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Wednesday, December 23, 2020

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.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

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Back to the Bakken

Active rigs:

$47.89
12/23/202012/23/201912/23/201812/23/201712/23/2016
Active Rigs1456695341

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 --
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN10-20203118151181771857626685245822103
    BAKKEN9-20203022777227243711031560303281232
    BAKKEN8-20202717760177893027627385192738112
    BAKKEN7-20203123117230673715131375258455530
    BAKKEN6-202088700860613131939681071289

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.

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