Two Wells Coming Off Confidential List Today -- WTI Holds Above $79? July 26, 2023

Locator: 45208B.

Weekly EIA petroleum report, link here:

• US crude oil in storage: is now 2% above the five-year average. Shaking my head.
• US refiners operating full out, at 93.4% capacity.
• distillate fuel inventories at 14% below their five-year average, but we've been "here" for "ages." In other words, status quo, no change.
  
• jet fuel supplied hardly moved.
• WTI unchanged after the report was released;
  

Saudi, oil imported by US: four conscecutive months in which Saudi imports are lower each month compared to same one month earlier. Happens occasionally but when Saudi imports are this low, it's even more remarkable. Link here.

Mars crude: something going on? And, here.

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Back to the Bakken

WTI: $79.10 -- a pleasant surprise.

Thursday, July 27, 2023: 86 for the month; 194 for the quarter, 449 for the year 
None.

Wednesday, July 26, 2023: 86 for the month; 194 for the quarter, 449 for the year
39509 conf, CLR, Vance 4-14H,
39476 conf, Ovintiv, Newman 150-97-21-16-6HR, 

RBN Energy: pipeline expansions key to unlocking second wave of LNG exports.

The bulk of the second wave of U.S. LNG export projects will be situated along a small stretch of the Gulf Coast, from Port Arthur at the Texas-Louisiana border to the Mississippi River in southeastern Louisiana. Three of these projects — Golden Pass LNG, Port Arthur LNG and Plaquemines LNG — are under construction there and will add nearly 7 Bcf/d of new gas demand by 2028, and others could reach a final investment decision (FID) in the coming months or years. That’s prompted a frenzy of natural gas pipeline projects vying to serve this growing demand center, whether by moving incremental supply into the area or providing “last mile” delivery to the terminals. These pipeline expansions — and how well the incremental capacity, geography and timing align with liquefaction capacity additions — will drive the pace of overall gas demand growth and how the Lower 48 gas market will balance in the coming years.