Two Wells Coming Off Confidential LIst; 2022 Outlook For The Permian -- RBN Energy -- January 7, 2022

Japan: at crisis. Energy at 97% utilization. Any glitch ... S&P Global. 

Europe: link to Javier Blas --

• January, 2022: "Absolute emergency."
• September, 2021: "No need to panic."
• we all saw it coming.

Mexico: implications of a full Mexican export ban. Mexican production / exports. Could one say production is about 8 million bopd and exports are slightly under 2 million bopd. Doesn't that sound tectonic -- taking 2 million bopd off the North American market over the next two years? Short term winners? Canada and the Permian?

South America: Brazil -- what global warming emergency? Say what? New law passed granting 15-year extension of a subsidy for coal. Link here.

US shale: at close of current price, the average Canadian energy company could privatize and pay off all of its debt in just 4.4 years with free cash flow. Let's doe the math on CLR and EOG. Link here. 

And now, you are caught up.

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Back to the Bakken

Active rigs:

$80.05	1/7/2022	01/07/2021	01/07/2020	01/07/2019	01/07/2018
Active Rigs	34	11	56	64	54

Friday, January 7, 2022:

• 37261, conf, Whiting, Feehan 11-9H, Sanish, first production, 8/21; t--; cum 55K 11/21;
  
• 37130, conf, Hess, BL-Frisinger-156-95-2833H-4, Beaver Lodge, first production, 7/21; t--; cum 90K 11/21;
  

Thursday, January 6, 2022:

• 37235, conf,  Bruin, Wm Polar 157-101-24C-13-7B, Otter, first production, 8/21; t--; cum 41K 11/21;
  
• 37001, conf, CLR, LCU Reckitt Federal 6-22H, Long Creek, no production data,
  

RBN Energy: the 2022 outlook is bright for our favorite US basin. Archived.

You can count on certain things this time of year. Alabama is in the hunt for a college football national championship, there’s fresh powder somewhere in the Rockies, it’s mostly still shorts weather in Houston, and there’s a catchy new country song ripe for blog titles. January also brings some unknowns, with pundits throwing out various scenarios for stock and commodity markets, as well as the more recent trend in postulating the outcomes of the latest COVID variant. When it comes to the U.S. onshore oil and natural gas markets, the Permian continues to be old reliable, especially with crude north of $70/bbl and natural gas prices flirting with $4/MMBtu. 

There’s a lot we can’t predict about the year ahead (like the NCAA football championship, though this writer, at least, is pulling for Georgia next week), but our view of Permian production growth hasn’t changed. In today’s blog, we provide this year’s outlook for Permian crude oil and natural gas markets.