Wednesday, August 25, 2021

One Well Coming Off Confidential List -- August 25, 2021

Dick's: blow-out quarter. Driven by e-tail. Not displaying supply chain shortages. Increasing dividend and doubling share buyback. Shares up 8% on news.

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

Active rigs: accurate daily update at COB on daily activity report.

$67.75
8/25/202108/25/202008/25/201908/25/201808/25/2017
Active Rigs23*10646255

One well coming off confidential list:

Wednesday, August 25, 2021: 14 for the month, 25 for the quarter, 205 for the year:

  • 37918, conf, Slawson, Sniper Federal 4-6-7TFH, Big Bend, no production data;

RBN Energy: coronavirus surge blurs global demand picture for crude oil.  

This summer’s resurgence of the COVID-19 pandemic in many parts of the world will wreck forecasts of demand for petroleum products and, therefore, for crude oil. Most oil-market forecasts published in the first half of 2021 didn’t anticipate the 75% jump in new weekly coronavirus cases that has occurred since mid-June, or new possibilities for travel limits and other restrictions of the type that clobbered economies — and oil demand — around the globe in 2020. Obviously, swerves away from expectations for oil consumption scramble the supply-demand balances widely used in oil-market analysis. But they do happen. 
In fact, deviation between forecast and actual demand is the rule, not the exception. It’s just not always as extreme as the balance adjustments likely to be needed after the latest COVID surprise. Even when there’s no deadly pandemic to worry about, demand can be tricky to define, difficult to measure, and frustrating to predict. In today’s blog, we discuss the intricacies of oil-demand assessment and explain why balance calculations, based on forecasts destined to be wrong, remain meaningful to analysts mindful of their limitations.

No comments:

Post a Comment