Four Wells Coming Off Confidential List; WTI Holds Above $88 -- February 2, 2022

MDU: big story -- lost in shuffle. Link here. 

• natural gas pipeline
• North Bakken Expansion project
• capacity: 250 million cubic feet per day
• potential: up to 625 million cubic feet per day
• completion -- look at this -- a 15,426-foot horizontal directional drill of a 24-inch pipeline
• crossing Lake Sakakawea on the Missouri River
• just less than three miles long: one of the longest of its kind in the world
• project completed under a shortened timeframe; reduced original schedule by two months after a delay in receiving approval from the FERC (I'm shocked, shocked -- a FERC delay?)
• total project expansion: 100 miles of pipeline, a compressor station expansion; a new compressor station;
• with this project, MDU subsidiary now has total pipeline capacity greater than 2.4 billion cubic feet of natural gas per day (memo to self: check Hess / North Dakota)

Active rigs, always an estimate:

$88.16	2/2/2022	02/02/2021	02/02/2020	02/02/2019	02/02/2018
Active Rigs	32	14	54	64	57

Wednesday, February 2, 2022: 7 for the month, 62 for the quarter, 62 for the year

• 38385, conf, Hunt, Blue Ridge 159-100-6-7H2, Green Lake, some production;
• 37981, conf,  CLR, Clear Creek Federal 3-26H, Westberg, no production reported;
• 37912, conf,  CLR, Charolais South Federal 14-10H2, Elm Tree, no production reported;
• 37332, conf, Hess, EN-Rice-A-155-94-0310H-2, Manitou, a very nice well;

RBN Energy: proposed changes to 45Q tax credit could survive a "build back better" defeat, part 5.  

As noted several times on the blog, this will drive faux environmentalists nuts that Big Oil is going to be subsidized by the US government to do something it would be doing anyway.