Tonight, electricity is spiking in ISO NE and is in the sixth decile, And they're burning oil, accounting for 3% of consumption.
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Meanwhile, Overseas
China is letting LNG tankers be diverted to Europe; China, instead, is replacing that LNG with coal.
Greta Thunberg unavailable for comment.
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Joan Didion, Dead At 87
Endemic: I wonder if eighth graders understand the difference between "pandemic" and "endemic"? That's important because:
a) average literacy in the US: at the eighth grade level; and,
b) after two years of "this," we're finally moving into "endemic" status; in other words;i) it's never going to go away: Fauci
ii) it's a "cold": Brandon
XOM: can break even -- dividends -- at $35-oil; oil trading at $73.
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The Art Page
Sophia and her grandfather in the local art studio.
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Back to the Bakken
Active rigs:
| $73.76 | 12/23/2021 | 12/23/2020 | 12/23/2019 | 12/23/2018 | 12/23/2017 |
|---|---|---|---|---|---|
| Active Rigs | 31 | 14 | 56 | 69 | 53 |
One new permit, #38724:
Six permits renewed:
Three producing wells (DUCs) reported as completed:
Stalingrad, 1942?
Waterloo, 1815?
Nope, apparently, December, 2021. Russian troops "walking" to Ukraine. A 21st century army "walking" hundreds of miles in dead of winter? Speaks volumes. Link here. Is it a fake video? I don't know. Needs to be fact-checked. But I think its old footage.
Usual disclaimer applies: I do this quickly for my benefit. I do not expect readers to read this summary. There will be content and typographic errors. I used shorthand that may be confusing. For all I know the links may not even be correct. I haven't checked them in quite awhile. In a long note like this there will be content and typographical errors. If this is important to you, go to the source.
Comment: look at all the SWD cases.
Wednesday, January 1, 2022
Seven Pages
Cases, not permits:
Thursday, January 20, 2021
Six Pages
Cases, not permits:
WTI: near the close -- $73.73. Closed at $73.76.
S&P 500: trading above its all-time high. Closed at a new all-time high.
Every S&P 500 sector: on track for double-digit gains this year. Link here.
Dow: within 15 points of going over 36,000 (again) -- trading at 35,985. Closed at 35,951.
First group "financial / economic" indicators:
Equities:
Best of class -- BofA, link here:
Also here, one in each S&P 500 sector:
TSA: boardings in 24 hours exceeds that of 2019, pre-pandemic. Source. Seven day average remains almost 10% below that of 2019.
One person's interpretation:
Feel like it’s a construct of recent risk off moves in growth and high beta. Demand rising for stable businesses with strong cash flow and dividends in the face of tightening monetary policy and general uncertainty. Almost like a flight to fixed income except you can’t own bonds. High beta definition here.
EU crisis: Kosovo starts cutting electricity to most of its two million citizens. Bloomberg.
EU crisis: US saving Europe again. Flotilla of US LNG tankers streaming to Europe. Link here.
Omicron: top five symptoms -- it's a "cold." Link here.
US crude oil supply; drops to less than 27 days supply; not seen since pre-Covid, 2019. Link here.
Permian: to beak daily oil production records in January, 2022. Link here.
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Back to the Bakken
Active rigs: estimate based on NDIC reports --
| $73,00 | 12/23/2021 | 12/23/2020 | 12/23/2019 | 12/23/2018 | 12/23/2017 |
|---|---|---|---|---|---|
| Active Rigs | 32 | 14 | 56 | 69 | 53 |
Friday, December 24, 2021: 81 for the month, 110 for the quarter, 336 for the year:
38279, conf, Rimrock, FBIR Johnson 13X-7H,
RBN Energy: New England power sector shift from gas to renewables and storage. Archived.
For the next few years, New Englanders will remain heavily dependent on natural-gas-fired generation — and keep their fingers crossed regarding the availability of piped-in gas for power during periods of frigid winter weather.
But the power sector in the enviro-conscious six-state region has ambitious plans to gradually ratchet down its reliance on gas and other fossil fuels and increase the role of wind, solar, and battery storage.
Over time, that could help to alleviate the gas-supply risk associated with New England’s seasonally insufficient gas pipeline capacity. However, front-and-center roles for highly variable renewable energy sources could pose reliability challenges of their own. In today’s RBN blog, we discuss the evolution of the region’s electric grid and what it may mean for natural gas producers and midstreamers.
