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Permalink Reply by Skip Peel - Mineral Consultant on April 30, 2015 at 7:36

I have not seen anything more recent than this.  Excerpt-

The Louisiana Light Sweet (LLS)-WTI spread reached $9.00/bbl on March 23 (Figure 3), the highest differential since January 2014 as WTI weakened significantly and LLS strengthened in mid-March. With record high inventory levels at the WTI delivery point at Cushing, Oklahoma, the differential could increase crude oil flows from Cushing to the U.S. Gulf Coast. The Brent-LLS spread declined $3.49/bbl from March 2 to $0.31/bbl on April 2, with LLS briefly reaching a premium to Brent. A narrow Brent-LLS spread can attract crude oil imports to the U.S. Gulf Coast in the near term, which, combined with the potential for crude oil shipments from Cushing, indicates that market participants are anticipating a rise in refinery runs as more refineries come back online in the coming weeks. If, however, runs do not increase as much as expected, the spread between international and domestic crudes could widen.

Link to full report:

http://www.eia.gov/forecasts/steo/pdf/uncertainty.pdf

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Permalink Reply by Joe Aldridge on April 30, 2015 at 7:52

Thanks Skip. Very good commentary. Will this have any influence in the production from the TMS?

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Permalink Reply by Skip Peel - Mineral Consultant on April 30, 2015 at 10:27

Every little bit helps but IMO the big challenge in the TMS is well cost.  And since drilling has stalled there's no new data on the amount of discount to field services and materials that may be possible.  I've not found evidence to support the well cost some TMS operators were claiming just before drilling ceased.  Here's the last two additions to my TMS Well Cost list:

GDP BLADES 33H #1 -                     LA-  (247207):     $14,459,643.00

GDP BEECH GROVE 94H #1 -         LA-  (247705):     $16,489,125.00

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Permalink Reply by Two Dogs, Pirate on April 30, 2015 at 10:47

Joe Louisiana Light spot price closed yesterday at $64.93.

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Permalink Reply by Two Dogs, Pirate on May 1, 2015 at 6:58

Louisiana light closed 4-30-15 at $65.67

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Permalink Reply by Joe Aldridge on May 5, 2015 at 1:45

The price of WTI has gone nuts this morning. Up $1.50 at 8 am and climbing. Anybody have any idea why?

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