Four Wells Coming Off Confidential List -- Monday, November 15, 2021

Coal: the new transitional fuel; net-zero goals extended to 2070 -- John Kerry, China, India, COP26.

Wind: UK wind generation is today the lowest in two months, providing less than 1GW. This requires the UK to rely on fossil fuels for more than 60% of its power this morning, resulting in pretty high prices. To say the least. "... pretty high prices." LOL. 

Ten-year Treasury: 1.573%

VIX: 16. At the lower end of the continuum in the past year. VIX values greater than 30 are generally linked to large volatility resulting from increased uncertainty, risk, and investors’ fear. VIX values below 20 generally correspond to stable, stress-free periods in the markets. 

WTI: below $80. Trading at $79.70.

Tesla bonds: link here. This page may load very, very slowly.

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Back to the Bakken

Active rigs:

$79.70	11/15/2021	11/15/2020	11/15/2019	11/15/2018	11/15/2017
Active Rigs	32	16	57	62	55

Monday, November 15, 2021: 21 for the month, 24 for the quarter, 275 for the year:

• 37366, conf, Enerplus, Amphibolite, 147-93-08D-05H, Moccasin Creek, first production, 5/21; t--; cum 71K 9/21;
  

Sunday, November 14, 2021: 20 for the month, 23 for the quarter, 274 for the year:

• 37661, conf, CLR, Harrisburg 2-27HSL, Indian Hill, no production data,
  

Saturday, November 13, 2021: 19 for the month, 22 for the quarter, 273 for the year:

• 37383, conf, Petro-Hunt, Jorgenson 158-94-12D-1-2H, East Tioga, no production data,
  
• 36073, conf, Enerplus, Scoria 147-93-09C-04H-LL, Moccasin Creek, first production, 5/21; t--; cum 110K 9/21;
  

RBN Energy: the shipping industry's new push for net-zero CO2 emissions.

Leading international shipping associations and many of the large shipowners they represent are pressing the International Maritime Organization (IMO) to take a much more aggressive approach to decarbonizing their industry, and calling for a $100/metric ton fee on carbon dioxide emissions from ships to spur investment in no-carbon propulsion systems. 

In effect, shipowners—themselves under pressure from their large, ESG-minded customers, are telling the IMO that its goals of reducing global shipping’s carbon intensity by 40% by 2030 and total greenhouse gas emissions by 50% by 2050 are far too timid. They are insisting that the IMO set the industry on a course to quickly ramp down its carbon dioxide emissions in the 2020s and achieve net-zero CO₂ emissions by mid-century. If the shipowners prevail, it could result in the phase-out of hydrocarbon-based bunker fuel in favor of low-carbon alternatives like ammonia, hydrogen, and electric batteries. In today’s RBN blog, we begin a review of the big changes ahead for global bunker fuel and what they mean for oil and gas producers and refiners.