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.

Perseverance

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Back to the Bakken

Active rigs:

$61.68	2/23/2021	02/23/2020	02/23/2019	02/23/2018	02/23/2017
Active Rigs	15	54	66	56	41

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.