Two Wells Coming Off Confidentail List -- August 7, 2020

Trump, earlier this week: big numbers Friday, for July, link here:

• forecast: 1.48 million
• actual: 1.763 million

Market: stock futures cut losses after stronger-than-expected US jobs report:

• prior to report: Dow down about 150 points; all major indices in the red;
  
• after report: all indices turn green (though most are now back to red); Dow goes green

OPEC basket, link here:  $45.17

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Back to the Bakken

NOG: reports 2Q20 earnings, link here. 

 Active rigs:

$41.45	8/7/2020	08/07/2019	08/07/2018	08/07/2017	08/07/2016
Active Rigs	12	60	66	59	34

Wells coming off confidential list -- Friday, August 7, 2020: 16 for the month; 87 for the quarter, 533 for the year:

• 36749, drl/NC, XTO, FBIR Lawrence 24X-26D, Heart Butte,
  
• 35143, SI/A, CLR, Durant 2-12HSL, East Fork, t--; cum 27K one month;
  

 RBN Energy: a saga of NGL storage -- RBN's greatest hits. 

Over the past five years, the production of natural gas liquids from gas processing plants has soared by almost 2 million barrels per day (2 MMb/d), or about 60%. That has been great news for natural gas producers, processors, and end-use markets. But there is a catch: the rate of production does not match up with demand. While production is a steady, “ratable” volume, demand is anything but ratable. Demand swings with the gasoline blending season, cold weather (or lack thereof) in the propane market, export demand, petchem feedstock economics, the impact of COVID-19 on transportation fuels, and a myriad of other factors. The flywheel that balances supply and demand on any given day is storage. Not just any storage, though. For NGLs, storage of large volumes means salt caverns. Huge caverns thousands of feet below the surface. 

Today, we update one of RBN’s Greatest Hits blogs and take a deep dive into the history of NGL storage — all the way back to Smoky Billue.