Enerplus Reports Another Huge Well; WTI Holding At $102 -- April 28, 2022

Price of gasoline: White House has same message -- "we're continuing to monitor the situation;" "all options are on the table"; and, "we have many options." 

• first thing I did this morning was look at Nixon's wage and price freeze
• wiki entry here and here;
• executive order 11615, October 22, 1971;
• led to stagflation of the 1970s;

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Back to the Bakken

Active rigs:

$102.40	4/28/2022	04/28/2021	04/28/2020	04/28/2019	04/28/2018
Active Rigs	23	16	30	64	62

Thursday, April 28, 2022: 55 for the month, 55 for the quarter, 214 for one year

• 38138, conf, CLR, Dennis FIU 10-8H, Cedar Coulee, no production data;
• 37725, conf, Enerplus, Marten 151-94-33C-28H, Antelope-Sanish, another nice well;

RBN Energy: assessing next steps after Russia cuts gas to Poland and Bulgaria.

It’s been more than two months since Russia invaded Ukraine, sending global energy markets into chaos as most of Europe tries to figure out a way to quickly reduce its reliance on Russian supplies. The initial response from the U.S. and its allies was a slate of economic sanctions, but those largely left natural gas out of the equation, as parts of Europe are so dependent on Russian gas that stopping the flows would pose serious threats to the continent’s economies and energy security. Now, with no sign of an end to military hostilities and continual increases in the scope of sanctions, Russia is responding by starting to shut off flows to European countries that refuse to pay for their gas in rubles. Where is this headed? In today’s RBN blog, we look at the latest escalation, what led to this point and where the market might go from here.

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Initial Production

The well:

• 37725, conf, Enerplus, Marten 151-94-33C-28H, Antelope-Sanish, another nice well;

Date	Oil Runs	MCF Sold
2-2022	23081	42277
1-2022	36290	59362
12-2021	46619	67770
11-2021	58972	80182