Big Day for Wells Coming Off Confidential List -- September 25, 2023

Locator: 45577B.

WTI: $90? It's Monday morning; expect WTI to go negative.

Tuesday, September 26, 2023: 114 for the month; 316 for the quarter, 561 for the year
39595, conf, Neptune Operating, Sigma Lee 14-23 3H,
39569, conf, CLR, Eclipse SWD,
39563, conf, Kraken, Blaine 33-28 2H,

Monday, September 25, 2023: 111 for the month; 313 for the quarter, 558 for the year
39596, conf, Neptune Operating, Sigma Lee 14-23 2H,
37265, conf, Whiting, Borseth 31-15-4H,

Sunday, September 24, 2023: 109 for the month; 311 for the quarter, 556 for the year
39134, conf, Iron Oil Operating, Antelope 4-33-28H,
39133, conf, Iron Oil Operating, Antelope 3-33-28H,
38902, conf, CLR, Astro SWD,

Saturday, September 23, 2023: 106 for the month; 308 for the quarter, 553 for the year
39622, conf, Crescent Point Energy, CPEUSC Ruby 5 20-17-158N-100W-MBH-LLW,
37264, conf, Whiting, Wilson 31-15-3H,

RBN Energy: spurred by interest from Japan and South Korea, clean ammonia projects proliferate.

Clean ammonia, which is produced by reacting clean hydrogen with nitrogen and capturing and sequestering the resulting carbon dioxide (CO₂), is gaining momentum. In just the past few months, several more new clean ammonia production projects have been proposed along the U.S. Gulf Coast, many of them made possible by commitments from Japanese and South Korean companies that see the low-carbon fuel as an important part of the Far East’s future energy mix. Taken as a group, the dozen-plus projects now under development have the potential to produce tens of millions of tons of clean ammonia annually, and to create yet another massive energy-export market for U.S. producers. In today’s RBN blog, we discuss the new projects moving forward — and one being put on hold — and what’s driving the clean ammonia market.

A year and a half ago, in Something to Believe In, we looked at Japan and South Korea’s growing interest in co-firing coal plants with clean ammonia as a way to reduce the plants’ greenhouse gas (GHG) emissions. We emphasized there — and do so again here — that there is a lot of skepticism regarding the outlook for clean hydrogen and clean ammonia as “fuels of the future,” or more specifically about whether these commodities can ever be produced efficiently and cheaply enough — and in sufficient volumes — to result in their widespread use. Also, there’s a lot of concern that co-firing Japanese and South Korean coal plants with clean ammonia would result in only a modest reduction in GHG emissions and would extend the use of coal, which is widely viewed as the dirtiest fossil fuel.