No Wells Coming Off Confidential List; Tellurian's Driftwood LNG -- March 31, 2022

Putin's War:

• misled;
• Switchblades;
• hybrid war: wiki entry;
• hybrid war: Small Wars Journal;

Amazon: union vote, Alabama. Matches Biden's polling numbers.

Chips: Apple considering more chip suppliers, including China;

• NAND flash memory chips made Yangtze Memory Technologies.

Cramer: flashback from social media today. 

Biden Surge: unlikely to be enough. Reuters.

• the Biden Surge is tracked here.

Oil:

• Brent: down 5.64%; down $6.40; trading pre-market at $107.00
• WTI: down 6.4%; down $6.90; trading pre-market at $100.90
• sweet spot: $90 - $100

**************************
Back to the Bakken

Active rigs:

$$100.90	3/31/2022	03/31/2021	03/31/2020	03/31/2019	03/31/2018
Active Rigs	34	14	43	66	60

No wells coming off confidential list today.

RBN Energy: with construction beginning, is Tellurian's Driftwood LNG a done deal, part 3. Archived.

Russia’s invasion of Ukraine has pushed U.S. LNG into the spotlight as Europe seeks to wean itself off Russian natural gas. In the short term, U.S. LNG to Europe is constrained by liquefaction capacity on the LNG output side but also by Europe’s own import capacity and pipeline grid. Very little can be done to quickly increase global LNG production, and while many export terminals will operate at peak capacity for longer to boost output, LNG terminals take time to build, so capacity for this year and the next few years is already set.

Further out, however, there is no shortage of new projects hoping to capitalize on the current clamor for LNG and reach a final investment decision (FID), and the U.S. could be headed toward its biggest year for new LNG capacity ever. In today’s RBN blog, we continue our series examining key U.S. projects, turning our lens to what is arguably the most discussed and reported-on project on our list — and one that is moving forward potentially without a formal FID — Tellurian’s Driftwood LNG.