Six Wells Coming Off Confidential List Over Weekend -- September 11, 2023

Locator: 45605B.

 Focus on Fracking: link here.

• oil price hits 10 month high; 
• US commercial oil supplies​ and gasoline supplies both at ​nine month low​s; 
• total domestic oil supplies, including SPR, at a ​new 38 year low​

WTI: $87.02.

Monday, September 11, 2023: 77 for the month; 279 for the quarter, 524 for the year
None.

Sunday, September 10, 2023: 77 for the month; 279 for the quarter, 524 for the year
39673, conf, Hydra Services, SWD,
39030, conf, Liberty Resources, Temple 159-96-36-25-3MBH,

Saturday, September 9, 2023: 75 for the month; 277 for the quarter, 522 for the year
39067, conf, Hess, TI-Fossaa-158-94-1819H-2,
38901, conf, Whiting, Snowshoe Federal 31-30-2H,
38899, conf, Whiting, Snowshoe Federal 31-30-4H,
37927, conf, BR, Parrish 2C MBH,

RBN Energy: E&Ps assume debt to sustain shareholder return as cash flow falls.

What a difference a year makes! The summer of 2022 was a golden age for U.S. E&Ps that embraced a dramatic shift in their business model from prioritizing growth to a focus on maximizing cash flows and emphasizing shareholder returns. Oil prices over $90/bbl and gas prices hovering about $7/MMBtu filled their coffers and funded lavish increases in share repurchases and dividends. But those golden days quickly faded as oil prices retreated and gas prices plunged 66% to just above $2/MMBtu. In today’s RBN blog, we explain how E&Ps are scrambling to sustain shareholder return programs in the face of shrinking cash flow.