Two Wells Coming Off Confidential List; WTI Trending Toward $70 -- September 20, 2021

LOL. Jim Cramer now says he has been telling folks to sell all last week. I heard a lot of "buy, buy, buy" when folks were calling in. Jim Cramer has his "trader" hat on this morning. He will put his "investor" hat on during his Mad Money later today. To be fair, Jim Cramer was very, very negative all last week, reminding folks that September is historically the worst month, and that we should prepare for two to three weeks of sell-off. He said this week would be particularly tough.

Market: great, great, great buying opportunity. We're off three percent from all-time highs. WTI drops below $72 -- lowest it's been in .... about a week.

China: the real loser?

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

Active rigs*, updated COB:

$70.56	9/20/2021	09/20/2020	09/20/2018	09/20/2017	09/20/2016
Active Rigs	23	11	66	55	32

Wells coming off the confidential list: 

Monday, September 13, 2021: 24 for the month, 35 for the quarter, 215 for the year:

• None.

Sunday, September 12, 2021: 24 for the month, 35 for the quarter, 215 for the year:

• 37887, conf, Crescent Point Energy, CPEUSC Sylven 2-14-23-158N-100W-MBH, Winner,

Saturday, September 11, 2021: 23 for the month, 34 for the quarter, 214 for the year:

• 37886, conf, Crescent Point Energy, CPEUSC Sylven 2-11-2-158N-100W-MBH, Winner, 

RBN Energy: adding structure and credibility to carbon offsets, part 4. 

In the recently fervent efforts of oil and gas companies to mitigate their environmental impact and improve their standing with investors and lenders, they are progressively striving to cut their own emissions of greenhouse gases and to offset the GHG emissions that are unavoidable through the use of carbon credits. Cutting emissions from well sites, pipeline operations, refineries, and the like won’t be easy or cheap, but at the least the results are measurable and provable — before, we emitted X, and now we emit X minus Y. The true value of voluntary carbon credits is more difficult to calculate. Sure, each credit is said to equal one metric ton of carbon dioxide or its equivalent, but how do you really measure with any certainty how many metric tons of CO₂ will be absorbed by 1,000 acres of preserved forest in Oregon, or how much methane won’t be produced by changing the diet of 1,000 cows in Wisconsin? And how can you be sure that slice of Oregon wouldn’t have been left in place anyway, or that the dairy farmer has actually changed what he’s feeding his herd? In today’s RBN blog, we look at voluntary carbon credits, concerns about their validity, and ongoing efforts to ensure that they actually accomplish the goal of GHG reductions.

Only a few years ago, companies in every part of the oil and gas industry were trying to wrap their heads around the Shale Revolution and what it would mean for them. Producers were grappling with how to fine-tune their drilling and completion techniques to wring more crude oil, natural gas, and NGLs out of their rock. Midstreamers were repurposing existing pipelines and building new ones to accommodate mammoth production growth in the Marcellus/Utica, Bakken, and other fast-growing shale plays. Refiners were looking at crude-slate changes and physical alterations to their facilities to make fuller use of the light sweet crude the U.S. was suddenly producing in abundance.