21st Century -- America's Century -- NatGas -- March 13, 2023

Link here.

Actual and projected EXPORTS:

Actual and projected capacity; note -- this does not include Plaquemines -- link here.

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At Her Desk

New desk in the "Bat Cave."

Crescent Point Energy With Five New Permits -- March 13, 2023

For investors: incredibly bullish -- but counter-intuitive -- and depends on one's timeline -- let's see where we're at May 22, 2023

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Back to the Bakken

Active rigs: 43.

WTI: $74.73.

Natural gas: $2.625.

Five new oil and gas permits: #39730 - #39734, inclusive:

• Operator: Crescent Point Energy
• Field: Little Muddy (Williams)
• Comments:
• Crescent Point Energy has permits for five CPEUSC wells -- McQuarters, Walters, Suitor, and two Getzlaf permits;

Plaquemines LNG -- Phase II -- March 13, 2023

Updates

December 15, 2024: Plaquemines up and running. Link here. 

Later, 8:01 p.m. CT: link here. Archived.

Original Post 

See this note from December 6, 2021.

Link here.

ICYMI -- The 21st Century -- America's Century -- March 13, 2023

Updates

March 13, 2023: link here.

• Boeing expected to win order for about 80 Dreamliners in Saudi deal
• new carrier Riyadh Air expected to commit to purchasing 39 Boeing Dreamliners
• existing carrier Saudia expected to order 39 Boeing 787s
• Saudi Aramco
• free cash flow, 2022: $150 billion
• cost of a Dreamliner: $100 milllion
• $150 billion / $100 million = 1,500 Dreamliners
  

Original Post 

Link here.

Update On Spacing In The Bakken -- March 13, 2023

Loosely speaking, in general, the "standard" drilling unit in the Bakken is now two sections / 1280-acre. 

I don't check the spacing units on all new permits / wells, so I may not catch permits / wells with spacing other than 1280-acre / two sections.

If this is a multi-well pad, most of those wells these days will be 1280-acre spacing. Section line wells are generally double the drilling spacing of the other wells on that pad. 

For example:

• if the majority of wells on a pad are 1280-acre spacing, the a section line well from that pad will generally be a 2560-acre spacing well.
• if the majority of wells on a pad are three sections / 1920-acres, a section line well from that pad will generally be a 3840-acre spacing well. 

Again, in general, but there will be exceptions, and I will often miss them.

One can generally identify a section line well by the legal name of the well. 

Not yet the norm, but more and more Bakken wells are going to be extended long laterals, "three-mile" laterals; three-section spacing / 1920-acre spacing.