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Monday, February 22, 2021

First Monday After The Recent Unfavorable Event -- February 22, 2021

Wasn't kidding: when Punxsutawney Phil said six more weeks of winter, he wasn't kidding. 

Gasoline demand: I forgot to post the graph last week. I'm not going to do it now; it was hardly worth posting then, and it's certainly not worth posting now. The new data will be out in a couple of days. Link here.

Why is every Willie Nelson cover better than the original?

The City of New Orleans
 
Focus on fracking; weekly edition has been posted. Link here.
  • record jump in oil exports to most since March, 2020;
  • oil supplies at 47-week low;
  • DUC well backlog falls to 12.5 months:
It will never snow again: link here.

EPD: it's not what you think. Coming: a stand-alone post. 

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Back to the Bakken

Active rigs:
$61.04
2/22/202102/22/202002/22/201902/22/201802/22/2017
Active Rigs1554665643

No wells coming off the confidential list. Tomorrow, two, and then one more on Wednesday, and that will be it for the week. If it gets any slower, I'm going to have to lay-off Sophia as the fact-checker, spell-checker, and gopher. Even the number of active rigs hasn't changed in ages. Fortunately we have Dr Fauci whose narrative changes daily; often more often depending on how many celebrity talk shows he visits.

RBN Energy: February's cold blast sets new recors for the Canadian natural gas market.
The February 2021 polar vortex will be one for the natural gas record books in the U.S. and Canada — and the month isn’t even over yet! 
Though no stranger to frigid weather, Canada’s natural gas market has felt the impacts of this month’s extreme cold on both sides of the border. Its own prices, demand, and storage withdrawals have reached multi-year or all-time records as gas buyers have jockeyed for molecules from anywhere they can get them. Gas exports to the U.S. have reached highs not seen for more than a decade, adding emphasis to what has been an emerging turnaround story for Canadian gas into the U.S. market. To top things off, the latest gas market records might be a preview of what is to come in the next few years as Canada’s structural demand for natural gas continues to increase, regardless of how cold it is. Today, we describe all the latest Canadian gas market action and what might be in store for next winter.

2 comments:

  1. Gotta admit, with Waylon, Kris and Johnny Cash as your backup singers... Hard to go wrong with that.

    ReplyDelete

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