Electric fracking: Range Resources -- contracts with US Well Services for electric hydraulic fracturing on a dedicated basis into 2021. Link here. USWS’
“Clean Fleet” technology that runs on electric power powered by natural gas turbine generators on the wellsite. The firm pointed out the system replaces all conventional diesel engines with gas-powered electric motors, adding that it lowers fuel costs by up to 90 percent.Saudi: considering cuts of 500,000 bopd; perhaps even as much as a temporary cut of 1 million bopd. WSJ. Comments at the linked article: embarrassingly immature considering the readers are WSJ readers. I expect more from WSJ readers.
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Back to the Bakken
EIA shows ND reserves in 18 were still slightly below 14. Some recovery from the abyss of 16. But still less than during the boom.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RCRR01SND_1&f=A.Active rigs:
| $51.43 | 2/3/2020 | 02/03/2019 | 02/03/2018 | 02/03/2017 | 02/03/2016 |
|---|---|---|---|---|---|
| Active Rigs | 54 | 64 | 58 | 40 | 44 |
Eight wells coming off the confidential list --
Monday, February 3, 2020: 8 for the month; 115 for the quarter, 115 for the year:
35856, conf, XTO, FBIR Bird 21X-19A,
35098, conf, Oasis, Kellogg Federal 5297 12-30 6T,
35047, conf, XTO, Johnson Trust Federal 21X-6EXH-N,
Sunday, February 2, 2020: 5 for the month; 112 for the quarter, 112 for the year:
35885, conf, Liberty Resources, Paige 158-93-19-18-3MBH,
35855, conf, XTO, FBIR Bird 21X-19E,
35665, conf, Lime Rock Resources, Neal 5-33-28H-144-95L,
35116, conf, Oasis, Kellogg Federal 5297 11-30 5T,
30189, conf, Oasis, Lewis Federal 5300 11-31 2B,
Saturday, February 1, 2020: 0 for the month; 107 for the quarter, 107 for the year:
None.
RBN Energy: flurry of changes continue in Texas Gulf Coast gas markets. One word: Belarus. Archived.
When it comes to Texas natural gas markets, the Permian tends to steal the show. With its roughly 2 Bcf/d of annual production growth, constrained pipelines and absurdly cheap — sometimes even negative — pricing, it’s hard for the other gas hubs in the Lone Star State to garner much attention.
However, the myopic focus on West Texas overlooks a noteworthy gas market shake-up taking place on the Texas Gulf Coast, where most of the Permian’s incremental gas production is headed and where multiple new liquefied natural gas facilities are coming online to move the new supplies into world markets. Also, new export pipelines are moving increasing volumes south of the border to Mexico. Today, we provide an update on the latest in Texas Gulf Coast gas infrastructure changes and their potential impacts on the region’s supply and demand balance.
Assuming the Coronavirus has had an effect on the crude price, what will the price do when this passes?
ReplyDeleteDoes the reopening of the China market impact it upwards as it has on the downward?
I'm thinking this will all be behind us by summer driving season in the US. I will never predict oil prices (I suppose I have, but my rule of thumb is not to try to predict oil prices -- too many variables).
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