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NKLA: plummets 25%; founder unexpectedly resigns.
Ronald Perelman: In "romance" the term is usually reserved for women. What does one call a male goldigger?
Beef: on sale. Once in short supply, now it's on sale. The WSJ. We noted that several weeks ago. Oh, well.
Miranda: new British comedy on public television, late night Sunday. Looks like a winner. Crow Upstart also good but a bit, shall we say challenging, for US viewers. Wiki entry on Miranda here.
PGA: US Open -- incredible.
And that's it. Nine minutes
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Back to Energy
Op-ed: worthless article, but for the archives. Some producers setting records. Rig counts don't matter. It's all about the frack spreads, now.
The American Petroleum Institute’s August data report shows the drilling has dropped to the lowest level we’ve seen since Nov. 2001 – nearly two decades! But drilling productivity has been breaking records, which means that well-run producers continue to find ways to make margin at these price levels
OPEC basket, link here. Color me impressed. Staggering recovery. All the way back to .... $43 ... where it was June, 2020.
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Back to the Bakken
Bakken refiner wins another court battle: link here.
The North Dakota Supreme Court has ruled in Meridian Energy Group, Inc.’s favor in the final litigation matter regarding the permitting for constructing the Davis Refinery near Belfield, N.D., Meridian reported Wednesday. The company explained the state’s highest court affirmed a lower court ruling upholding a North Dakota Public Service Commission (PSC) decision to dismiss a complaint on the refinery’s siting.
Meridian pointed out the final litigation milestone allows the company to proceed with the refinery project. It noted the ruling marks the latest court victory for the project, whose state Department of Environmental Quality air quality permit to construct was affirmed by the high court on June 30, 2020. The earlier decision clears a path for Meridian to complete engineering, procurement and financing for the Davis facility, the firm added.
Prices: "everything is up" except WTI
- WTI: down 2%
- OPEC basket: up 2%
- Urals: up over 4%
- Louisiana light: up almost 1%
NOG: announces completion of 1-for-10 stock split.
Active rigs:
| $40.23 | 9/21/2020 | 09/21/2019 | 09/21/2018 | 09/21/2017 | 09/21/2016 |
|---|---|---|---|---|---|
| Active Rigs | 11 | 58 | 66 | 57 | 33 |
Six wells coming off confidential list:
Monday, September 21, 2020: 136 for the month; 207 for the quarter, 653 for the year
- 36465, SI/A, Whiting, Joseph Verne 12-13-2H, Sanish, t--; cum 72K over 3.5 months;
- 34788, drl/A, Nine Point Energy, Missouri 152-103-4-2-6H, Eightmile, no production data,
- 34787, drl/A, Nine Point Energy, Missouri 152-103-4-2-5H, Eightmile, no production data,
- 34786, drl/A, Nine Point Energy, Missouri 152-103-4-2-2H, Eightmile, producing, 54K over 4.5 months;
Sunday, September 20, 2020: 132 for the month; 203 for the quarter, 649 for the year
- 36840, drl/A, Hess, TI-State-158-95-3635H-9, Tioga, producing, 66K over 3.5 months;
- 36689, SI/A, Whiting, Iverson 41-14HU, Sanish,
Nine Point Energy's Missouri wells are tracked here.
RBN Energy: today's note will be a stand-alone post. Still the best energy blog out there.
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