Seven Wells Coming Off Confidential List -- June 7, 2021

Focus on Fracking: posted --

• oil prices at new 31-month high;
• refinery utilization rate and throughput at post-pandemic highs

$70: WTI for a short time on Sunday, June 6, 2021.

Tesla: officially cancels its flagship sedan, the Model S Plaid Plus; would have delivered 520 miles of range, and acceleration from 0 to 60 in less than two seconds. 

Merger: Civitas (BCEI/XOG) reportedly buying DJ producer Crestone (BROE / Canada Pension) for $1.3 billion in stock and assumption of debt. Link here. 

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Back to the Bakken

Williston sweet: $57.25

Active rigs:

$69.42	6/7/2021	06/07/2020	06/07/2019	06/07/2018	06/07/2017
Active Rigs	21	12	64	60	52

Seven wells coming off confidential list --

Monday, June 7, 2021: 48 for the month, 69 for the quarter, 150 for the year:

• 37830, drl/NC, WPX, Dakota 1-36HUL, Heart Butte, first production 4/21; t--; cum 31K 4/21;
• 37677, drl/NC, MRO, Ortman USA 34-31TFH, Reunion Bay, no production data,
• 37378, drl/NC, CLR, Rodney 7-29H, Cedar Coulee, no production data,
• 36552, 507, Oasis, Thelen 5297 12-6 7B, Banks, t12/20; cum 111K 4/21;

Sunday, June 6, 2021: 44 for the month, 65 for the quarter, 146 for the year:

• 37250, 3,418, MRO, Hoss 41-3TFH, Killdeer, t12/20; cum 144K 4/21;

Saturday, June 5, 2021: 43 for the month, 64 for the quarter, 145 for the year:

• 37377 drl/NC, CLR, Rodney 6-29H1, Cedar Coulee, no production data,
• 36551, 486, Oasis, Thelen 5297 12-6 6T, Banks, t12/20; cum 78K 4/21;

RBN Energy: is biodiesel a viable low carbon fuel pathway or a fading fashion, part 4. 

Biodiesel has long constituted a small but stable portion of the diesel fuel diet in North America, its production being driven primarily by the U.S. Renewable Fuel Standard and Biodiesel Income Tax Credit (BTC). Produced from a variety of feedstocks, including soybean oil, corn oil, animal fats, and used cooking oils, biodiesel offers a low “carbon intensity,” or CI — a big plus in California and other jurisdictions with low carbon fuel regulations. The incentives for producing biodiesel are substantial, but there are two big catches with the fuel: a limited supply of feedstocks and properties limiting how much can be blended with petroleum-based diesel. Today, we continue our series on low carbon fuel standards with a look at biodiesel’s pros, cons, history, and prospects. 

We’ve received even more interest in this blog series than we expected — clearly, folks want to get a handle on the low carbon fuel policies being evaluated and implemented in the U.S. and Canada to meet increasingly stringent greenhouse-gas-related regulations. They also want to better understand the impact these rules could have on refined products markets. In Part 1, we provided an overview of various policies that have been adopted and are being discussed to reduce GHG emissions from on-road transportation fuel use. We also noted some of the more widely-used approaches being taken, including fuel economy standards, renewable blending requirements, zero emission vehicle mandates, and low-carbon fuel standard (LCFS) programs in California and Oregon, the Canadian province of British Columbia, and the proposed Canadian Clean Fuel Standard. LCFS programs are usually established and measured based on the carbon intensity (CI) of fuels used. CI is a measure of the lifecycle GHG emissions associated with producing, distributing, and consuming a fuel, which is measured in grams of carbon dioxide equivalent per megajoule (gCO2e/MJ). (That’s the simple version.) Typically, LCFS policies establish downward-sloping carbon-intensity benchmarks for the jurisdiction’s total on-road transportation fuel pool and incentivize the production and blending of lower-CI fuels to meet the benchmarks.