No Wells Coming Off The Confidential List; $90 Is The New $50 (WTI) -- October 8, 2021

WTI: the narrative has changed. 

The tea leaves suggest oil is going to go much higher, if $90-WTI is considered "much higher." That seems to be the consensus, that WTI is more likely to trade near $90 than $60 in the near term, the near term being this cycle. More interestingly, "everyone" it seems is saying that $90-WTI is nothing to be concerned about: the market and the average American will be able to handle it just fine. $90-WTI will be okay for Wall Street and Main Street.

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Back to the Bakken

Active rigs, updated daily at COB by the NDIC:

$79.03	10/8/2021	10/08/2020	10/08/2019	10/08/2018	10/08/2017
Active Rigs	27	13	56	64	59

No wells are coming off the confidential list until next week.

RBN Energy: how big a role will hydrogen play in transportation?

When most people think about alternative fuels in the transportation sector, they think electric vehicles (EVs): Teslas, Mustang Mach-E’s, F-150 Lightnings, and other zero-to-60 stunners. EVs have certainly jumped to the fore among low-carbon options, but other possibilities may prove to be even better. One is hydrogen-fueled vehicles, which while posing a number of economic and logistical challenges, could eliminate the range anxiety associated with EVs — assuming that a robust, nationwide network of hydrogen fueling stations can be developed. In today’s RBN blog, we discuss hydrogen’s potential as a transportation fuel, including its infrastructure-related challenges and how it qualifies for credits under California’s Low Carbon Fuel Standard.