American Oil and Gas Reporter - February 2021 - 30

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April 2021. With about 1.7 MMbbl/d of
mostly light, sweet crude shipping from
the U.S. Gulf Coast, export volumes
should be more than adequate to support
a robust assessment. This volume represents more than two Aframax cargoes
each day.

Current
Web Exclusives
EIA Projects LongRange Growth For
Both Oil & Gas
Based on a report from
the U.S. Energy
Information
Administration

Novel Funding Model
Enables Secondary
Recovery Project

Methodology
Crude quality was an important issue
as Platts developed the AGS methodology.
Unlike, for instance, the North Sea, where
a certain grade will be fed by a relatively
small geographic area, the Permian Basin
covers a huge swath of the southwestern
United States with big gathering systems
feeding a number of long-haul pipelines.
With more than 4 MMbbl/d of production spread across two distinct basins,
a crude buyer for a refinery might argue
that the Permian should be carved up
into different grades such Brent, Forties,
Oseberg, Ekofisk, and more recently Troll,
a few thousand miles to the northeast.
Platts decided it would be most useful
to draw up the specifications for one
grade that captured most of the unblended,
direct-from-Permian supply while meeting
the technical needs of refiners across the
FIGURE 1

Platts Export Assessments versus NYMEX WTI

By Kevin Thibeau and
J.P. Bolton
Wheeler Resource
Recovery

60
40

$/b

What's popular at aogr.com:

Americas, Europe and Asia. The specifications of the WTI Midland grade crude
that underpins the Platts AGS assessment
are:
· Sulfur-0.2% or less by weight as
determined by ASTM Standard D-4294;
· Gravity-not less than 40 degrees
American Petroleum Institute, nor more
than 44 degrees API as determined by
ASTM Standard D5002;
· Vanadium-2 ppm or lower as determined by ASTM Standard D5708
Method B;
· Nickel-2 ppm or lower as determined by ASTM Standard D5708 Method
B;
· Reid vapor pressure-below 9.5
pounds per square inch at 100 degrees
Fahrenheit as determined by ASTM Standard D6377;
· Basic sediment, water and other
impurities-less than 1% as determined
by ASTM Standard D4007.
AGS reflects the typical cargo size
for FOB U.S. Gulf Coast trading of
700,000 barrels as dictated by the draft
restrictions for Aframax-size vessels at a
majority of docks used for crude exports.
Draft restrictions vary from dock to dock,

20
0
-20

Frac Facts:

Oil & Gas Prices:
Cash and 3-month
futures, updated every
11 minutes.

WTI FOB USGC

Fe
b21

-2
1

20

Ja
n

ec
D

N
ov
-2
0

-2
0

0

ct
O

Se

p2

-2
0

-2
0
Ju
l

WTI Cushing Month 1

Au
g

-2
0

0

Ju
n

0

ay
-2
M

Ap
r-2

ar
-2
M

-2
0
Fe
b20

Ja
n

0

-40

The latest in delivery
systems & proppants.

Platts AGS

FIGURE 2
U.S. Crude Values Spread to Platts Dated Brent
10
5
0
-5
$/b

North America
1-800-847-8301
International
001-316-788-6271

-10
-15
-20

www.aogr.com
30 THE AMERICAN OIL & GAS REPORTER

NYMEX WTI

WTI Midland

WTI FOB USGC

Platts AGS

Jan-21

Oct-20

Jul-20

Apr-20

Jan-20

Oct-19

Jul-19

Apr-19

Jan-19

Oct-18

Jul-18

Apr-18

Jan-18

Oct-17

Jul-17

Apr-17

-30

Jan-17

-25


http://www.aogr.com http://www.aogr.com

American Oil and Gas Reporter - February 2021

Table of Contents for the Digital Edition of American Oil and Gas Reporter - February 2021

Contents
American Oil and Gas Reporter - February 2021 - 1
American Oil and Gas Reporter - February 2021 - Cover1
American Oil and Gas Reporter - February 2021 - Cover2
American Oil and Gas Reporter - February 2021 - Contents
American Oil and Gas Reporter - February 2021 - 4
American Oil and Gas Reporter - February 2021 - 5
American Oil and Gas Reporter - February 2021 - 6
American Oil and Gas Reporter - February 2021 - 7
American Oil and Gas Reporter - February 2021 - 8
American Oil and Gas Reporter - February 2021 - 9
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American Oil and Gas Reporter - February 2021 - 16
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American Oil and Gas Reporter - February 2021 - 18
American Oil and Gas Reporter - February 2021 - 19
American Oil and Gas Reporter - February 2021 - 20
American Oil and Gas Reporter - February 2021 - 21
American Oil and Gas Reporter - February 2021 - 22
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American Oil and Gas Reporter - February 2021 - Cover3
American Oil and Gas Reporter - February 2021 - Cover4
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