No New Permits -- Did The President Shut Down The Bakken? -- February 5, 2021

New records: both NASDAQ and the S&P 500 hit new all-time records today. Whoo-hoo. The Dow might have had a record-setting day but AAPL was down slightly -- it was ex-div for AAPL today; will pay February 11, 2021. 

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Awesome: Total feeling Biden's love.

France’s oil and gas supermajor Total is buying four large-scale solar power projects plus battery storage assets in Texas, with which it plans to meet the electricity demand of all its industrial sites in the United States, including the Port Arthur refining and petrochemicals platform and La Porte and Carville petrochemical sites.

The French oil major, which has been boosting its renewable electricity portfolio and has been signing lots of power purchase agreements (PPAs) for green energy in recent months, is buying the four solar projects of a total of 2.2 gigawatts plus 600 MW of battery storage assets from SunChase Power and private energy investment firm MAP RE/ES. All projects, each with co-located battery energy storage systems (BESS), are in industrial areas near Houston with high electricity demand and are expected to come online between 2023 and 2024, Total said on Friday.  

The oil major will commit to a 1-GW corporate PPA sourced from this solar power and energy storage portfolio to cover all the electricity consumption of its operated industrial sites in the U.S., including those in Port Arthur, La Porte, and Carville.

“With this latest acquisition, Total is now developing close to 4 GW of renewable power capacity in the U.S., thus contributing to our objective to reach close to 35 GW of renewable generation capacity by 2025,” Total’s chairman and chief executive Patrick Pouyanné said in a statement.

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Back to the Bakken

Active rigs:

$56.85	2/5/2021	02/05/2020	02/05/2019	02/05/2018	02/05/2017
Active Rigs	15	54	63	58	40

No new permits: did the President shut down the Bakken? 

Another nine CPEUSC wells acquired by Resource Energy Can-Am, all in Divide County:

• five Fairholm wells;
• one each: Lancaster, Ridgeway, Jurasin, and Elgaard