Two Wells Coming Off Confidential List -- March 28, 2023

Crescent Point to buy Montney assets in $1.28 billion deal. Link here. Or go direct to story. Reuters.

• Spartan Delta Corp assets in Alberta
• average production 38,000 boepd
• $1.28 billion / 38,000 = $34,000 / flowing boepd
• in cash
• 20 years of drilling inventory
• profitable even if WTI drops below $40 / bbl

Merger approved. Link here.

Dividends. Link here.

WBA.

Washington State: still no income tax. 

A lot of money out there. Lego. And more. More here.

SJT.

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Back to the Bakken

Active rigs: 47.

Peter Zeihan newsletter.

WTI: $73.14.

Natural gas: $2.063

Wednesday, March 29, 2023: 88 for the month: 252 for the quarter, 252 for the year
39246, conf, KODA Resources, Bock 32-1 SWD,
39193, conf, CLR, Allen 6-17H,
38439, conf, Hess, EN-Farhart-LW-156-93-0409H-1

Tuesday, March 28, 2023: 86 for the month: 250 for the quarter, 250 for the year
39221, conf, Crescent Point, CPEUSC Samples 4-35-26-159N-100W-MBH-LL,
39194, conf, CLR, Allen 7-17H,

RBN Energy: plans for energy development largely rest on fate of US permitting reform.

If you follow developments in the energy industry, you know that news about permitting for major infrastructure projects can sometimes read more like a horror story: 14 years to build an electric transmission line, a decade to get a mining permit, and the reality that some projects can be constructed in far less time than it takes to secure the required permits and work through any legal challenges. It’s a known problem with a lot of contributing factors, but no easy answers. In today’s RBN blog, we look at how permitting difficulties have become a flashpoint for all sorts of stakeholders — industry groups, environmental advocates, the general public, and politicians of all stripes. Our focus today will be on the current poster child of permitting challenges, Mountain Valley Pipeline (MVP), but we’ll also discuss how permitting setbacks complicate the development of all types of projects, from traditional oil and gas pipelines to initiatives at the heart of the energy transition.

Almost everyone acknowledges the benefit of having interested parties and stakeholders weigh in on major proposals to build or expand infrastructure, whether it be a new highway, an airport runway extension or an interstate oil or gas pipeline. Additionally, credible regulations and appropriate safeguards (such as the Clean Water Act’s focus on protecting the nation’s water supplies) are essential to the process. Still, the reality is that the permitting process for some important, badly needed projects can drag on for three, six or even nine years or longer. And permitting delays not only drive up project costs, they also put additional stress on infrastructure that’s already in place and prevent some projects from ever becoming a reality.