Fourth Round -- Notes From All Over -- The Early Saturday Afternoon Edition -- March 13, 2021

NASCAR: Phoenix, today at 4:30 p.m. CT. Check local listings.

Crestwood's Bakken system looking good. After tough start in 2020, Crestwood Bakken's system is looking good, says 4Q20 earning report.

• Crestwood Equity Partners LP's Arrow system; Fort Berthold Indian Reservation;
• record volumes of natural gas, crude and water in 4Q20;
• company expects a lot more activity in 2021;
• "extremely economic" in a $55- 60/bbl crude price environment;
• expects to connect 45 three-product wells in 2021 if crude oil remains near $60
• crude oil
• natural gas
• water
• twenty-five to thirty of those 45 wells are now DUCs;
• company connected 21 three-product wells in 4Q20:
• company connected 70 such wells in all of 2020;
• Arrow estimates about 600 three-product drilling locations in its catchment area;
• "many of Arrow's customers on very strong financial footing" after increased level of M&A;
• won't be affected by Biden's "America Last" energy policy because BLM was excluded in the executive order;
• Crestwood continues to develop contingency plans if DAPL shutdown;
• current volume (2020: 130,000 bopd
• alternate if DAPL shut down: three pipeline outlets with a capacity of more than 120,000 bopd;
• also has trucking options; "a big increase in new contracting and demand" over the last few months:
• also excited about Powder River Basin after its largest producer customer, Chesapeake Energy Corp, emerged from bankruptcy;
• about 60% of Chesapeake's mineral acreage is on private or state lands
• in the PRB, Crestwood's gathering systems:
• Jackalope system
• Bucking Horse processing plant
• Chesapeake Energy: 
• nearly 540,000 net acres in Appalachia
• 420,000 net acres in Brazos Valley of east Texas
• 225,000 net acres in the Gulf Coast region
• 220,000 net acres in South Texas (Eagle Ford?)
  

Defunding police: Belfield, ND -- to disband police department. Link here. K-9 Thor out of a job.

ND wind: wind farms won't be required to install "red light" mitigation technology. Link here. USAF says to do so would give China, Russia, Iran advantage if we go to war. Okay. That's a stretch. Older wind farms constructed before permits were required will now be required to have permits if they want to replace old turbines with new turbines.

Non-fungible tokens: more elitism, white privilege. Link here. Big player in NTFs? Nicole Buffett. Yes, that Buffett:

In Los Angeles, artist and portrait photographer Justin Aversano creates his own work and collaborates with partner Nicole Buffett (Warren’s artist granddaughter). Through their individual and combined works, they sold more than 130 pieces in two weeks to the tune of more than $100,000. He describes the emerging NFT phenomenon growing from a sense of community.

Think Missoula, MT: Montana, second hottest housing market in the US, according to Bankrate.com.

Utah: hottest housing market, making Missoula, MT, the penultimate in housing heat;
weakest housing market in 2020: Hawaii. Rounding out the top five: Nebraska, Idaho and Indiana.

China coal: China is making no shift from coal in five-year plan; set out incremental increases in climate targets to 2015, allowing for continued expansion of "clean" coal -- disappointing climate watchers. Link here. Disappointed today; "woke" tomorrow.

US crude oil production: second highest ever in 2020, despite dropping back eight percent, the largest annual decrease on record. Link here.

"America Last" energy policy: making enemies abroad rich. Link here.

• New Mexico politicos not happy. Link here. Actions have consequences. "Woke."
• Biden administration will re-evaluate "America Last" energy policy March 25, 2021. Link here. Story is in Reuters health care section.