Boeing Down; Berkshire Up; Oil Surges; Every Single US LNG Export Terminal Set A New Monthly Record; Two Wells Coming Off Confidential List -- March 21, 2022

Market: would the Dow be green if it weren't for Boeing today?

• BA: down $11 in pre-market after a  Chinese 737 crashes overnight;
• BRK-B: will acquire insurance giant Alleghany Corp for $12 billion

Oil: surged over night; continues to price higher in early morning trading

• unlike a week or so ago when oil did this, this time it feels "real"
• Brent:up 4.6%; up almost $5; trading at $113
• WTI: up 4.65%; up $4.87; trading at $110

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Back to the Bakken

Active rigs:

$109.60	3/21/2022	03/21/2021	03/21/2020	03/21/2019	03/21/2018
Active Rigs	35	16	51	67	59

Monday, March 21, 2022: 33 for the month, 142 for the quarter, 142 for the year

• 36867, conf, CLR, LCU Truman 11-23H, Long Creek,
  
• 34068, conf, Enerplus, Spider 149-92-23D-29H-TF1, 33-025-03373, Heart Butte,
  

RBN Energy: how much more LNG can the US send to Europe?

U.S. LNG exports are at an all-time high, driven primarily by new capacity online or commissioning, but the existing terminal fleet has also been pushing production to the max as offtakers, particularly in Europe, hunt for every spare molecule they can find. 

Every single terminal in the U.S. set a new monthly export record in either December or January. 

But is it enough? 

With the ongoing and tragic war in Ukraine threatening energy security and reliability in Europe, where gas storage inventories are already running low, the focus increasingly turns to LNG to replace at least some of the gas it typically imports from Russia. It sounds great in theory, and in the long term more LNG capacity will be added, but for now, we’re stuck with the infrastructure we’ve got, putting a ceiling on both how much Europe can take and how much exporters, including the U.S., can send. In today’s RBN blog, we look at the potential for incremental LNG exports from the U.S. to Europe to help offset Russian gas.

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Initial Production

36867:

Date	Oil Runs	MCF Sold
1-2022	43444	65296
12-2021	27299	37341
9-2021	226	0

• 34068:

• FracFocus: data for two fracks, both the same exact time period:
  

• 7/18/21 - 7/30/21, a very small frack: 4.1 million gallons of water, 51% produced water by mass; 39% fresh water by mass;
• 7/18/21 - 7/30/21, a much larger frack: 8.7 million gallons of water, 51% produced water by mass; 39% fresh water by mass;
• total: 12.8 million gallons of water; overall, a large frack;

Date	Oil Runs	MCF Sold
1-2022	6273	3229
12-2021	7103	3657
11-2021	14433	8769
10-2021	15794	9884
9-2021	4104	2330