Two Wells Coming Off The Confidential List -- March 4, 2021

Bloodbath: twitter reporting bloodbath among EVs today; TSLA plummets another 3%; now trending  toward $630. GM down 5%. F down about 1%.

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Buffett grinning: CVX up another 2.35%; now trading over $106. Same with XOM; now trading over $58.

Asphalt terminalling:

• Blueknight Energy exits, link here;
• Enbridge acquires assets;
• ENB up slightly;
  
• Blueknight Energy Partners, asphalt terminalling services. 

Over at twitter: MLPs back in favor.

• EPD: up about 1%;

General Dynamics: increases quarterly dividend by 8.2%; new, quarterly: $1.19/share

• has raised its dividend for 24 consecutive years
• annual: $4.76/share; 2.8%
• 4Q20 EPS: $3.49; missed forecasts of $3.54; down slightly y/y
• 4Q20 revenues: $10.5 billion vs $10.8 billion forecast; declined 2.7% y/y
  

GM extends NA auto production cuts: link here.

GM looking to build second battery factor in US: The WSJ.

• joint venture with LG Chem
• Tennessee eyed as a plant site

XOM: Exxon is in the oil and gas business; get over it.

• will outperform the likes of BP
• new price target: $84

Biden: good news for oil and gas; link here.

• since Biden's victory, the big Oil & Gas ETF is crushing the big solar ETF
• just like everyone predicted

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Back to the Bakken

Active rigs:

$60.98	3/4/2021	03/04/2020	03/04/2019	03/04/2018	03/04/2017
Active Rigs	15	50	68	59	45

Operators for the fifteen rigs:

• MRO (4): Kenyon; Mabel USA; Kulland USA; Flagg USA
• CLR (3): Gordon Federal; Rodney 6, Rodney 11;
• Hess (2): EN-Rice; EN-Joyce
• WPX: Charles Blackhawk
• Ovintiv: Kestrel
• Oasis: Nikolai Federal
• Whiting: Lacey
• Slawson: Whirlcat Federal
• Petro-Hunt, Hurinenko

Two wells coming off confidential list -- Thursday, March 4, 2021: 8 for the month, 64 for the quarter, 64 for the year.

• 37308, drl/NC, WPX, Crosby Chase 2-1HC, Spotted Horn, first production, --; t--; cum --;
  
• 36245, drl/NC, BR, Maverick 2D MBH, Dimmick Lake, first production, --; t--; cum --;

RBN Energy: refiners' crude slates, exports show Canada's self-sufficiency, part 4. 

Many countries like to talk about energy independence, but Canada is one of the few to come close to that elusive goal. For many years, Western Canada has produced more than enough crude oil to satisfy the demand of refineries in the region. More recently, a combination of rising Western Canadian oil production, and new and reworked pipelines, has enabled many of Canada’s eastern refineries to increase their intake of Western Canadian barrels. In the few remaining cases where they can’t, imported barrels from the U.S. have filled the gap, leaving crude imports from overseas accounting for just 1% of the market. Not surprisingly, Canada is also a net exporter of refined products, with refiners in Western Canada, and especially Atlantic Canada, producing far more than the country’s demand. Today, we conclude our series on Canada’s refining sector with a look at its growing reliance on Western Canadian crude oil and its ability to meet most of Canada’s need for gasoline and distillates.