NDIC Data Probably Won't Be Reported Until Tomorrow -- November 11, 2019

First things first: the comic page.

That "new" Iranian oil field announced over the weekend? Not that big a deal. New details released. Turns out this field was previously identified, and the reserves estimates have simply been increased. In addition, the recovery rate looks a bit slim. Data points -- with a bit of politics and opinion throw in --

• Iran
• "new" oil reservoir called "Namavaran"
• previously proven reserves in the field: 31.3 billion bbls
• new proven reserve in the field: 22 billion bbls
• total proven reserve in the field: 53.3 billion bbls
• "new" recoverable oil with recovery rate of 10%: 2.2 billion bbls 
• at one million bopd, would last about 5 years
• not so "new" oilfield -- estimates, 53 billion bbls or oil
• located in the country's oil-rich Khuzestan province 
• Iran oil exports
• prior to sanctions: 2.5 million bopd
• currently, with sanctions: one-half million bopd 

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Back to the Bakken

No daily activity report today.

Active rigs:

$56.50	11/11/2019	11/11/2018	11/11/2017	11/11/2016	11/11/2015
Active Rigs	55	66	52	38	66

Wells coming off the confidential list today, over the weekend -- because of the holiday, these probably won't be reported until tomorrow -- at the earliest --


 Monday, November 11, 2019: 34 for the month; 129 for the quarter:

• 36300, conf, Newfield, Schneiderman 15-99-29-32-6H, 
• 33965, conf, CLR, Angus Federal 6-16H2,
• 30993, conf, BR, Gudmunson 6-1-26TFH, 

Sunday, November 10, 2019: 31 for the month; 126 for the quarter:

• 35438, conf, Hess, GO-Elvin Garfield-156-97-1918H-6, 

Saturday, November 9, 2019: 30 for the month; 125 for the quarter:

• 36299, conf, Newfield, Schneiderman 150-99-29-32-6H, 
• 35439, conf, Hess, GO-Elvin Garfield156-97-1918H-7, 

RBN Energy: Tallgrass projects to boost eastbound gas flows from the Rockies' Cheyenne hub.

After a months-long regulatory delay, two Tallgrass Energy-led natural gas projects have progressed in the past month that will expand takeaway options out of the growing Denver-Julesburg (D-J) production area. Tallgrass in early October began construction on the Cheyenne Connector pipeline and the Rockies Express Pipeline’s Cheyenne Hub Enhancement — aimed at expanding outbound capacity and destination optionality for growing natural gas supplies from the Denver-Julesburg play in the Niobrara Shale, as well as providing a new outlet for Powder River Basin gas. The projects also have secured additional capacity commitments in recent weeks. And in its earnings call last week, Tallgrass said that DCP Midstream, which was already a shipper on Cheyenne Connector, has exercised its option to purchase 50% interest in the project. The influx of gas supply at Cheyenne Hub resulting from these projects will boost eastbound flows on Rockies Express (REX), which is in the midst of recontracting its capacity as existing long-term contracts roll off today. Next, we provide an update on the company’s plans to increase takeaway capacity out of the D-J basin and PRB.