WTI Closing In On $79; EOG Breakeven At $30; Covers Dividend At $36; Thirty-Four Active Rigs; Two Wells Coming Off Confidential List -- January 6, 2022

Freeze: Bakken. Link here. 

QCOM: links chip deal with Volvo, Honda, and Renault. Based on a number of data points, this seems to be a very, very big deal. 

WTI: up 1.26%; up almost $1.00; trading at $78.81 which is about nineteen cents from $79. EOG breakeven at $30; covers dividend at $36. Just saying.

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Back to the Bakken

Active rigs:

$78.81	1/6/2022	01/06/2021	01/06/2020	01/06/2019	01/06/2018
Active Rigs	34	11	56	63	54

Thursday, January 6, 2022:

• 27235, conf,  Bruin, Wm Polar 157-101-24C-13-7B,
• 37001, conf, CLR, LCU Reckitt Federal 6-22H,

RBN Energy: 45Q tax credits to evolve to incentivize carbon-capture projects. 

Capturing carbon dioxide and permanently storing it below ground is expected to be a critically important tool in the global effort to reduce greenhouse gas (GHG) emissions. The oil and gas industry has been a leader in showing how CO₂ –– albeit mostly CO₂ that is produced from underground reservoirs, not captured from industrial facilities or power plants — can be used and sequestered via enhanced oil recovery (EOR). The catch is that capturing CO₂ and using it for EOR or injecting it into deep wells for eternal storage doesn’t come cheap and so government incentives are required to justify investment in carbon-capture projects. Enter the 45Q tax credit. First made available for U.S. carbon-capture projects in 2008, it has been expanded considerably since then and could soon be expanded further, although its results to date are a mixed bag at best. In today’s RBN blog, we discuss key aspects of the tax credit, how it has changed over time, and what may be coming down the pipeline.