- link here:
- MSRP.
- Sarasota, FL: if you can't afford the car, lots of cool accessories.
- US natural gas storage reverses flow as final draw drops stocks below 1.4 Tcf.
- US: kills Keystone XL:
- Canada: greenlights controversial $12 billion offshore deepwater oil project; link here, previously posted;
COP: steps up land sale with divestiture of some Eagle Ford assets. Link here.
T: record date for spin-off passed earlier this week, April 5.
I assume this is the Warner Bros. Discovery ticker for "when issued" but I don't know for sure. If I understand this correctly, T shareholders maintain same number of shares but will receive 0.24 shares WBD for ever share of T held.
Billionaires: Forbes list -- link here but focuses only on Philadelphia-area residents.
The top four spots on the Forbes list were held by the same billionaires as last year. Elon Musk ($219 billion) surpassed Amazon.com founder Jeff Bezos ($171 billion) for the top spot. They were followed by LVMH CEO Bernard Arnault ($158 billion) and Microsoft co-founder Bill Gates ($129 billion).<Fluff. Headline caught my eye. Chart says it all. If I have time, I will come back to this later.
South America: oil. Compare this article to early articles on the Bakken. Peak oil? Nope.
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Back to the Bakken
Active rigs:
$96.04 | 4/8/2022 | 04/08/2021 | 04/08/2020 | 04/08/2019 | 04/08/2018 |
---|---|---|---|---|---|
Active Rigs | 37 | 16 | 36 | 64 | 58 |
Friday, April 8, 2022: 16 for the month; 16 for the quarter, 175 for the year
- 38556, conf, Crescent Point, CPEUSC Pankake 3-6-7-157N-99W-MBH,
- 38555, conf, Crescent Point, CPEUSC Pankake 4-6-7-157N-99W-MBH,
- 38516, conf, CLR, Thorp Federal 6-28H,
RBN Energy: E&Ps post record profits in 2021, and 2022's likely to be even better.
With soaring oil prices dominating recent headlines, it’s no surprise that profits and cash flows for the U.S. exploration-and-production (E&P) sector rebounded dramatically in 2021 from heavy, pandemic-induced losses in 2020. Rising crude oil and natural gas demand fueled a whopping $150 billion turnaround in results, as the 43 major publicly traded E&Ps we monitor recorded $86 billion in pre-tax income after incurring a net loss of $66 billion in 2020. Oh, and by the way, 2021 was the most profitable year in at least the last two decades for producers, which reported income two-thirds higher than the previous peak in 2014, when commodity prices were significantly higher. In today’s RBN blog, we compare producers’ 2021 performance with 2020 and 2014 and explain why results should be even stronger this year.
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