Title : Week 48: November 25, 2018 -- December 1, 2018
link : Week 48: November 25, 2018 -- December 1, 2018
Week 48: November 25, 2018 -- December 1, 2018
Beautiful, beautiful day in north Texas. Not a cloud to be seen; bright sunshine. Almost 60 degrees now and should hit 70 degrees by the end of the day. No precipitation forecast for the next five or six days and I did not look at the forecast any farther out.Top energy story of the week: Hubbert's peak oil theory with another nail in the coffin. Despite $50 oil, US oil and natural gas reserves hit a new all-time record -- and by a large, large margin. My hunch: the record will be broken again. And it won't take as long this time. The previous record was back in 1970, I believe. Graphics here.
International: Mexico says it will drill 40 conventional onshore wells for $1.47 billion.
National:
US crude oil inventories now over 450 million bbls; more than 7% higher than average.
US oil production is rising at its fastest pace in 98 years.
Oil glut? Made in the USA.
WTI drops below $50 before recovering to $51.
Record low gasoline prices not "moving" gasoline demand.
Bakken
Operations
MRO reports two huge Reunion Bay wells
CLR reports an incredible Wiley well
Production per well continues to increase
Reader's update on Newfield's Yellowfin wells
DUCs
Update
Natural gas
Production growth requires the equivalent of 16 new processing plants
Production by association
Many examples; this is a Kermit well
Wiley and Bailey
The Nathan Hale
Commentary
The manufacturing stage of the Bakken
Thus Article Week 48: November 25, 2018 -- December 1, 2018
That's an article Week 48: November 25, 2018 -- December 1, 2018 This time, hopefully can give benefits to all of you. well, see you in posting other articles.
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