Pre-market:
- MPC: flat; closed up 4% yesterday;
- VLO: flat; closed up 5% yesterday;
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Back to the Bakken
The Far Side: link here.
Active rigs: 44.
WTI: $73.59.
Natural gas: $6.783.
Wednesday, December 14, 2022: 34 for the month, 143 for the quarter, 687 for the year.
38930, conf, Slawson, Lunker Federal 4-33-4TFH,
38863, conf, Sinclair, Hovden Federal 3-20H,
36899, conf, Bowline/Nine Point, Shaffer 155-102-27-22-7H,
35527, conf, WPX Energy, Two Shields Butte 13-21-32-16H3U,
38486, conf, Hess, GO-Johnson-156-98-2635H-4,
38216, conf, WPX Energy, Two Shields Butte 13-21 11TFH,
38215, conf, WPX Energy, Two Shields Butte 13-21 9H
36898, conf, Bowline/Nine Point, Shaffer 155-102-27-22-13H,
RBN Energy: is it too soon to celebrate comfortable winter propane market conditions?
Winter arrived early in many parts of the U.S. this year, with frigid temperatures and, in some places, snow measured in feet, not inches. Propane demand for heating is up, but surprisingly, inventories are high, prices are low and the outlook for the rest of the winter looks good. And propane just dodged a hail of bullets when Congress legislated away what had been a likely rail strike. Is it too early for propane marketeers to be dancing in the aisles about what looks like a safe outlook for winter season supplies? That’s the big question. Because spring is still more than three months away. And it’s a fact that sustained cold weather, logistical challenges and other factors can wreak havoc with any propane market. In today’s RBN blog, we examine the current state of the U.S. propane market, why things have improved so dramatically and, of course, what could still go wrong.
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