Trans Mountain Expansion Costs Balloon -- May 19, 2023

Locator: 44690PL.

Canada's "Bullet Train." LOL. From oilprice.com:

Canada's Trans Mountain Expansion crude oil pipeline needs more funds as construction costs have skyrocketed, Canada's federal government said on Friday

"Given the significant expenditures expected ... [Trans Mountain Corporation] will require the continued availability of future financing in order to proceed with the project," the Canada Development Investment Corporation (CDEV) said in its 2022 annual report.

The Trans Mountain Pipeline was due for an expansion years ago, but the former owner, Kinder Morgan, was planning on killing in the project so the federal government stepped in and forced Trans Mountain Corporation to finish the project

In 2017, the project was estimated at C$7.4 billion, but by March 2023, the estimated costs had ballooned to a staggering C$30.9 billion—or $22.3 billion.

Staggering? The Canadians haven't seen "staggering" until they've seen the bullet train. LOL. 

But back to the pipeline: at the link above the story continues, and it sounds even worse than the lede. The story has just begun. 

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Back to the Bakken

Chord Energy: to bulk up in the Bakken, divest non-core, Hart Energy. 

Active rigs: 35.

WTI: $71.55.

Natural gas: $2.585.

Two new permits, i#39911 - #39912, inclusive:

• Operator: CLR
• Field: Little Knife (Dunn County)
• Comments:
• CLR has permits for an Arthur well and a Hegler well, SESE 12-146-97; 
• one to be sited 232 FSL and 820 FEL; the other to be sited 200 FSL and 820 FEL.

Three permits renewed:

• XTO: one Edwards Trust Federal and two Satter permits, the former in Haystack Butte, the latter twwo iin Siverston, all in McKenzie County.

Five producing wells (DUCs) reported as completed:

• 38096, 4,030, Enerplus, Brydes 148-93-05D-06H,
• 38097, 3,067, Enerplus, Narwhal 148-93-05D-06H,
• 38115, 1,567, Enerplus, Fin 148-93-05D-06H,
• 38116, 2,837, Enerplus, Right 148-93-05D-06H-LL,
• 38124, 1,860, CLR, Dennis FIU 4-8H,