Murphy’s Eagle Ford Infills ‘Best in the Company’s History’
Murphy Oil’s newest Eagle Ford wells...
Murphy Oil’s newest Eagle Ford wells are producing “some of the best wells in the company’s history,” according to a J.P. Morgan Securities analyst, and that’s despite being infill wells.
“The company stated that its ongoing efforts to optimize completion design and operating efficiency have resulted in improved well performance despite declining productivity in the Eagle Ford [among operators] overall,” analyst Arun Jayaram reported in a review of the results.
After a South Texas turn-in-line (TIL) hiatus in the first quarter, the operator brought 24 gross Eagle Ford wells on in the second and expects to have 10 more gross TIL’ed in this quarter.
The 24 new wells are in Karnes (18), McMullen (3) and Dimmit (3) counties, including two U-turn laterals in McMullen.
The wells in Karnes had 24-hour IPs averaging 2,123 boe/d “with two-month cumulative oil production exceeding legacy performance by some 30%,” Jayaram wrote, citing Enverus data.
There, where Murphy has 10,155 net acres, it added five wells in its Turner pad: four, Lower Eagle Ford; one, Upper Eagle Ford.
N.D. may sue S.D. over eminent domain ban for CO2 pipelines
North Dakota Attorney General Drew Wrigley said his office is evaluating...
North Dakota Attorney General Drew Wrigley said his office is evaluating legal options against South Dakota's ban on using eminent domain for carbon dioxide pipelines, calling the law a "hostile act" that restricts interstate commerce. The measure threatens Summit Carbon Solutions' proposed five-state pipeline network to move carbon emissions from ethanol plants to underground storage in North Dakota. South Dakota leaders defended the law as a defense of private property rights.
Soaring U.S. electricity demand from AI data centers and onshored manufacturing will stimulate development and lead to faster approvals of natural gas infrastructure, positioning gas to capture much of the $700 billion in grid investment Goldman Sachs projects through 2030. EQT CEO Toby Rice sees gas as the "clear winner right now" for its ability to scale faster than nuclear or renewables and expects US gas demand to rise 20% to 40%. Rice added that carbon capture investments could make gas the first affordable zero-carbon energy solution.
JPow sees a “challenging situation.” Jerome Powell...
JPow sees a “challenging situation.” Jerome Powell is not mad, he’s just frazzled. At a conference in Rhode Island yesterday, the Federal Reserve chair said the central bank’s decision to cut interest rates last week was driven by the weakening labor market, which outweighed concerns over inflation. “Two-sided risks mean that there is no risk-free path,” Powell added. Low employment and high inflation present an ongoing challenge to the Fed’s ability to determine monetary policy, though Powell said it’s still “well positioned” to respond to economic developments, like tariffs. Markets did not love what JPow had to say, as all three major indexes fell as he spoke.
President Trump canceled a meeting with top Democratic lawmakers this week ahead of a looming government shutdown on Oct. 1 if a funding bill is not passed.
Disney will raise the price of an ad-free Disney+ subscription to $19 per month (from $16) and the cost of Disney+ with ads to $12 (from $10) as of Oct. 21.
Ryan Wesley Routh was found guilty by a Florida jury of attempting to assassinate President Trump on a golf course last year.
Errol Musk, Elon Musk’s father, was accused of sexually abusing five of his children and stepchildren since 1993, according to a New York Times investigation.
Amazon is closing all 19 of its Amazon Fresh stores in the UK and converting some of them into Whole Foods, the company said.
Chick-fil-A is opening a beverage concept shop with specialty coffees and smoothies (but no chicken).
The American Petroleum Institute (API) estimated...
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.821 million barrels in the week ending September 19. This week’s draw follows last week’s 3.420 million barrel draw.
So far this year, crude oil inventories are up just 1.5 million barrels, according to Oilprice calculations of API data.
Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 300,000 barrels to 406 million barrels in the week ending September 19.
Gasoline inventories fell by 1.046 million barrels in the week ending September 19, after falling by 691,000 barrels in the week prior. As of last week, gasoline inventories were already 1% below the five-year average for this time of year, according to the latest EIA data.
Distillate inventories rose again this week, adding 518,000 barrels, following the week prior’s 1.906-million-barrel gain. Distillate inventories were 8% below the five-year average as of the week ending September 12, the latest EIA data shows.
Cushing inventories grew by 72,000 barrels in the week.
