Twenty years from now they're gonna say, "we underestimated the Bakken."
Link here.
I find this incredibly interesting. If "push comes to shove" it will be interesting to see how quickly US shale can ramp up; and load tankers to Europe. My hunch: very, very quickly. All those LNG export terminals are looking pretty good right now.
Link here. Beautiful scenery. At least this border is secure.
This is what is looks like five miles south of the crossing: empty.
"Pat, I'm ready to solve the puzzle."
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On Another Note
Can anyone see a situation in which Europe desperately needs oil and liquid natural gas, and all stops are pulled out by the US, the White House, drillers, and shippers to get as much oil and natural gas to Europe as possible, as fast as possible.
I'm convinced a case can be made for that. Ninety-five percent chance it won't happen, but a five percent chance it will?
Very, very few people are still alive who were actually alive during WWII. Those folks can tell us how fast things can change. Remember, that global war lasted four years, and it broke out very, very suddenly, peaking within months before it moved into steady state wartime situation.
There's a reason the White House just "named" Qatar a non-NATO ally of the US. Sources:
The United States is planning to designate Qatar as a major non-NATO ally, President Joe Biden has told Qatari Emir Sheikh Tamim bin Hamad Al Thani, a move that would formally upgrade the partnership between Doha and Washington.
A reader reminded me the "914s" have been released.
This is from my "links" page:
ISO NE: dinner time; link here.
The Concord Monitor: regularly reports on high cost of electricity / energy in New England; for example this article;
WTI: even at it's already high price, WTI surged 1.75%; up $1.50; trading solidly above $88.
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Back to the Bakken
Active rigs:
| $88.34 | 1/31/2022 | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 |
|---|---|---|---|---|---|
| Active Rigs | 32 | 13 | 54 | 65 | 59 |
Two new permits, #38765 - #38766, inclusive:
Active rigs: 33 but one is a SWD rig; did not check closely to see if any rigs listed twice;
Breaking: WTI now well over $88.00
Now, back to regular programming.
More federal money for North Dakota: North Dakota will receive up to $40 million to clean up abandoned oil and gas wells. Whoo-hoo! It appears only seven states will receive more than North Dakota, but not only is ND in the top seven or eight, it is also at the high end of federal money being disbursed. Link when I get it. Arrived in my e-mail from Department of Interior.
From the department:
The Department of the Interior today announced $1.15 billion in funding is available to states from the Bipartisan Infrastructure Law to create jobs cleaning up orphaned oil and gas wells across the country. This is a key initiative of President Biden’s Bipartisan Infrastructure Law, which allocated a total of $4.7 billion to create a new federal program to address orphan wells. Millions of Americans across the country live within a mile of an orphaned oil and gas well.
Orphaned wells are polluting backyards, recreation areas, and public spaces across the country. The historic investments to clean up these hazardous sites will create good-paying, union jobs, catalyze economic growth and revitalization, and reduce dangerous methane leaks.
“President Biden’s Bipartisan Infrastructure Law is enabling us to confront the legacy pollution and long-standing environmental injustices that for too long have plagued underrepresented communities,” said Secretary Deb Haaland. “We must act with urgency to address the more than one hundred thousand documented orphaned wells across the country and leave no community behind. This is good for our climate, for the health our communities, and for American workers.”
Plugging orphaned wells will also help advance the goals of the U.S. Methane Emissions Reduction Action Plan, as well as the Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization, which focuses on spurring economic revitalization in the hard-hit energy communities.
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Winter Storm Slams Texas
I keep reading all those news stories that a winter storm slammed Texas.
Well, here's the video.
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The Market -- For The Archives
Wow, talk about an afternoon surge. After a slow start this morning, the market is now taking off. I guess mom-and-pop investors are not worried about the Fed raising the rate from 0.00000% to 0.25% or whatever they think it will be.
My favorite chart:
XLNX: wow. I've accumulated XLNX for decades. Today, I just happened to see it jumped $13, up over 7%, now trading about $191. This is still not a 52-week high. I wonder how much of this is due to a short squeeze. I think a lot of folks got burned on this one assuming the merger would not take place, after the Chinese delayed it. AMD is up almost $8.
Oil: "all" oil stocks are up.
Commodities are up: SCCO, FCX
AAPL: after soaring last week, up $12/share (?), AAPL is up another $3 / share today after a slow start.
PLUG: is up $2.76 on a $21 stock. Whoo-hoo!
It's hard to find anything that's trading down. If so, pretty much profit taking after recent jump in price. Even EPD is up a bit. LOL. What's ENB doing? Up nicely. EPD reports tomorrow, February 1, 2022, before market open; forecast, 54 cents EPS; "whisper number" is 57 cents.
Holy mackerel, NVDA is up $13.
SBUX: I've never invested in SBUX and the company if facing a lot of headwinds but I need to diversity out of energy, and I'm seriously thinking of looking at SBUX. I'll wait to see what Jim Cramer has to say this evening. SBUX reports earnings at 5:00 a.m. ET tomorrow morning (February 1, 2022); forecast, 79 cents EPS. The "whisper number" is 82 cents.
ARKK: must be having an incredible day ... let's check ... yup, up 8%.
S&P 500: up 83 points. Remember, under the 10:1 rule, this would equate to an 800 point jump in the Dow today; just saying.
Dow: regardless, the Dow was up a remarkable 400 points. Go back and look at my favorite chart.
I'm posting this for the archives for the grandsons and their mother who will end up managing the portfolio after I die. At 75 years of age, I turn the portfolio over to our younger daughter. The twins will be in first or second grade by then, home schooled, majoring in the "3-R's" with a minor in business and investing.
Prediction: the S&P 500 will hit 4,500 before it hits 4,600.
Note: the above companies fascinate me. I own shares in some but not all. I've been in and out of some of them over the years.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
Fast Money:
Mad Money:
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Jason Day And The Early Morning Club
I’m writing this column at 4 a.m., but I need to level with you: It’s nowhere near as romantic as that sounds. I am not sitting in a hotel lobby, tuxedo bow tie unfurled, cigar smoldering in an ashtray, pecking at an old Underwood typewriter after a long night out with movie stars, rock gods and other assorted fabulous people.
The truth is I fell asleep last night right after reading to my kids. I passed out shortly before 9 p.m. with a copy of “Friendship According to Humphrey,” about a class pet hamster trying to adapt to a new frog in the room, resting atop my chest. (It’s a fun read. Humphrey is adorbs.)
I’m awake because over the past two years, I’ve joined a new club: the very, very early morning club. I know a lot of people have lives and jobs that require them to wake up extremely early, but this is a new lifestyle for me. It took two small children and one pandemic that kept us all home to figure out that if I was going to continue to be productive, and write nonsense humor columns like this one, I was going to need to be productive at an uncommon hour, sitting alone in the dark.
I'll expand on this later.
******************************
Book Recommendation
Again, if interested in origin of solar system, earth, fossil fuel, origin of life, this is currently the best new book on the market right now for armchair/amateur biologists, geologists, fossil fuel aficionados.
From the book, pages 145 - 147:
The Permian: why did so much oil accumulate in such a small region of the continent?
To be continued in a future blog.
Breaking: 4.6 earthquake in north central Oklahoma, near the Kansas state line. Not near any of the oil fields as far as I can tell. This will be sorted out later
Now, back to regular programming.
ISO NE: now I know they're reading the blog. LOL. I was posting these graphics more than two years ago. Link here.
By the way, that's an old chart (January 24, 2022) -- NE ISO has burned coal in the past several days suggesting the utilities have run out of coal.
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And, Then There's Always California Hypocrisy
At the link, release date (most recent data): November 4, 2021; next release date, December, 2022. The numbers will change dramatically after the next release. It is noteworthy that Texas is among the top five lowest-cost states despite that "Texas freeze" in 2021.
********************************
Shell Discovery Off Namibia
A bit of hyperbole? This is the headline:
Shell makes oil and gas discovery off Namibia's coast.
The story: Oil supermajor, Shell, has made a huge oil and gas discovery at a closely watched offshore well in the southern African nation of Namibia ...
So, how big was this discovery? Between 250 and 300 million bbls of oil and natural gas equivalent.
"A huge discovery..."
As the reader who sent me this story, if this is a "huge" discovery, how would Zacks describe the Bakken. The reader noted that NOG -- a non-operator that got its start in North Dakota -- has that much oil in the Bakken.
In fact, according to Zacks, this discovery is so "huge," "it is unclear if the discoveries are substantial enough for [Shell] to go ahead with the development of the country's first deepwater field."
The good news: if Namibia grants Shell the permits to drill, it's unlikely a Namibian judge will come back later and vacate the permit. Although, having said that, nationalization is always on the table.
********************************
Driving Faux Environmentalists Nuts
There are stories now being reported that faux environmentalists are furious that oil companies and oil service companies are cashing in on carbon capture and sequestration. LOL.
This will make their heads explode: Schlumberger Tech got the contract for Northern Lights.
Northern Lights:
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California Fossil Fuel Utilities, 1 -- Solar, 0
It would be interesting to know more of the backstory on this one.
One wonders what brought all this on? California's economy is booming; the state has a record surplus in its coffers.
This makes no sense at all considering California's commitment to carbon emissions.
My hunch: they looked at the outyears, 2030 and beyond, and did the math. Wanted to nip a disaster in the bud, as they say.
California is already among the top five most expensive states for electricity. Rooftop solar will make it even worse. California knows this will drive high-energy commercial users out of the state:
It's also possible 90% of Californians who will not "buy into" rooftop solar have started a letter-writing campaign complaining that their solar neighbors are getting a free ride.
First things first, truckers in Saskatchewan headed towards Ottawa. Link here.
Now, back to regular programming.
Shell:
First it changes its focus, then it changes its name, now it completes simplification with single line assimilation. Link here at Rigzone.
The company formerly knowns as Royal Dutch Shell plc is now, simply, Shell.
As of early this morning, still two trading symbols, RDS-A and RDS-B but both appear to be trading at same price. It will probably take awhile for company to make the administrative changes for a new single ticker symbol. One would assume they would drop the "RD" from the RDS ticker.
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To Infinity And Kiri
OPEC Basket Price
**************************
Penzeys
On April 20, 2021, I mentioned that "Penzeys BBQ 3000 is my go-to rub for Cornish hen."
Now this, "the spice company -- Penzeys -- that called Republicans racist begging for gift card purchases after losing customers."
Link here; https://www.foxbusiness.com/politics/spice-company-that-called-republicans-racist-begs-for-gift-card-purchases-after-losing-customers.
I assume greater than 50% of their market self-identifies as Republican.
No further comment.
****************************
Amazon Prime
Subscribers need to brace for a $20-increase in annual subscription cost.
Our younger daughter recently sent us a very light, small package from Portland, OR, using USPS. That very light, small package cost $17.91 to ship.
I don't think a $20-increase for an Amazon Prime subscription will break the bank.
In addition, I"m watching a lot more Amazon Prime Video these days. I watch no Apple original programming.
NOG: update. Announces closing of Permian Basin acquisition from Veritas Energy.
Disclaimer: I often make simple arithmetic errors. If this is important to you, go to the source.
********************************
Meanwhile, Earthstone Energy With Midland Basin Acquisition
One may want to read the history of Earthstone Energy, et al, at this post. Somehow it reaches back to Aubrey McClendon.
Link here. Will acquire the assets of privately held Bighorn Permian Resources located in the Midland Basin
NOG: update. Announces closing of Permian Basin acquisition from Veritas Energy.
Shooting oil in a barrel: Doomberg.
********************************
Back to the Bakken
Active rigs:
| $87.07 | 1/31/2022 | 01/31/2021 | 01/31/2020 | 01/31/2019 | 01/31/2018 |
|---|---|---|---|---|---|
| Active Rigs | 31 | 13 | 54 | 65 | 59 |
Monday, January 31, 2022: 55 for the month, 55 for the quarter, 55 for the year
Sunday, January 30, 2022: 53 for the month, 53 for the quarter, 53 for the year
RBN Energy: after MVP setback, is the Appalachia gas forward curve wrong?
There was no shortage of drama in the U.S. natural gas market last week. The February Henry Hub CME/NYMEX contract expired in a blaze of glory after frenzied short-covering led to the largest single-day percentage gain since Henry futures began trading in the 1990s. The Northeast was bracing for a weekend “bomb cyclone,” a particularly gnarly nor’easter that brought frigid temperatures and threatened to disrupt the market just as heating demand spiked. But there was another, more subtle but still seismic event that occurred, one that is likely to reverberate well beyond the near-term horizon. Namely, the Equitrans Midstream-led, 2-Bcf/d Mountain Valley Pipeline — the only major expansion project left for increasing egress out of the Appalachian gas supply basin — lost two key federal permits, all but ensuring that the long-delayed project will miss its latest target in-service date of this summer, and potentially be held back another year, or more. In our Top 10 Prognostications for 2022 blog, #7 predicted more severe capacity constraints and weaker basis differentials for Appalachian gas producers. This is the latest indication that things could get worse — and sooner — than previously expected. In today’s RBN blog, we focus on our latest outlook for Appalachia’s gas takeaway constraints and basis pricing.
For those holding onto a glimmer of hope that the long-delayed Mountain Valley Pipeline (MVP) — a big and important greenfield Appalachia natural gas takeaway project — would finally come to fruition this year, it’s safe to say those dreams were shattered last week. On January 25, the U.S. Court of Appeals for the Fourth Circuit vacated federal permits from the U.S. Forest Service and Bureau of Land Management that were needed to complete a 3.5-mile stretch of the mainline through the Jefferson National Forest along the West Virginia-Virginia border. The ruling said the permit approvals were premature — issued before the Federal Energy Regulatory Commission’s (FERC) environmental assessment — and failed to comply with the Forest Service’s 2012 Planning rule. The decision effectively sends the project back into the review process for the second time since construction began in 2018.
For investors, the actual price is less important than the direction/trend.
“Focus on Fracking”: this week’s edition has posted. The lede:
Oil prices hit a 7-year high, natural gas hits a 14-year high on largest one day price jump on record; natural gas supplies see largest draw this winter; gasoline inventories up most in any 4 week period since Jan 1990 as gasoline demand, excluding worst Covid drops, is at a 10 year low; gasoline imports at an 87-week low; total inventories of oil and all products made from it are at a 7-1/2-year low with Strategic Petroleum Reserve at a new 19 year low.
On another note: when it comes to the big games, the announcers are top-notch. CBS has Tony Romo who is arguably the best in the business, perhaps taking over the mantel of John Madden, but in a different way.
Alongside Tony Romo is Jim Nantz. Joe Buck on Fox is outstanding, as is Troy Aiken, but Tony Romo has more genuine enthusiasm than Aiken. On NBC, Al Michaels and Chris Collinsworth were the best for so many years, but they are getting a bit long in the tooth as they say.
WTI: nice move up, Sunday night. Up about 1%.
Texas weather, one word: beautiful. A high of 70° this afternoon. Will be cold mid-week but nice until then. Daughter went paddle boarding on Lake Grapevine today; she said lots of activity on the lake today.
Covid-19:
Watching NFL all afternoon despite the incredibly beautify biking weather: sorry. Not sorry.
Canada: truckers across Saskatchewan headed to Ottawa; they will need to stop by "Corner Gas" to re-fuel. LOL. Link here. "Corner Gas?" Here.
A reader sent me a note, suggesting I post this in case some mom-and-pop mineral owners missed it.
The reader noted that his/her most recent statement from HESS was less than usual.
It turns out that Enerplus acquired Hess wells in Little Knife oil field, Dunn County (and maybe elsewhere) this past summer. Those wells are now "dropped" from Hess and will end up on Enerplus statements, if I have this correct.
As of November, 2021, these wells, according to the reader, were still showing up on their Hess statement, suggesting the transfer was not completed until recently.
It's also possible, there could be a delay in Enerplus getting royalties out to mineral owners with regard to these wells during the transition.
Again, I have not confirmed this and I won't. This is just something the reader thought might be useful for mom-and-pop mineral owners who have Hess wells in Dunn County.
Along that same line, Enerplus also required Bruin assets last summer. I have no idea where that stands.
Again, this is coming from a reader.
If this is important to you do NOT rely on my blog. Go to the source. In this case: Hess, Enerplus, Bruin, and the NDIC scout tickets (which may or may not be current).
I find this absolutely fascinating.
Boston coming off a weekend winter storm.
Sunday, the airports are open.
It's dinner time in Boston and electricity demand is probably peaking for the day.
Demand and price (8th decile):
Note: the fuel mix, absolutely fascinating.
Years ago, a reader wrote to tell me that North Dakotans received more federal dollars "back" than they ever paid into federal taxes. Probably.
And it continues.
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Meanwhile In Canada
"We can't take it any more." Link here. The video is amazing.
The wells:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 14754 | 18450 |
| 10-2021 | 6416 | 8975 |
| 9-2021 | 24414 | 35412 |
| 8-2021 | 31169 | 62746 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 6896 | 4189 |
| 10-2021 | 3548 | 2217 |
| 9-2021 | 2516 | 1429 |
| 8-2021 | 1749 | 713 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 13246 | 6427 |
| 10-2021 | 12762 | 737 |
| 9-2021 | 11486 | 0 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 14027 | 8496 |
| 10-2021 | 32208 | 20107 |
| 9-2021 | 30964 | 17583 |
| 8-2021 | 23489 | 957 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 8306 | 1932 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 9288 | 2041 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 11-2021 | 14300 | 15615 |
| 10-2021 | 23719 | 30929 |
| 9-2021 | 28089 | 49677 |
| 8-2021 | 37900 | 41124 |
Monday, February 7, 2022: 22 for the month, 77 for the quarter, 77 for the year
36618, conf, Petroshale, Anderson South 2TFH,
Sunday, February 6, 2022: 21 for the month, 76 for the quarter, 76 for the year
38444, conf, Eagle Operating, Ober 20-5,
38421, conf, Crescent Point Energy, CPEUSC Reed 3-10-03-158N-
38420, conf, Crescent Point Energy, CPEUSC Reed 2-10-03-158N-100W-MBH,
37331, conf, Hess, EN-Rice-A-155=94-0310H-5,
36619, conf, Petroshale, Anderson South 3MBH,
35130, conf, Enerplus, Blackwidow 149-92-32D-29H,
Saturday, February 5, 2022: 15 for the month, 70 for the quarter, 70 for the year
38422, conf, Crescent Point Energy, CPEUSC Reed 4-10-03-158N-100W-MBH,
37448, conf, Koda Resources Operating, Porter 2614-2BH,
Friday, February 4, 2022: 13 for the month, 68 for the quarter, 68 for the year
38423, conf, Crescent Point Energy, CPEUSC Reed 5-10-03-158N-100W-MBH,
35131, conf, Enerplus, Huntsman 149-92-32D-29H-TF1,
Thursday, February 3, 2022: 11 for the month, 66 for the quarter, 66 for the year
38424, conf, Crescent Point Energy, CPEUSC Reed 6-10-03-158N-100W-MBH-LL,
38386, conf, Hunt, Blue Ridge 159-100-6-7H3,
37980, conf, CLR, Clear Creek Federal 2-26HSL2,
37913, conf, CLR, Charolais South Federal 15-10H,
Wednesday, February 2, 2022: 7 for the month, 62 for the quarter, 62 for the year
38385, conf, Hunt, Blue Ridge 159-100-6-7H2,
37981, conf, CLR, Clear Creek Federal 3-26H,
37912, conf, CLR, Charolais South Federal 14-10H2,
37332, conf, Hess, EN-Rice-A-155-94-0310H-2,
Tuesday, February 1, 2022: 3 for the month, 58 for the quarter, 58 for the year
37982, conf, CLR, Clark Creek Federal 4-26H1,
37911, conf, CLR, Charolais South Federal 13-19H,
37910, conf, CLR, Charolais South Federal 12-10H,
Monday, January 31, 2022: 55 for the month, 55 for the quarter, 55 for the year
37983, conf, CLR, Clear Creek Federal 9-26H,
37909, conf, CLR, Charolais South Federal 11-10H2,
Sunday, January 30, 2022: 53 for the month, 53 for the quarter, 53 for the year
37986, conf, CLR, Clear Creek Federal 8-26H1,
37908, conf, CLR, Charolais South Federal 10-10H,
***************************************
Groundhog Day In New England -- Since 2017
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Groundhog Day In The Mideast
Link to Tsvetana Paraskova. Headline says it all; details unimportant to me. Guess things happen that way.
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Book Recommendation
Again, if interested in origin of solar system, earth, fossil fuel, origin of life, this is currently the best new book on the market right now for armchair/amateur biologists, geologists, fossil fuel aficionados.
From the book, pages 131 - 133:
Eons, eras, and periods.
That's it. Three geologic "divisions": eons, eras, and periods.
With two exceptions, two "sub-periods":
Let's take a look at coal:
How did this come about:
Introduction of the term cyclothem.
Many cyclothems have been named:
So, if coal "came from" plant material, why is the distribution of coal so limited worldwide?
Mississippian subperiod:
And, thus the reason why US is king of coal when it comes to coal reserves.
Flight radar here: https://www.flightradar24.com/36.22,-75.43/6. At the time I am updating this, aircraft are starting to fly into East Coast and New England airports. Not sure about Boston.
Later, 9:45 p.m. CT: telephone call from friend in Boston. The storm is over; it was hardly a storm. A dusting is about all there was for Boston.
Power outage risks, Saturday, January 29, 2022, 7:42 p.m. CT -- right up the eastern seaboard, New England:
Right now, Saturday afternoon, 5:52 p.m. ET:
Earlier today:
Additional commentary:
1.) The single remaining coal burner - Merrimack, capacity 415 megawatts - has intermittently shut down/operated at 108 Mw output over the past few weeks. Whether this 60-year-old plant has operational issues or is fuel constrained, I do not know.2.) Interestingly, the Millstone 2 nuke plant (~1,000 Mw capacity) has been offline for a week due to a leaking pump. Back online now. [That explains the earlier fuel mix graphic at this post.]3.) That regular surge in hydro is undoubtedly coming from the Northfield Mountain project which is a pumped storage system. This plant can produce ~ 800/1,000 megawatts every 24 hours, BUT it was originally conceived when obtaining cheap, overnight electricity from the nearby Vermont Yankee nuke plant was available. As Vermont Yankee is now closed, the Northfield Mountain folks are compelled to buy market priced, overnight electricity. This explains why the heretofore cheap overnight electricity prices remain at nose bleed levels. (Supposedly, the net output - economically - from Northfield is now less than the current electricity production which is fed in at the morning and evening 'rush hour' demand times.)4.) Regarding the natural gas supply, the FSRU Exemplar is coming up to its fourth week of injecting natgas into the system via the Northeast Gateway Port just offshore Boston. Sourced from Trinidad. This is about the limits of its carrying LNG capacity (based upon the January, 2019 injection history) and I do not know if a replacement FSRU is scheduled to replace it. The company Excelerate owns/operates the Northeast Port and has about a dozen FSRUs worldwide. Replacing that FSRU appears to be absolutely crucial to maintaining New England's already precarious power situation these next 5/6 weeks.5.) The site marinetraffic.com is a real time, global trafficking site for worldwide shipping ... an incredible site for the maritime junkies amongst us. The size of the non stop armada of ships delivering expensive fuel oil to New England is simply breath taking. This directly leads to ...6.) Setting aside all the eye glazing economic components of the ISO/Regular Folks' monthly electricity billings, that constant $160/$200 per Megawatt hour wholesale price we keep seeing will manifest in about 5 month's time in New Englanders' electric bills.
For rough context, a mere 10 months ago - March, 2021 - the average wholesale electricity price was ~$16/Mwh. With pricing currently, consistently at 10 times that level, those poor folks will see absolutely crushing electricity pricing in a few month's time. AND they will still be fortunate IF they have not had blackouts. (See FSRU status for the supply of critically needed natgas).With all this drama (I picture ISO head van Welie acting like the Lloyd Bridges character in the movie 'Airplane'), New England is facing 2 to 3 more winters - minimum - of these conditions as lead times for any workable 'solutions' take just that long.
Compounding all this self-induced idiocy, there currently exists NO viable, mid term pathway to alleviate this situation as the huge, power-sustaining LNG terminal at Everett is scheduled to be shut down in 2024.Simply fascinating- albeit morbidly so - to observe so many intelligent, concerned people hurtle headlong into a self destructing situation.
And, one more observation:
Brief mention of the availability of natgas and Boston's temperature ...
When you noted the changing percentage/usage of the natgas component in New England's electricity generation, just Google 'Boston temperature' and you will find a 100% correlation between coldness and natgas availability for power burn.
This is identical to South Australia's electricity prices and the contemporaneous temperature and wind speed.
Updates
Later, 6:00 p.m. CT: the "cyclone bomb" remains settles in off shore Boston.Wow, wow, wow -- flights are starting to arrive back in Boston. This storm lasted less than twelve hours, at least as far as the airlines were concerned. They started canceling flights earlier but that was to get aircraft positioned in proper airports. Flights are also arriving New York.
Original Post
Earlier I said these were the best three sites for tracking the nor'eastern, Winter Storm Kenanf:
The winds: one can pick any point on the globe, to get wind speed, direction and exact GPS coordinates.
ISO NE, of course: https://www.iso-ne.com/isoexpress/web/charts.
Flight radar here: https://www.flightradar24.com/36.22,-75.43/6. At the time I am updating this, there is one plane "stranded" at Logan Airport (Boston).
THIS IS SO COOL. Updated at 3:21 p.m. CT, Saturday, January 29, 2022.
I just checked the three sites.
1. The "cyclone' is now just to the east of Boston, having moved from off-shore North Carolina overnight.
2. There remains one stranded airplane at Logan airport. This has not changed from overnight.
3. There are but a handful of stranded planes at Newark and at JFK but most amazing, while checking Flight Radar for this update, a Bombardier Global 6000 (GLEX) was headed from the northwest (over Pennsylvania) headed into Newark when it literally -- in front of my eyes while watching Flight Radar -- was diverted, making a sharp left turn toward White Plains, NY. It had been on a 120° heading (heading southeast) when it abruptly turned to the northeast on a 45° heading. Pretty amazing to see that live on a random observation. Right now I see plane (call sign N408GJ) having just departed Newark, with a heading due south, 180° and now turning to the southwest, along the coast, over central New Jersey. That plane is a private plane, with flight plans from Teterboro Airport (New Jersey, 12 miles from midtown Manhattan) to Raleigh-Durham.
There is a Lear Jet en route to NYC.
It appears that another plane (XAJCZ) was also headed to Newark and was suddenly diverted and is now headed toward JFK. This is a US Customs and Immigration Enforcement aircraft. Nope, it appears it returned to Teterboro. And that aforementioned GLEX aircraft appears to have landed at Teterboro also.
Last update was back in 2019. Look at how much these wells have produced since the last update.
That dreaded Bakken decline.
Twenty years from now, they're going to say, "we under-estimated the Bakken." LOL.
Earlier a reader and I commiserated about the share price of PSX after earnings were announced.
Closing the loop:
Maybe this is why, link here:
How did I miss this?
I just stumbled across this. I don't know how I missed it and I have no idea why I checked. There must be at least one reader who follows AMGN. LOL.
AMGN: raised its dividend from $.176 to $1.94.
Oh, that's right. I check in on dividend announcements every day or so.
Links for "Investors" here.
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The well:
Here we go again:
Production when this well was approaching a decade of production:
| BAKKEN | 9-2015 | 30 | 12644 | 12581 | 5793 | 9432 | 6491 | 1408 |
| BAKKEN | 8-2015 | 31 | 10030 | 10121 | 5034 | 8076 | 6529 | 302 |
| BAKKEN | 7-2015 | 31 | 15224 | 15209 | 8612 | 12745 | 10588 | 344 |
| BAKKEN | 6-2015 | 30 | 18132 | 18447 | 12833 | 14088 | 9918 | 2050 |
| BAKKEN | 5-2015 | 22 | 3381 | 3205 | 3485 | 2760 | 1259 | 1020 |
| BAKKEN | 4-2015 | 18 | 2298 | 2292 | 3025 | 1492 | 154 | 984 |
| BAKKEN | 3-2015 | 11 | 1343 | 1106 | 1947 | 957 | 144 | 611 |
And coming from such mediocrity when it was first drilled. This is the initial production. It never got above 8,000 bbls / month until it jumped from 2,000 bbls / month to 15,000 bbls / month many years later. Hubbert said that wouldn't happen. Wiki needs to update the Hubbert entry. But they won't; doesn't fit the narrative.
Initial production:
| BAKKEN | 1-2008 | 31 | 4122 | 4310 | 914 | 227 | 227 | 0 |
| BAKKEN | 12-2007 | 31 | 4924 | 5089 | 1207 | 540 | 540 | 0 |
| BAKKEN | 11-2007 | 30 | 5139 | 4948 | 1075 | 1183 | 1183 | 0 |
| BAKKEN | 10-2007 | 29 | 7644 | 7989 | 2493 | 1202 | 1202 | 0 |
| BAKKEN | 9-2007 | 4 | 1794 | 967 | 1240 | 469 | 469 | 0 |
