Wednesday, February 22, 2023

Eagle Ford: tracked here. UK-based INEOS enters. Paid $40,000 / flowing BOE. Way overpaid. Way. But bullish for sector. Also a reminder how much Brits are paying (willing to pay) for natural gas.

Tesla: huge win for Biden. For which he will get no credit. Biden scored three huge MAGA bills last year. Previously posted and a recurrent theme on the blog.

 

Southern surge: Biden will take another page from the Trump playbook.

Global oil demand: boosted by 36% by MS.  

 

Kraken: nickname for newest Covid strain. 

AMZN: completes One Medical acquisition. FTC opted not to weigh in on this one. Primary-care provider. FTC could still bring a case to unwind the deal at a later point. $4 billion deal. 

Ukraine: GOP lines up behind Russians. That's the opinion of many. Right, wrong, indifferent ... that's the optic. Mainstream media will run with this if ...

Buttigieg: sometime ago I posted this. I was absolutely correct but for the wrong reasons ... LOL  -- well, at the least the part about the "most visible...."  I honestly have to think to name one other member of the Biden cabinet. Whether he ends up the strongest, depends.

Democrat presidential slate starting to line up:

• I had a post about this not too long ago;
• now, add a new contender; from Powerline.
• it looks like Pete Buttigieg could end up as strongest, most visible member of Biden's cabinet

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Back to the Bakken

Active rigs: 47.

Peter Zeihan newsletter.

WTI: $74.90.

Natural gas: $2.183.

Wednesday, February 22, 2023: 62 for the month; 133 for the quarter, 133 for the year
39095, conf, Kraken, Sidney LE 29-32 12TFH, Burg, no production data
39091, conf, CLR, Colette 3-18H, Dollar Joe, no production data,
37417, conf, Petro-Hunt, Blikre 158-93-6B-7-3H,

RBN Energy: oilfield service results, projections reflect E&P spending patterns.

Punxsutawney Phil presaged six more weeks of winter when he saw his shadow on February 2, 2023, the famous groundhog’s annual attempt to predict the arrival of spring that garners national headlines, despite his dismal 39% success rate over the last 150 years. Although we haven’t turned to rotund rodents, we spend a lot of time exploring ways to predict energy industry trends. A far more reliable way to gain early insights into E&P spending and production patterns is by analyzing the year-end results and forecasts issued by the major oilfield services firms, which release their year-end reports well before E&Ps typically do. In today’s RBN blog, we review the data and insights from the reports and conference calls of the major firms that are in constant communication with the major oil and gas producers.