Masters Today; Two Wells Coming Off Confidential List -- April 7, 2022

Masters: begins today, of course.With all the coverage "he" will get, hardly necessary for the other 90 players to show up.

Jobless claims. Pending.

Global SPR releases:

• US: 160 million bbls
• several IEA members: 60 million bbls
• global demand: 100 million bbls daily

Commodities: could soar 40% as investors pivot. 

Buffett: takes stake in HP. Stock soars.

Energy transition is dead. Trending today:

• UK energy security strategy does not include the word "climate"
• doesn't mention "emissions" or "CO2"
• it does mention "cleaner" energy
• Greece: to ramp up coal mining
• energy security trumps emissions, at least for next 5+ years;
  

Equinor - Canada - Bay du Nord oil project: $12 billion project.

• offshore; proposed by Equinor
• approved by Canada
• one wonders: would the US approve a $12 billion offshore oil project? 
• my understanding: the US is not even approving leases for offshore projects already under development, but that needs to be fact-checked; that may be old news 

EVs:

• tale of two companies:
• Rivian yesterday reported about 2,000 EVs produced in 1Q22
• Chevy Bolt: goal -- 25,000 EVs for full year 2022
• market cap:
• RIVN: $35 billion
• GM: $57 billion
• P/E:
• RIVN: n/a (not making a profit)
• GM: 6
• and analysts tell us to do our due diligence
  

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Back to the Bakken

Active rigs:

$97.98	4/7/2022	04/07/2021	04/07/2020	04/07/2019	04/07/2018
Active Rigs	36	15	36	62	58

Thursday, April 7, 2022: 13 for the month, 13 for the quarter, 172 for the year

• 38557, conf, Crescent Point, CPEUSC Pankake 2-6-7-157N-99W-MBH-LL, Dublin, no production data,
  
• 36103, conf, CLR, Gordon Federal 5-5H, Haystack Butte, producing,
  

RBN Energy: as gasoline prices spike, how do electric vehicles stack up?

Even before the recent spike in crude oil and gasoline prices, the subject of a contentious House committee hearing Wednesday with executives from six large oil and natural gas companies, electric vehicles (EVs) were having a bit of a moment. From legacy brands such as BMW and General Motors to the EV startup Polestar, several automakers used their spots during February’s Super Bowl — the most-watched event on the TV calendar, where the cost for a 30-second ad went for a whopping $6.5 million — to highlight their latest EV offerings. Now, with gasoline prices about 50% higher than they were a year ago (and about 20% higher than they were on Super Bowl Sunday), EVs are getting a whole new level of attention from everyday drivers, not just Tesla fanboys, car afficionados, or the environmentally conscious. In today’s RBN blog, we look at whether the recent run-up in gasoline prices will help turn EVs into a more economical option.

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Initial Production Data

Today:

• 36103, conf, CLR, Gordon Federal 5-5H, Haystack Butte, 

Date	Oil Runs	MCF Sold
2-2022	23942	36859
1-2022	29965	45588
12-2021	29886	43803
11-2021	39671	53241
10-2021	1177	0