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

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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.]

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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:

$53.26	10/9/2019	10/09/2018	10/09/2017	10/09/2016	10/09/2015
Active Rigs	56	63	57	33	68

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.