AFE Leaks

X for AFE Leaks. Upstream Reserves, Valuation, Debt/Equity Investing, Corporate Research, Consulting, Data Analytics

[AFE Leaks @AFELeaks]

Reuters: U.S. crude exports hit a May record 5.6MM bpd; Cushing fell to 22.4MM bbl. Export pull is absorbing shale barrels. https://t.co/hIyrbyhAgj #AFELeaks

[AFE Leaks @AFELeaks]

ECA LNG Phase 1 started first LNG in Ensenada. One 3.25 mtpa train is designed to move U.S. gas to Asia from Mexico's Pacific Coast. via Sempra https://t.co/Hs5suNbaR4 #AFELeaks

[AFE Leaks @AFELeaks]

Matador (MTDR) signed new gas + NGL deals with Energy Transfer to cut Waha exposure in 2H 2026, bridging to its 500,000 MMBtu/d Hugh Brinson firm transport. https://t.co/TCN9bPJzHy #AFELeaks

[AFE Leaks @AFELeaks]

Delfin took FID on the first US floating LNG facility — Delfin FLNG 1, ~USD 5B, 4.4 mtpa, 40 nm off Louisiana, first LNG 2030. Largest FLNG project globally. https://t.co/ChQRTXNB1m #AFELeaks

[AFE Leaks @AFELeaks]

WhiteWater's new Pelican Thrasher Lateral (~65 mi, 42-inch) feeds Haynesville gas to the 9.5 mtpa Commonwealth LNG in Cameron Parish, LA; in service 1H2029.
https://t.co/QiOON9HTE8
#AFELeaks

[AFE Leaks @AFELeaks]

Permian gas below zero: RBN puts Waha cash at negative USD 1.81/MMBtu for the week ending June 1, highest since February. https://t.co/qkzKLyNPjH #AFELeaks

[AFE Leaks @AFELeaks]

Devon got an ~$8B bid from Stone Ridge for its ex-Coterra Marcellus gas. Reuters: structured as a potential record US upstream asset-backed securitization. https://t.co/pTFXkLKTMU #AFELeaks

[AFE Leaks @AFELeaks]

Baker Hughes May 29: US rigs 562, oil +4 to 429 (down 1 y/y). Permian +5 to 255; Eagle Ford flat at 44. Permian-concentrated, not a broad L48 ramp. https://t.co/7X0RzqZRAI #AFELeaks

[AFE Leaks @AFELeaks]

Oxy has a clean live experiment setting up in Lea County.

April 2026 AFEs on Mercury 29:

• 046H: ~1-mile Wolfcamp B, $7.05MM
• 048H: U-turn Wolfcamp B, $9.65MM

+$2.6MM for the U-turn.

Now we get to watch whether the production uplift pays for the extra spend.

[AFE Leaks @AFELeaks]

Project Testarossa: Bison IV DJ Basin Sale Outlook https://t.co/HlQwBX7DUD

[AFE Leaks @AFELeaks]

IEA 2026: global gas investment hits a decade high ~USD 330B (US+Qatar LNG); oil capex below USD 500B, 3rd year, despite crude ~USD 100/bbl. https://t.co/7vMazUnkw5 #AFELeaks

[AFE Leaks @AFELeaks]

Battalion Oil signs a JDA for an up-to-8-well Delaware program in Monument Draw, Ward County TX. First 4-well pad spuds Q2/Q3 2026, balance-sheet funded.
https://t.co/rQyiAPgxpx
#AFELeaks

[AFE Leaks @AFELeaks]

Cheniere: Sabine Pass Phase 1 is Train 7 plus BOGR, over 6 mtpa; FID targeted by early 2027. Feedgas marker. via Cheniere https://t.co/TRSWr88W9N #AFELeaks

[AFE Leaks @AFELeaks]

Post Oak Energy Capital exits two Haynesville portfolio companies (NGNV + Quantent) simultaneously. Jefferies advised. The $3B+ PE firm continues monetizing its gassy upstream positions. https://t.co/CXCEjLOZOt

[AFE Leaks @AFELeaks]

EIA: 44.9 Bcf/d of U.S. gas pipeline capacity is planned for 2026-2027; 29.7 Bcf/d originates in Texas. Permian takeaway/Waha relief is the mechanism. https://t.co/7U9NVOSVQg #AFELeaks

[AFE Leaks @AFELeaks]

WhiteHawk IPO: 6.9MM shares at $25-$27, ~$187MM target. Gas-minerals signal, not operated capex; ~3.4MM DSU acres in Appalachia/Haynesville. via Mining Weekly https://t.co/huQzukpDGL #AFELeaks

[AFE Leaks @AFELeaks]

PTEN: May 26 investor deck says U.S. active rigs exit Q2 at 95 and 2026 at 100+; renewal dayrates are up mid-single digits from early 2026. via SEC https://t.co/W0Qs9tX4p7 #AFELeaks

[AFE Leaks @AFELeaks]

CO ECMC approved 48 OGDPs for 801 wells in 2025. Emissions fell 30%, but Front Range NOx per well rose 23%. via Colorado Sun https://t.co/EOSd38d2E1 #AFELeaks

[AFE Leaks @AFELeaks]

NOG 8-K: 25% Parallax-operated light-oil Duvernay stake for CA$350MM; ~4,000 Boe/d expected in 2027 and ~75,000 net acres. via NOG 8-K https://t.co/JG1ODGpAFb #AFELeaks

[AFE Leaks @AFELeaks]

ND DMR March: 1.142 MMb/d oil; record 19,639 producing wells, up 224 m/m. Activity check, not a production surge. via InForum https://t.co/EFrL8GmPtF #AFELeaks