CA ISO price map link here.
Monday, December 19, 2022
Uniper -- German Coal -- Nationalized? December 19, 2022
From wiki:
Uniper SE is an energy company based in Düsseldorf, Germany.
The name of the company is a portmanteau of "unique" and "performance" given by long-term employee Gregor Recke.
Uniper was formed by the separation of E.ON's fossil fuel assets into a separate company that began operating on 1 January 2016
The company employs about 11,000 employees in over 40 countries.
Around one third of the employees are based in Germany. It owns a subsidiary company in Russia called Unipro. Uniper is listed at the Frankfurt Stock Exchange. The company has faced criticism for opening new coal-fueled power plants in Germany as recently as May 2020
Uniper was one of the financiers of the Nord Stream 2 project, which the German government suspended after the 2022 Russian invasion of Ukraine.
What now? Link here:
Breaking:
Dire Warning -- Saudi Aramco -- December 19, 2022
Dire: link here.
I honestly don't understand about what Saudi Aramco is so worried, unless they feel the price of oil is too low and it needs to be higher.
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Avatar
The way the market is performing, Avatar could have had a "blow-out" opening and DIS would have still fallen. In fact, Avatar did quite well; someone (or someones) just over-hyped it. Having said that, it's gonna take a lot of money to breakeven. But. Whatever.
Breaking: Title 42 -- US Supreme Court Steps In -- Temporary Injunction -- 5:30 P.M. CT -- December 19, 2022
More to follow.
Again, it looks like Trump was doing the right thing, at least in the eyes of many.
I had forgotten the reason this was put in place the first place.
I have flipped-flopped so many times on this issue. All I can say: it's no longer an "emotional" issue for me.
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Back to the Bakken
Active rigs: 43.
WTI: $75.65.
Natural gas: $5.850.
Seven new permits, #39503 - #39509, inclusive:
- Operators: Oasis (4); CLR (3)
- Fields: Rosebud (Williams); Dollar Joe (Williams)
- Comments:
- Oasis has permits for four Pocono wells, NWSE 4-153-102;
- to be sited between 2025 FSL and 2155 FSL and between 2335 FEL and 2371 FEL;
- CLR has permits for three Vance wells, NWNE 14-155-97;
- to be sited 300 FNL and between 2200 FEL and 2335 FEL
Nine permits renewed:
- MRO (3): one Regina USA; one Whitney USA; and, one Alvina USA all in Dunn County;
- Foundation Energy (2): two Audrey permits in Golden Valley;
- Slawson (2): one Bazooka and one Rebel Federal permit, both in Mountrail;
- Petro-Hunt (2): two Terres permits in Dunn County;
One permit canceled:
- 38958, PNC, Koda Resources, Stout 1604-2BH, Williams County
One producing well (a DUC) reported as completed:
- 36626, 1,225, XTO, Haustveit 42X-10DXA, Williams County;
Director's Cut -- October, 2022, Data
Director's Cuts are tracked here.
Wells offline for operational purposes tracked here.
Director's Cut -- October, 2022, data:
- Oil production: 1,120,940 bopd.
- Natural gas: 3,143,619 MCF / day.
Wells permitted:
- November: 88
- October: 77
- September: 65
DUCs:
- October: 489
- September: 474
Inactive:
- October: 1,885
- September: 1,447
Completed:
- November: 58 (preliminary)
- October: 54
- September: 81
Producing:
- October: 17,787 (preliminary)
- September: 17,769
Rouble Plunges -- December 19, 2022
From yesterday, the stories that we would be talking about this week:
Russian sanctions working. Beyond all expectations.
Covid -- China --Pfizer -- December 19, 2022
Folks forget why the US went to lock downs in 2020 in the first place. Maybe this will remind folks.
PFE:
- down 0.3% today; down 16 cents; trading at $51.24.
F-150 Lightning -- Jump In Price -- ZeroHedge -- December 19, 2022
The base version of the Ford F-150 Lightning electric pickup now starts at $56,000, more than 40%, or about $15,000, over its original listing price earlier this year, according to Electrek. Ford hiked prices in August and October.
Electrek discovered the stealth price hike after visiting the order page of the Detriot-based automaker's website. The configuration and base price of all EV Lightning variants is shown below.
"Interestingly, the prices of the other versions of the F-150 Lightning haven't increased with this update. The cheapest way to get a Lightning with the longer-range extended battery pack is still the XLT, starting at $81,000," Electrek said.
There was no explanation by Electrek or Ford about the price hike. However, we pointed out several days ago that lithium-ion battery packs jumped in price for the first time since BloombergNEF began tracking.
Tickers:
- TSLA: down $2.00; trading at $148.
- RIVN: up slightly; trading at $22.52.
- LCID: up 4%; trading at $7.10
- RIDE: down 8%; trading at $1.20
21st Century: America's Century (Again) -- This Time -- Energy -- December 19, 2022
America's century: link here.
HOUSTON (Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.
Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bpd), with exports of about 3 million bpd of refined products like gasoline and diesel fuel. The United States is also the leading liquefied natural gas (LNG) exporter, where growth is expected to soar in coming years.
But the United States consumes 20 million barrels of crude a day, the most in the world, and its output has never exceeded 13 million bpd. Until recently, the idea that it would be anything but a big crude importer was folly.
Last month, U.S. government data showed net U.S. crude oil imports fell to 1.1 million barrels per day (bpd), the lowest since record keeping began in 2001. That is down sharply from five years ago, when the United States imported more than 7 million barrels per day.
RBN Energy: Sempra will soon expand its LNG export capacity with Port Arthur LNG, part 5. Archived.
Much more at the link.Thanks to a warm start to the season and low Asian demand for LNG, Europe has so far been able to stave off a worst-case scenario for natural gas supply this winter. Still, the European market is keeping a keen eye on the years ahead, when the continent will need to rely on new sources of LNG to meet demand and refill inventories with little chance of any Russian gas. The call for more LNG has ushered in a new wave of export-project development, with two U.S. projects reaching a positive final investment decision (FID) this year and LNG offtakers in Europe and elsewhere committing to an incredible 37 MMtpa (4.9 Bcf/d) of long-term contracts from pre-FID sites in North America. This momentum has revived a number of projects from the COVID-induced wasteland, including Sempra’s Port Arthur LNG. In today’s RBN blog, we continue our series on U.S. LNG projects by taking a closer look at Port Arthur, the one most likely to take FID next.
So far in this series we’ve looked at four different U.S. projects. Two of them — Plaquemines LNG and Corpus Christi Stage III, the subjects of Part 1 and Part 2 — have both now taken FID. In Part 4, we discussed NextDecade’s Rio Grande LNG, which closed multiple sales and purchase agreements (SPAs) over the summer and has now sold 75% of its Phase 1 capacity. NextDecade, which is still securing offtakers and financing for the project, raised $85 million in September through a private placement equity sale. Although taking perhaps a little longer than expected, the project remains likely to move forward at this point.
If you’re thinking, “Hey, you skipped Part 3,” there’s a reason for that. That blog covered Tellurian’s controversial Driftwood LNG, which at the time had already begun construction despite not having secured full financing. Since then, Tellurian and Driftwood publicly suffered a major setback after losing two of the project’s three offtakers and rescinding a bond offering due to lack of interest. But Tellurian’s drama has more to do with its project structure than the wider LNG market environment, and other projects continue to see support and make progress toward FID, including the project we’re looking at today, Port Arthur, which in the past few months has leap-frogged several other projects in development and is closing in on FID in the next few months.
Sempra already owns and operates Cameron LNG in Louisiana and has the first-ever Mexican LNG export terminal, ECA LNG, which is now under construction, with first LNG expected in 2025. The company also has a number of other projects under development, including another Mexican project, Vista Pacifico LNG, and potential expansions of Cameron and ECA. Port Arthur has been in development for a number of years and received Federal Energy Regulatory Commission (FERC) authorization in April 2019. Sempra had a non-binding equity agreement with Saudi Aramco for a 25% stake in the project and 5 MMtpa (660 MMcf/d) of LNG underpinning Port Arthur’s development but that deal fell apart in 2021. Shortly after, the terminal’s only other customer, PGNiG, also pulled out of its offtake agreement and Sempra paused development on the project. At the time, Sempra was re-evaluating its LNG strategy and project designs. It redesigned the Cameron expansion, necessitating further FERC permitting. That project is likely to move forward eventually, but with the FERC permits pending, Sempra turned back to Port Arthur, focusing on a two-train approach that will enable exports of up to 13.5 MMtpa (1.8 Bcf/d) of LNG, and is now closing in on FID. Sempra has said it is targeting about 10 MMtpa (1.3 Bcf/d) of long-term contracts for Phase 1.
Twelve Wells Coming Off Confidential List This Weekend; WTI Up 2% To Start The Week -- December 19, 2022
Avatar: at the end of the day (the weekend in this case), Avatar actually did quite well. Link here.
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Back to the Bakken
The Far Side: link here.
Active rigs: 43.
WTI: starts the week up 2%; up $1.47; trading at $75.76.
Natural gas: $6.053.
Tuesday, December 20, 2022: 54 for the month, 163 for the quarter, 707 for the year.
38985, conf, CLR, Kiefel 2-36HSL,
37700, conf, BR, Ole 5-1-29TFH,
Monday, December19, 2022: 52 for the month, 161 for the quarter, 705 for the year.
39021, conf, Kraken, King LE 8-5-32 11H,
39004, conf, Slawson, Cannonball Federal 3 SLH,
38935, conf, CLR, Roxy 9-31HSL1,
Sunday, December 18, 2022: 49 for the month, 158 for the quarter, 702 for the year.
39022, conf, Kraken, King 8-5-32 4H,
39003, conf, Slawson, Lunker Federal 7-33-4TFH,
38936, conf, CLR, Roxy 8-31H,
37895, conf, Enerplus, Gallium 147-93-17A-20H,
37894, conf, Enerplus, Osmium 147-93-17B-20H,
39023, conf, Kraken, King 8-5-32 3H,
39002, conf, Slawson, Lunker Federal 6-33-4TFH,
38937, conf, CLR, Roxy 7-31H1,
38862, conf, Sinclair, Hovden Federal 2-20H,
RBN Energy: Sempra will soon expand its LNG export capacity with Port Arthur LNG, part 5. Archived.
Thanks to a warm start to the season and low Asian demand for LNG, Europe has so far been able to stave off a worst-case scenario for natural gas supply this winter. Still, the European market is keeping a keen eye on the years ahead, when the continent will need to rely on new sources of LNG to meet demand and refill inventories with little chance of any Russian gas. The call for more LNG has ushered in a new wave of export-project development, with two U.S. projects reaching a positive final investment decision (FID) this year and LNG offtakers in Europe and elsewhere committing to an incredible 37 MMtpa (4.9 Bcf/d) of long-term contracts from pre-FID sites in North America. This momentum has revived a number of projects from the COVID-induced wasteland, including Sempra’s Port Arthur LNG. In today’s RBN blog, we continue our series on U.S. LNG projects by taking a closer look at Port Arthur, the one most likely to take FID next.