Shanghaied: WTI From $114 To $108 -- March 29, 2022

$114 --> $108: Shanghaied. 

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Back to the Bakken

Active rigs:

$108.7	3/28/2022	03/28/2021	03/28/2020	03/28/2019	03/28/2018
Active Rigs	35	14	45	66	62

Monday, March 28, 2022: 47 for the month, 156 for the quarter, 156 for the year

• 38295, conf,  CLR, Rolf Federal 11-17HSL, Brooklyn, no production data,
• 37711, conf, Hess, EN-Johnson A-155-94-2932H-9, Alkali Creek, very nice well;
• 36893, conf, Petroshale, Crockett Federal 1TFH, Bear Den, producing,

Sunday, March 27, 2022: 44 for the month, 153 for the quarter, 153 for the year

• 38296, conf, CLR, Rolf Federal 10-17H1, Brooklyn, no production data,
• 37706, conf, Hess, EN-Johnson-155-94-2017H-8, Manitou, nice well;
• 36894, conf, Petroshale, Boone Federal 1MBH, Bear Den, producing; albeit, not much;

Saturday, March 26, 2022: 41 for the month, 150 for the quarter, 150 for the year 

• 36889, conf, Petroshale, Clark Federal 2TFH, Bear Den, producing; albeit, not much;

Friday, March 25, 2022: 40 for the month, 149 for the quarter, 149 for the year

• 38297, drl, CLR, Rolf Federal 9-17H, Brooklyn, no production data,
• 36890, loc/A, Petroshale, Lewis Federal 2MBH, Bear Den, producing; albeit, not much;

RBN Energy: E&P CAPEX and production guidance, and why they aren't doing more, part 2. 

There’s a lot of confusion out there — both in the media and the general public — about how producers in the U.S. oil and gas industry plan their operations for the months ahead and the degree to which they could ratchet up their production to help alleviate the current global supply shortfall and help bring down high prices. It’s not as simple or immediate as some might imagine. There are many reasons why E&Ps are either reluctant or unable to quickly increase their crude oil and natural gas production. Capital budgets are up in 2022 by an average of 23% over 2021. That increase seems substantial, but about two-thirds (15%) results from oilfield service inflation. And there are other headwinds as well. In today’s RBN blog, we drill down into the numbers with a look at producers’ capex and production guidance for 2022, the sharp decline in drilled-but-uncompleted wells, the impact of inflation and other factors that weigh on E&Ps today.