Tuesday, February 23, 2021

WTI Hits $62 Overnight; Pulls Back A Bit -- February 23, 2021

Suncor: link here

India: oil imports from North American break another record. Link to Charles Kennedy.

Free cash flow. This is exactly what CLR said during its earnings call. Link here.

Must-watch YouTube: this is real video footage -- not artists' depictions. If this is confusing or disorienting, read the comments at the link.


Back to the Bakken

Active rigs:

Active Rigs1554665641

No wells coming off the confidential list.

RBN Energy: propane and the 2021 deep freeze; where are we now? 

Here in Texas, the snow is melting, the power is back on, and some of us even have drinkable water.  We’ll be dealing with the aftermath of the 2021 Deep Freeze for months, and talking about the insane natural gas and power prices for as long as gas and power markets exist. One thing you have not heard much about during these crazy few days is propane. And given what we’ve been through, no news is good news. Sure, it was impossible to exchange a tank at the local Quickie Mart, and there were sporadic reports of delayed propane deliveries and local shortfalls. 
But even up in the coldest Midwest states, there were no market meltdowns, no skyrocketing prices. 
Instead, propane has been the go-to fuel to keep folks warm, to get energy production moving again by defrosting wellheads and pipeline valves, and even to get restaurants back on their feet. It’s always dangerous to declare a winter victory with a few weeks left to go in the season, but today we’ll take that risk.


  1. In regards to your note on propane. Most on location heat on sight for thawing operations is transitioning over to "flameless" heaters.
    Ironically hot oilers still pull onto location and fire up that flamed propane fired heater to treat wells, assist in operations and yes occasionally thaw well heads and lines.
    However if you're planning on renting out a heater(s) it had better be flameless or you won't be getting any business.

    1. Thank you. I would never know. Amazing how much we learn after/during a crisis. Thank you for taking time to write.