Monday, April 5, 2021

Three Wells Coming Off Confidential List But No Production Data; Equity Markets Surging -- April 5, 2020

Markets: surging.

Oil: down

  • WTI: could drop below $60 today; trading at $60.03
  • OPEC basket: $63.07, link here; Saudi can't "make it" on 6-handle oil;

Quick look:

  • OKE: down almost 1% at $51
  • ENB: down about half a percent, at $36.68
  • EPD: down slightly; at $22.25

Back to the Bakken

Active rigs:

Active Rigs1244625849

Three wells coming off confidential list:

Monday, April 5, 2021: 2 for the month, 2 for the quarter, 83 for the year:

  • None.

Sunday, April 4, 2021: 2 for the month, 2 for the quarter, 83 for the year:

  • 37591, drl/NC, Slawson, Loon Federal 2-24-25H, Big Bend, no production data,

Saturday, April 3, 2021: 1 for the month, 1 for the quarter, 82 for the year:

  • 37592, drl/NC, Slawson, Loon Federal 5-24-25TFH, Big Bend, no production data,
  • 36247, drl/NC, BR, Stortroen 2C TFH, Dimmick Lake, no production data,

RBN Energy: US LNG feedgas demand surges as export capacity additions continue

If there’s one word that sums up the U.S. LNG export market over the past year, it’s resilience. After taking a pummeling last year, feedgas demand and exports have roared back, reaching new heights in recent weeks, and are headed still higher in the coming months as new liquefaction capacity is commissioned at a faster pace than expected. Train 3 at Cheniere Energy’s Corpus Christi LNG facility came online on March 26, increasing U.S. LNG export capacity to 75 MMtpa (~9.9 Bcf/d), which equates to a total feedgas demand of nearly 11 Bcf/d. Two more export projects — 18 modular trains at Venture Global’s new Calcasieu Pass facility and the sixth train at Cheniere’s existing Sabine Pass — are on track to ship their first commissioning cargoes later this year, ahead of their originally proposed construction schedules, and will be fully operational in 2022. This is quite a different picture from last year, when nothing but uncertainty loomed on the horizon in a COVID-hit world and progress for just about every project was in jeopardy. Today, we start a short series providing an update on the status of operational and under-construction export capacity and where LNG feedgas demand is headed this year.

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