Since we are back to +/- $60 WTI Is there still a premium on Louisiana Sweet crude as compared to WTI? And if there is how much?

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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

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

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

Joe Louisiana Light spot price closed yesterday at $64.93.

Louisiana light closed 4-30-15 at $65.67

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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