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Friday, July 21, 2023

Three Wells Coming Off Confidential List Today; WTI Above $76 -- July 21, 2023

Locator: 45176B.

WTI
:$76.50.

Monday, July 24, 2023: 81 for the month; 189 for the quarter, 444 for the year
39507, conf, CLR, Vance 2-14H,

Sunday, July 23, 2023: 80 for the month; 188 for the quarter, 443 for the year
39135, conf, Iron Oil Operating, Antelope 2-33-28H,

Saturday, July 22, 2023: 79 for the month; 187 for the quarter, 442 for the year
None.

Friday, July 21, 2023: 79 for the month; 187 for the quarter, 442 for the year
39357, conf, CRL, Vance 6-14H,
38685, conf, Hess, GO-Ron Viall-156-98-2513H-2,
35020, conf, BR, Lillibridge 1A MBH, 

RBN Energy: how will steeper tolls on Trans Mountain impact crude flows

Western Canada’s Trans Mountain Expansion Project, better-known as TMX, has experienced more than its share of setbacks over the past 10 years: environmental protests, legal challenges, financing issues, an ownership change, and even a serious flooding event in 2021. [But at least it's being completed? Compare the Keystone XL?]

But it seems the 590-Mb/d expansion of the now-300-Mb/d Trans Mountain Pipeline (TMP) system will finally become a reality by early 2024, enabling large-scale exports of Alberta-sourced crude oil to Asian markets. There’s a catch, though. The project’s long delays and other issues resulted in massive cost overruns that are now being reflected in the preliminary tolls for the soon-to-be-combined Trans Mountain system. The proposed toll increase is so large that it will cost a similar amount to ship heavy crude oil to tidewater on Trans Mountain as it would on the competing Enbridge system to the U.S. Gulf Coast for “re-export,” despite the latter being three times the distance. In today’s blog, we discuss the history of the Trans Mountain expansion, its cost overruns and the calculations that went into the proposed tolls — the kicker being that those tolls could end up being even higher.

It would be safe to say that no other crude oil pipeline project in Canadian history has seen as much scrutiny, analysis, legal and environmental challenges — and immense cost overruns — as TMX.  Intended to nearly triple the crude oil shipping capacity of the existing TMP system, the expansion appears to be inching closer to final completion with the recent submission of preliminary tolls (referred to as tariffs in the U.S.) that would be applied to shippers on the combined TMP/TMX system once the expansion is in operation.

Monthly DUC Report -- July 21, 2023

Locator: 45175DUCS.

From a reader, thank you, very much. 

Monthly "DUC" report.

Monthh

Bakken


Drilled

Completed

DUC

Dec-13

--

--

603

Jan-14

174

143

634

Feb-14

214

158

690

Mar-14

216

218

688

Apr-14

220

207

701

May-14

216

208

709

Jun-14

237

225

721

Jul-14

257

243

735

Aug-14

229

207

757

Sep-14

250

232

775

Oct-14

186

243

718

Nov-14

209

202

725

Dec-14

224

194

755

Jan-15

197

193

759

Feb-15

230

151

838

Mar-15

182

170

850

Apr-15

142

127

865

May-15

124

139

850

Jun-15

110

135

825

Jul-15

102

124

803

Aug-15

111

101

813

Sep-15

99

92

820

Oct-15

118

84

854

Nov-15

100

89

865

Dec-15

98

78

885

Jan-16

71

80

876

Feb-16

61

41

896

Mar-16

68

45

919

Apr-16

43

39

923

May-16

46

59

910

Jun-16

42

54

898

Jul-16

45

56

887

Aug-16

53

82

858

Sep-16

49

66

841

Oct-16

59

85

815

Nov-16

61

86

790

Dec-16

53

49

794

Jan-17

62

52

804

Feb-17

51

58

797

Mar-17

78

71

804

Apr-17

78

104

778

May-17

94

82

790

Jun-17

76

105

761

Jul-17

95

103

753

Aug-17

99

110

742

Sep-17

98

97

743

Oct-17

104

110

737

Nov-17

93

86

744

Dec-17

77

65

756

Jan-18

107

72

791

Feb-18

74

74

791

Mar-18

95

90

796

Apr-18

109

110

795

May-18

124

131

788

Jun-18

108

118

778

Jul-18

134

155

757

Aug-18

108

138

727

Sep-18

108

122

713

Oct-18

120

118

715

Nov-18

110

99

726

Dec-18

108

70

764

Jan-19

120

71

813

Feb-19

108

56

865

Mar-19

111

110

866

Apr-19

118

112

872

May-19

127

127

872

Jun-19

118

149

841

Jul-19

122

122

841

Aug-19

122

144

819

Sep-19

110

88

841

Oct-19

116

108

849

Nov-19

96

88

857

Dec-19

94

86

865

Jan-20

99

98

866

Feb-20

94

100

860

Mar-20

94

108

846

Apr-20

69

33

882

May-20

33

14

901

Jun-20

18

11

908

Jul-20

18

22

904

Aug-20

19

27

896

Sep-20

18

51

863

Oct-20

19

41

841

Nov-20

20

31

830

Dec-20

20

51

799

Jan-21

20

41

778

Feb-21

19

24

773

Mar-21

25

45

753

Apr-21

27

47

733

May-21

29

62

700

Jun-21

31

33

698

Jul-21

32

66

664

Aug-21

39

69

634

Sep-21

42

79

597

Oct-21

43

78

562

Nov-21

46

68

540

Dec-21

52

50

542

Jan-22

53

35

560

Feb-22

64

49

575

Mar-22

66

68

573

Apr-22

58

39

592

May-22

75

61

606

Jun-22

75

80

601

Jul-22

75

84

592

Aug-22

76

88

580

Sep-22

78

85

573

Oct-22

77

92

558

Nov-22

79

71

566

Dec-22

80

62

584

Jan-23

80

91

573

Feb-23

80

93

560

Mar-23

80

93

547

Apr-23

79

91

535

May-23

74

84

525

Jun-23

70

80

515