A Pleasant Surprise -- WTI Trending Toward $80 -- Vicky Hollub (OXY) Says $40 Is What They Need To "Protect" Dividend -- February 28, 2024

Locator: 46929B.

Politics: NYC mayor now calls for an end to "sanctuary city" status. That's too bad. If you're a newly arrived undocumented tourist bent on crime to pay for living expenses, would you prefer to stay in Texas where you know you will end up in jail, or elect to take a state-paid-for bus trip or plane trip to a sanctuary city that offers you free room and board -- particularly if you can come up with a "family"? If one can't connect the dots, perhaps this will help: "human trafficking."

Politics: Mitch McConnell to step down in November, 2024. 

Media: Google's Gemini blunder shows how seriously bad this can go. Even ChatGPT is incredibly susceptible to manipulation.

Random look at dividends for three oil-related companies of interest:

• ENB:
• $0.6796
• since 1988, only one time has ENB's dividend been higher ($0.6896, May, 2021)
• EPD:
• $0.515
• have to go all the way back to 2014 when it was higher, but I wonder if there wasn't a stock split at the time
• yup, a stock split, August, 2014
• so, EPD's dividend is at an all-time high
• SRE:
• after recent stock split, raised from $0.595 to $0.62, ex/eff date 3/20/24
• I believe this is also an all-time high

**********************************
Back to the Bakken

WTI: $79.22.

Thursday, February 29, 2024: 82 for the month; 141 for the quarter, 141 for the year
40090, conf, CLR, Gibb 7-24H1,
40005, conf, Neptune, Wahlstrom 34-27 7H,
40004, conf, Neptune, Wahlstrom 34-27 6H,
40003, conf, Neptune, Wahlstrom 34-27 5H,
39490, conf, Oasis, Allen 5197 44-36 6B, Oasis wells are tracked here;
39489, conf, Oasis, Allen 5197 44-36 5B, Oasis wells are tracked here;
39488, conf, Oasis, Allen 5197 44-36 4B, Oasis wells are tracked here;
39487, conf, Oasis, Allen 5197 44-36 3B, Oasis wells are tracked here;
39486, conf, Oasis, Allen 5197 44-36 2B, Oasis wells are tracked here;
38700, conf, CLR, Gibb 6-24H,
38640, conf, Hess, GO-Knudson-156-97-20017H-2,
37671, conf, Enerplus, Kudu 149-94-36D-35H, Phaelens Butte, tracked here;
36275, conf, Enerplus, Sturgeon 149-94-36D-25H-TF, Phaelens Butte, tracked here;

Wednesday, February 28, 2024: 69 for the month; 128 for the quarter, 128 for the year
40027, conf, Dakota Gasification, Coteau 6,
40009, conf, Slawson, Thor 5-31-30H,
39940, conf, Koda Resources, Stout 2004-4BH,
39939, conf, Koda Resources, Stout 2004-3BH,
37488, conf, CLR, Gibb 5-24H,
36274, conf, Enerplus, Salmon 149-94-36D-25H-TF,

RBN Energy: Louisiana court ruling gives Formosa Petchem's Sunshine Project a ray of hope.

It’s been nine years since Formosa Petrochemical filed its first permit applications for a proposed $9.4 billion petrochemical complex in Louisiana and, while the greenfield project has faced legal setbacks, it recently posted an important win and may — emphasis on may — eventually make it across the finish line. The Sunshine Project would be massive and consequential, with two steam crackers each capable of consuming 75 Mb/d of ethane, a big propane dehydrogenation (PDH) unit and a number of other petchem production facilities that together would employ more than 1,200. In today’s RBN blog, we’ll look at the project and its long and winding road toward potential construction and startup.