Peter Zeihan Is Visiting Fargo; One Well Coming Off Confidential List Today -- February 27, 2024

Locator: 46920B.

SRE: raises dividend 4.2% to 62 cents; prior 59.5 cents. Of record, March 21; payable Ides of March. Raises five-year CAPEX by 20% to $48 billion.

Peter Zeihan: North Dakota's rail system. Peter is in Fargo; wonder if he will head to Montana and pass through the Bakken.

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Back to the Bakken

WTI: $77.35. [Later, mid-day: up 1.65%; up $1.28; trading at $78.86.]

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,

Tuesday, February 27, 2024: 63 for the month; 122 for the quarter, 122 for the year
37487, conf, CLR, Gibb 4-24H1,

RBN Energy: Sentinel-ExxonMobil JV could mean big things for Louisian's raceland hub. Also features a nod to Lana Del Rey.

The Raceland crude oil hub is far from Louisiana’s largest but might be positioned to earn a little more of the spotlight after Sentinel Midstream and ExxonMobil Pipeline formed a joint venture in December to enhance business for a few crude oil pipelines connecting Louisiana hubs, including Raceland.

In today’s RBN blog, we examine the infrastructure and connectivity that makes up the Raceland hub southwest of New Orleans, see how it stacks up against some of its larger cousins in the state — namely, Clovelly and St. James — and discuss why activity at the hub could be poised to pick up steam. 

Louisiana is home to about half a dozen crude oil hubs. Their connectivity to many centers of supply and demand provides the liquidity that traders desire, and that often translates to tradability. At the top of the state’s list of hubs are St. James and Clovelly, both of which are important delivery points for the trading of Gulf of Mexico (GOM) crudes, including regional benchmarks Light Louisiana Sweet (LLS) and medium-sour Mars Blend. A couple of other Louisiana hubs receive familiar grades: GOM-sourced Heavy Louisiana Sweet (HLS) at the Empire hub and medium-sour Poseidon (also from the GOM) at Houma.