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."
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Back to the Bakken
Brent: $71.67
Active rigs:
| $69.25 | 6/4/2021 | 06/04/2020 | 06/04/2019 | 06/04/2018 | 06/04/2017 |
|---|---|---|---|---|---|
| Active Rigs | 20 | 12 | 64 | 61 | 51 |
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;
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 4-2021 | 26 | 6650 | 6668 | 11094 | 29810 | 29142 | 519 |
| BAKKEN | 3-2021 | 31 | 13177 | 13151 | 19219 | 47574 | 45372 | 2024 |
| BAKKEN | 2-2021 | 28 | 17599 | 17602 | 22391 | 65167 | 64272 | 735 |
| BAKKEN | 1-2021 | 31 | 22085 | 22093 | 29785 | 66013 | 65064 | 771 |
| BAKKEN | 12-2020 | 26 | 12782 | 12759 | 23394 | 37055 | 36171 | 752 |
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.
