Thursday, March 18, 2021

That Ban On Leasing On Federal Land? Not So Much -- March 18, 2021

If logic prevails, pop quiz:

  • prevailing theme: OPEC is in control of the price of oil this year;
  • Saudi Arabia cannot survive on $60 oil
  • Conclusion: fill in the blank -- ___________________________________________.

Hess: sells Danish assets to Ineos; link here;

  • Ineos Energy will acquire Hess Corp subsidiary Hess Denmark for $150 million
  • Ineos will acquire 61.5% of the Hess-operated South (Syd) Arne oil field in the Danish North Sea
  • this will add to the 36.8% share Ineos already holds in the field:
  • Ineos will also acquire 4.8% of Solsort field, which is already operated by Ineos
  • lots of "green" talk in the article

Mexico: this was posted a few days ago; a prediction that Mexico would announce an oil discovery;

  • such announcements are usually made about this time every year:
  • generally, political announcements;
  • folks not taking the announcement of the discovery very seriously;

Norway: Sweden's Lundin Energy sees growth in Sverdrup oilfield;

  • Lundin is partnered with Norway developing this field
  • production capacity from 2.2 billion to 3.2 billion boe;
  • largest field in western Europe
  • recoverable reserves already revised up several times since its startup in October, 2019;

 Natural gas: Henry Hub forwards hit two-month low as summer supply outlook turns bearish.

Shale: 0% growth, free cash flow, and inventory analysis.

Shale: first shale IPO in years leaves Wall Street unimpressed.

  • Vine Energy Inc: 21.5 million shares for a total of $301 million;
  • Plano, TX, based.
  • Focus: natural gas, Haynesville
  • planned: $16  - $19 / share IPO
  • actual: $14 / share; raised $281 million

BLM: not Black Lives Matter. The other "BLM." BLM is now approving permits for Federal lands.

Scam: "blue hydrogen" is not green either; if anything, it's "brown"; link here;

  • BP is going "green"
  • BP will help the UK not use natural gas by using hydrogen made by natural gas
  • which makes CO2 in the process

Vaccine: India, major vaccine producer may have trouble meeting demand; link here;

  • who's to blame: the US
  • why: US exports bans on specific items to make vaccines, such as specialized bags and filters
  • source: BBC
  • something tells me there is more to the story;

US steel:

  • the south has risen again!
  • the southern US has emerged as the nation's top steel-producing region in 2020;
  • Alabama, Arkansas, Mississippi, and South Carolina;
  • culminates a steady shift away from the traditional steelmaking rust-belt in the north
  • coming up short: Chicago, Detroit, Cleveland, Pittsburgh;
  • link here;

Politics: CNN has lost 47% of its primetime audience in the 25 - 54 age demographic since President Trump left office. Link here.

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