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Friday, November 5, 2021

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

Note: in a long note like this, there will be typographical and content errors. Some links may be wrong or broken; if you find a link that is wrong, let me know.

Note: this is not an investment site. Notes that could be construed as related to investing are simply there to follow the money which helps me understand the energy sector. 

Note: facts and opinions are interspersed; it's hard to tell the different. If any of this is important to you, go to the source.

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.

**********************
Back to the Bakken

NOG: announces 3Q21 results. Press release

Active rigs:

$79.66
11/5/202111/05/202011/05/201911/05/201811/05/2017
Active Rigs3213556555

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.

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