Update On Spot -- RBN Energy; Eight Wells Coming Off Confidential List Over Easter Weekend -- April 10, 2023

Locator: 44354B.

Zelle vs Venmo: which to use and when. Forbes. October 11, 2022.

**************************
Back to the Bakken

Active rigs: 43

Peter Zeihan newsletter.

WTI: $80.75.

Natural gas: $2.159.

Monday, April 10, 2023: 24 for the month; 24 for the quarter, 279 for the year
38845, conf, Enerplus, Embroider 149-93-05A-8H, these wells are tracked here;
38754, conf, Ovintiv, Clear Creek Federal 152-97-36-25-14H,
36145, conf, BR, Phantom Ship 1B UTFH,

Sunday, April 9, 2023: 21 for the month; 21 for the quarter, 276 for the year
38764, conf, Whiting, Locken Federal 12-11TFX,
38753, conf, Ovintiv, Clear Creek Federal 152-97-36-25-13H,
38666, conf, Enerplus, Eyelet 149-93-05A-08H, these wells are tracked here;

Saturday, April 8, 2023: 18 for the month; 18 for the quarter, 273 for the year
38865, conf, Liberty Resources, CA S 158-93-21-23-4MBHX,
38440, conf, Hess, EN-Sable-157-93-3534H-5, these wells are tracked here;

Friday, April 7, 2023: 16 for the month; 16 for the quarter, 271 for the year
38846, conf, Enerplus, Patch 149-93-05A-08H, these wells are tracked here;
38752, conf, Ovintiv, Clear Creek Federal 152-97-36-25-7H,

RBN Energy: Why SPOT will change everything in the U.S. crude oil export market. Archived.

See The Guardian's take on this export terminal and others:

The Biden administration's plan to potentially allow four new oil terminals along the Texas Gulf Coast would unleash a "carbon bomb" potentially equivalent to three years of all U.S. emissions and belie President Joe Biden's stated intent to "act boldly on climate," according to an analysis published on Tuesday, February 21, 2023..

The analysis—which was conducted for The Guardian by Global Energy Monitor, a San Francisco-based NGO that tracks fossil fuel projects around the world—found that if all four terminals are built and operate at full capacity for their expected 30-year lifespan, they will generate a staggering 24 billion metric tons of greenhouse gases.

According to The Guardian:

The federal government has already quietly approved the Sea Port Oil Terminal project, a proposed offshore oil platform located 35 miles off the Texas coast, south of Houston, and will decide whether to allow three other nearby oil terminal proposals.

Combined, the four terminals would expand U.S. oil exports by nearly seven million barrels every day, handling the capacity of half of all current national oil exports.

"The amount of oil going through these projects, and the resulting emissions, are pretty astounding," said Global Energy Monitor analyst Baird Langenbrunner.

Sea Port Oil Terminal (STOP), the largest of the projects, would produce an estimated seven billion metric tons of annual greenhouse emissions, followed by Bluewater Texas (6.7 billion metric tons), Blue Marlin (6.6 billion), and Texas GulfLink (3.8 billion).

In 2019, U.S. emissions totaled 6.6 billion metric tons, according to the analysis.

"Even if the emissions are a bit lower... we are fast-forwarding ourselves to the date where we have to stop completely emitting," said Langenbrunner.

"Any extra emissions are in direct conflict with climate goals and it's hypocritical for the Biden administration to allow these things to get built and then say the U.S. wants to decrease its own emissions."

SPOT was approved by the Biden administration last November over the strong objections of climate, environmental, and other campaigners. As currently planned, the project would consist of several pipelines—the longest of them 50 miles long—storage tanks, and a deepwater oil export platform. Last month, green and community groups sued the U.S. Department of Transportation's Maritime Administration (MARAD) over its approval of SPOT. 

From RBN Energy link above:

If you think, as we do, that (1) U.S. crude oil production is likely to increase by 1.5 to 2 MMb/d over the next five years, (2) almost all those barrels will be light-sweet crude that needs to be exported, and (3) exporters will overwhelmingly favor the marine terminals that can accommodate Very Large Crude Carriers (VLCCs), it would be hard to ignore the game-changing impacts that Enterprise Products Partners’ planned Sea Port Oil Terminal could have. SPOT, which could be completed as soon as 2026, will have robust pipeline connections from the Permian and other shale plays and be capable of fully loading a 2-MMbbl VLCC in one day, enough to handle virtually all the incremental exports we’re likely to see over the next five years.

In today’s RBN blog, we discuss the fast-increasing role of VLCCs in U.S. crude oil exports and the potentially seismic impacts of the SPOT project. RBN’s middle-of-the-road “Mid” forecast sees U.S. crude oil production increasing to 14 MMb/d by 2028, about 2 MMb/d higher than the 2022 average, with three-quarters of that incremental output coming from the Permian and most of the rest from other shale plays that also produce high-API-gravity, low-sulfur oil. Given that U.S. refineries’ ability to economically process light-sweet crude is essentially maxed out, it’s a good bet that almost all those incremental barrels will be bound for export terminals along the Gulf Coast. At’s just as likely that, on their way to overseas refineries, as many of those barrels as physically possible will be headed through terminals like the Enbridge Ingleside Energy Center (EIEC) and South Texas Gateway (STG) — both in the Corpus Christi area — whose docks can receive and load VLCCs with minimal reverse lightering, the most cost-effective way to move massive volumes of oil to Europe and Asia.