Winter? Yup, It's Winter -- February 12, 2021

Rosneft: profits slide almost 80% in 2020. 

Gazprom: to start Nord Stream 2 gas pipeline this year.

Market: I was sure there was going to be a huge sell-off this morning. It may still happen -- the day has just begun, but if we have a weekly gain, that will be nice.

Apple: shareholders have their dividend; paid yesterday.

Talking heads: inflation possible. 

Winter: yup, it's winter. 

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Back to the Bakken

Active rigs:

$58.47	2/12/2021	02/12/2020	02/12/2019	02/12/2018	02/12/2017
Active Rigs	15	56	63	58	36

Friday, February 12, 2021: 7 for the month, 40 for the quarter, 40 for the year.

• 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 61K 12/20;
  

RBN Energy: gas processing build-out continues in Permian's Delaware Basin, part 2. Archived.

Permian producers and midstreamers have faced a lot of uncertainty over the past 12 months. First, they wondered how much demand destruction would be caused by pandemic-related lockdowns, how low crude oil prices might fall, and how much production would be cut back and where. Then, they needed to assess how quickly demand, prices, and production levels would rebound, and determine whether the gathering systems, gas processing plants, and other infrastructure they had been planning pre-COVID should proceed according to their original schedules or be delayed or even canceled. As it turned out, most of the projects went ahead, the developers anticipating — correctly, it now appears — that if any U.S. production area will keep growing, it will be the Permian. Today, we continue a short blog series on gas-related infrastructure development in 2020-21, this time focusing on the Delaware Basin.

The companies that drill for crude oil and natural gas in the Permian and build the pipes and processing plants that help bring those commodities to market, lived a Tom Brady kind of life in the second half of the 2010s. Sure, they may have suffered a minor setback or two, but generally speaking, everything for Permian producers and midstreamers was up and to the right. Then came 2020, an unforgettable year — and in a bad way.