What We Woke Up To This Morning -- September 30, 2022

NOG is tracked here.

Usual disclaimers apply.

Ukraine: Putin's rhetoric with regard to tactical nuclear weapons is getting more desperate. When will we know that US intelligence has intercepted the "go" signal from Putin? Watch for:

• increased NATO and US airborne intel on FlightRadar24;
• watch for reports coming out of England of increased air traffic from US-Brit bases, particularly, RAF Mildenhall and RAF Lakenheath:
• watch for reports coming out of Germany of increased air traffic from US-German bases, particularly Ramstein and Spangdahlem;
• watch for reports coming out of the US Army hospital at Landstuhl;
• watch for reports of Ukrainian soldiers being provided protective gear and iodine tablets;
• watch for reports of Ukranian soldiers being provided iodine tablets;
• watch for US putting nuclear triad -- namely the bombers -- on alert;
• one would not expect his handlers to allow Biden to speak extemporaneously on this issue;

Ukraine: social media says the country has just applied too join NATO; needs to be fact-checked.

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Back to Shale

NOG

NOG is tracked here.

NOG announces core northern Delaware Basin bolt-on acquisition. Link here.

The deal:

• seller: Alpha Energy Partners
• primary operator: Mewbourne Oil; other operators : Conoco, EOG
• "initial" purchase price -- see linked press release for details -- $157.5 million (and the "point-five"?)
• average production and net acres:
• 3,500 boe
• $157.5 milllion / 3,500 boepd = $45,000 / flowing boe (upper-mid to upper end; maybe the high upper end, I've lost the bubble on this one)
• 2,800 net acres
• = $56,250 / net acre -- very high end
• location:
• Lea and Eddy counties, NM
• Loving County, TX
• tier-1: sub-$40 per barrel average breakevens

EnCap

Link here. 

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All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.