Bakken To Surpass Record Output Despite Bottlenecks

Oilfield Technology: ESAI Energy reports crude and condensate production from the Bakken shale basin will surpass current record output into 2020. In the company’s recently published North America Watch, ESAI Energy points to increasing rig productivity and efficiency gains in areas outside of the Bakken core that are translating into high growth rates for the basin as a whole. Bakken production growth will add almost 250 000 bpd to total US crude production over the next two years.

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Bakken To Surpass Record Output Despite Bottlenecks

CompressorTech2: The latest ESAI Energy North America Watch indicates the Bakken shale basin’s associated gas production is rising at an even faster pace than the record-setting crude oil and condensate production. While crude oil production has increased by 19% over the same period last year, natural gas volumes have climbed by 29%.

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Bakken to surpass record output despite gas bottlenecks

World Pipelines: ESAI Energy reports crude and condensate production from the Bakken shale basin will surpass current record output into 2020. In the company’s recently published North America Watch, ESAI Energy points to increasing rig productivity and efficiency gains in areas outside of the Bakken core that are translating into high growth rates for the basin as a whole. Bakken production growth will add almost 250 000 bpd to total US crude production over the next two years.

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U.S. LPG Exports to Surge

June marked a low point for North American NGL prices. On the one hand, low outright crude and naphtha prices and sluggish Far East LPG demand conspired to bring Japan propane prices back into the low $30s. Meanwhile, a lack of infrastructure has de-linked North American prices from export netbacks. But soon these bumps in the road will vanish. Enterprise’s new LPG terminal enable will exports to flow more freely. When that happens, strong Asian demand will fuel a surge in U.S. deliveries to that market.

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Bakken Output to Reach New Highs

Over the next two years, crude and condensate production from the Bakken will reach record high levels despite a temporary lack of infrastructure to handle gas processing and NGL takeaway. Bakken production is forecast to average 1.4 million b/d this year, and 1.5 million b/d in 2020. Increased rig efficiency and enhanced completion methods are helping the economics outside the core.

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Singapore Faces Challenging Demand Shift from IMO 2020

Hellenic Shipping News: ESAI Energy’s recently released Global Fuels 12-month Outlook highlights how Asia will bear the brunt of the demand shift caused by the International Maritime Organization’s new sulfur cap for shipping fuels in 2020. Asia makes up 40 percent of global bunker demand, with Singapore, China, and Hong Kong accounting for most of that market. At the same time, the relative availability of MGO to LSFO in Asia means that MGO will be a more likely substitute in that market. In other regions, substantial shifts are taking place from HSFO to LSFO. A big shift in demand will move global markets.

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New Projects Help Maintain UK Growth

Although heavy maintenance and outages in the third quarter of 2019 will temper UK production growth in the North Sea this year, new projects will help maintain total output of just over 1 million b/d for the next several years. Annual production growth from the UK North Sea will average close to 50,000 b/d in 2019 and 2020. Seven new projects are expected to ramp up through 2020, adding a total 245,000 b/d of new productive capacity. Areas west of the Shetland Islands are seeing the most activity.

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Latin America Hits Bottom 2019

ESAI Energy expects the region’s downtrend in operating capacity will turn a corner in 2019. Although maintenance and outages will continue to hinder operating capacity, the continued slow recovery in Mexico’s refineries and the restart of a U.S. Virgin Island refinery early in 2020 will contribute to the first rise in operable capacity and throughput in more than five years.

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