Notes From All Over, Part 2 -- January 1, 2020

Net exporter: hardly news any more. From Rigzone. US returns to being a net oil exporter. 

Huge: Shell makes Haynesville shale deal. Rigzone.

• buyer: Castleton Commodities International LLC's subsidiary, Castleton Resources LLC (CR) 
• seller: Shell's subsidiary, BG US Production Company, LLC
• 222,400 net acres
• 334 million cubic feet equivalent per day
• East Texas and North Louisiana
• at same time, Tokyo gas American Ltd will increase its interest in CR from 30% to 46%
• if I did the math correctly, to put this in perspective, the Bakken produces about 8 million cubic feet equivalent (3 billion cubic feet/day / 365 days)

McDermott: Chapter 11 pending; no link; story everywhere;

Year-end update: global oil production, supply, demand, over at Rigzone;

• OPEC+ will have a devil of a time capping production
• four non-OPEC producers will be huge thorn in side of OPEC
• Brazil
• Canada
• Norway
• Guyana
• and, of course, the US is now a net oil exporter for the first time in decades
• some traders are betting US shale production could slow in 2020, helping to maintain prices
• operative words in previous data point: "some" and "could"

Finally:

• Delek and partners achiever first gas offshore Israel -- Rigzone;  
• Delek, Noble Energy, Ratio Oil Exploration
• jointly announced the find from the largest natural gas field in the eastern Mediterranean
• capital expenditures were $150 million under budget
• recoverable resources of 22 trillion cubic feet (Tcf) of natural gas

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Well-Played ... by the US

It's not over yet, but it appears the Iran-backed militia were the big losers. The Iranian leadership obviously hoped:

• that the two dozen or so militia would escalate into a much larger mob;
• that the militia would score a hostage or two;

Neither happened, and the US did not let this become another Benghazi.

The US Marines guarding the US embassy in Iraq must have been absolutely incredible. US reinforcements rushed in and more are on the way. If nothing else happens, this will be off the front pages by the end of the week and Iran will be left wondering what the US will do next.

In the previous administration we would have gotten another speech and possibly another Benghazi.

No doubt, Kim Jong-Un is watching closely.