Eight Wells Coming Off Confidential List -- September 14, 2020

OPEC basket, link here: not yet posted for today. Elsewhere being reported at no change, trading at $39.83.

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Back to the Bakken

Active rigs:

$37.34	9/14/2020	09/14/2019	09/14/2018	09/14/2017	09/14/2016
Active Rigs	12	64	65	55	34

Wells coming off the confidential list --

Monday, September 14, 2020: 119 for the month; 190 for the quarter, 636 for the year

• 37446, loc/drl,  CLR, Irgens Rexall 11-19HSL1, East Fork, no production data
• 37351, drl/drl, WPX, Fast Dog 7-6HG, Eagle Nest, no production data,
• 37236, drl/NC, Slawson, Orca Federal 6-23-26TFH, Big Bend, no production data,

Sunday, September 13, 2020: 116 for the month; 187 for the quarter, 633 for the year

• 36775, Sl/NC, Whiting, Iverson 11-14HU, Sanish, t--; cum 20K over 30 days; cum 66K 10/20;
  
• 36115, drl/NC-->drl/A, Hess, GO-Dahl-156-97-2215H-4, Dollar Joe, t--; cum 53K in less than four months; cum 73K 10/20;
  

Saturday, September 12, 2020: 114 for the month; 185 for the quarter, 631 for the year

• 36842, drl/A, Hess, TI-State-158-95-3635H-7, Tioga, t--; cum 111K 10/20;
  
• 36001, drl/A, Hess, AN-MogenTrsut-153-94-2932H-6, Antelope-Sanish, t--; cum 10K 10/20;
  
• 36000, drl/A, Hess, AN-Mogen Trust-153-94-2932H-7, Antelope-Sanish, t--; cum 89K 10/20;
  

RBN Energy: the economics of US LNG in a competitive global gas market.  

The economics for U.S. LNG entered new territory this year, as price spreads to international destinations, particularly from the Gulf Coast export terminals, went from an average $4-8/MMBtu a couple of years ago to $1/MMBtu or less in 2020 to date. The tighter spreads reduced netbacks for U.S. offtakers and led to mass cargo cancellations this summer. Moreover, current futures curves show Henry Hub price spreads to Europe and Asia staying mostly in the $1-$3/MMBtu range over the next few years, suggesting that the arbitrage for U.S. LNG exports, particularly from the Gulf Coast terminals, likely will remain tighter and make commercial decisions to lift or cancel U.S. cargoes much more nuanced than they ever were before. Today, we delve into the primary cost components that factor into offtakers’ netbacks.