No Wells Coming Off Confidential List -- WTI Down -- Bonanza Creek Is Now Civitas -- November 3, 2021

Trifecta! So far, three companies have made dividend announcements today -- and all three have increased their dividends, including a well-known name in the Permian: 

• VNOM: 38 cents; yields 6.77%; record date, 11/10/21; payable, 11/18/2021;

VNOM: as long as we're looking at VNOM, look at its recent dividend history, ex-date, cash:

• 11/09/21: 38 cents but still well below the payouts in 2019
• 8/11/21: 33 cents
• 5/21/21: 25 cents
• 3/3/21: 14 cents
• 11/20/20: 10 cents
• 8/12/20: 3 cents

Zillow: wow, how fast it fell. Interestingly enough Jim Cramer called this when Zillow first announced it was getting into i-flipping. He was completely right on this one. Truly amazing. 

Pre-market equity indices: coming off record highs yesterday, not giving much back today (yet):

• Dow: down about 34 points;
• NASDAQ: up 17 points;
• S&P 500: down three points;
• Russell 2000: up two points;

Ten year Treasury: yield down today, albeit not much; yield at 1.538% -- doesn't make sense in era of high inflation. 

Bonanza Creek-->Civitas: follows back-to-back acquisitions. Link here. 

European energy crisis: four days have passed since gas stopped flowing to Germany through the Yamal pipeline. Link here.

COP: transcript. 3Q21. 

WTI: down today but some see $100-oil.

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Back to the Bakken

Active rigs:

$82.14	11/3/2021	11/03/2020	11/03/2019	11/03/2018	11/03/2017
Active Rigs	33	14	57	66	55

No wells coming off the confidential list:

RBN Energy: Pacific Coast LNG export projects gain traction, part 4. 

After a record-breaking year in which the Japan-Korea Marker topped $30/MMBtu, it looks like 2022 could finally be the year when multiple projects in the long-awaited “second wave” of North American LNG export facilities reach final investment decisions. Developers, financiers, and offtakers are all taking their time, however, to make sure projects make sense in the long term. The recent run of high prices comes after years of price declines and a COVID-related price collapse in 2020, which reduced the spreads between U.S. production and LNG destination markets, slowing the pace of LNG project development. One thing’s clear: Asia — always the focus of LNG demand growth — will become even more important going forward, and perhaps the best way to attract Asian offtakers to U.S., Canadian, and Mexican projects is to export from the Pacific Coast, assuming that feedgas can be sourced and delivered easily. In today’s RBN blog, we conclude our series on Pacific Coast LNG export development, this time focusing on projects in Western Canada.