Four Wells Coming Off Confidential List Today -- August 3, 2020

Note: we have a new "well status" designation in play. Wow, it never quits:

• 36986, drl/TAI, CLR, LCU Truman Federal 2-23HSL, Long Creek,

Fast and furious:

• Warren Buffett's stake in AAPL tripled in value;
• Men's Warehouse files for bankruptcy, link here;
• Lord & Taylor files for bankruptcy, link here;
• Norwegian cruise ship out at sea; did not get the memo; link here;
• Biden's VP short list: walks back support for Fidel Castro; can you spell "Florida"?
  

Apple, Inc:

• snaps up Canadian payment startup Mobeewave for $100 million; will crush Square; link here;
• wants same deal as other tenants in UK: a 50% discount in rent! LOL. Link here.

Saudi Arabia:

• OPEC basket, link here: $43.02 -- enjoy it while "you" can --
• may be forced to lower price again; get out the violins; link here;

********************************

Back to the Bakken

Active rigs:

$40.83	8/3/2020	08/03/2019	08/03/2018	08/03/2017	08/03/2016
Active Rigs	12	58	64	58	34

Wells coming off confidential list --

Monday, August 3, 2020: 4 for the month; 75 for the quarter, 521 for the year:

• 36986, drl/TAI, CLR, LCU Truman Federal 2-23HSL, Long Creek,

Sunday, August 2, 2020: 3 for the month; 74 for the quarter, 520 for the year:

• None.

Saturday, August 1, 2020: 3 for the month; 74 for the quarter, 520 for the year:

• 36627, loc/NC, XTO, Arnold 21X-17H, Tobacco Garden;
• 36418, SI/A, Zavanna, Panther 16-22 5TFH XE, Stony Creek, t--; cum 76K 4.5 months;
• 36161, drl/A, Hess, GO-Hauge-LW-156-97-2116H-1, Dollar Joe, t--; cum 93K 4 months; off line 6/20;

RBN Energy: northeast gas takeaway constraints loom this fall.

The Northeast natural gas market this past spring and early summer averted a major meltdown, as production shut-ins, record cooling demand, and increased outflows helped the region balance. But the fall shoulder season is liable to be less forgiving, given that storage levels are much higher and carrying a surplus to prior years. Now, shut-in wells are back online for the most part and production has surged.

In-region demand has been at record highs, but summer cooling demand will peak soon and give way to balmy fall weather. As that happens, the Northeast will increasingly rely on outbound flows to offset a growing supply imbalance. But pipeline capacity utilization for routes moving gas out of the region have been running high already. How much incremental volumes can the takeaway pipelines absorb before constraints develop and hammer regional supply prices? Today, we analyze flows and capacity out of the region.