The Bakken Just Looks Better And Better -- Permian Natural Gas Gets Crushed Again -- RBN Energy -- October 28, 2019

EIA's driling productivity report: link here. Portions previously posted.

• DUCs:

• New well oil production:

• Bakken: 1,500 bopd
• Permian: 800 bopd

  
Active rigs:

$56.45	10/28/2019	10/28/2018	10/28/2017	10/28/2016	10/28/2015
Active Rigs	57	67	53	34	69

Wells reporting this weekend, Monday:  

Monday, October 28, 2019: 90 for the month; 90 for the quarter:

• 33027, 2,880, CLR, Hereford Federal 12-17H2, Elm Treek, t9/19; cum --;

Sunday, October 27, 2019: 89 for the month; 89 for the quarter:

• 36298, SI/NC, Newfield, Schneiderman 15-99-29-32-5H, South Tobacco Garden, no production data,
• 35207, 713, Whiting, Molien 21-14-2TFH, Tyrone, t5/19; cum 59K 8/19;
• 35053, 1,632, CLR, Collison 13-23HSL, Avoca, t5/19; cum 117K 8/19; 42K in the month of June, 2019;

Saturday, October 26, 2019: 86 for the month; 86 for the quarter:

• 35798, 2,171, Whiting, Link 31-14HU, Foreman Butte, t4/19 (although the scout ticket as the test date as 4/1/1931 -- which of course would be April Fool's Day, 1931 -- ; cum 72K 8/19;

RBN Energy: Permian natural gas prices get crushed ... again.

If it’s not one thing, it’s another in the Permian natural gas market. Just as it appeared that prices in the West Texas basin were finally turning a corner and strengthening with the full start-up of Kinder Morgan’s Gulf Coast Express Pipeline (GCX) late last month, various issues have again conspired to send daily Permian cash prices back down to near zero yet again. And it’s not just the daily spot markets that have come under pressure; forward prices were also severely discounted a few days ago when Kinder Morgan announced that the in-service date of its next long-haul pipeline from the region — the Permian Highway Pipeline project — would be delayed from late 2020 to early 2021. Keeping track of the roller-coaster ride of Permian gas prices and the drivers behind the highs and lows continues to keep heads spinning. Today, we explain the latest wild moves in the Permian natural gas market.