Mideast heats up: Gulf oil producers seek US military support against Yemen attacks. Link to Charles Kennedy. Several story lines here. How bad is it? The UAE is asking Israel for help in convincing the US to help. Okay.
Uinta: Crescent Energy closes $690 million acquisition of EP Energy Uinta assets. Source. At the time of the announcement, February, 2022, the total cash deal was said to be $815 million. The Uinta is tracked here. BusinessWire:
- 145,000 contiguous net acres
- $690 million / 145,000 = $4,750 / acre
- 30,000 boed (~ 65% oil)
- $690 million / 30,000 =$23,000 / boepd
Drought:
from earlier today --
Lake levels:
Now this, from the EIA: electricity at California's hydropower plants in 2021 was almost 50% below the 10-year average. In the Pacific Northwest, hydropower generation was almost 15% below the 10-year average. Full report here.
Drought, April 1, 2022, Sierra Nevada:
- California's all-important April 1 water measurements: Sierra Nevada snowpack at 38% of long-term average
- despite a massive late-December storm;
- but then the state's driest January through March on record;
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