Two Wells Coming Off The Confidential List -- November 5, 2021

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NOG: announces 3Q21 results. Press release.

• production:
• boepd production doubles qtr/qtr
• oil production up 52% qtr/qtr
• cash flow: 
• up as much as 253% from one year ago
  
• from operations: nearly $100 million
• excluding certain "stuff": $122 million
• free cash flow: $55 million
• announced $154 million Williston Basin acquisition in October; closed on Permian Basin properties on August 2, 2021
• operating costs:
• lease operating costs: $8.15 / boe; down 5%, sequential quarters
• due to increased low-cost Marcellus and Permian production
• G&A: $1.04 / boe
• excluding costs associated with recent acquisition, G&A: 78 cents / boe
• dividend: previously announced -- a 50% increase from prior quarter
  

WTI: clawing back to $79.66.

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Back to the Bakken

NOG: announces 3Q21 results. Press release. 

Active rigs:

$79.66	11/5/2021	11/05/2020	11/05/2019	11/05/2018	11/05/2017
Active Rigs	32	13	55	65	55

Two wells coming off the confidential list: 

Friday, November 5, 2021: 6 for the month, 9 for the quarter, 260 for the year:

• 37365, conf,  Whiting, Sorenson 21-6-3H,
• 36773, conf, Hess, CA-Russell Smith-155-96-2425H-8,

RBN Energy: navigating crude oil, natural gas, and NGLs through energy transition.

For all who thought an energy transition was going to be orderly, economic, or rational, the chaos of 2021 energy markets is a wake-up call. It’s not that the shift from fossil fuels to renewables is causing most of the market turmoil, but it is certainly magnifying the effects of a host of energy market glitches that, together with the mechanics of the transition, are wreaking havoc on the global economy. Which underscores the challenge of this generation: We must live, work, and produce hydrocarbons the way the world functions today, while at the same time preparing for — and investing in — a much-lower-carbon future. As we’ve heard this week from Glasgow, it’s a future that a lot of folks believe means net-zero greenhouse gas emissions and no hydrocarbons. 

That challenge is the underlying theme for RBN’s Fall 2021 School of Energy, to be held next week, November 9-10. Not only have we restructured our agenda to include a half day covering the impact of hydrogen, CO₂ sequestration, and renewable diesel, we’ve reworked and updated our core hydrocarbons market curriculum to examine how crude oil, natural gas, and NGL markets will evolve to accommodate what lies ahead. In today’s encore RBN blog edition — a blatant advertorial — we’ll consider these issues and highlight how our upcoming School of Energy integrates existing market dynamics with prospects for the energy transition.