Oh, oh: last week I said the "tipping point" was the UAL earnings report and the comments / guidance by the CEO. Today: Southwest Airlines makes new voluntary leave offer to cut costs. The reason this is newsworthy and very, very scary: LUV was the single airline doing all it could to "protect" its employees. This is not good.
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Oh, oh: new administration to ban new leasing permits on federal lands, waters for one year. Does anyone know if the Missouri River / Lake Sakakawea is federal or Amerindian sovereign. If the former, not good news for the Bakken. Even if one acre in a 1280-acre drilling unit is in federal waters, the drilling unit is "dead." My hunch: NDIC will allow drilling units with some very strange acreage, such as a 1145-acre drilling unit to make sure the drilling unit is only BLM and not federal waters. I don't know. Just thinking out loud.
Oh, oh: new administration to ban new leasing permits on federal lands, waters for one year. Not to worry. That's the least of our problems for the next four years.
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Back to the Bakken
Active rigs:
| $52.99 | 1/27/2021 | 01/27/2020 | 01/27/2019 | 01/27/2018 | 01/27/2017 |
|---|---|---|---|---|---|
| Active Rigs | 12 | 55 | 65 | 57 | 38 |
No wells coming off the confidential list today.
RBN Energy: US propane prices spike, then ricochet. What's next in 2021?
Things move fast in today’s propane market. Two weeks ago, Mont Belvieu propane was going for almost 95 cents/gal, up 86% from the mid-November price of only 51 c/gal. Midcontinent propane assessed in Conway, KS, spiked even higher, doubling over the same time frame to more than a dollar per gallon. But last week some air came out of the balloon, with Mont Belvieu and Conway prices pulling back to the low 80s.
That didn’t last long either. This week, Mont Belvieu is back up to the high 80s c/gal. What gives? Is the market simply being bounced around by vacillating weather forecasts? Or is there more to it than that? Could it be that we are seeing symptoms of an export-driven transformation that is making propane markets behave quite different than they have in the past? Today, we’ll consider these questions and where the propane market may be headed in 2021 and beyond.
Don't know if you caught this Bruce: https://www.washingtontimes.com/news/2021/jan/26/biden-admin-says-tribes-exempt-drilling-freeze-aft/
ReplyDeleteAs the world turns.
Yes, that's why I asked the question. If the under the Missouri River is federal or BLM. My hunch is it federal, not BLM. But I don't know. If it's federal and not BLM it's not exempt as I understood the news articles.
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