Monday, December 26, 2022

Top Stories For 2022 -- IN PROGRESS

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Top Stories of 2022
By Category

Top Story Of The Year:

  • Coal is the transition fuel
    • irony: Germany's pivot to coal changes the dynamic
    • it's not "okay" for China, India, others to turn to coal
  • SPR release prior to midterm elections; record release; trending toward $5-gasoline; 
  • US LNG export projects have made over 20 supply deals since June
  • Almost a full year of war in Ukraine and no end in sight
  • China "opens" at end of the year; will pivot to herd immunity
  • Crypto crushed

Runner-up story of the year:

  • Recession talk continues; US equity markets in bear territory
  • Covid-19 in the US, as a top story, quietly goes away
  • Southwest Airlines collapse during Christmas holidays; extended into New Year's

The Biden administration:

  • Southern surge: a non-story:
  • Official energy policy: no more drilling
  • Three huge bills passed
    • Infrastructure, make America great again (IRA)
    • Tech ("Chips" bill)
    • Spending

The world:

  • China: Covid-19 disaster
    • Millions to become infected;

Most surprising story of 2021:

  • Coal is the transition fuel

The most egregious story to come out of the Bakken:

The "best call" by the blog

  • Devon

The most frustrating story to come out of the Bakken

  • Winter storms greatly affect production
    • Spring, 2022
    • Autumn, 2022

The top US story:

  • Biden doing surprisingly well.
    • Huge spending bill passed
    • Three major bills passed
    • no "red wave"
      • in off-year election, POTUS' party holds the US Senate
        • barely took control of the US House

North Dakota, energy:

  • Harold Hamm takes CLR private
  • Whiting - Oasis merge: Chord

North Dakota economy:


North Dakota technology:


Most exciting non-operator in the Bakken:

  • NOG, as usual

Most exciting micro operator in the Bakken:

Most exciting small operator in the Bakken:


Most exciting medium-size operator in the Bakken:

  • Enerplus

Most exciting large operator in the Bakken:

  • CLR

Most aggressive large operator in the Bakken:

  • CLR

Biggest deals:

  • Whiting - Oasis merge: Chord

Most surprising deal:

  • Whiting - Oasis merge: Chord
  • CLR: is taken private

Record price per Bakken mineral acre, 2022 (quarterly lease sales):

  •  

Bakken operations, rigs:

  • Trended toward forty-five active rigs; plateaued at 45 rigs

Bakken operations, production:

  • Maintains third place in US but with a third of the rigs New Mexico (the #2 state) requires

Bakken operations, density:


Top prediction made in 2022 for 2023:

  • EVs will destroy a lot of investors, severely harm several manufacturers (unchanged from last year)

Record initial production:

Biggest story in takeaway capacity:

  • Freeport LNG taken off line; huge drop in price of natural gas

CBR:

  • Non-story in 2022

Pipeline:


Fracking:


Flaring:


Natural gas:

  • Bakken continues to set production records, month-after-month;

Refining:


Investment story of the year:

  • Crypto crushed
  • Historic Fed rate increases; much faster than expected


The "other" Williston Basin formations:

  • Nothing.

Bakken economy:

New (or better-understood) oil patch jargon:


Miscellaneous:

Bakken economy -- Williston Economic Development (WED) top ten stories:

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