Without question, this is the top story in the energy sector this past week: Saudi Arabia's foreign exchange reserves plummet.
For the archives, a story that is being misread / mis-reported -- the Trump trade war begins in earnest; WTI is dropping.
The Trump administration gave 25 US small refineries a new lease on life by rolling back (with waivers) RIN requirements.
Another big story is all the focus on the Permian in the past week; and here. The biggest story in US shale right now is the severe lack of adequate takeaway capacity in the Permian, affecting both crude oil and natural gas production. Has anyone noticed that we don't get media excitement over the amount of fracking or flaring in Texas, at least compared to the hysteria regarding the Bakken? Perhaps I'm biased, but I doubt it. By the way, this severe lack of takeaway capacity has put Permian crude pricing into a tailspin.
And more on the Permian: comparing rig efficiency in the Permian with that of the Bakken; and, here.
On a non-energy note, but one that will affect the Bakken, Williston set a new all-time "cold" record this past week. It broke the record last set in 1936.
The top Bakken story: SM Energy makes it official -- the company will exit the Bakken.
Operations
A new operator in North Dakota: Challenger Point Energy
Pipelines
A reminder: how important the DAPL was for North Dakota
Other formations
The Madison -- a workover (a frack of sorts) -- jump in production
Bakken economy
Finally, a breakdown of Legacy Fund investments, ROI
Miscellaneous
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