WTI At $82 -- January 23, 2023

BKR: earnings out. Missed on top and bottom line but shares holding in pre-market trading. In fact, now moving up.

Anticipation: CVX. 

Timely: Nvidia to win big from ChatGPT hype. NVDA already moved last Friday. My last big post yesterday.

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Back to the Bakken

The Far Side: link here.

Active rigs: link here.

WTI: $82.15. Up 0.6%; up 51 cents to start the week.

Natural gas: $3.440. Up 8.4%; up 27 cents.

Tuesday, January 24, 2023: 54 for the month; 54 for the quarter, 54 for the year
38999, conf, Hunt, Alexandria 161-100-24-13H-3,
38889, conf, Koda Resources, Stout 2918-3BH,
38888, conf, Koda Resources, Stout 2918-4BH,

Monday, January 23, 2023: 51 for the month; 51 for the quarter, 51 for the year
38998, conf, Hunt, Alexandria 161-100-24-13H-3,
38997, conf, Slawson, Blizzard Federal 1-13H,
38732, conf, Hess, EN-Neset-156-94-1819H-1,
31325, conf, Oasis, Slagle 5101 41-12 2B,

Sunday, January 22, 2023: 47 for the month; 47 for the quarter, 47 for the year
None.

Saturday, January 21, 2023: 47 for the month; 47 for the quarter, 47 for the year
39012, conf, Kraken, Wilhelm 16-21 5H,
30868, conf, Prima Exploration, Smokey Bear State 3H,
27898, conf, CLR, Jersey FIU 15-6H,

RBN Energy: US LNG, underground storage help save Europe from another tough winter. [But at wwhat expense? Deindustrialization?]

With the war in Ukraine ongoing and Europe largely cut off or quitting Russian natural gas imports, many feared that global gas prices would skyrocket this winter, but prices have fizzled out instead and are at their lowest level since September 2021. That’s not to say gas prices are low, as they are still well above historic norms and high enough to incentivize LNG imports and the development of future LNG capacity. But despite losing its largest gas supplier, and prices running up in the months ahead of this winter, Europe appears to be in much better shape than it was last winter and gas prices have been relatively calm and on the downswing. So why is that? The difference between this winter and last largely boils down to storage inventories and the ability to attract LNG cargoes. In today’s RBN blog, we look at the European gas market, the impact of U.S. LNG supplies, and what it all means for developing LNG projects.