TGIF -- September 30, 2022

The Far Side: link here.

Active rigs: 45.

WTI: $80.44. As expected, now that the hurricane has moved out of the gulf ...

Natural gas: $6.780. Ditto. And Europe looks like it will do just fine this winter ...

Monday, October 3, 2022: 5 for the month, 5 for the quarter, 450 for the year
29791, conf, Hunt Oil, Trulson 156-90-11-14H-3,

Sunday, October 2, 2022: 4 for the month, 4 for the quarter, 449 for the year
36988, conf, Enerplus, Bluegill 149-94-36C-25H-TF,
30922, conf, BR, Saddle Butte 44-9 MBH,
29792, conf, Hunt, Palermo 156-90-2-31H 5,

Saturday, October 1, 2022: 1 for the month, 1 for the quarter, 446 for the year
38715, conf, Ovintiv, Calhoun 149-98-3-10-15H, 

Friday, September 30, 2022: 56 for the month, 106 for the quarter, 445 for the year
38716, conf, Ovintiv, Calhoun 149-98-3-10-7H, Pembroke, see this post;
38334, conf, Oasis, Soto 5097 12-3 3B, Siverston;
37867, conf, Whiting, Maki 11-27HU, the Maki wells are tracked here;
36987, conf, Enerplus, Bass 149-94-36C-25H,
30924, conf, BR, Curtis 44-9 MBH,
30923, conf, BR, Curtis 44-9 TFH, 

RBN Energy: preparations for drilling begin with highly detailed leasing process, part 2. Archived.

In days gone by, the common sentiment in the oil patch when prices rose was “Drill, baby, drill!” 

Not only have times changed, but even back when the phrase was made famous by former Republican Vice-Presidential nominee Sarah Palin in 2008 it vastly oversimplified and understated the efforts required to secure new production. 

It’s easy to overlook how intensive (and time-consuming) the operation at a well site is before even being able to extract any of those precious crude oil, natural gas and NGL molecules found beneath our feet. Prior to hydrocarbon production, well sites must be obtained, tested and developed by exploration and production companies trying to determine their chances of making a reasonable return on their investment. In today’s RBN blog, we take a step-by-step look at the leasing process.

 Part 1: 

The energy industry — everything from oil and gas production and transportation to oil refining, gas processing and NGL fractionation — has a myriad of variables influenced by dozens of factors. It’s a value chain so vast you’d think it would be impossible to explain in simple terms. But behind it all is a well-oiled machine for developing the resources that literally fuel our modern economy. And, by understanding what happens at each link in the value chain, you can ultimately gain a clearer picture of what’s happening in energy markets. In today’s RBN blog, we kick off a series aimed at examining and explaining the oil and gas value chain, starting with the upstream world of exploration and production — what happens in production areas, the types of companies that operate in that segment, and the critical role of oil and gas reserves.