No Wells Coming Off Confidential List -- July 27, 2021

Covid-19: the delta variant is starting to change. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

Holy mackerel: I don't know if anyone is paying attention but surfing the business pages --- amazing... 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

Apple: the big story today, of course, is Apple. Will report earnings today market close. Also, Microsoft will report.

• expected to post record earning; link to The WSJ;
• high expectations;
• preview: Yahoo!Finance;

T:

• bullish recommendation; SeekingAlpha; nice update;

Oil; is anyone paying attention? WTI might be down a bit this morning, but...

• Louisiana Light: up 2.52%; up $1.78, trading at $72.54
• Bonny Light: up slightly
• OPEC Basket: up 4.43%; up $3.10; trading at $73.03
• and now I see, WTI just went green

From oilprice:

Natural gas: remains the big story of the year. Caught many by surprise. Question: how it will affect earnings for majors?

Coal: Indiana -- ranked third in the nation in total coal consumption in 2020, and coal fueled 53% of Indiana's electricity net generation. Link here.

Gasoline demand:

China/Iraq: more evidence that Iraq and China becoming a "thing." China will build airport, houses under oil-for-projects deal in Iraq (link to Charles Kennedy); majors pulling out of Iraq; and, US to end combat operations in Iraq by end of year. 

China/equities: from ADHD Capital LLC, "something very ominous is going on in China and it has to do with negative real rates in the US and the CCP wanting to make sure that Americans can't print money to buy Chinese assets."

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Back to the Bakken

Active rigs:

$72.15	7/27/2021	07/27/2020	07/27/2019	07/27/2018	07/27/2017
Active Rigs	23	12	59	62	60

No wells coming off confidential list.

RBN Energy: symposium explores how natural gas fits into ERCOT reliability. 

As nobody in Texas will soon forget, in February of this year freezing temperatures across the southern U.S. hammered energy markets and resulted in widespread and long-lasting blackouts across the Energy Reliability Council of Texas (ERCOT) power region. 

Life for many Texans came to a standstill for a week until power could be restored. The resulting economic damages have been estimated in the billions. 

Many people, rightfully, questioned how an energy-rich state like Texas could have been so affected. And then the blame-game started. 

Lacking a forum of qualified experts, productive discussions took a back seat to self-serving rhetoric, special-interest advocacy, and political posturing. But if real solutions were going to be found, it would take more than finger-pointing. It would take a meeting of experts whose primary focus was a resolution, rather than a constituency. Fortunately for Texans, that’s what they got two weeks ago. In today’s blog, we take you through the symposium and its outcome, particularly regarding the role of natural gas.