Locator: 50487B.
NetJets: there were a lot of golfers wearing "NetJets" insignia yesterday at the Masters.
NetJets is owned by Berkshire Hathaway, the conglomerate led by Warren Buffett. Berkshire Hathaway acquired the company in 1998, and it has since become a cornerstone of their portfolio, offering premier fractional aircraft ownership and private aviation services.
NetJets passengers avoid standard TSA lines by using private Fixed-Base Operators (FBOs) instead of main airport terminals. They bypass crowded security checkpoints and proceed directly to their aircraft, undergoing only minimal identification verification or baggage checks by private security personnel or pilots.
Memo to self, today:
- tech: the two big stories right now:
- training, AWS, Trainium;
- TSMC --
- nothing new, just a reminder
- Broadcom's TPUs, Google --
- nothing new, just a reminder.
- memory
- the end of the WTO;
Another headline: Yet another story pointing out how the world is preparing to move away from reliance on Mideast oil. Saudi's worst nightmare.
No tears for Saudi. These were the same guys that tried to destroy fracking years ago. What goes around, comes around.
Natural gas: fracking and the US -- all of a sudden, fracking isn't so bad. EU says the rules stay in place -- they simply aren't enforcing them.
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Back to the Bakken
WTI: $98.88. Next week, back over $100?
New wells reporting:
- Sunday, April 12, 2026: 30 for the month, 30 for the quarter, 187 for the year,
- 42177, conf, BR, Omlid 3-8-7 TFH,
- 41927, conf, Formentera Operations, Wildcat Hollow-16-33-PGN S512HF,
- 41159, conf, Hess, BW-Sharen Lynor-149-100-2032H-3,
- Saturday, April 11, 2026: 27 for the month, 27 for the quarter, 184 for the year,
- 41504, conf, Hess, RS-Piepkorn-155-92-1208H-1,
- Friday, April 10, 2026: 26 for the month, 26 for the quarter, 183 for the year,
- 42181, conf, BR, Abercrombie 2-12UTFH,
- 40821, conf, Hunt Oil, Oakland 154-89-29-32H 1
- 40820, conf, Hunt Oil, Oakland 154-89-19-18H 3,
- 40635, conf, Hunt Oil, Oakland 154-89-32-5H-1,
RBN Energy: with production on the rise, several pipelines in the works to move Canadian crude to the US. Link here. Yet another story pointing out how the world is preparing to move away from reliance on Mideast oil. Saudi's worst nightmare. Archived. The first company mentioned: Enbridge?
As crude oil production continues to grow in the Western Canadian Sedimentary Basin (WCSB), more pipeline capacity will be needed to move it to market. The startup of the 590-Mb/d Trans Mountain Expansion (TMX) in May 2024 temporarily created a period of surplus takeaway capacity, but that is shrinking and more will soon be needed, as WCSB crude production typically grows by 100 to 200 Mb/d annually, and there is no shortage of resource to develop. Thankfully, some new capacity is on its way in 2026 and 2027, and much more is being planned. In today’s RBN blog, we go through all the projects in the works.
In Part 1 of this series, we discussed the drivers behind WCSB crude oil production nearly doubling from 2010 to 2025, as well as its seasonal trends. In Part 2, we reviewed the major pipeline projects that expanded capacity to move barrels out of the WCSB up to this point, how the timing of those projects matched up with supply growth, and current export pipeline capacity. In Part 3, we examined how WCSB crude oil price discounts are impacted by pipeline scarcity and production seasonality. And in Part 4, we looked at where WCSB crude oil goes, how it gets there, and how its end markets have evolved over time.
Once again, we’ll start this blog off by orienting ourselves with a map that shows the key existing pipelines that move crude oil out of the WCSB, which include:
- Enbridge’s 3.22-MMb/d Mainline system (light-pink lines in Figure 1)
- The Canadian government’s 890-Mb/d Trans Mountain Pipeline System (TMPS; purple line at top left)
- South Bow’s 610-Mb/d Keystone Pipeline System (medium-blue line in middle)
- Enbridge’s Express-Platte Pipeline System (dark-pink line; 310 Mb/d of export capacity)
- Inter Pipeline’s ~98-Mb/d Bow River/Milk River pipeline system (light-green lines near top left)
- Plains’ ~20 Mb/d Rangeland/Aurora pipeline system (dark-green lines near top left)
Figure 1. Major Pipeline Systems Moving WCSB Crude Oil. Source: RBN
