this past weekend, and LNG Ltd.’s 2-MMtpa sales and purchase agreement for its Magnolia LNG, inked early last week. Today, we provide highlights of recent regulatory and commercial developments that are pacing the proposed export capacity additions.