RBN Energy, LLC’s Post

Permian Basin associated natural gas is likely to continue rising, helping to offset ongoing declines from gas-focused basins like the Haynesville Shale. Until natural gas prices rise to a sustained level economic for renewed activity, will the number of drilled but uncompleted wells rise? The latest EIA drilling report hints at that possibility. NGI Senior Editor, Markets Jeremiah Shelor discusses the outlook in his latest for Natural Gas Intelligence.

Intra Energy Corporation (ASX: IEC) managing director Ben Dunn sits down with Proactive’s Jonathan Jackson after the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) approved IEC's Program of Works (PoW).  The company now plans to conduct 2,500 metres of reverse circulation (RC) drilling for #lithium, #tantalum, #niobium and #caesium pegmatites at the Maggie Hays Hills Project in Western Australia. These pegmatites are believed to be up to 50 metres wide, with outcroppings along a 2.5-kilometre contact zone. Additionally, IEC aims to drill test several outcropping quartz reefs, where rock chip samples have shown #gold results of up to 17 g/t, extending over a 1.5-kilometre geological contact zone. According to Dunn, the approval is a significant step towards the drilling phase, with multiple promising lithium pegmatite and gold targets identified. Watch at #Proactive #ProactiveInvestors #BatteryMetals #LithiumMining #GoldMining #CriticalMinerals https://lnkd.in/eU6VsX2w

Great Expectations in the Uinta Basin Over the last two years, Utah’s Uinta has re-emerged as a prolific oil basin whose stacked plays and overall economics solidly compete with those in the Permian. But transportation of its premium-priced waxy crude to hungry refineries has long been a hitch in the basin’s giddy-up. Can’t pipeline it. Can’t Fed-X it. Moving Uinta output is solely dependent on rail and truck, and producers are counting on a SCOTUS win of the proposed 88-mile Uinta Basin Railway in a case the court is now weighing. For producers, an added railroad could quintuple volumes flowing out of the region. For newcomers making their entry into the Unita, that train can’t arrive fast enough. Reese Energy Consulting today is following the latest on Denver-based SM Energy Company, which made a grand entrance into the Uinta last June. SM, which also operates 111,000 net acres in the Permian Midland and 155,000 in the Eagle Ford and Austin Chalk, coupled up with NOG - Northern Oil & Gas, Inc. (NYSE: NOG) to buy Houston-based XCL Resources, a pure-play Uinta operator. The $2.55 billion deal included 63,300 net acres and 43 MBOED (87% oil). In its recently announced 3Q earnings release, SM says it expects a 25% bump in 4Q total production due to its XCL acquisition, which would increase its current 170 MBOED to as much as 220 MBOED. SM reported $644 million in 3Q revenues and nearly $241 million in profit. What do you think? Learn more about REC and our crude oil, natural gas, NGL, and LNG marketing services at https://lnkd.in/ewhkGFa. For more info about our new online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.

West Texas, particularly in the Permian Basin, has had a profound economic impact, driving job creation, investment, and economic growth in the region. Download Oil & Gas Operator lists and drilling activities. https://lnkd.in/gD__gcHz

Great Expectations in the Uinta Basin Over the last two years, Utah’s Uinta has re-emerged as a prolific oil basin whose stacked plays and overall economics solidly compete with those in the Permian. But transportation of its premium-priced waxy crude to hungry refineries has long been a hitch in the basin’s giddy-up. Can’t pipeline it. Can’t Fed-X it. Moving Uinta output is solely dependent on rail and truck, and producers are counting on a SCOTUS win of the proposed 88-mile Uinta Basin Railway in a case the court is now weighing. For producers, an added railroad could quintuple volumes flowing out of the region. For newcomers making their entry into the Unita, that train can’t arrive fast enough. Reese Energy Consulting today is following the latest on Denver-based SM Energy Company, which made a grand entrance into the Uinta last June. SM, which also operates 111,000 net acres in the Permian Midland and 155,000 in the Eagle Ford and Austin Chalk, coupled up with NOG - Northern Oil & Gas, Inc. (NYSE: NOG) to buy Houston-based XCL Resources, a pure-play Uinta operator. The $2.55 billion deal included 63,300 net acres and 43 MBOED (87% oil). In its recently announced 3Q earnings release, SM says it expects a 25% bump in 4Q total production due to its XCL acquisition, which would increase its current 170 MBOED to as much as 220 MBOED. SM reported $644 million in 3Q revenues and nearly $241 million in profit. What do you think? Learn more about REC and our crude oil, natural gas, NGL, and LNG marketing services at https://lnkd.in/ewhkGFa. For more info about our new online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.

Natural Gas Output from Appalachia, Haynesville Seen Falling Further into Early Summer https://ift.tt/YSVeFHR Combined natural gas production from seven key Lower 48 plays is expected to ease lower in June, with declines from gas-weighted plays continuing to offset increasing associated output from the Permian Basin, according to updated projections from the U.S. Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, EIA said it expects combined June natural gas production of around 99.2 Bcf/d from the seven regions tracked in the monthly dataset. That would represent a 330 MMcf/d sequential decline from modeled output of around 99.5 Bcf/d for May, the DPR data show. Alongside the Permian, the DPR tracks drilling and productivity trends in the Anadarko and Appalachian basins, as well as the Bakken, Eagle Ford, Haynesville and Niobrara shales.  [Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.] In the latest DPR projections, the Haynesville (down 267 MMcf/d) and Appalachia (down 176 MMcf/d) account for the largest natural gas production declines from May to June, carrying over similar themes from last month’s report.  Smaller declines would come from the Eagle Ford (down 21 MMcf/d), Niobrara (down 15 MMcf/d) and Anadarko (down 10 MMcf/d) regions, projections show. EIA predicted an increase in natural gas output of 143 MMcf/d from the oil-focused Permian for the period, with the Bakken expected to add 16 MMcf/d month/month, DPR data show. Declining U.S. natural gas production this spring has tightened supply/demand balances and helped to lay the foundations for recent bullish momentum in Henry Hub futures.  Henry Hub spot prices have similarly strengthened month-to-date, NGI data show. Spot prices at the national benchmark averaged $1.625/MMBtu in May 1 trading but climbed to an average of $2.125 as of Monday’s trade date. Meanwhile, in the latest EIA estimates, the combined inventory of drilled but uncompleted (DUC) wells trended slightly higher month/month. Total DUC wells across the seven regions stood at 4,510 in April, up from 4,504 in March, according to the agency. The Haynesville (up seven), Bakken (up six), Appalachia (up five), Anadarko (up four) and Permian (up two) regions all added to their respective backlogs month/month, EIA said.  On the other side of the ledger, the Eagle Ford dropped two DUC wells month/month, while the Niobrara drew down its backlog by 16 wells, EIA data show. EIA’s DPR uses recent rig data along with drilling productivity estimates and estimated changes in production from existing wells to model changes in production from the seven regions. The post Natural Gas Output from Appalachia, Haynesville Seen Falling Further into Early Summer appeared first on Natural Gas Intelligence EXEDRA via Daily GPI – Natural Gas Intelligence htt...

The current price for natural gas in the Permian is almost negative $3 per per million British thermal units. So producers must pay that amount to have their gas taken away. Much of this gas is the associated gas that comes out of the oil wells. It's not like it is easy to make money producing oil in the Permian. Vicki Hollub is CEO of Occidental, one of the largest oil producers in the Permian and this is what she said about trying to make money there.  "The profitability of shale is much more difficult than people ever realized." Having to pay someone to take your associated gas makes it even more difficult. However, there has never been any penalty for simply flaring or venting that gas instead. It's understandable why this is such a common approach. It's smart business for a Permian shale oil operator. https://lnkd.in/ePdg-Cr5

Natural gas prices in the Permian shale basin in West Texas have turned negative a record number of times in 2024, including an all-time low on Aug. 30, as pipeline and other constraints trap gas in the nation's biggest oil-producing basin. https://ow.ly/fzGi50TcFCa

From RBN Energy, LLC and Taylor Noland: Center of the Universe - The Midland Crude Oil Hub, Where Permian Pricing and Takeaway Converge "Midland Basin production stood at 558 Mb/d at the start of 2012 but has risen to more than 2.7 MMb/d — about 5X the production levels of a dozen years ago — and is seen increasing to 3 MMb/d by early 2027 under RBN’s Mid-Price Scenario. There are about 110 rigs now operating in the Midland Basin." https://lnkd.in/gbgd3DVW

The Permian Basin continues to reign supreme in US shale oil production thanks to strong global demand and some interesting geopolitical shifts. Here's the gist: - Europe's move away from Russian energy is opening doors for US shale drillers and LNG producers. - The Permian Basin's infrastructure keeps it ahead of the game with its pipeline network and Gulf Coast access. - We're seeing a return of large-scale M&A deals in the US oil & gas industry, with ExxonMobil taking the Permian crown through its acquisition of Pioneer Natural Resources. - Continued investment and strategic plays will be key for the Permian Basin to stay on top as the global energy landscape evolves. What do you think about the future of the Permian Basin? #PermianBasin #oilandgas #shaleoil #energytrends