There It Is: $60-WTI; Nine Wells Coming Off The Confidential List -- December 16, 2019

WTI: some suggest "backwardation" in the market is a bit overdone.

Another huge deal, link here:

International Flavors and Fragrances has reached a $26.2 billion agreement to buy DuPont’s nutrition unit. The latest deal in the fast-growing food ingredients business is the biggest ever for the New York-based company. IFF has fought off competition from Irish dairy producer Kerry Group in order to win this deal.

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Back to the Bakken

Active rigs:

$60.11	12/16/2019	12/16/2018	12/16/2017	12/16/2016	12/16/2015
Active Rigs	53	67	53	40	64

Nine wells coming off the confidential list -- 

Monday, December 16, 2019: 46 for the month; 251 for the quarter:

• 35336, conf, Hess, EN-Ruland A-LE-155-94-1201H-1, Manitou, no production data,

Sunday, December 15, 2019: 45 for the month; 250 for the quarter:

• 35335, conf, Hess, EN-Ruland A-155-94-1201H-4, Manitou, no production data,
• 34096, conf,Resource Energy Can-Am, Trooper 0409-3TFH, Blooming Prairie, some production;

Saturday, December 14, 2019: 43 for the month; 248 for the quarter:

• 35334, conf, Hess, EN-Ruland A-155-94-1201H-5, Manitou, no production data,
• 35118, conf, Oasis, Kellogg Federal 5297 11-30 2BX, Banks, producing, but not particularly remarkable for a Banks well;
• 34843, conf, Enerplus, Boreas 149-93-33C-28H, Mandaree, a nice well;
• 34842, conf, Enerplus, Metis 149-93-33C-28H-TF, Mandaree, a nice well;
• 34841, conf, Enerplus, Athena 149-93-33C-28H-TF, Mandaree, a nice well;
• 34840, conf, Enerplus, Zeus 149-93-33D-28H, Mandaree, a nice well;

RBN Energy: private-equity-backed ARB Midstream's D-J Basin crude gathering systems.

Private equity is playing a critically important role in the build-out of crude oil gathering systems in the Denver-Julesburg (D-J) Basin, where rising production volumes — and the expectation of further growth, especially in and around Weld County, CO — are spurring a number of major projects.

For proof, you need look no further than ARB Midstream, which, with backing from Ball Ventures’ BV Natural Resources, has developed the largest privately held crude transportation and storage network in the D-J through a combination of acquisitions and new construction. Producers have dedicated a quarter of a million acres to it. Today, we continue a series on crude-related infrastructure in the D-J with a look at ARB Midstream’s fast-expanding asset base there.