Title : Look At The Incredible Permian Pipeline Buildout -- August 28, 2018
link : Look At The Incredible Permian Pipeline Buildout -- August 28, 2018
Look At The Incredible Permian Pipeline Buildout -- August 28, 2018
Pipelines: this is pretty cool. This past year there has been a lot of hand-wringing about lack of takeaway capacity in the Permian. I said a few weeks ago that free-market capitalism would solve this problem: not to worry. Now, from oilprice: the Permian could soon have too much pipeline capacity.OPEC: there story keeps changing. Now "they" say OPEC+ cut July output by 9% more than agreed upon. OPEC is certainly not irrelevant but ...
Speaking of OPEC, LOL -- Saudi Aramco -- now that the IPO is dead -- something movers and shakers knew from the beginning -- Elon Musk (Tesla) and Prince Salman (Vision 2030) would have been a good fit -- now, and I can't make this up, Saudi Aramco wants to become a found of ideas. From the WSJ:
Saudi Arabia’s state oil company is working to turn itself into an innovation powerhouse while its much-delayed plans to go public remain on hold.
The U.S. Patent and Trademark Office granted Saudi Arabian Oil Co., better known as Aramco, 230 patents last year, four times as many as in 2013 when it racked up just 57. That placed Aramco third among oil-and-gas exploration and production companies that year, far behind Exxon Mobil Corp. but close to Chevron Corp.
Aramco’s most recent patents have included fluids to break rocky oil formations using micro-particles, a docking station for mobile robots deployed in oil fields and techniques to remove carbon from fuels.
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Back to the Bakken
Wells coming off confidential list today (these will be the last wells coming off confidential this week. No new wells coming off the confidential list (except the following) until Sunday:
Tuesday, August 28, 2018
34233, conf, Crescent Point Energy, CPEUSC Elena 3-22-15-157N-100W MBH, Marmon, no production data,
33926, conf, MRO, Cantrill USA 11-29TFH, Reunion Bay, no production data,
33229, conf, CLR, Vardon 5-14H1, Siverston, a huge well; 80K in less than four months;
Active rigs:
| $68.86→ | 8/28/2018 | 08/28/2017 | 08/28/2016 | 08/28/2015 | 08/28/2014 |
|---|---|---|---|---|---|
| Active Rigs | 61 | 55 | 30 | 76 | 195 |
RBN Energy: Permian oil, gas and NGLs target export markets.
It seems like everyone wants production out of the Permian these days — at least everyone who works for a pipeline company.
The addition of five major greenfield crude oil pipes plus a host of expansion projects could bring Permian takeaway capacity up to 8.0 MMb/d from only 3.3 MMb/d today, with almost all of the incremental barrels destined for export markets. It’s a similar story for natural gas, with seven new pipes in the works to bring 2.0 Bcf/d each to Corpus Christi, Houston, or Louisiana, again with most of the molecules targeting exports.
Not to be left behind, at least 27 new Permian gas processing plants are in development, and five new pipeline projects could bring 1.6 MMb/d of y-grade NGLs to the Gulf Coast. It’s a darned good thing that everyone in the global energy markets wants all that Permian production, right? What will this mean for the Permian and, for that matter, for the rest of the U.S. and the world? The only way to answer that question is to get the major players together under one roof and figure it out. That’s the plan for PermiCon 2018. Warning! Today’s blog is a not-so-subliminal advertorial for our upcoming conference.
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