Four Wells Coming Off The Confidential List -- WTI Sinks -- May 3, 2023

Locator: 44523B. 

ICYMI: Nordstrom is closing two stores in downtown San Francisco due to theft, safety issues. San Francisco Chronicle in a panic.

Anticipation: CRC.

Geico Rock Award nominee: George Skelton, link here.

Wow, I'm in a great mood. Short bike ride; gave me time to think. #1 on my list: tweak my investment new-money allotment for the next six months. Won't churn; won't sell anything, but will change allotment from 40-30-20-5-5 to 90-5-5- for next six months. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

Investing. Most interesting stories right now, some of which I might cover in greater detail later but unlikely.

• Putin's War: both sides are now "deep" into body counts. That's always a bad sign, as the US learned in Vietnam.
• banking: how AAPL changed things overnight; 
• Schwab scrambling?
  
• EVs: multiple stories --
• Ford cuts the price of its electric Ford Mustang -- never a good sign
• Tesla: still no pickup?
  
• major surprises, or where I've been wrong
• BUD: this story has legs; very, very surprising; it's counterintuitive but the LGBQT community won this war
• Russian oil: I was 1000% sure that by now Russia's oil sector would be "on the ropes"; Russia's ability to produce oil, export oil, ship oi, deliver oil under these circumstances is stunning
• Saudi must be in a panic

 And, that's it. I guess that's all that fascinates me right now.

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Back to the Bakken

Active rigs: 42.

WTI: $69.62.

Natural gas: $2.177.

Peter Zeihan newsletter.

Thursday, May 4, 2023: 8 for the month; 60 for the quarter, 315 for the year
38856, conf, Whiting, Littlefield 11-21-2HU,
36401, conf, WPX, Skunk Creek 4-24-26-16HU,
 
Wednesday, May 3, 2023: 6 for the month; 58 for the quarter, 313 for the year
39261, conf, Hunt, Cook 146-93-24-13H6,
39260, conf, Hunt, Cook 146-93-24-13H5,
36404, conf, WPX, Skunk Creek 4-244-25-13H3,
31211 (no typo), conf, BR, Gladstone 6-1-13MBH,

RBN Energy: why did propane production sag, and when is it coming back?

U.S. propane stocks are high, 33% over the 5-year average. Year-to-date propane exports are at a robust 1.6 MMb/d, well above the 1.4 MMb/d shipped out in 2022. Increasing propane production must be driving the growth in inventories and exports, right? Nay! Propane production is actually down, falling 9% from September 2022 to December, and even with meager growth this year is still 3% below the September high. So where are the propane export and inventory barrels coming from? And what does this mystery reveal about the trajectory of propane production over the next year or two? In today’s RBN blog, we do some sleuthing and come up with some answers.