Friday, June 4, 2021

Rick Santelli -- Wow, Wow, Wow -- Got It Exactly Right -- June 4, 2021

PTI: reminder -- National Doughnut Day -- if you are unable to find a free doughnut anywhere, you are not trying hard enough. 

Santelli: Nailed employment numbers and unemployment rate. 

I'm really impressed.

Really beat Steve.Liesman.

Santelli:

  • 550,000 estimate vs 559,000.
  • unemployment number: 5.8% vs 5.8%

Market futures right after the number released: unchanged. 

Market futures ten minutes after the number released: Dow reverses from "red" to "green." 

****************************************
Back to the Bakken

Brent: $71.67

Active rigs:

$69.25
6/4/202106/04/202006/04/201906/04/201806/04/2017
Active Rigs2012646151

One well coming off confidential list.

Friday, June 4, 2021: 41 for the month, 62 for the quarter, 143 for the year:

  • 36549, 248, Oasis, Thelen 5297 11-6 5T, Banks, t12/20; cum 72K 3/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-20212666506668110942981029142519
BAKKEN3-20213113177131511921947574453722024
BAKKEN2-2021281759917602223916516764272735
BAKKEN1-2021312208522093297856601365064771
BAKKEN12-2020261278212759233943705536171752

RBN Energy: how Covid-19 reshaped the future of North American LNG projects, part 2. Archived.

Global gas prices are in the midst of the longest and strongest bull run since 2018 and fundamentals appear supportive of sustaining the rally through at least the upcoming winter. The higher international prices relative to Henry Hub have buoyed demand for U.S. LNG exports. 
Existing terminals are operating at or near full capacity, and their combined feedgas demand has been steady, averaging more than 6 Bcf/d higher than this time last year when economic cargo cancellations from COVID-19 were heading towards their summer peak. The improved economics for delivering U.S. LNG to international destinations have also renewed interest in offtake agreements for a handful of the second wave of North American LNG projects that had been sidelined because of the pandemic (many others still are). These projects are taking advantage of the less crowded market, which gives them a realistic path forward to reach a final investment decision (FID). In today’s blog, we continue the series on the status of the second wave of LNG projects.

4 comments:

  1. Serious depletion rate on that well you posted.

    ReplyDelete
  2. I switched, after being a faithful viewer for many years, from CNBC to Maria and company at Fox Busines (and now with the entertaining Larry "Kurmudgeon" Kudlow). But the guy I miss the most from CNBC is the undaunted Rick Santelli---- and Joe Kernen too. But CNBC just got too woke for me.

    ReplyDelete
    Replies
    1. Wow, you are so correct. I watch CNBC early in the a.m. with Joe Kernen mostly to see how the futures are going to do; I generally have the volume off.

      Jim Cramer remains a hoot. I watch him for the entertainment value, not for much else.

      By nine a.m. I am ready to turn it off for the day, but often check in for the FAST MONEY panel at 4:00 p.m. CT. That group is pretty level-headed and real investors.

      Finally, Rick Santelli -- the absolute best. Out of Chicago and has the personality of a pugnacious commodities trader.

      Delete

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