Two Wells Coming Off Confidential List Today -- July 7, 2020

Oh-oh:

"Breaking 911": I can't find details, but it looks like "Breaking 911" has been suspended from Twitter again. No "Breaking 911" tweets on my twitter feed since last night. One could expect at least a dozen tweets overnight. 

Market, mid-morning:

• AAPL: hits an all-time new high; up over 1%; adds another $4.28 to be trading at $378.04; market cap ever so slightly above MSFT which is also having a great day
• TSLA: unreal -- up another 3.5%; up $47 to be trading at $1,420. Again, a nice milestone, easy to remember, $1400.
• Dow: has cut its "losses" from 300 points down at the beginning of the session to being down 150 ponts today
• hunch: the Dow will close today, somewhere between being up 200 points and down 1,000 points; but in early morning trading, it is clear traders want to move this market higher; 
• sell in May, go away? LOL. It's Christmas in July for some.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

$66-oil? There's a headline over at oilprice that a "top energy analyst" see oil soaring to $66 in 2021. I won't read the article, but I wouldn't bet against him/her. Saudi can't survive on sub-$60 oil and Saudi will do whatever it takes to get the price back up. Period. Dot. 

OPEC Basket, link here: $43.54.

More on the pipeline stories. Link here.

For Berkshire, the deal means that Warren Buffett’s company will soon account for 18 percent of all natural gas moved across state lines, up from 8 percent currently.

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Back to the Bakken

Active rigs:

$40.79	7/7/2020	07/07/2019	07/07/2018	07/07/2017	07/07/2016
Active Rigs	10	58	64	56	30

Two wells coming off the confidential list today:  

Tuesday, July 7, 2020: 27 for the month; 27 for the quarter, 472 for the year:

• 37162, drl/NC, WPX, Pronghorn 22-15HUL, Spotted Horn, no production data,
• 37059, drl/NC, CLR, Angus Federal 8-9H1, Elm Tree, no production data,

RBN Energy: low-carbon programs spur more renewable diesel.

They’re generally small in size, but renewable diesel refineries are popping up in many parts of the U.S., incentivized by government programs aimed at reducing carbon emissions and very gradually weaning Americans — and Canadians — from crude oil-based diesel fuel. Recently, HollyFrontier Corp. announced that it will be converting its decades-old Cheyenne, WY, refinery into a renewable diesel facility. While the news of another entrant into the renewable diesel market is not surprising, the complete shutdown and transformation of an existing refinery for this purpose marks only the second time this has occurred in the U.S. Today, we discuss HollyFrontier’s plans and provide an update on renewable diesel supply and demand dynamics.