Well, That Didn't Last Long -- The UK Re-Opens It Borders -- Apparently That "New" Virus Isn't All That Bad; WTI Recovers -- December 23, 2020

UK border re-opens: link here. 

It will only get better under Biden: US 2020 exports to China through November, 2020, 26% higher than in 2019. 

COP: from yesterday -- announces significant oil discovery in the Norwegian Sea. This marks the fourth successful well on the Norwegian Continental Shelf in the last sixteen months. Link at SeekingAlpha. And, today, again at SeekingAlpha: this discovery highlights the strength of this company.

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Back to the Bakken

Active rigs:

$47.89	12/23/2020	12/23/2019	12/23/2018	12/23/2017	12/23/2016
Active Rigs	14	56	69	53	41

One well coming off the confidential list today --  

Wednesday, December 23, 2020:

• 37213, drl/A, Hess, TI-Nelson-LE-157-94-3031H-1, Pleasant Valley, t--; cum 91K 10/20; fracked 4/18/20 - 4/29/20; 11 million gallons of water; 89.7% water by mass; no neighboring wells of interest; initial production --
  

  Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
  BAKKEN	10-2020	31	18151	18177	18576	26685	24582	2103
  BAKKEN	9-2020	30	22777	22724	37110	31560	30328	1232
  BAKKEN	8-2020	27	17760	17789	30276	27385	19273	8112
  BAKKEN	7-2020	31	23117	23067	37151	31375	25845	5530
  BAKKEN	6-2020	8	8700	8606	13131	9396	8107	1289

RBN Energy: imports remain key to Rockies and West Coast refiners' crude slates, part 5. Archived.

PADDs 4 and 5 — the Rockies and the West Coast regions, respectively — are each outliers in the U.S. refining sector. Refineries in the Rockies, for example, are generally far smaller than those in other PADDs and, due to pipeline flows, source their crude oil from either Western Canada, the Bakken, or in-region production, including the Niobrara and Utah’s Uinta Basin. West Coast refineries, in turn, have no crude oil pipeline links with U.S. points to the east, and depend on a mix of imported crude from Canada, Latin America, and the Middle East, as well as domestic oil from California, Alaska, and rail receipts. Today, we conclude a series on region-by-region crude oil imports and refinery crude slates with a look at PADDs 4 and 5.