WTI Trending Toward $82 -- Two Wells Coming Off Confidential List -- January 18, 2023

Keeping the links: link here.

• Inflation:
• ten "things" that decreased in price in 2022, despite inflation; including bacon. 
• high price of eggs, lettuce, not due to inflation -- don't take that out of context;
  
• Oil demand  
• under-supply by end of 2023;
• IEA sees global demand for oil hitting a record high in 2023;
• and folks tell me that US shale production growth will slow. 
• by the way, most recent report, month/month: no oil released from SPR;
  

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Back to the Bakken

Active rigs:

• 42
• Bowline: 1
• BR: 2 -- including a Lillibridge;
• CLR: 8 -- including a Brangus Federal and a Brangus FIU; two Micahlucas wells;
• Crescent Point: 2
• Enerplus: 2
• Grayson Mill: 3
• Hess: 4
• Hunt: 1
• Kraken: 2
• Liberty Resources: 1
• MRO: 3
• Oasis: 3
• Ovintiv: 2
• Petro-Hunt: 1 -- Hot Rod, McKenzie; #39293;
• Sinclair: 1
• Slawson: 2 -- Armada Federal, Mountrail; Loon Federal, Mountrail
• Stephens Williston: 1 -- Greenbrier, Mountrail
• Whiting: 1
• WPX: 2

Petro-Hunt: three Hot Rod wells on the pad in SWNW 27-149-102; Boxcar Butte;

• 22834, 1,208, Petro-Hunt, Hot Rod 1-27-26H, Boxcar Butte, t9/13; cum 162K 11/22;
• 39293, ros, Petro-Hunt, Hot Rod 149-102-27B-26-2H, Boxcar Butte,
• 39294, conf, Petro-Hunt, Hot Rod 149-102-27C-26-3H, Boxcar Butte,
• no wells of interest in the area;
• to the south, parallel:
• 20394, 433, White Rock, Haugen 13X-34, Boxcar Butte, t10/11; cum 92K 11/22;

Flickertail state news: link here.

WTI: $81.77. Up almost 2%; up $1.59.

Natural gas: $3.435.

Thursday, January 19, 2023: 39 for the month; 39 for the quarter, 39 for the year
39014, conf, Kraken, Wilhelm LE 16-21 1H,
38688, conf, Slawson, Armada Federal 4 SLTFH,
38015, conf, Petroshale, Sacagawea Federal 4MBH,
27896, conf, CLR, Jersey FIU 13-6H,

Wednesday, January 18, 2023: 35 for the month; 35 for the quarter, 35 for the year
38412, conf, Whiting, Kannianen 11-5-2THU,
27895, conf, CLR, Jersey FIU 12-6H1,

RBN Energy: Energy Transfer's Gulf Run pipeline expands critical Louisiana LNG feedgas corridor. Archived.

If pipeline-constrained Haynesville Shale producers’ New Year’s resolution was to grow volumes, they just got a big boost: Energy Transfer recently placed in service its new Gulf Run Transmission natural gas pipeline in Louisiana, increasing north-to-south capacity in the state by 1.65 Bcf/d. It’s the first of several pipeline projects due online in 2023 — and among others proposed for subsequent years — that will be critical for debottlenecking the Louisiana pipeline network and connecting Haynesville and other gas production volumes to LNG export projects vying for feedgas supply on the Louisiana coast.

U.S. LNG developers are in a race to capitalize on the tight global LNG market and finalize terminal plans, with much of the next wave of liquefaction and export capacity additions planned for the Louisiana coast which may, in time, help alleviate energy security concerns, particularly across the pond in Europe.

If these pipeline projects don’t get built on time, the resulting supply shortage in southern Louisiana would not only wreak havoc on Henry Hub and the domestic gas market but would reverberate around the globe. Gulf Run’s in-service is good news for at least one facility: the under-construction Golden Pass LNG, which is the anchor shipper on the pipeline and due to begin commissioning later this year. In today’s blog, we look at what the new capacity could mean for flows and production growth in the short- and long-term.

I'm still reminded of the reader, some years ago now, who wrote to tell me, all these LNG export terminals would not be built; it was all "pie in the sky."