Monday, November 22, 2021

Seven Wells Coming Off Confidential List; RBN Energy On Oasis; Oasis Surging -- November 22, 2021

RBN Energy: focus on Oasis today! See below.

Hess: more and more, a pure-play Bakken play. TotalEnergies, COP to buy Hess out of Libya -- Argus -- link here.

Active rigs:

Active Rigs3113576254

Monday, November 22, 2021: 32 for the month, 35 for the quarter, 286 for the year:

  • 36231, conf, Enerplus, Argillite 147-93-08D-95H, Moccasin Creek, first production, 5/21; t--; cum --;

Sunday, November 21, 2021: 31 for the month, 34 for the quarter, 285 for the year:

  • 37658, conf, CLR, Harrisburg 5-27H, Indian Hill, no production data,

Saturday, November 20, 2021: 30 for the month, 33 for the quarter, 284 for the year:

  • 38082, conf, Ovintiv, Rolla 152-97-1-12-5HLW, Westberg, no production data,
  • 36229, conf, Enerplus, Slate 147-93-08D-05H-TF, Moccasin Creek, first production, 5/21; t--; cum --;
  • 35484, conf, Oasis, Nikolia Federal 5397 42-33 4B, Banks, first production, 5/21; t--; cum --:
Friday, November 19, 2021: 27 for the month, 30 for the quarter, 281 for the year:
  • 37659, conf, CLR, Harrisburg 4-27H, Indian Hill, no production data,
  • 36895, conf, Whiting, Satterthwaite 14-7HU, Sanish, first production, 5/21; t--; cum --;

RBN Energy: a new day for Oasis Petroleum as it delevers, focuses on free cash flow.  Yes, of course, it is archived.

With the market dislocations brought on in 2020-21, many if not most E&Ps have been reexamining their strategies and making changes. A common result has been a deemphasis on capex and expansion and a renewed focus on increasing free cash flow — and with that excess cash reducing or eliminating debt and rewarding shareholders through dividends and stock buybacks. A prime example of a producer taking this approach is Oasis Petroleum, a Bakken-focused E&P that a year ago this week emerged from COVID-induced bankruptcy filing and has since taken a number of additional steps to position itself as a reliable money-maker, even if crude oil prices were to slide to significantly lower levels. In today’s RBN blog, we discuss the ongoing trend among producers to rethink and rework their strategies as energy markets recover.

Oasis: up $3.03 / share; up 2.42%; trading at $128. Phenomenal. A year ago traded at $32 / share.

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