WTI Tests $36; OPEC In Deep Doo-Doo; Hess Reports A Nice Well -- November 2, 2020

OPEC basket, link here: trading at $37.12 today. 

*****************************
Back to the Bakken

Active rigs:

$36.13	11/2/2020	11/02/2019	11/02/2018	11/02/2017	11/02/2016
Active Rigs	14	57	68	55	35

Wells coming off the confidential list --

Monday, November 2, 2020: 1 for the month; 25 for the quarter, 690 for the year

• None.

Sunday, November 1, 2020: 1 for the month; 25 for the quarter, 690 for the year

• 35808, loc/NC, Petro-Hunt, Hagen 144-98-12D-1-3H, Little Knife, no production data,

Saturday, October 31, 2020: 24 for the month; 24 for the quarter, 689 for the year

• None. Spooky, huh?

Friday, October 30, 2020: 24 for the month; 24 for the quarter, 689 for the year

• 36796, drl/A, 3,053, Hess, EN-Ruland-LE-156-94-3328H-1, Alkali Creek, big well; 33 stages; 9.6 million lbs proppant; 7.4 million gallons of water; EN-Ruland wells are tracked here;
  

  Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
  BAKKEN	9-2020	24	24081	24019	11282	0	0	0
  BAKKEN	8-2020	31	19221	19182	10696	20851	20851	0
  BAKKEN	7-2020	31	16728	16752	10754	17965	17965	0
  BAKKEN	6-2020	30	22875	22924	40732	29862	29862	0
  BAKKEN	5-2020	31	31843	31675	68648	41519	41519	0
  BAKKEN	4-2020	1	1030	989	1424	4198	4198	0

RBN Energy: the wacky world of condensates -- what are they, and what's ahead for them? Archived.

Condensates are quirky as heck — everyone’s got his or her own definition of what they are, for one thing — and their very quirkiness has sent condensates on a wild ride during the Shale Era. 

For example, the U.S. government for years categorized “conde” as a very light crude oil, and the long-standing ban on most crude exports meant you couldn’t export the stuff to anywhere but Canada. Unless, that is, you ran conde through a splitter to make NGLs, naphthas, and kerosene — those are petroleum products and they could (and still can) be exported, no questions asked. Then, as condensate production started soaring, especially in the Eagle Ford, the feds said that if you “processed” conde in special equipment to make it less volatile you could export it — no splitting required. That made the folks who invested in splitters shout in unison, “Huh?!” The roller-coaster for conde didn’t end there. 

The U.S. soon lifted the ban on all crude exports, and suddenly you didn’t need to process condensate at all to export it. More upheaval ensued. Today, we discuss this peculiar grouping of hydrocarbons.