Average price paid for oil in the Reserve - $29.70 per barrel
Drawdown Capability
Maximum nominal drawdown capability - 4.4 million barrels per day Time for oil to enter U.S. market - 13 days from Presidential decision
SPR Quick Facts
The Strategic Petroleum Reserve is a U.S. Government complex of four sites with deep underground storage caverns created in salt domes along the Texas and Louisiana Gulf Coasts.
Current inventory - Click to open inventory update window
Highest inventory - The SPR was filled to its then 727 million barrel authorized storage capacity on December 27, 2009; the inventory of 726.6 million barrels was the highest ever held in the SPR.
Previous Inventory Milestones
2008. Prior to Hurricane Gustav coming ashore on September 1, 2008, the SPR had reached 707.21 million barrels, the highest level ever held up until that date. A series of emergency exchanges conducted after Hurricane Gustav, followed shortly thereafter by Hurricane Ike, reduced the level by 5.4 million barrels. 2005. Prior to the 2008 hurricane releases, the former record had been reached in late August 2005, just days before Hurricane Katrina hit the Gulf Coast. Hurricane Katrina emergency releases of both crude oil sales and exchanges (loans) totaled 20.8 million barrels. 1977. First oil was delivered to the newly constructed SPR, 412,000 barrels of light sweet crude. Crude Oil Storage by Site (as of August 30, 2021)
Bryan Mound - holds 224.1 MMB in 20 caverns - 66.6 MMB sweet and 157.5 MMB sour. Big Hill - holds 139.4 MMB in 14 caverns - 65 MMB sweet and 74.4 MMB sour. West Hackberry - holds 185.7 MMB in 22 caverns - 102.2 MMB sweet and 83.5 MMB sour. Bayou Choctaw - holds 71 MMB in 5 caverns - 18.9 MMB sweet and 52.1 MMB sour. Current authorized storage capacity - 714 million barrels
Fill status - The SPR completed fill on December 27, 2009 with a cargo that arrived and began to unload on Christmas Day. The cargo was 493,000 barrels of Saharan Blend, a light sweet crude that was delivered to the Bryan Mound site. A sale and drawdown in 2011 reduced the inventory to 695.9 million barrels.
Current days of import protection in SPR - At the end of CY 2019 (as of December 31, 2019), the SPR’s crude oil inventory was 634.9 MMbbl. This is equivalent to approximately 1,069 days of supply of total U.S. petroleum net imports.
International Energy Agency requirement - 90 days of import protection (both public and private stocks). In past years, the United States has met its commitment with a combination of SPR stocks and industry stocks. The days of import protection may vary based on actual net U.S. petroleum imports and the inventory level of the SPR.
Average price paid for oil in the Reserve - $29.70 per barrel
Drawdown Capability
Maximum nominal drawdown capability - 4.4 million barrels per day Time for oil to enter U.S. market - 13 days from Presidential decision Summary List of Historical Releases - click here
Past Sales
FY 2020 Mandated Sales: 9.85 million barrels FY 2019 SPR Modernization Sale: 4.2 million barrels FY 2019 Mandated Sales: 10.87 million barrels FY 2018 SPR Modernization Sale: 4.74 million barrels FY 2018 Mandated Sales: 14.17 million barrels FY 2017 Mandated Sales: 10 million barrels FY 2017 SPR Modernization Sale: 6.28 million barrels 2014 - March: Test Sale - 5 million barrels 2011 June: IEA Coordinated Release - 30,640,000 barrels 2005 September: Hurricane Katrina Sale - 11 million barrels 1996-97 October; January; April: Total non-emergency sales - 28 million barrels 1990/91 September, January: Desert Shield/Storm Sale - 21 million barrels (4 million in August 1990 test sale; 17 million in January 1991 Presidentially-ordered drawdown) 1985 - November: Test Sale - 1.0 million barrels Past Exchanges
August 2017 - exchanged 5.2 million barrels of oil following Hurricane Harvey, delivered to Gulf Coast refineries as a result of much of the Gulf region's oil refining capabilities being shut down, resulting in fuel shortages. Sept 2012 - exchanged 1 MMB with Marathon Oil following Hurricane Isaac due to disruptions to the commercial oil production, refining and distribution operations in the Gulf Coast. Sep/Oct 2008 - two test exchanges were conducted following Hurricanes Gustav and Ike totaling 5,389,000 barrels. Deliveries were made to Marathon, Placid, ConocoPhillips, Citgo and Alon USA. June 2006 - exchanged 750 thousand barrels of sour crude with ConocoPhillips and Citgo due to the closure for several days of the Calcasieu Ship Channel to maritime traffic. The closure resulted from the release of a mixture of storm water and oil. Action was taken to avert temporary shutdown of both refineries. January 2006 - exchanged 767 thousand barrels of sour crude with Total Petrochemicals USA due to closure of the Sabine Neches ship channel to deep-draft vessels after a barge accident in the channel. Action was taken to avert temporary shutdown of the refinery. Sep/Oct 2005- exchanged 9.8 million barrels of sweet and sour crude due to disruptions in Gulf of Mexico production and damage to terminals, pipelines and refineries caused by Hurricane Katrina. Sep/Nov 2004 - exchanged 5.4 million barrels of sweet crude due to disruptions in the Gulf of Mexico caused by Hurricane Ivan. Oct 2002 - exchanged 98,000 barrels with Shell Pipeline Co. to secure Capline storage tanks in advance of Hurricane Lili. Sep/Oct 2000 - exchanged 30 million barrels in response to concern over low distillate levels in Northeast. July/August 2000 - exchanged 2.8 million barrels of crude oil for 1st-year tank storage and stocks for 2 million barrel Northeast Home Heating Oil Reserve. June 2000 - exchanged 500,000 barrels each with CITGO and Conoco, due to blockage of the ship channel that allowed incoming crude oil shipments to those refineries. Action taken in order to avert temporary shutdown of both refineries. August 1998 - exchanged 11 million barrels of lower quality Maya crude in SPR with PEMEX for 8.5 million of higher quality crude (more suitable for U.S. refineries) April/May 1996 - exchanged 900,000 barrels of SPR crude with ARCO to resolve company's pipeline blockage problem. Investment to date - About $25.7 billion ($5 billion for facilities; $20.7 billion for crude oil).
所谓目前的条件：
1.原油在80刀一线
2.climate change党各种找茬，打压油气
3.股东不想多投钱挖新井，扩张，而是想着赶紧收点钱还债和分红（前面亏了小10年了）
4.通胀高企，政府可能会打压油价
5.各大油企，都已减少capex几年，不少公司储备在下降。
6.这轮经济周期已经接近尾声，可能会有大的recession，应该是准备现金过冬的时候，
不是大幅扩张的时刻。
我能想到的，稍微有点脑子的油气公司都能想到，有些傻叉CEO可能会利欲熏心，追求
短期利益。
现状：
1. US oil and gas rig （活动钻井平台数）在缓慢上升，速度很慢。
2020年这个数字崩盘后，快2年了，大概收复一半失地，后面可能会涨得更慢。
作为对比，2016年那次油价闪崩，崩到30刀，oil rig number1年就收复失地了。
2. DUC （drilled uncompleted well）就是毛坯井数字暴跌
这个毛坯井数字从2020年顶峰时的8900个，已经在9月份跌到5300， 10月估计就要进
4xxx了。
油企不盖新房子，就是装修一下已经盖好的毛坯房，就卖出去了。这个DUC数字，已经
快要接近
2014年的数字了。一旦这个DUC跌到2000多，油价可能会有一波暴涨。
总之，页岩油气公司被前面的几波暴跌，特别是去年那波去负数的暴跌，打击得非常厉害，
不会再不要命地赔钱抢份额了，也不会短期大幅增长了。
美国战略原油储备， 714 million barrel
平均成本29.7
每天最多可以抽4.4 m
美国每天大概消耗19-20M， 自己产12M，进口6-7M。
如果每天释放4M， 可以坚持半年，还是挺厉害的。
不过，如果都放光了，后面会有一波剧烈的反弹。
中国的战略原油储备2020年极限是500m，实际应该还少不少。
所以，中国放消息释放原油储备压油价，结果屁用没有。
美国的原油储备80刀就释放的话，我觉得出招出早了。如果摁不下去，
战略库存又空了，一旦市场确认后，油价会剧烈上涨，很快冲100.
Average price paid for oil in the Reserve - $29.70 per barrel
Drawdown Capability
Maximum nominal drawdown capability - 4.4 million barrels per day
Time for oil to enter U.S. market - 13 days from Presidential decision
SPR Quick Facts
The Strategic Petroleum Reserve is a U.S. Government complex of four sites
with deep underground storage caverns created in salt domes along the Texas and Louisiana Gulf Coasts.
Current inventory - Click to open inventory update window
Highest inventory - The SPR was filled to its then 727 million barrel
authorized storage capacity on December 27, 2009; the inventory of 726.6
million barrels was the highest ever held in the SPR.
Previous Inventory Milestones
2008. Prior to Hurricane Gustav coming ashore on September 1, 2008, the SPR had reached 707.21 million barrels, the highest level ever held up until
that date. A series of emergency exchanges conducted after Hurricane Gustav, followed shortly thereafter by Hurricane Ike, reduced the level by 5.4
million barrels.
2005. Prior to the 2008 hurricane releases, the former record had been
reached in late August 2005, just days before Hurricane Katrina hit the Gulf Coast. Hurricane Katrina emergency releases of both crude oil sales and
exchanges (loans) totaled 20.8 million barrels.
1977. First oil was delivered to the newly constructed SPR, 412,000 barrels of light sweet crude.
Crude Oil Storage by Site (as of August 30, 2021)
Bryan Mound - holds 224.1 MMB in 20 caverns - 66.6 MMB sweet and 157.5 MMB
sour.
Big Hill - holds 139.4 MMB in 14 caverns - 65 MMB sweet and 74.4 MMB sour.
West Hackberry - holds 185.7 MMB in 22 caverns - 102.2 MMB sweet and 83.5
MMB sour.
Bayou Choctaw - holds 71 MMB in 5 caverns - 18.9 MMB sweet and 52.1 MMB sour.
Current authorized storage capacity - 714 million barrels
Fill status - The SPR completed fill on December 27, 2009 with a cargo that arrived and began to unload on Christmas Day. The cargo was 493,000
barrels of Saharan Blend, a light sweet crude that was delivered to the
Bryan Mound site. A sale and drawdown in 2011 reduced the inventory to 695.9 million barrels.
Current days of import protection in SPR - At the end of CY 2019 (as of
December 31, 2019), the SPR’s crude oil inventory was 634.9 MMbbl. This is equivalent to approximately 1,069 days of supply of total U.S. petroleum
net imports.
International Energy Agency requirement - 90 days of import protection (both public and private stocks). In past years, the United States has met its commitment with a combination of SPR stocks and industry stocks. The days
of import protection may vary based on actual net U.S. petroleum imports and the inventory level of the SPR.
Average price paid for oil in the Reserve - $29.70 per barrel
Drawdown Capability
Maximum nominal drawdown capability - 4.4 million barrels per day
Time for oil to enter U.S. market - 13 days from Presidential decision
Summary List of Historical Releases - click here
Past Sales
FY 2020 Mandated Sales: 9.85 million barrels
FY 2019 SPR Modernization Sale: 4.2 million barrels
FY 2019 Mandated Sales: 10.87 million barrels
FY 2018 SPR Modernization Sale: 4.74 million barrels
FY 2018 Mandated Sales: 14.17 million barrels
FY 2017 Mandated Sales: 10 million barrels
FY 2017 SPR Modernization Sale: 6.28 million barrels
2014 - March: Test Sale - 5 million barrels
2011 June: IEA Coordinated Release - 30,640,000 barrels
2005 September: Hurricane Katrina Sale - 11 million barrels
1996-97 October; January; April: Total non-emergency sales - 28 million
barrels
1990/91 September, January: Desert Shield/Storm Sale - 21 million barrels
(4 million in August 1990 test sale; 17 million in January 1991
Presidentially-ordered drawdown)
1985 - November: Test Sale - 1.0 million barrels
Past Exchanges
August 2017 - exchanged 5.2 million barrels of oil following Hurricane
Harvey, delivered to Gulf Coast refineries as a result of much of the Gulf
region's oil refining capabilities being shut down, resulting in fuel
shortages.
Sept 2012 - exchanged 1 MMB with Marathon Oil following Hurricane Isaac due to disruptions to the commercial oil production, refining and distribution operations in the Gulf Coast.
Sep/Oct 2008 - two test exchanges were conducted following Hurricanes Gustav and Ike totaling 5,389,000 barrels. Deliveries were made to Marathon,
Placid, ConocoPhillips, Citgo and Alon USA.
June 2006 - exchanged 750 thousand barrels of sour crude with ConocoPhillips and Citgo due to the closure for several days of the Calcasieu Ship Channel to maritime traffic. The closure resulted from the release of a mixture of storm water and oil. Action was taken to avert temporary shutdown of both
refineries.
January 2006 - exchanged 767 thousand barrels of sour crude with Total
Petrochemicals USA due to closure of the Sabine Neches ship channel to deep-draft vessels after a barge accident in the channel. Action was taken to
avert temporary shutdown of the refinery.
Sep/Oct 2005- exchanged 9.8 million barrels of sweet and sour crude due to
disruptions in Gulf of Mexico production and damage to terminals, pipelines and refineries caused by Hurricane Katrina.
Sep/Nov 2004 - exchanged 5.4 million barrels of sweet crude due to
disruptions in the Gulf of Mexico caused by Hurricane Ivan.
Oct 2002 - exchanged 98,000 barrels with Shell Pipeline Co. to secure
Capline storage tanks in advance of Hurricane Lili.
Sep/Oct 2000 - exchanged 30 million barrels in response to concern over low distillate levels in Northeast.
July/August 2000 - exchanged 2.8 million barrels of crude oil for 1st-year
tank storage and stocks for 2 million barrel Northeast Home Heating Oil
Reserve.
June 2000 - exchanged 500,000 barrels each with CITGO and Conoco, due to
blockage of the ship channel that allowed incoming crude oil shipments to
those refineries. Action taken in order to avert temporary shutdown of both refineries.
August 1998 - exchanged 11 million barrels of lower quality Maya crude in
SPR with PEMEX for 8.5 million of higher quality crude (more suitable for U.S. refineries)
April/May 1996 - exchanged 900,000 barrels of SPR crude with ARCO to resolve company's pipeline blockage problem.
Investment to date - About $25.7 billion ($5 billion for facilities; $20.7
billion for crude oil).
epa一个gas flaring就能把全部得井罚成亏本，别管事油价$80还是$800
【 在 awaydream (昆仑天下) 的大作中提到: 】
: 所谓目前的条件：
: 1.原油在80刀一线
: 2.climate change党各种找茬，打压油气
: 3.股东不想多投钱挖新井，扩张，而是想着赶紧收点钱还债和分红（前面亏了小10年了）
: 4.通胀高企，政府可能会打压油价
: 5.各大油企，都已减少capex几年，不少公司储备在下降。
: 6.这轮经济周期已经接近尾声，可能会有大的recession，应该是准备现金过冬的时
候，
: 不是大幅扩张的时刻。
: 我能想到的，稍微有点脑子的油气公司都能想到，有些傻叉CEO可能会利欲熏心，追求
: 短期利益。
: ...................
是啊。前几年页岩油公司赔惨了，伤筋动骨，现在肯定不敢随便下场。
【 在 awaydream (昆仑天下) 的大作中提到: 】
: 所谓目前的条件：
: 1.原油在80刀一线
: 2.climate change党各种找茬，打压油气
: 3.股东不想多投钱挖新井，扩张，而是想着赶紧收点钱还债和分红（前面亏了小10年了）
: 4.通胀高企，政府可能会打压油价
: 5.各大油企，都已减少capex几年，不少公司储备在下降。
: 6.这轮经济周期已经接近尾声，可能会有大的recession，应该是准备现金过冬的时
候，
: 不是大幅扩张的时刻。
: 我能想到的，稍微有点脑子的油气公司都能想到，有些傻叉CEO可能会利欲熏心，追求
: 短期利益。
: ...................
楼主分析的很专业！多谢
再增产也没用
拜登一个劲印钱是油价暴涨的根本
多谢大牛分享。非常有信息量👍
【 在 awaydream (昆仑天下) 的大作中提到: 】
: 所谓目前的条件：
: 1.原油在80刀一线
: 2.climate change党各种找茬，打压油气
: 3.股东不想多投钱挖新井，扩张，而是想着赶紧收点钱还债和分红（前面亏了小10年了）
: 4.通胀高企，政府可能会打压油价
: 5.各大油企，都已减少capex几年，不少公司储备在下降。
: 6.这轮经济周期已经接近尾声，可能会有大的recession，应该是准备现金过冬的时
候，
: 不是大幅扩张的时刻。
: 我能想到的，稍微有点脑子的油气公司都能想到，有些傻叉CEO可能会利欲熏心，追求
: 短期利益。
: ...................