Seven Wells Coming Off Confidential List -- A New High In Quite Some Time -- Enerplus With A Couple Of Huge Wells -- April 22, 2022

US crude oil in storage: 26.2 days, down from 26.7 days last week. Link here.

Ships banned and ISO NE: with Russian-linked ships banned at US ports, this becomes even more interesting; little impact going into summer, but next winter?

• today, paltry demand at 11,862 MW early a.m.
• price: 6th decile; $100+
• add wood as a marginal fuel to natural gas and wind
• most interesting and without explanation: very expensive hydro at 20%
• nuclear: 21%
• very expensive hydro nearly matching contribution of nuclear;

Houston refinery: to be closed. Lyondell Basell; two failed attempts to sell. 

• to be closed by end of 2023;
• five US refineries have been closed in the past two years
• high costs; low margins;
• products: gasoline, diesel and jet fuel
• 260,000 bbl-per-day capacity

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Back to the Bakken

Active rigs:

$103.40	4/22/2022	04/22/2021	04/22/2020	04/22/2019	04/22/2018
Active Rigs	37	16	29	62	59

Friday, April 22, 2022: 44 for the month, 44 for the quarter, 203 for one year

• 38499, conf, CLR, Whitman FIU 5-34H, Oakdale, no production data,
  
• 38458, conf, Slawson, Machete Federal 1 SLH, Big Bend, no production data,
• 38455, conf, Slawson, Lightning Federal 5-24-13TFH, Big Bend, no production data,
• 37724, conf, Enerplus, Beaver 151-94-33C-28H, Antelope, a very nice well;
• 37722, conf, Enerplus, Sable 151-94-33C-28H, Antelope, a very nice well;
• 37721, conf, Enerplus, Ermine 151-94-33C_28H, Antelope, a very nice well;
• 37011, conf, CLR, LCU Foster Federal 12-28HSL1, Long Creek, no production data,
  

RBN Energy: global clamor for LNG puts focus on US exports. 

The U.S. and its European allies have been working on ways to move away from Russian energy supplies after Russia’s invasion of Ukraine, with increased LNG exports to Europe expected to play an important role in that transition. And with global demand for LNG at an all-time high, it has put some important U.S. export projects closer to reaching a final investment decision (FID).  But even with U.S. LNG production surging, questions remain about how much more LNG Europe can realistically handle.

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Initial Production

The wells: the Enerplus winter fur pad is tracked here.

• 37724, conf, Enerplus, Lynx 151-94-33C-28H, Antelope,
  

Date	Oil Runs	MCF Sold
2-2022	23886	43699
1-2022	22383	36600
12-2021	48615	70639
11-2021	67151	91095

• 37724, conf, Enerplus, Beaver 151-94-33C-28H, Antelope,
  

Date	Oil Runs	MCF Sold
2-2022	29109	53322
1-2022	34266	56045
12-2021	37660	54735
11-2021	36610	49678

• 37722, conf, Enerplus, Sable 151-94-33C-28H, Antelope,
  

Date	Oil Runs	MCF Sold
2-2022	25001	45715
1-2022	46292	75698
12-2021	45397	65933
11-2021	35348	47630

• 37721, conf, Enerplus, Ermine 151-94-33C_28H, Antelope,
  

Date	Oil Runs	MCF Sold
2-2022	23271	42577
1-2022	37982	62112
12-2021	43095	62609
11-2021	34956	47472