Pages

Wednesday, October 9, 2019

Two Wells Coming Off The Confidential List Today -- October 9, 2019

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.

Flood: Big Oil's renewable shift ween flooding investors with cash -- Bloomberg. Early this week COP made a huge announcement along this same line. Will be re-posted. The story has a data point that I brought up years ago and no one else has mentioned it until now. [Obviously it's been mentioned before but I've not been able to find other examples.]

 ***************************************
Back to the Bakken 
Two wells coming off the confidential list today -- Wednesday, October 9, 2019: 27 for the month; 27 for the quarter:
  • 35170, 306, Zavanna, George 19-25 2HXW, Avoca, t4/19; cum 106K 8/19; 
  • 34436, 156, Enerplus, Dewey 148-93-20B-29H-TF, McGregory Buttes, t4/19; cum 64K 8/19;
Active rigs:

$53.2610/9/201910/09/201810/09/201710/09/201610/09/2015
Active Rigs5663573368

RBN Energy: supply growth levels natural gas futures to near 20-year lows.
The CME/NYMEX prompt Henry Hub natural gas price yesterday settled at about $2.28/MMBtu, down 40 cents from the summer peak of $2.68 in mid-September. That’s also a long way down from the $3-plus prices seen at this time last year. What’s more, daily prompt-month contract settlements this injection season, from April to present, have averaged the lowest in over 20 years. This, despite the Lower-48 gas storage inventory starting the 2019 storage injection season in April with triple-digit deficits to year-ago and five-year-average levels. How did we get here? Today, we begin a short series breaking down the supply-demand fundamentals that brought the gas market to its knees in recent months.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.