Several Wells Coming Off Confidential List Today; WTI Back Over $80 -- November 30, 2022

WTI: up 3.06% right now; trading at $80.59.

Note: the Biden administration will not re-fill the SPR. A floor has been set for the price oil, something the industry has dreamed of for decades -- a floor for the price of WTI, makes CAPEX plans so much easier

• WTI is back over $80; hopefully investors took advantage of the temporary, recent pullback in the price of WTI:
• with regard to the oil industry's response to Biden's comments about the administration's fossil fuel policies, the oil industry PR spokesperson is tone-deaf and will lose the argument; 
• DVN: up 1.72% in early trading; up $1.11; trading at $68.61; well off its 52-week high; pays an incredible 7.53%. 
• COP: up 1.54% in early trading; up $1.91; trading at $126.16; well off its 52-week high; pays  4.12%.

For investors: three top energy stocks to buy right now.

• XOM: a dividend aristocrat;
• DVN: a cash-rich company with an attractive dividend
• the company blazed a trail when it announced a fixed-plus-variable dividend policy, which allows investors to reap bigger rewards when oil prices spike.
• CNBC analysts added more; link here.
  
• OXY: reeduced debt --> more money for shareholders

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

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.  

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Back to the Bakken

The Far Side: link here.

Active rigs: 41.

WTI: $80.59.

Natural gas: $7.195.

Thursday, December 1, 2022: 3 for the month, 112 for the quarter, 656 for the year.
38174, conf, CLR, LCU Foster FIU 11-28H,
37964, conf, Enerplus, Omelet 151-94-16B-21H,
29285, conf, Slawson, Vixen Federal 4-19-30TFH,

Wednesday, November 30, 2022: 72 for the month, 109 for the quarter, 654 for the year.
38844, conf, Slawson, Vixen Federal 7-19-30TFH,
38819, conf, CLR, Bonneville 7-26HSL,
38728, conf, Kraken, Raymond 16-21 2H,
38173, conf, CLR, LCU Foster FIU 10-28H1,
37965, conf, Enerplus, Ham 151-94-16B-21H,
37945, conf, CLR, Brangus FIU 14-11H2,

RBN Energy: prolific renewables are key to Pacific Northwest hydrogen hub plans. Archived. Hydrogen is tracked here.

Today, we turn our attention to a pair of hydrogen-hub proposals in the Pacific Northwest, both of which focus on the region’s potential for producing clean hydrogen via electrolyzers powered by renewables — especially electricity from large hydroelectric plants in Washington state and Oregon, but also from new wind farms and solar facilities that would be purpose-built to power clean-hydrogen production. Washington is far and away the U.S.’s leading producer of hydropower, generating more than 70 million megawatt-hours (MWh) from its rivers and dams in 2021, according to the Energy Information Administration (EIA). Oregon was #2 in hydropower, with just over 28 million MWh last year (edging out #3 New York, home of Niagara Falls). And yes, despite Seattle and Portland’s reputation for long streaks of cloudy, rainy weather, many other parts of Washington, Oregon and Idaho are typically dry and sunny — windy too — offering a lot of potential for solar and wind power.

As we said earlier, there are two separate but overlapping hub proposals in the Pacific Northwest. One is advanced by the Pacific Northwest Hydrogen Association (PNWH₂), a public-private partnership led by the state governments in Washington and Oregon that also includes representatives from industry, universities and colleges, labor unions and Native American tribal interests, among others. The other proposal is being advanced by Obsidian Renewables, a Lake Oswego, OR-based solar developer that has been working with a range of port-agency, labor and tribal representatives on what it calls the Obsidian Pacific Northwest Hydrogen Hub — we’ll refer to it as the Obsidian plan. (Obsidian, by the way, is a dark natural glass formed by the cooling of molten lava — Oregon has lots of the stuff.)

Obsidian Renewables took the unusual step of making its hydrogen-hub concept paper public — few, if any, others have — and, given that the proposal is quite specific, we’ll begin with a description of it, then follow that up with a more general look at PNWH₂’s plan.