Four Wells Coming Off The Confidential List -- January 20, 2021

Without question, the big story today is Canadian crude oil import story. See RBN Energy below. 

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. 

NASDAQ: wow, has anyone looked at the NASDAQ chart since March 1, 2020? Holy mackerel. We'll post a graphic later, if I remember.

Energy headlines:

• US net exporter: in 2020, the United States exported more crude oil and petroleum products than it imported on an annual basis for the first time in EIA's data series that dates back to 1949. Link here to EIA. Link here to twitter.
• Ethane: largest single shipment of ethane heads to China after loading at US export facility. S&P Global Platts.
  
• OXY: from the Texas Monthly -- how the most hyped US oil merger in a decade went bust.
• Got coal? Vietnamese coal imports hit record high in 2020. They'll need more now that Apple's Foxconn is moving there.
• LNG: oil majors win big as LNG prices soar.
• Lithium shortage: could hold back the EV revolution. So often reported it's becoming an old story.
  
• NFLX: why Netflix stock is going "haywire" after its latest earnings report.
• Apple: changes to hardware coming.
• Apple: Apple stock is not a bubble -- Wall Street power player.
  
• Keystone XL: to be killed (again). No links; story everywhere. It will be interesting to see how the new administration threads this needle. Otherwise, Trudeau and Biden are going to get off to a very, very rocky start.
• Antifa effect? The number of homes for sale in Portland, OR, has dropped to an all-time low.
• American Airlines to resume pilot hiring again.
• Kaput: how Volkswagen's $50 billion plan to beat Tesla short-circuited. The WSJ.
  

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Earnings

Earnings to watch today:

• P&G
• UnitedHealth
• Bank of New York Mellon
• Kinder Morgan Inc
• United Airlines Holdings
• Alcoa

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Back to the Bakken

Active rigs: very nice mix of operators right now --

$53.47	1/20/2021	01/20/2020	01/20/2019	01/20/2018	01/20/2017
Active Rigs	12	56	68	58	38

Four wells coming off the confidential list -- Wednesday, January 20, 2021: 30 for the month, 30 for the quarter, 30 for the year.

• 37504, loc/NC, CLR, Miles 13-6H2, Dimmick Lake,
  
• 37224, loc/drl, XTO, Kulczyk 43X-17F, Alkali Creek, no production data,
  
• 37223, loc/NC, XTO, Kulczyk 43X-17EXH, Alkali Creek,
  
• 36244, loc/NC, BR, Maverick 2C TFH, Dimmick Lake,
  

RBN Energy: As more Canadian crude oil flows south, a push to expand pipes. Part 2.

U.S. crude oil imported from Western Canada averaged almost 3.6 MMb/d in the first 10 months of 2020 and accounted for 60% of total imports over the period. That’s some growth! 

Ten years ago, Canada was sending less than 2 MMb/d south and contributing only 21% of total U.S, import volumes. Alberta oil sands producers are planning for more production and export growth through the 2020s, with most of the incremental volumes bound for Midwest and Gulf Coast refineries and export docks. 

If that happens — and there’s no certainty it will — more north-to-south pipeline capacity through the U.S. heartland will be needed. Today, we continue our series on the efforts to expand or reverse crude oil pipelines between the U.S./Canada border and the Gulf of Mexico.