Stuck in the Middle with ‘Sue’

Stuck in the Middle with ‘Sue’

It’s been a rough couple of days for cargo tanker pilots carrying crude oil and commercial goods trying to transit the Suez Canal. This, after all bi-directional traffic looking to pass through one of the world’s largest, busiest waterways grinded to a sudden halt Tuesday. Surrounded north and south by a flotilla of 100+ of some of the largest container ships on Earth, the 1,312’ Ever Given was en route from China to the Netherlands via the Suez Canal when a strong bluster of wind blew her off course, running the vessel aground and turning it sideways where the tanker became precariously stuck. With the ship’s bow touching the eastern canal wall and the stern wedged against the western, Egyptian tugboats now are scrambling to dislodge the ship, although other tankers unable to turn around will remain idle for days in a traffic jam unlike any other in the canal’s 150-year history. As a point of reference, if stood upright, the Ever Given is as tall as the Empire State Building.

What do you think? Learn more about Reese Energy Consulting and our range of oil and gas services and expertise at www.ReeseEnergyConsulting.com.

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Right Place, Right Time

Right Place, Right Time

Back in July 2019, Texas-based Comstock Resources went all in on natural gas at a time when everyone else was courting crude. The company bet large on the Haynesville shale play with a $2.2 billion gamble that secured its place as the single largest operator there. Reese Energy Consulting today is following Comstock’s recently announced 4Q 2020 performance and outlook for 2021. But first, a quick rewind. With the acquisition of Covey Park Resources less than 2 years ago, Comstock operates 323,000 acres with 1.1 BCFPD in production, 2,000 net drilling locations, 7.6 TCF of proved reserves, 57 years of inventory, and 500 miles of gathering pipe in the nation’s second largest gas basin. And let’s not forget the Haynesville’s proximity to the Gulf Coast—now the epicenter of LNG export terminals. The company currently markets 2 BCFPD with another 1.2 BCFD in Swing Sales. With a large amount of undedicated acreage, Comstock can “time” those Swing Sales and benefit from spikes in spot prices like what we recently saw. Suffice it to say, this producer scored a serious windfall.

 

Comstock Resources

Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville Shale in North Louisiana and East Texas.

www.comstockresources.com

What do you think? Learn more about REC and our natural gas marketing expertise at www.ReeseEnergyConsulting.com,

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Something New in Store for Sempra

Something New in Store for Sempra

With a handful of operations already online and four other infrastructure projects in development, Sempra Energy is all about LNG on the La., Gulf Coast. Reese Energy Consulting today is following the latest news from San Diego-based Sempra, which now seeks FERC approval to build a salt dome storage terminal near Hackberry, La, with access to five LNG processing plants. Upon completion in 2024, the project also will include converting three existing caverns and developing a fourth. Construction of the facility will include a 4.9-mile lateral that connects the facility to Sempra’s 40-mike Cameron Interstate Pipeline; the 11-mile Hackberry Pipeline that connects to the company’s planned Port Arthur connector; and a 6.2-mile brine disposal pipeline. With a storage capacity of 20.03 BCF of working gas and 5.47 BCF of base gas, the new terminal will be located within 15 miles of pipelines that serve Sabine Pass LNG, Golden Pass LNG, Port Arthur LNG, Calcasieu Pass LNG, and Sempra’s Cameron LNG.

 

Sempra Energy

Sempra Energy is a North American energy infrastructure company based in San Diego, California. Sempra Energy’s focus is on electric and natural gas infrastructure.

www.sempra.com

What do you think? Learn more about Reese Energy Consulting and our range of natural gas and LNG services at www.ReeseEnergyConsulting.com.

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