Monday, May 17, 2021

WTI Continues To Melt Up; Twelve Operators With Active Rigs In The Bakken; Nineteen Active Rigs -- May 17, 2021

Tesla: TSLA is now trading below $575. Down 4% today; trading about $565. 

ATT - Discovery: lots of media analysis. ATT moving from "vertical integration" to "pure-play" streaming services. 

Wow -- so many story lines: Saudi sovereign fund PIF boosts US equities exposure to over $15 billion. Reuters.

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Back to the Bakken

Boom: the number of active rigs in North Dakota are now almost 50% higher than a year ago -- 19 vs 13. 

Active rigs:

$66.29
5/17/202105/17/202005/17/201905/17/201805/17/2017
Active Rigs1913666052

The operators with active rigs:

  • CLR (5): Gordon Federal, Bang, Harrisburg, Harms Federal, Candee
  • Hess (2): EN-Johnson, GO-Braaten,
  • MRO (2): Armstrong, Morgan USA,
  • Ovintiv (2): Rolla, Rolfsrud
  • Slawson: Mauser Federal,
  • Rimrock: FBIR Guyblackhawk,
  • Enerplus: Beaver,
  • Iron Oil Operating: Antelope,
  • Petro-Hunt: Jorgenson,
  • Whiting: Lacey
  • Oasis: Cliff Federal,
  • Crescent Point Energy: CPEUSC Sylven,

One well coming off confidential list -- Monday, May 17, 2021: 28 for the month, 49 for the quarter, 130 for the year:

  • 36600, 1,400, Hess, EN-Anderson-LE-156-94-1820H-11, Manitou, t11/20; cum 67K 3/21;

Sunday, May 16, 2021: 27 for the month, 48 for the quarter, 129 for the year:

  • None.

Saturday, May 15, 2021: 27 for the month, 48 for the quarter, 129 for the year:

  • None. 

RBN Energy: MVP delay risks amplifying Appalachia's re-emerging gas takeaway constraints. Archived.

Appalachia natural gas producers hoping to get a big boost in pipeline takeaway capacity later this year were dealt some bad news recently. On May 4, Equitrans Midstream officially pushed back the in-service date for the already-delayed Mountain Valley Pipeline. The 2-Bcf/d, greenfield project is the last of the major planned expansions that would add substantial capacity from the prolific Appalachia gas-producing region and help stave off severe seasonal pipeline constraints, at least in the near- to midterm. Previous guidance had it coming online late this year, but Equitrans said it is now targeting start-up in the summer of 2022, pending water and wetland crossing permit reviews. The news is far from surprising considering the numerous regulatory and legal challenges midstream projects, including MVP, have previously faced in the Northeast over the past decade or so. But the resulting uncertainty leaves Northeast producers in a tight spot. In today’s blog, we will consider the implications of the MVP delay for Appalachia’s outflows.

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