SPR: Biden preparing for another release.
Sanctions: the US has sanctions on Iran, Venezuela, Russia, and then asks OPEC+ for more oil.
EIA dashboards:
- EIA pdf, Bakken: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf
- EIA, pdf, Permian: https://www.eia.gov/petroleum/drilling/pdf/permian.pdf
- EIA, pdf, Eagle Ford: https://www.eia.gov/petroleum/drilling/pdf/eagleford.pdf
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Back to the Bakken
Active rigs:
| $91.35 | 2/23/2022 | 02/23/2021 | 02/23/2020 | 02/23/2019 | 02/23/2018 |
|---|---|---|---|---|---|
| Active Rigs | 31 | 15 | 54 | 66 | 56 |
Wednesday, February 23, 2022: 44 for the month, 99 for the quarter, 99 for the year|
- 38150, conf, CLR, Flint Chips FIU 15-5HSL1, Cedar Coulee, no production data,
RBN Energy: a deep dive into the process, quirks, and idiosyncrasies of US natural gas pricing.
If you’re going to be involved in any aspect of U.S. natural gas, it’s critically important to understand how physical, futures, and forward gas markets work and how pricing is determined. That reality was emphasized almost exactly a year ago when physical spot prices for U.S. natural gas had their most volatile and bizarre weeks ever as Winter Storm Uri sent a blast of bitter-cold, icy weather down the middle of the country, wreaking havoc on gas infrastructure just when heating demand was at its highest. Prices in the Northeast, which normally see winter spikes, barely reacted, while prices across the Midcontinent and Texas rocketed to record-shattering levels, above $1,000/MMBtu. The events of the Deep Freeze of February 2021 have since brought renewed scrutiny to the various aspects of the gas and power markets, and a need among legislators, regulators and everyone who deals with energy commodity markets to understand how gas is traded in the U.S. and how prices are set. We’re here to help. So, in today’s RBN blog, we begin a deep dive into the process, quirks and idiosyncrasies of U.S. gas pricing.
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