Nine Wells Coming Off Confidential List -- October 7, 2019

John Svedrup: this is pretty cool. I link/track the John Svedrup at the sidebar at the right. This giant field goes into production today.  Data points:

• Equinor
• output start-up two months ahead of schedule
• came in $4.3 billion below original estimates
• recoverable reserves of 2.7 billion boe
• at plateau, will produce up to 60,000 bopd
• will account for one-third of Norway's production
• peak oil? what peak oil?
• all that hand-wringing over lack of offshore E&P?

Vietnam: positioning itself as SE Asia's top polymers hub; benefits from US-China trade war. At ArgusMedia.

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Back to the Bakken

Wells coming off confidential list over the weekend, today -- 
Monday, October 7, 2019: 24 for the month; 24 for the quarter:

• 35653, SI/NC, WPX, Bird Bear 35-26HW, Spotted Horn, no production data,
• 35652, SI/NC, WPX, Bird Bear 35-26HA, Spotted Horn, no production data,

Sunday, October 6, 2019: 22 for the month; 22 for the quarter:

• 35651, SI/NC, WPX, Bird Bear 35-26HS, Spotted Horn, no production data,
• 35650, SI/NC, WPX, Bird Bear 36-25HB, Spotted Horn, no production data,
• 34968, 1,905, CLR, Rader 10-24H, Avoca, t7/19; cum 64K 8/19;
• 34908, 916, Nine Point Energy, Eckert Foundation 152-102-22-15-8H, Elk, t4/19; cum 108K 8/19;

Saturday, October 5, 2019: 18 for the month; 18 for the quarter:

• 35348, 1,478, CLR, Sorenson 11-16H, Alkali Creek, t4/19; cum 75K 8/19;
• 35347, 1,974, CLR, Sorenson 10-16H1, Alkali Creek, t4/19; cum 122K 8/19;
• 34759, 2,401, Whiting, Berger 24-20-1H, Tyrone, t4/19; cum 126K 8/19;

The CLR Sorenson wells are tracked here.
 
Some incredible wells coming off the confidential list this next week.

Active rigs:

$53.55	10/7/2019	10/07/2018	10/07/2017	10/07/2016	10/07/2015
Active Rigs	58	64	59	33	67

RBN Energy: rising ethane demand means less rejection, more recovery and higher prices. Wasn't it just last week that things looked dire for ethane? Whatever.

Demand for ethane from U.S. steam crackers is rising as recently completed ethane-only crackers ramp up to full production and additional crackers are finished. To keep pace with demand growth, a portion of the ethane now being “rejected” into the natural gas stream and sold for its BTU value will instead need to be left in the mixed-NGLs stream and fractionated into purity-product ethane.

This raises two questions. First, in which shale plays will this shift from ethane rejection to ethane production occur? And second, how much will ethane prices need to increase to encourage the shift and make the required incremental volumes of ethane available? Today, we continue a series on ethane-market developments with a look at where the next tranche of ethane supply will come from and how high ethane prices might need to rise.