Title : Back To 64 Rigs -- September 6, 2018
link : Back To 64 Rigs -- September 6, 2018
Back To 64 Rigs -- September 6, 2018
Peak demand? What peak demand? Now OPEC says global demand will hit 100 million bopd sooner than expected. Link here. Can you imagine how beholden the world (and the US) would be to Putin and Saudi Arabia had there not be a fracking revolution in the US. Scary.My favorite company: EPD breaks ground on yet another NGL expansion. Link here. Data points:
- fractionater adjacent to its complex in Mont Belvieu, TX
- the company's tenth NGL fractionator at Mont Belvieu
- 150,000 bbls per day
- to enter service 1Q20
- will raise EPD's Mont Belvieu fractionation capability to almost 1 million bopd
- will raise company's total fractionation capacity to just under 1.5 million bopd
- the latest expansion at Mont Belvieu represents a departure for Enterprise because the new fractionator will be able to process dramatically larger volumes of NGL than each of the series of units installed before it
EPD: considering a new gas plant in east Texas. Data points:
- $125 million natural gas processing facility
- 200 million cf/d
- Panola County, TX
- construction to being 4Q18 (end of this year); in service 4Q19
Meanwhile, back in Burnaby: taking a bold step, Justin Trudeau says Canada might appear ruling that killed the Trans Mountain. Really? "Might." The appeal should have been prepared before the ruling and dropped on the appellate court in a New York minute. Remember: Trudeau knew that the Trans Mountain faced the same issue that killed the Enbridge Northern Gateway, and was being adjudicated by the same judge. Eh, what just happened?
Car sales: when I think Toyota, I think Prius, green, and EV; when I thing Ford, I think SUV. August sales: Ford sales up 4.1%; Toyota US sales drop 2.0%. EV sales for August, link here. Tesla doing surprisingly well:
- Tesla Model 3: 17,800 (goal, 5,000 / week = 20,000)
- Tesla Model S: 2,625 (2,100 one year ago)
- Tesla Model X: 2,750 (1,575)
- Toyota Prius Prime: 2,071 vs 17,800 Tesla Model 3 -- wow, wow, wow -- why is TSLA stock down?
- Chevy Volt: 1,825
- Chevry Bolt: 1,225
- Nissan Leaf: 1,315
- Chrysler Pacific hybrid: 654
- But look at the 17,800 for Tesal Model 3 -- blowing away any other individual competitor
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Back to the Bakken
One well coming off confidential list today:
Thursday, September 6, 2018
33924, conf, MRO, Skadeland USA 31-30TFH, no production data,
Active rigs:
| $68.84→ | 9/6/2018 | 09/06/2017 | 09/06/2016 | 09/06/2015 | 09/06/2014 |
|---|---|---|---|---|---|
| Active Rigs | 64 | 56 | 33 | 75 | 196 |
RBN Energy: have northeast natural gas supply prices turned a corner?
The Marcellus/Utica region is in the midst of a major turning point. Natural gas production from the region continues to post record highs. But regional basis differentials to Henry Hub are the strongest they’ve been at this time of year since 2013. Spot prices at Dominion South — the representative location for the overall Marcellus-Utica supply — averaged at a $0.35/MMBtu discount to Henry Hub this August, compared with a $1-plus discount to Henry in each of the past four years. The deep discounts in previous years reflected the inadequate takeaway capacity and the resulting pipeline constraints to get gas out of the region. Now, basis shifts suggest those constraints are easing somewhat — a trend that will redefine pricing relationships across the broader gas market. In today’s blog, we continue a series examining the changing flow and price dynamics in the Northeast gas market.
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