Discover and read the best of Twitter Threads about #Permian

Most recents (4)

1/11 on DUCs:

Common view suggests that, even without higher rig counts, lower 48 production of 8.5 mb/d can grow this year by running down drilled but uncompleted wells - or DUCs - inventories of more than 8,000 wells.
#oott
2/11 What are DUCs?

DUCs are the result of modern division of labour. A baseload inventory of DUCs therefore will always be present due to the scheduling of proppants, water, frac crews and other requirements.
3/11 More DUCs?

Recently, the ratio of DUC wells to completions has been rising. Producers build DUC inventories in low price environments—such as the weak Midland price environment of H2 18 related to pipeline constraints—and complete them at more attractive prices later. #oott
Read 12 tweets
1/13 On oil & oil equity prices:

So why does oil and oil equities underperform the S&P and NASDAQ in 2019 by a wide margin? #OOTT #brent #WTI #oilprice
2/13 As shown by Crescat Capital, this is a growth/ETF/momentum market which left commodities at 50 year relative historical lows! @crescatkevin @TaviCosta
3/13 So how do oil prices format?

Short term, spot prices #trade around inventory levels.

However, it is hard for #Brent and oil equities to go up on declining inventories while demand/macro weakens (macro outlook uncertain). #OOTT #WTI @HFI_Research
Read 13 tweets
Thread: Trump Chooses David Bernhardt, a Former Oil Lobbyist, to Head the Interior Dept. “Bernhardt was top interior official in the George W. Bush administration, went on to work for some of the country’s largest oil and gas companies. #climatechange

nyti.ms/2UEp9B6?smid=n…
“As a partner in the law firm Brownstein Hyatt Farber Schreck, he lobbied for the oil companies Cobalt International Energy and Samson Resources. His legal clients have included the Independent Petroleum Association of America and Halliburton Energy Services.
“If confirmed, Mr. Bernhardt will lead a sprawling department that oversees the nation’s nearly 500 million acres of public land, including vast national monuments and protected wilderness areas. #conservation
Read 17 tweets
Thread
Comments by Paal Kibsgaard, Schlumberger Chairman & CEO
1- "Still, the well-established market consensus that the #Permian can continue to provide 1.5 million barrels per day of annual production growth for the foreseeable future is now starting to be called into question"
2- "In fact, so far in the third quarter, the hydraulic fracturing market has already softened significantly more than we expected in spite of the overall rig count holding up relatively well."
3- "Still, what is already clear is that unit well performance, normalized for lateral length and pounds of proppant pumped, is dropping in the Eagle Ford as the percentage of child wells continues to increase."

#Oil #Permian #EagleFord #shale
Read 13 tweets

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