Before we get started: hurricane update:
- Fiona will hit the usual Caribbean islands, but will miss US landfall by a large margin
- Fiona: only the sixth-named tropical storm this year to date
Under-investment: Wow, this has been a consistent theme on the blog for years. Link here.
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Back to the Bakken
The Far Side: link here.
WTI: already doown 1.5% and the trading day has not even begun. Trading at $83.84.
Natural gas: $7.642. Maybe this winter won't be as bad as "everyone" thinks it will be.
Tuesday, September 20, 2022: 30 for the month, 80 for the quarter, 419 for the year
38726, conf, Slawson, Cannonball Federal 1 SLH,
Monday, September 19, 2022: 29 for the month, 79 for the quarter, 418 for the year
38727, conf, Slawson, Sauger Federal 4-22H,
Sunday, September 18, 2022: 28 for the month, 78 for the quarter, 417 for the year
None.
29784, conf, Zavanna, Galloway 18-30 4H,
29292, conf, Slawson, Phoenix 3-18H,
RBN Energy: natural gas production hits 100 Bcf/d but is no match for record demand.
Lower 48 natural gas production this month hit a once-unthinkable milestone, topping the all-important psychological threshold of 100 Bcf/d for the first time.
Volumes have remained at record highs through mid-September, with year-on-year gains expanding to a breathtaking 7-9 Bcf/d above last year at this time (when hurricane-related shut-ins were in effect).
The record production levels coincided with a seasonal decline in weather-related demand, as well as the ongoing outage at the Freeport LNG export terminal.
Remarkably, however, even with all-time high, ~100 Bcf/d natural gas production and Freeport LNG offline, the Lower 48 gas market balance averaged tighter year-on-year — a testament to just how strong consumption has been lately, and for much of this summer for that matter. In today’s blog, we look at how the supply-demand balance has shaped up this month and where it’s headed near-term.
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