Looks like pretty significant growth predicted. From 165,000 bopd to 200,000. But still, nice growth rate. 20%? They have been that high before, actually (pre Covid), so it's not that crazy.
It's not from the Permian deal either...in that those assets had little existing production. Not saying growth won't come in the Permian, but it will be organic not inorganic additions.
Yes, I get a kick out of Harold Hamm. There were some negative observations over on twitter from some good analysts re: CLR but we will see how this plays out. I think one could argue if it weren't for Harold Hamm these days we wouldn't have much to talk about with regard to the Bakken, good, bad, or indifferent.
If you listen to the NDIC video (I always do, but at 2x speed), Lynn says that all the execs except one are telling him the "Bakken is mature" and that they will just maintain production.
The flaring restrictions are holding them back some, companies could do more for sure without them. But they've kinda knuckled under to ESG and don't complain any more.
Wonder who the one growth exec was? Hess and CLR both have growth plans.
Looks like pretty significant growth predicted. From 165,000 bopd to 200,000. But still, nice growth rate. 20%? They have been that high before, actually (pre Covid), so it's not that crazy.
ReplyDeleteIt's not from the Permian deal either...in that those assets had little existing production. Not saying growth won't come in the Permian, but it will be organic not inorganic additions.
Yes, I get a kick out of Harold Hamm. There were some negative observations over on twitter from some good analysts re: CLR but we will see how this plays out. I think one could argue if it weren't for Harold Hamm these days we wouldn't have much to talk about with regard to the Bakken, good, bad, or indifferent.
DeleteIf you listen to the NDIC video (I always do, but at 2x speed), Lynn says that all the execs except one are telling him the "Bakken is mature" and that they will just maintain production.
ReplyDeleteThe flaring restrictions are holding them back some, companies could do more for sure without them. But they've kinda knuckled under to ESG and don't complain any more.
Wonder who the one growth exec was? Hess and CLR both have growth plans.
Among everything else, they are challenged with supply chain issues including a work force; increasing oil services costs; and, continued uncertainty.
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