Tuesday, June 8, 2021

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
6/8/202106/08/202006/08/201906/08/201806/08/2017
Active Rigs2112646152

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;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-202130213712137234402666936648635
BAKKEN3-202131225662251536776504835026244
BAKKEN2-20212821175211713428540320934
BAKKEN1-20212715466154552587636318524
BAKKEN12-2020111101108042374

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.

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