EIA: has lost all credibility.
- If any doubt, look at SecEnergy and the White House press secretary.
Lukoil chairman:
- in-hospital death. Complications of Covid?
- Lukoil: second largest company in Russia after Gazprom
- Gazprom: natural gas
- Lukoil: oil, making Lukiol the largest oil company in Russia
- Lukoil chairman on record as criticizing Putin's Ukraine invasion
Jobs report:
- this is not stagflation
- this is a latent rip-roaring economy with the Fed scared it can't hang on / control things, and the Biden administration getting ready to spend even more money
- for the past six months we've been told "the jobs number"is a lagging indicator, and that lagging indicator just keeps getting "better"
- stagflation: high unemployment, slow growth, and high inflation; we've got two of the three, and the third might be "relative"
- folks are freaking out over a 4%-Fed rate which might in fact be the Goldilocks number
**************************
Back to the Bakken
The Far Side: link here.
WTI: $86.43. China -- another Covid lockdown. Inexplicable. Or so some think.
Natural gas: $9.227
No wells coming off confidential list.
No wells coming off confidential list this week except for one on Friday, tomorrow.
RBN Energy: E&P shareholders reap soaring returns while producers boost cash balances.
Champagne corks were popping in E&P boardrooms and executive suites over the past few weeks as they unveiled record-high second-quarter 2022 earnings and cash flows. The strong financial results in the near-idyllic quarter — pre-tax operating earnings and cash flows surged by 29% and 22%, respectively, from the already elevated Q1 2022 levels — were driven by soaring commodity prices and producers’ strict financial discipline. And the celebrations weren’t limited to E&P headquarters. Shareholders have also benefited as companies passed on the unprecedented largess to their investors. In today’s RBN blog, we analyze how U.S. oil and gas producers distributed their soaring free cash flows and discuss the underlying corporate strategies.
Cash flow, 2Q22 -- RBN Energy -- link here.
Putin took him out like he did the 9 other "dissenters".
ReplyDelete"Took him out" or "pushed him out"?
DeleteYes, a number of high level Russian management types have had some unfortunate “accidents” like falling off balconies on multi story buildings in the past few years. Strange that they all were cross ways with Putin in some fashion or another. Just a coincidence I guess. It happens.-
ReplyDeleteSaudi Arabia and Russia seem to have similar ways of handling "issues."
DeleteProbably a Clinton “suicide” Russian style
ReplyDeleteYes, I wonder who Hillary's doppelganger in Moscow is?
Delete