Two Wells Coming Off The Confidential List -- June 8, 2021

Regular, unleaded gasoline, north Texas: $2.49 / gallon in our neighborhood. Our area stations run a bit higher than a few miles away from the highways.

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Back to the Bakken

Active rigs:

$68.72	6/8/2021	06/08/2020	06/08/2019	06/08/2018	06/08/2017
Active Rigs	21	12	64	61	52

Two wells coming off the confidential list -- Tuesday, June 8, 2021:

• 37676, drl/NC, MRO, Copeland USA 34-31H, Reunion Bay, no production data,
• 36553, 335, Oasis, Thelen 5297 12-6 8T, Banks, t1/21; cum 81K 4/21;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2021	30	21371	21372	34402	66693	66486	35
BAKKEN	3-2021	31	22566	22515	36776	50483	50262	44
BAKKEN	2-2021	28	21175	21171	34285	403	209	34
BAKKEN	1-2021	27	15466	15455	25876	363	185	24
BAKKEN	12-2020	11	110	110	804	23	7	4

RBN Energy: Appalachia gas outflows, prices take a hit with TETCO capacity cut. 

This year has been a mixed bag for Appalachian natural gas producers. Outright prices in the region are higher than they’ve been in a few years, thanks to lower storage inventory levels and robust LNG export demand. However, regional basis (local prices vs. Henry Hub) is weaker year-on-year as higher production volumes have led to record outbound flows from Appalachia and are threatening to overwhelm existing pipeline takeaway capacity. Last month, Equitrans Midstream officially announced that the start-up of its long-delayed Mountain Valley Pipeline (MVP) project will be pushed to summer 2022 at the earliest. Then, just last week, outbound capacity took another hit as Enbridge’s Texas Eastern Transmission (TETCO) pipeline was denied regulatory approval to continue operating at its maximum allowable pressure, effectively lowering the line’s Gulf Coast-bound capacity by nearly 0.75 Bcf/d, or ~40%, for an undefined period. Today, we consider the impact of this latest development on pipeline flows, production, and pricing.