Thirteen Wells Coming Off Confidential List Over The Weekend -- The Oasis Wells In Williston Reporting Nice Numbers -- October 27, 2023

Locator: 45848B.

Most interesting story this week: so little mainstream business interest in the fact that Buffett is buying more OXY. No one seems to be reporting it. For investors, I think this might be number story this week.

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Back to the Bakken

WTI: $84.00

Sunday, October 29, 2023: 76 for the month; 76 for the quarter, 646 for the year
39720, conf, Kraken Blaine LE 33-28 4H,
38757, conf, Oasis, Dahl W Federal 5301 13-15 4B,  -- "Williston city well"
38095, conf, Enerplus, Blue 148-93-05D-06H,
34633, conf, MRO, Satrum 11-17TFH,
31205, conf, BR, Abercrombie 6-8-12UTFH,

Saturday, October 28, 2023: 71 for the month; 71 for the quarter, 641 for the year
39719, conf, Kraken, Blaine LE 33-28 11H,
38924, conf, Oasis, Kestrel 5401 43-22 4B,
38756, conf, Oasis, Dahl W Federal 5301 13-15 3B,  -- "Williston city well"
38755, conf, Oasis, Dahl W Federal 5301 13-15-2B,  -- "Williston city well"

Friday, October 27, 2023: 67 for the month; 67 for the quarter, 637 for the year
39718, conf, Kraken, Sutton 3-10 6H,
39495, conf, CLR, Thaxton 5-35H,
38094, conf, Enerplus, Ommuura 148-93-05D-06H,
31204, conf, BR, Abercrombie 5-8-12MBH,

RBN Energy: the build-out of Permian gas processing capacity isn't over, not by a long shot.

Continued growth in Permian crude oil production can’t happen without sufficient infrastructure — not just takeaway capacity for crude, natural gas and NGLs but also the capacity to process the fast-increasing volumes of associated gas being produced in the Midland and Delaware basins. The incremental need for processing capacity is enormous, as evidenced by the ongoing, almost frenetic build-out of gas processing plants across the Permian. More than 1.2 Bcf/d of new capacity is slated to come online by the end of this year, with another 1.7 Bcf/d in the first half of 2024 and another 1.8 Bcf/d after that. In today’s RBN blog, we discuss the race to add processing plants in key locations in West Texas and southeastern New Mexico and the drivers behind it. 

Over the past six years, crude oil and natural gas production in the Permian has nearly tripled — yes, tripled! Production in the 70,000-square-mile basin is now averaging an astonishing 6.1 MMb/d (for crude) and 17.1 Bcf/d (for gas), and our forecast suggests those numbers will continue rising at a brisk pace over the next six years as Permian E&Ps become even more efficient and overseas demand for hydrocarbons remains strong. Production growth in the Permian depends on infrastructure — it’s as simple as that — and throughout the basin’s rebirth during the Shale Era midstream companies have been working hand in hand with producers and others to ensure that the gathering systems, gas processing plants, takeaway pipelines and other infrastructure needed are developed.