Three Wells Coming Off The Confidential List; Bruin Reportes Another Huge FB Belford Well; Shale Operators Cash Flow Update -- RBN Energy -- December 20, 2021

Over the weekend, Art Berman noted that US shale operators were "swimming in cash." RBN Energy discusses that below.

Now, Art Berman has tweeted again: world total liquids production has recovered to the December, 2014, level but remains about 6 million bopd (about 6%) less than the November, 2018, peak.

Art must have been on a roll, also tweeting at the time: "shale companies spent $6 billion in capital expenditure in the last quarter ... cash from operations, meanwhile, sits at around $13 billion, approaching record levels."

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

Active rigs: estimate only; NDIC provides update at close of business each day.

	12/20/2021	12/20/2020	12/20/2019	12/20/2018	12/20/2017
Active Rigs	31	15	54	69	51

Monday, December 20, 2021: 75 for the month, 104 for the quarter, 330 for the year:

• None.

Sunday, December 19, 2021: 75 for the month, 104 for the quarter, 330 for the year:

• 38185, conf, CLR, Tallahassee FIU 7-21H, Baker, 33-035-0659,  no production data,
• 37189, conf, Whiting, Feehan 11-9HU, Sanish, 33-061-04634, first production, 9/21; t--; cum 64K 10/21;

Saturday, December 18, 2021: 73 for the month, 102 for the quarter, 328 for the year:

• 36302, conf, Bruin, FB Belford 148-95-22D-15-14B-LL, Eagle Nest, 33-025-03775, first production, 6/21; t--; cum 123K 10/21;

RBN Energy: E&Ps bas in the warmth of strong third-quarter profits, cash flow. Archived.

It may seem like a strange turn of phrase, but the best way to describe the E&P sector’s recent round of quarterly earnings calls is a celebration of remarkable climate change. Buffeted and nearly swamped over the past few years by price volatility, investor revolt, regulatory restrictions, and a global pandemic, oil and gas producers finally have the opportunity to bask amid robust returns in an increasingly sunny economic environment. 

E&Ps are enjoying higher profits and massive free cash flow, raising their dividends, and looking forward to 2022 with renewed optimism. In today’s RBN blog, we outline the dramatic recovery of E&Ps since mid-2020, examine the surge in third-quarter results, and look ahead to the next round of earnings calls this winter.