No Wells Coming Off The Confidential List -- September 1, 2021

Ivermectin: after my post yesterday on Ivermectin, a reader said he/she said she forwarded it "everywhere." LOL. Today, we learn that Ohio judge has ruled that hospitals in that state will require Covid-19 patients in ICUs to be treated with Ivermectin if the patients request such treatment.

Russia: we started posting this several months ago on the blog, now it's becoming a "thing" over on twitter energy feeds. Russia is now the second biggest importer of oil to the US.

Russia: limiting amount of natural gas it will send Germany via Nordstream 2. Who wudda thought?

Cost of energy: out of control in Europe. Again, we've been reporting this for months. And, again, like the Russian oil story, the cost of energy has become a "thing" over on twitter energy feeds. Cost of electricity in Europe is now out of control.

Cost of energy: several US states are seeing huge increases in price for electricity. Readers might be surprised when they see the list. Pending.

Bottleneck: another story we've reported many times over the years -- the backlog of cargo ships sitting off the coast of California has his another all-time high, and apparently the forecast is: this is just the beginning. See this link over at ZeroHedge.

Market: right now, there are four major US equity indices -- Dow, S&P 500, NASDAQ, Russell 2000. Prediction: ten years from now, a fifth index will be added: CW-40.

Afghanistan: yesterday we predicted that this story would disappear a week from now. Today, a reader told me that "Afghanistan" was the fifth story on NBC headline news this morning, preceded by a) military helicopter crash off coast of US; b) Hurricane Ida/Louisiana; c) rain in NYC; d) California fires; and, then, e) Kabul. This is happening faster than the US intel community predicted. LOL. When  the Kabul / Afghanistan story, the day after the August 31, 2021, deadline, comes in "after" the NYC rain story, one knows Resident Biden can sleep more easily knowing this has already become a non-story.

Step-up death tax: update pending. 

Market: September is the worst month for investors. How bad is September. On average, the "market" falls one percent during the month of September. Source? CNBC. 

Gasoline in Louisiana:

• eight of nineteen Louisiana refineries remain closed;
• 30 to 40 percent of gasoline service stations closed;
• wait time for gasoline up to two hours

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Back to the Bakken
Whiting: I have trouble believing Whiting has taken "all" its wells off line. NDIC has an IT problem and it's very possible the Whiting data has not yet been populated. I honestly don't know. But every Whiting well I looked at yesterday, and there were lots of them, show no oil production in 7/21. However, those wells all showed natural gas production and natural gas sales, so I have no idea what's going on with Whiting.

Active rigs": current data is reported at COB.

$68.74	9/1/2021	09/01/2020	09/01/2019	09/01/2018	09/01/2017
Active Rigs	24*	10	64	63	56

No new permits.

RBN Energy: Plains All American targets long-term growth from key shale infrastructure. 

The seven years since the heady days of $100/bbl oil in mid-2014 have been a tumultuous time for midstream companies tasked with funding a massive infrastructure build-out to support surging crude oil and natural gas production. 

Midstreamers have been buffeted by volatile commodity prices, waves of E&P bankruptcies, rapidly shifting investor sentiment, and, finally, a global pandemic. Perhaps no company has had a more challenging road than master limited partnership (MLP) Plains All American, which had to cut unitholder distributions three times over a turbulent five years as it built out a crude gathering and long-haul transportation portfolio focused on the Permian Basin. 

With its capital program winding down, commodity prices rising, and a new joint venture in the works, can Plains performance rebound and win back investor support? In today’s blog, we discuss highlights from our new Spotlight report on Plains, which lays out how the company arrived at this juncture and how well-positioned it is to benefit from the significant recovery in commodity prices and Permian E&P activity.