Four New Permits -- WTI Bounces Back -- November 22, 2022

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• Sempra confirmed Tuesday it reached a 20-year supply deal with ConocoPhillips to provide 5M metric tons/year of liquefied natural gas from Phase 1 of the proposed Port Arthur LNG project under development in south Texas.
• ConocoPhillips also will acquire 30% of the equity in Phase 1 of Port Arthur LNG and will manage the feedgas supply requirements for Phase 1 of the proposed liquefaction facility.
• The planned $10.5B Phase 1 would be capable of producing as much as ~13.5M metric tons/year of liquefied natural gas, with cargoes expected to be delivered starting in 2027; a similarly sized Port Arthur LNG Phase 2 project also is under active marketing and development.
• Sempra said recently it is expecting to make a final investment decision for Phase 1 in Q1 2023.

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Back to the Bakken 

Active rigs: 37.

WTI: $81.30.

Natural gas: $6.958.

Four new permits, #39427 - #39430, inclusive:

• Operators: Hunt Oil (2); Petro-Hunt (2)
• Fields: Green Lake (Williams); Boxcar Butte; Moline
• Comments:
• Hunt has permits for two Blue Ridge wells, lot 2 section 5-159-100, to be sited 480 FNL with one at 2331 FEL and one at 2301 FEL
• Petro-Hunt has permits for two wells, both SESE 33-149-102, to be sited 420 FSL with one at 735 FEL and onee at700 FEL.