Light oil Light oil appears to be most profitable thing to bring online for August.
Saudi lowered their light oil price to Europe for their monthly price cycle and raised to Asia which was odd as they have lowered to Asia for three straight months.
probably doing lol cause they knew Libya production would be cut and that Libya oil goes to Europe.
Saudi wants this 300k of demand from Europe and because USA produces so much of that type, Saudi's wants to gain more of that market share.
person really needs to watch if USA starts building as they have trouble finding exports market.
oil markets are getting rigged that OPEC suffers more than USA and Canada producers.
heavy oil problem is China. Heavy oil is at 56.71 now and new drilling gets alot more unappealing if it ever gets below 50
ygr is drilling an interesting belly river well right now that isn't normal norrh and south direction. Diagonal and probably the sweet spot. Be nice if it hit 300 barrels of oil a day at start.
bellys dont produce that much ng so worth going for completion and tie in even at these aeco prices.
stipp no fiddlehead news.
one thing q2 results have shown is that a big advantage of bigger a larger sized producer is can afford to drill and wait until nov or dec to complete and tie in. Due to capital restraints harder to do that being smaller.
sure a lot of plant turn around announced by everyone