Nine Wells Coming Off Confidential List -- August 24, 2020

Substitute "regional economic growth" for "added NG pipelines.

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Iraq: pledges to cut more deeply. From Reuters and if you can't trust Reuters, who can you trust?

Iraq said on Friday, August 22, 2020, it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months. 

Iraq oil minister Ihsan Abdul Jabbar said in a joint statement with his Saudi counterpart Prince Abdulaziz bin Salman that Iraq's output cut was in addition to the 850,000 bpd it had committed to cut in August and September under an OPEC+ supply pact. The total reduction to Iraq's production in August and September will amount to 1.25 million bpd for each month.

OPEC basket, link here: down again, this time drops below $45. Trading at $44.92.

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Back to the Bakken

Active rigs:

$42.78	8/24/2020	08/24/2019	08/24/2018	08/24/2017	08/24/2016
Active Rigs	12	64	62	54	31

Nine wells coming off the confidential list:

Monday, August 24, 2020: 69 for the month; 140 for the quarter, 586 for the year:

• 36537, drl/NC, XTO, Marilyn 21X-23D, Sand Creek, no production data,
  
• 35998, drl/A, Hess, AN-Mogen Trust-153-94-2932H-9, Antelope-Sanish, t--; cum 108K 6/20; a 25K month;
  
• 35596, SI/NC, Enerplus, Stratus 149-94-33C-28H-TF, Eagle Nest, t--; cum 78K 5/20; a 31K month;
  

Sunday, August 23, 2020: 66 for the month; 137 for the quarter, 583 for the year:

• 36686, SI/A,  Whiting, Iverson 41-14-2HU, Sanish, t-- cum 90K 6/20; a 25K month;
  
• 36538, drl/NC, XTO, Marilyn 21X-23H, Capa, no production data,
  
• 35997, drl/A, Hess, AN-Mogen Trust-LE-153-94-2932H-1, Antelope-Sanish, t--; cum 104K 620; a 29K month,
  
• 33799, SI/IA, CLR, Bohmbach Federal 13-26H1, Elm Tree, t--; cum 33K 4/20; off line 5/20; remains off line 6/20; an 18K month;
• 33798, SI/IA, CLR, Bohmbach Federal 12-26H, Elm Tree, t--; cum 51K 4/20; off line 5/20; remains off line 6/20; a 30K month;
  

Saturday, August 22, 2020: 61 for the month; 132 for the quarter, 578 for the year:

• 36539, drl/NC, XTO, Marilyn 21X-23C, Capa, no production data,
  

RBN Energy: Enbridge's Line 5 faces new scrutiny. Archived.

The Dakota Access Pipeline isn’t the only interstate liquids pipe facing an uncertain future. The fate of Enbridge’s Line 5, which batches either light crude oil or a propane/butanes mix from Superior, WI, through Michigan and into Ontario, also hangs in the balance as the company renews its battle with Michigan’s top elected officials to keep the 67-year-old pipeline open and its effort win regulatory approval to replace the pipe’s most important water crossing. 

Line 5 supporters say that closing the 540-Mb/d pipeline would slash supplies to residential and commercial propane consumers in the Great Lakes State, steam crackers in Ontario, and refineries and gasoline blenders in three states and two Canadian provinces. Critics of Line 5 counter that there are plenty of supply alternatives. Today we discuss the pipeline, what it transports, and who it serves, as well as challenges it faces.