WTI Goes Above $70; Two Wells Coming Off Confidential List -- September 13, 2021

Milestone: this is the 38,001th post on this website. First post on this site was in 2009. The original MDW first posted in 2007. 

The early numbers:

• DXY: $92.80, up 22 cents;
• WTI: up about 3/4th of a percent; trading at $70.27; very transitory;
  
• TYT: 1.335%; down ever so slightly;
• Dow futures: up 215 points
• S&P 500: up 25 points
• NASDAQ: up 83 points

Sports: burrito defense didn't work. And this was in The WSJ. Without question, the four-year ban is excessive. Four months, maybe. 

FAANG: "Never anything but screaming bargains." Lu Wang at Bloomberg. Most irritating thing about the article: the writer never credit to the individual who coined the acronym "FANG" which then morphed into "FAANG." And then, for some, "FAANG-T."

Another wrap (and not a burrito, this time): Christo to wrap L'Arc de Triomphe. Again, at The WSJ. 

Congestion: record number of ships anchored off US ports.  

Streaming wars: Viacom announced it will re-vamp Paramount+. That suggests others are doing better. I think Paramount+ staked its streaming on Star Trek. I might have to look that up.

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Back to the Bakken

Active rigs*: updated data will bereported by the NDIC at COB today. 

$70.27	9/13/2021	09/13/2020	09/13/2019	09/13/2018	09/13/2017
Active Rigs	26*	12	64	65	55

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: the latest on Gulf Coast crude export capacity expansions. Archived.

When fully loaded, a Very Large Crude Carrier (VLCC) sits so low in the water that it almost resembles an alligator swimming along the surface of a lagoon. Bearing the weight of 2 MMbbl of crude oil, plus ballast, fuel, crew, and provisions — not to mention the ship itself — two-thirds of an oil-laden VLCC is literally out of sight. You could say the same about the development of crude export terminal projects along the Gulf Coast: not much to see, maybe, especially during the disturbingly enduring COVID-19 era, but a lot is happening under the surface. 

In today’s blog, we discuss the status of onshore and offshore projects aimed at streamlining the shipment of U.S. crude oil to overseas buyers.