Silver
Link here for price of silver.
Trending around $20 / ounce. Down from $35 about eighteen months ago and $64 in 2011.
Reminder:
Next local coin show:
- Grapevine, TX
- November 4 - 6, 2022
SLB: on tap for tomorrow.
ISO NY: ? -- nice autumn weather -- demand for heating - a/c should be low and yet, AOC's backyard is experiencing a small jump in price of electricity. Link here.
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Back to the Bakken
The Far Side: link here.
Active rigs: 43.
WTI: $86.98. Up 1.7% overnight; up $1.43.
Natural gas: $5.503.
Friday, October 21, 2022: 26 for the month, 26 for the quarter, 471 for the year.
38603, conf, WPX, Samuel Packineau 8HW,
38858, conf, WPX, Samuel Packineau 8HIL,
RBN Energy: Permian crude leads growth, but will gas processing capacity keep up, part 2. Archived.
Permian crude oil production has climbed ~30% since the lows of 2020 to about 5.2 MMb/d this summer and helped keep crude oil — and gasoline — prices in check as market balances tightened. With that has come a lot of gross gas, which surged by over 40% to 21.3 Bcf/d on average this summer, up from the 2020 low of just under 15 Bcf/d.
If unconstrained by infrastructure, RBN expects that to grow another 30%, or more than 6 Bcf/d, in the next three years, but only if there is adequate midstream capacity — everything from gathering lines to processing plants and, ultimately, gas and liquids transportation lines to deliver the products to consuming markets on the Gulf Coast.
While there’s been a significant midstream build-out over the past two years, and more expansions are in the works, there are major outstanding questions about whether it will get built in time and in the right places to prevent prolonged bottlenecks. In today’s RBN blog, we continue our series focusing this time on upcoming expansions and how total processing capacity stacks up against RBN’s Mid-Case production outlook over the next several years.
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