Six Wells Coming Off The Confidential List Today -- October 22, 2019

Oh-oh: "majors" are exiting Kazakhstan. Link here.  Data points:

• Royal Dutch Shell has pulled out of a Khazar offshore project next to the giant Kashagan field
• a multinational consortium including Shell is also dropping plans for the adjoining Kalamkas block
• Shell writes off almost $1 billion on this debacle
• Kalamkas-Khazar project costs estimated at $5 billion with production starting in the late 2020
• but look at this: energy companies have spent more than $50 billion on developing Kashagan which has been plagued by delays and cost overruns
• Kashagan is linked at the sidebar at the right; I was skeptical from the get-go on this one.
• Kashagan? put a fork in it; it's done
• peak oil? hardly?

********************************  
Back to the Bakken

Six wells coming off the confidential list today -- Tuesday, October 22, 2019: 76 for the month; 76 for the quarter:

• 35398, conf, Hess, RS-Aadnes-157-91-2829H-4, Ross, no production data, 3
• 35209, conf, Whiting, Moline 21-14-2H, Tyrone, a big well;
• 34943, conf, Whiting, Moline 41-15-2HU, Tyrone, a big well;
• 33787, conf, Crescent Point Energy, CPEUSC Elena 6-22-15-157N-100W TFH, Marmon, no production data,
• 33026, conf, CLR, Hereford Federal 11-17H, Elm Tree, producing,
• 30645, conf, CLR, Sorenson 9-16H1, Alkali Creek, producing,

Active rigs:

$53.79	10/22/2019	10/22/2018	10/22/2017	10/22/2016	10/22/2015
Active Rigs	62	71	54	34	69

RBN Energy: the bottom line on natural gas egress from western Canada, part 7.

The Western Canadian natural gas market remains a challenging environment from every angle: rising supplies, lack of available pipeline export capacity, and demand that can’t seem to rise fast enough. This has resulted in a price environment which, of late, has become the weakest in North America. The long-term solution to anemic prices and future supply growth is to increase pipeline export capacity from the region and ensure that demand continues to grow. We conclude this series today with a look at how forecasted supply and demand growth will stack up against planned export pipeline capacity additions to determine if the embattled region’s prospects can turn around in the next few years.