MRO Reports One Well Today, A DUC -- June 15, 2021

SRE: declares quarterly dividend, $1.10, in line with previous.

COP / CONCHO: update; nice graphics; not posted for investment advice; over at SeekingAlpha. Archived.

WTI: up 1.33%; up almost a buck; now trading just under $72. 

Twit: on May 20, 2021, some twit asked "where are all the $70-Brent bulls now?" 

I replied: "Quietly buying Chevron stock."

Then:

• Brent: $65
• CVX: $102.61

Today:

• Brent: $74 (rounded from $73.66)
• CVX: $109.05 at the opening -- whoo-hoo.
  

CVX:

• $109.81 at 8: 57 a.m. CT - another whoo-hoo.
• $110.39 at 9:07 a.m. CT.

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Back to the Bakken

Active rigs:

$71.82	6/15/2021	06/15/2020	06/15/2019	06/15/2018	06/15/2017
Active Rigs	19	13	61	62	56

Wells coming off the confidential list -- Tuesday, June 15, 2021: 64 for the month, 88 for the quarter, 166 for the year:

• 37773, drl/NC, MRO, Perry USA 41-6TFH, Reunion Bay, no production data,

RBN Energy: how Covid-19 reshaped the future of North American LNG projects, part 3. Archived.

Appetite for new North American LNG export capacity had been waning already when COVID-19 brought it to a screeching halt. The global gas market was expected to be well-oversupplied through the mid-2020s as U.S. liquefaction capacity additions, combined with supply growth from Australian LNG projects, were far outpacing any increase in demand. However, the past year or so has proven how quickly things can swing from oversupplied to undersupplied. 

The extended run of high global gas prices is bringing renewed interest in expanding North American LNG export capacity. Although COVID dashed the prospects of many LNG projects, a handful have emerged from the morass of the past year stronger and with a clearer path to FID than ever before. Those that remain will be better positioned if they can navigate four emerging trends that are key for offtaker agreements in the post-COVID era: shorter contract terms, increased pricing or deal-structure diversity, reduced environmental impact, and a prioritization of brownfield expansions or phased greenfield projects. Today, we conclude the series on the status of the second wave of LNG projects.