Top story: KKR, Pembina combine Canadian gas assets. Link to Charles Kennedy.
- this is a biggie, and on top of that, Charles Kennedy got the story
- $9 billion deal
- the two will also acquire the assets of Energy Transfer in the region
- the new company, for now called Newco
- Pembina: to own 60%:
- KKR will hold the rest; back-of-the-envelope suggests KKR will hold 40%;
- assets to be included in Newco
- Pembina's field-based natural gas processing assets
- the Veresen pipeline business (a joint venture between KKR and Pembina)
- assets of Energy Transfer Canada, 49% owned by funds managed by KKR
- it appears Veresen was the key, with ETC thrown in
CNBC
- I haven't watched CNBC for about four weeks now; don't miss it
- from social media I understand Sorkin and Kernan got into a "spat" yesterday over renewable energy
- number one reason why I won't watch CNBC: Sorkin.
- now I see on social media, Jim Cramer is calling "oil a perma short."
- that pretty much does it for me
- for now
- oh, I know, I will end up going back to CNBC someday and write good things about it
- I flip-flop a lot; I follow the science, the data, LOL, I'm a data-driven guy, LOL, just like Fauci and Jay Powell
- hey, by the say, did anyone notice, Fauci was not mentioned in the SOTU address?
- and after all he did to guide the US through one of the worse panics -- I mean pandemics -- ever?
- he deserves the Nobel prize in medicine or perhaps the Peace Prize; definitely no prize in economics;
- Zelenskyy: Time's man of the year
- whatever happened to Greta?
Oil:
- Brent: up 2% overnight; up $2.40; trading at $115.30
- WTI: up almost 3% overnight; up $3.09; trading at $113.70
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Back to the Bakken
Active rigs:
$113.70 | 3/3/2022 | 03/03/2021 | 03/03/2020 | 03/03/2019 | 03/03/2018 |
---|---|---|---|---|---|
Active Rigs | 31 | 15 | 50 | 67 | 59 |
Thursday, March 3, 2022: 4 for the month, 112 for the quarter, 112 for the year
- 38418, conf, Ovintiv, Bernice 150-99-20-17-6H, South Tobacco Garden, nice well, first production, 12/21; t--; cum 56K 1/21;
- 38123, conf, CLR, Flint Chips Federal 4-5H, Cedar Coulee, no production data;
RBN Energy: there's plenty of energy, no shortage; it just depends on how much you want to pay for it, so let's make natural gas power plants even more expensive: co-powering natural-gas-fired power plants with hydrogen. Rube Goldberg? They're gonna use natural gas to make hydrogen, and then use that hydrogen to power natural gas plants. I can't make this stuff up. Oh, why not, we've tried everything else.
It’s true. A lot of folks harbor serious doubts about whether “green,” “blue,” or “pink” hydrogen (H2) can ever be produced efficiently and cheaply enough — and in sufficient volumes — to justify blending hydrogen with natural gas, let alone using H2 as an outright replacement for gas. At the same time, though, a growing number of electric utilities and independent power producers — generally cautious groups — are planning new, large-scale power plants that will be capable of hydrogen/natgas co-firing from the get-go, and can be converted with relative ease to 100% H2 later on. Can hydrogen really make sense as a generation fuel? In today’s RBN blog, we begin a series on the prospects for environmentally friendly hydrogen — and ammonia, an H2 carrier — in the power generation sector.
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