Title : WTI Moving Up A Bit; Rigs In North Dakota Steady At 62 -- August 23, 2018
link : WTI Moving Up A Bit; Rigs In North Dakota Steady At 62 -- August 23, 2018
WTI Moving Up A Bit; Rigs In North Dakota Steady At 62 -- August 23, 2018
Gasoline demand: yesterday afternoon -- US EIA says US Gulf Coast gasoline stocks build as refining holds above historic norms. Refiners have been operating at or near 98.1% capacity for several weeks now.Gasoline demand: is a red herring, 2016 --- Forbes -- from the columnist who forecast the death of the Bakken, Art Berman.
BABA: not ABBA. Up 3% in pre-market trading on 61% surge in revenues y/y.
Disclaimer: this is not an investment site.
Poll, results in which we asked about corporate earnings every six months instead of quarterly:
- yes: 55%
- no: 45%
- Comment: I thought it would be closer to 10%, yes; 90% no. I am quite surprised.
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Back to the Bakken
Wells coming off confidential list today --
Thursday, August 23, 2018
34231, conf, CPEUSC, CPEUSC Elena 8-22-15-157N-100W TFH, Marmon,
33230, conf, CLR, Vardon 4-14H, Siverston,
24620, conf, MRO, Coburn USA 41-30TFH, Reunion Bay,
Active rigs;
| $67.98↑ | 8/23/2018 | 08/23/2017 | 08/23/2016 | 08/23/2015 | 08/23/2014 |
|---|---|---|---|---|---|
| Active Rigs | 62 | 53 | 31 | 76 | 192 |
RBN Energy: the crude hub at Cushing: what was, what is, and will will be.
The crude oil storage and distribution hub in the small town of Cushing, OK, is a marvel. With more than 90 MMbbl of tankage, 3.7 MMb/d of incoming pipeline capacity and 3.1 MMb/d of outbound pipes, Cushing’s nickname — “Pipeline Crossroads of the World” — is spot-on, not hyperbole. However, like a lot of other U.S. energy infrastructure in the Shale Era, Cushing’s role has been in flux. Permian oil production has been surging, the ban on U.S. oil exports is a fading memory, and the Gulf Coast — not Cushing — is where most U.S. crude production wants to go, for its concentration of refineries and export docks. That is not to say that Cushing is no longer important. Far from it. Today, we begin a blog series on how Cushing’s role has been morphing and why the Sooner State trading hub still provides critical support to producers, midstream companies and refineries alike.
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