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Title : Missed It By A Day; I Thought WTI Would Hit $69/Bbl Yesterday; Hit THat Mark This A.M. -- August 29, 2018
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Missed It By A Day; I Thought WTI Would Hit $69/Bbl Yesterday; Hit THat Mark This A.M. -- August 29, 2018

No wells come off the confidential list today: there was no February 29 six months ago. Having said that, three "fun" stories posted overnight:

• big day in Burnaby tomorrow
• "happy birthday" to some very old (Madison) wells in North Dakota 
• a short lateral EOG Parshall well goes over one million bbls cumulative 

Active rigs:

$69.06↑	8/29/2018	08/29/2017	08/29/2016	08/29/2015	08/29/2014
Active Rigs	60	53	30	76	194

RBN Energy: the Northeast's changing role as US natural gas supplier.

The U.S. Northeast’s reign on natural gas supply growth has factored heavily into broader U.S. gas supply-demand dynamics ever since the Marcellus/Utica shales burst onto the production scene.

This year is no different.

Lower-48 gas production in 2018 to date has averaged 8 Bcf/d higher year-on-year.

Nearly 50% of that growth has come from the Northeast, and, what's more, the bulk of that incremental supply has flowed out of that region, flooding markets in neighboring areas.

Now, the Marcellus/Utica is in the midst of yet another major inflection point.

After years of perpetual pipeline constraints, pipeline utilization data indicates that some Northeast takeaway pipelines have a little bit of capacity to spare — a trend that has major implications for regional pricing relative to downstream markets. At the same time, more pipeline expansions are on the horizon that promise to bring on even more gas supply from Marcellus/Utica producers. (Just last Thursday, Energy Transfer’s Rover Pipeline was approved to begin service on its final two laterals — Majorsville and Burgettstown — and Williams’s Atlantic Sunrise expansion of Transco Pipeline is due for completion within weeks.)

What does this new reality look like and what does it mean for the broader U.S. gas market? Today, we begin a short series providing our latest analysis of the Northeast gas market, starting with how it fits into the current U.S. supply-demand picture.

https://ift.tt/2dZyQXu

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