One Well Coming Off Confidential List -- October 26, 2021

Active rigs:

$83.59	10/26/2021	10/26/2020	10/26/2019	10/26/2018	10/26/2017
Active Rigs	23	13	57	67	53

One well coming off confidential list:

Tuesday, October 26, 2021: 22 for the month, 22 for the quarter, 245 for the year:

• 36929, conf, Rimrock Oil & Gas, FBIR Guyblackhawk 24X-27H, another huge well, first production, 7/21; t--; cum 51K 8/21;

RBN Energy: Permian natural gas markets singing a familiar tune as constraints loom. 

Some things you can pretty much count on this time of year, like the end of 100-degree days in Houston, Aggies rooting against Longhorns, and the Astros in the World Series. Permian natural gas production has also been consistently higher the last few years. It’s usually on its way to new highs as we approach the holidays and 2021 is another fine example. After a bang-up 2020, this year has been one of continuously solid gas production growth in the Permian, with gas volumes currently sitting near 14 Bcf/d, up around 1.5 Bcf/d versus this time last year. What’s more, at today’s crude oil prices, which encourage increasing production of oil and associated gas, there is no end in sight for Permian gas growth. Which means, as many gas traders already know, that the Permian’s primary gas market, the Waha Hub, may soon be headed back into the familiar territory of deep basis discounts. In today’s RBN blog, we look at the latest developments in Permian gas markets.