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Title : January 30, 2019 -- Midland Crude Sells At A Premium To WTI -- RBN Energy
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January 30, 2019 -- Midland Crude Sells At A Premium To WTI -- RBN Energy

Wells coming off confidential list -- yet to be reported --
Wednesday, January 30, 2019: 101 wells for the month; 101 wells for the quarter
34199, conf, CLR, Norway 7-5H1, Fancy Buttes, producing, appears to be an okay well;
34006, conf, CLR, Radermecher 6-22H1,  Camel Butte, a huge well, 43K in one month; the Radermecher wells are tracked here;
34003, conf, Hess, SC-1WX-152-99-0809H-5,  Banks, no production data,
33985, conf, Oasis, Dawson 5494 43-12 11T, Alkali Creek, a nice well;
33983, conf, Oasis, Dawson 5494 43-12 9T, Alkali Creek, a nice well;
33537, conf, CLR, Holstein Federal 15-25H1, Elm Tree, producing, albeit very little,
31988, conf, Petro-Hunt, Anderson 152-96-35D-26-1HS, Clear Creek, no production data,

Tuesday, January 29, 2019: 94 wells for the month; 94 wells for the quarter
34002, conf, Hess, SC-1WX-152-99-0809H-4, Banks, no production data,
34001, conf, Hess, SC-1WX-152-99-0809H-3, Banks, no production data,
33969, conf, Enerplus, Steel 147-93-09D-04H-TF, Moccasin Creek, a nice well; the "heavy metal" wells are tracked here;

Active rigs:

$53.84	1/30/2019	01/30/2018	01/30/2017	01/30/2016	01/30/2015
Active Rigs	64	57	38	45	146

RBN Energy: Midland crude supply crunch squashes West Texas spreads.

The market is used to crude oil spreads in the Permian Basin being volatile. Fast-paced production growth, the addition of new takeaway pipelines — and the rapid filling of those new pipes — have all impacted in-basin pricing, and we’ve seen differentials from the Permian to its downstream markets — Cushing, OK, and the Gulf Coast — widen and narrow as supply and demand fundamentals have changed. But recently, things have gotten a lot wilder. In September 2018, the Midland discount to WTI at Cushing blew out to almost $18/bbl, then narrowed to less than $6/bbl only three weeks later, thanks largely to the start-up of Plains All American’s much-ballyhooed, 350-Mb/d Sunrise Expansion. As Sunrise started to fill up, price differentials initially widened for a brief period of time. But, as we kicked off 2019, the Midland-Cushing spread quickly shrank further and then flipped, with Midland last Friday (January 25) trading at a $1/bbl premium to Cushing crude. You might wonder, how the heck did that happen? In today’s blog, we discuss how things play out when abundant supply dries up like a prune and traders are suddenly caught in a tight market.

http://bit.ly/2dZyQXu

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