Four Wells Coming Off Confidential List -- August 11, 2020

OPEC bssket, link here: $45.01

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Back to the Bakken

Active rigs:

$42.71	8/11/2020	08/11/2019	08/11/2018	08/11/2017	08/11/2016
Active Rigs	12	61	60	57	33

Four wells coming off the confidential list -- Tuesday, August 11, 2020: 31 for the month; 102 for the quarter, 548 for the year:

• 36727, drl/A, CLR, Marshall 8-24H, Little Knife, t--; cum 51K 5/20; off line 6/20; 1 20K month (22 days);
  
• 35859, conf-->loc,  Newfield, Kummer 149-98-2A-11-3H, Pembroke,
  
• 35894, SI/A,  Whiting, Rauser 11-29-2H, Pembroke, t--; cum 107K 6/20; a 25K month;
  
• 33930, SI/IA, CLR, Holstein Federal 14-24H2, Elm Tree, t--; cum 31K 2 months; the CLR Holstein Federal wells are tracked here;
  

RBN Energy: ethane recovery must increase to meet demand.

In their second-quarter earnings presentation last week, Energy Transfer said that they and their joint venture (JV) partners, Satellite Petrochemical, expect the first commissioning cargoes from their new 180-Mb/d ethane export facility in Nederland, TX — formally known as Orbit Gulf Coast NGL Exports LLC — to begin in November, only three months from now. This new outlet for U.S.-sourced ethane comes at a time when production of oil, gas, and NGLs faces near-term declines due to reduced drilling activity resulting from low crude prices. With those declines, will there be enough ethane supply to meet the capacity of the new Orbit export dock and other upcoming ethane-related projects? The short answer is, yes … for the right price. Today, we examine the latest supply and demand dynamics shaping the U.S. ethane market.