CLR To Report One Well Today -- February 18, 2022

Active rigs:

$91.13	2/18/2022	02/18/2021	02/18/2020	02/18/2019	02/18/2018
Active Rigs	33	15	56	64	56

Friday, February 18, 2022: 35 for the month, 90 for the quarter, 90 for the year

• 38146, drl, CLR, Flint Chips Federal 11-5H1, Cedar Coulee, no production reported;
  

RBN Energy: as wind and solar sectors expand, service opportunities open up.

There is a lot we don’t know about how the energy transition might play out over the next couple of decades. One thing that we can say with a high degree of certainty, however, is that the big run-up in wind and solar generating capacity in recent years is just the beginning — a lot more wind farms and solar arrays will be developed through the 2020s and ’30s, as will many, many energy-storage batteries. Another good bet is that as the portfolios of wind and solar developers grow, they will need help in maintaining, upgrading, and replacing their assets from a newly emerging type of company: the clean energy services provider. In today’s RBN blog, we discuss wind and solar’s role in the energy transition and the types of services these new companies might provide.

Back in the late 1950s and early ‘60s, rock ‘n’ roll was taking the world by storm — and so was crude oil. The Seven Sisters — the corporate ancestors of today’s BP, Shell, Chevron, and ExxonMobil — were huge and dominant. They were growing year-by-year and running every aspect of their operations, each convinced that they alone had the technological expertise to get the most out of the oil reserves they controlled. But as their expansion continued, the big oil companies started turning to new market entrants — oilfield services companies — that offered sophisticated, often proprietary drilling techniques as well as economies of scale and other benefits.

Nowadays, the upstream side of the energy business is considerably more diversified, and oilfield services companies like Schlumberger, Halliburton, and Baker Hughes are indispensable industry players that provide the wide range of products and services needed to efficiently develop wells and produce crude oil, natural gas, and NGLs for their E&P clients.

With the much-discussed energy transition now under way, a new need for specialized support may be emerging in the clean energy space. Since the turn of the century, the U.S. has experienced extraordinary growth in the capacity of wind farms and solar facilities. According to the Department of Energy (DOE), there was about 2,500 megawatts (MW) of wind capacity in place in 2000, but by 2020 the nation’s wind capacity had increased nearly 50-fold to 122,000 MW, including 33,000 MW in Texas alone. Another 7,200 MW of U.S. wind capacity was added in the first three quarters of 2021, and 40,000 MW more is in various stages of construction and pre-construction development.