Four Wells Coming Off Confidential List; COP, SRE Beat -- May 5, 2022

The Swedish Covid meme: a reader sent me an update regarding Sweden's experience with Covid. Memo to self: need to provide update. Let's call it fact-checking. Later.  

COP beats: link here.

SRE: huge beat. 

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Back to the Bakken

Active rigs:

$108.10	5/5/2022	05/05/2021	05/05/2020	05/05/2019	05/05/2018
Active Rigs	39	17	25	64	62

Thursday, May 5, 2022: 17 for the month, 82 for the quarter, 242 for one year

• 38242, conf, Ovintiv, Kramer 15-97-18-19-12H, Siverston, no production data,
  
• 37845, conf, Hess, EN-Zunich-156-94-3328H-8, Manitou, nice well, first production, 11/22; t--; cum 125K 3/22;
  
• 34234, conf, Oasis, Borden Federal 5300 34-36 8B, Willow Creek, nice well, first production, 11/21; t--; cum 160K 3/22;
  
• 30259, conf, Hess, EN-Madisyn-LEE-154-94-0705H-1, Alkali Creek, no production data,
  

RBN Energy: an update on the race to add Permian gas pipeline capacity. Archived.

The first Saturday in May is only a couple of days away, so brush off your seersucker jacket or find that Kentucky Derby hat, as it’s the only time of year most Americans watch an actual horse race. That’s kind of how it goes with the Permian natural gas market as well, with only intermittent interest from general gas market participants, usually when there’s a pipeline capacity issue leading to a noticeable impact on prices. Now is one of those times. Permian gas production is racing higher and the pipelines to get gas to market are quickly getting jammed up. Daily prices in the Permian are trading about 10% lower than those in Louisiana and the forward basis markets suggest they will deteriorate further in the months ahead. Naturally, midstream companies are quickly trotting out new pipeline projects, but sorting out the contenders is much like picking the winner on Saturday. You need data and at least a little luck, and we’re here to help out with the former. In today’s RBN blog, we lay out what we know and how we view the Permian gas pipeline derby.