Big Story Today -- Russia -- February 10, 2023

Big story today: Russia announces an immediate 500,000-bopd cut in production.

• why Russia cut production (my hunch: she missed the real reason);
• OPEC+ has no plans to react to Russia's surprise production cut (headline error?)
• did this affect WTI? Not really.
  

Streaming wars: Disney, Hulu -- shift? See "streaming wars."

Lyft: implodes. CNBC anchor suggests:

• Lyft:Uber::INTC:AMD

Eggs, from Peter Zeihan:

Inflation takes no prisoners, but we may have another source to thank for this...avian influenza, aka bird flu. This resulted in a massive loss of chickens and the culling of herds to prevent further infection. And can you guess how you get more chickens?

You have to hold back some of your eggs, and then you have to wait...and then raise the chickens (for 2-6 months) to the point where they can start producing eggs. Unfortunately for us, this is how almost everything works in agriculture. You can't just build a facility and start producing wheat overnight, you have to account for an entire production cycle.

Now take this framework and apply it to the Ukraine War. What happens when the fifth-largest exporter of wheat, the fourth-largest exporter of corn and the largest exporter of seed oils goes offline? The world's going to have bigger problems than egg prices...

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Back to the Bakken

Active rigs: 46.

Peter Zeihan newsletter.  

WTI: $78.78.

Natural gas: $2.468.

Sunday, February 12, 2023: 32 for the month; 102 for the quarter, 102 for the year
39008, conf, CLR, Rhonda 9-28H,
36829, conf, BR, Three Washers 2E TFH-ULW,
36828, conf, BR, Three Rivers 2D MBH,
36827, conf, BR, Three Rivers 2C TFH,
36826, conf, BR, Three Rivers 2B TFH,
36825, conf, BR, Three Rivers 2A MBH

Saturday, February 11, 2023: 26 for the month; 96 for the quarter, 96 for the year
39009, conf, CLR, Rhonda 8-28H1,
38427, conf, Hess, HA-Dahl-152-95-0706H-8,
38165, conf, Hess, BB-Budahn-150-95-0506H-8, Blue Buttes.

Friday, February 10, 2023: 23 for the month; 93 for the quarter, 93 for the year
None.  

BB-Budahn wells: tracked here. 

Three Rivers wells: tracked here.

HA-Dahl wells: tracked here.

RBN Energy: here we go, it's not going to be a cake walk. For CCS projects, storage risks require decades of monitoring. Archived.

When carbon dioxide (CO₂) is captured and stored deep underground, a process known as carbon capture and sequestration (CCS), it’s supposed to remain there permanently. Although much of today’s emphasis is on moving carbon-capture projects from aspirational to operational, there are long-term challenges to making sure those emissions stay put away for good, even if the odds of a significant leakage are considered remote. In today’s RBN blog, we look at the common risk factors for carbon-capture projects, explain why a site’s post-injection care-and-monitoring period can last for several decades, and detail the leakage risks that project planners must be prepared to handle.