Wow, Already The First Day Of November -- 2019

Four wells coming off the confidential list today -- Friday, November 1, 2019: 4 for the month; 99 for the quarter. I showed these four wells coming off the confidential list today, Friday, November, 1, 2019, but they were reported yesterday by the NDIC; I don't know what happened, but here they are again from yesterday:

• 29377, drl, Hess, EN-Chamley-156-93-0508H-7, Baskin;
• 34207, 60 (no typo), BR, Anderson Ranch 1C MBH, t7/19; cum 29K 9/9;
• 34718, 240, Oasis, Nordeng 5298 12-25E 5B, Banks, t5/19; cum 100K 9/19;
• 34719, 288, Oasis, Nordeng 5298 12-25E 6T, Banks, t5/19; cum 128K 9/19; #20026

Advantaged oil: this does give me the opportunity to remind newbies to look at #20026 again. This is happening all over the Bakken. 

Active rigs:

$54.39	11/1/2019	11/01/2018	11/01/2017	11/01/2016	11/01/2015
Active Rigs	59	68	53	34	70

RBN Energy: will new crude oil export terminals be "frozen" in favor of expansions, instead? Does it matter?

In our blogs and at our 2019 School of Energy a couple of weeks ago, we’ve spent a lot of time discussing the ins and outs and pros and cons of a multitude of proposed crude oil export terminals. What we’ve come to believe is that, with U.S. production growth appearing to slow and market players fearful of overbuilding, many of these multibillion-dollar greenfield projects are unlikely to advance to financing and construction. Odds are that the midstream sector instead will focus on ways to add new capacity to existing terminals, even if that means still relying on reverse lightering in the Gulf of Mexico to fully load Very Large Crude Carriers (VLCCs). In today’s blog, we discuss why producers, traders and midstreamers alike may be pulling back from investments in big, expensive export projects, and what it could mean down the road.

Exports of oil, gas, and NGLs are still the topic du jour in the U.S. energy sector, and with good reason. From a crude oil perspective, the forward curve is not very exciting — prices in the low-to-mid-$50s as far as the eye can see — nor is it very supportive of faster production growth. Permian pipeline deals were all the rage in early 2019, but as the Gray Oak Pipeline begins line fill in November, that system will be the last big addition to the basin until 2021. Yes, there are some interesting developments in the Rockies, some possible new pipes in Cushing, and some marginal production gains in other spots around the U.S., but overall, there isn’t a whole heck of a lot of intrigue and mystery in most parts of the domestic crude market. That is, except for exports and how new and existing terminals will fare in their quest to move oil, gas, and NGLs to overseas markets.