One Well Coming Off The Confidential List; WTI Maintains -- Tuesday, November 9, 2021

Ten year treasury: 1.436%

GE: to split into three companies. Process will take two years.

SPR: Biden administration telegraphs it will release oil from the SPR.  

CPI: October data released. Pre-market numbers slightly -- very slightly -- better after after the numbers were released. 

Bitcoin: going to hit another record high today. Up about $2,000 / coin; trading at $67,900. 

ARKK: a $120 stock, trading at $123. Trending up.

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Back to the Bakken

Active rigs:

$82.46	11/9/2021	11/09/2020	11/09/2019	11/09/2018	11/09/2017
Active Rigs	32	15	55	66	52

Wells coming off the confidential list:

Tuesday, November 9, 2021: 11 for the month, 14 for the quarter, 265 for the year:

• 37499, conf, CLR, Harrisburg 6-34H, Indian Hill, no data,

RBN Energy: CCS's growing role in the energy industry.

Admittedly, the idea of capturing carbon dioxide, cooling and compressing it into a weird, neither-liquid-nor-gas state, and pumping it deep underground for permanent storage would have baffled the crude oil wildcatters and pipeline builders that created the modern energy industry back in the 1940s and ’50s. They’d surely say, “You’re proposin’ to do what?!” But times have changed. The oil and gas business is entering an extraordinary era of transition, and producers, midstreamers, and refineries alike need to keep abreast of what’s happening regarding carbon capture and sequestration (CCS), how it will affect them, and — ideally — figure out ways to profit from it. That’s the impetus behind today’s RBN blog, in which we begin a deep dive into efforts to reduce emissions of man-made CO₂ by capturing it from industrial sources and piping it to specially designed wells for permanent storage.

Sequestration isn’t just for juries deciding a high-profile case. It’s the permanent storage of CO₂ in the ground — way down in subsurface geologic formations — with the aim of keeping that important greenhouse gas (GHG) permanently out of the atmosphere and slowing the pace of climate change. CO₂ sequestration has become a hot topic in the energy space the past few years, and it would be fair to say that, with ESG issues and the COP26 meeting in Glasgow enjoying such high-profile attention, sequestration is going to be front of mind for producers, midstreamers, and refiners as far out as they go with their planning cycles.