TGIF -- May 17, 2024

Locator: 47171B.

Scottie Scheffler: felony arrest, booked, charges dropped -- resolved within an hour or so. Should be an interesting day in Louisville at the PGA. Update, May 23, 2024, Louisville police have not dropped charges. Second-degree assault of a police officer is a felony in Kentucky, subject to 10 years in prison. I think the issue here, is that with all the confusion, darkness and rain, law enforcement was concerned about the risk of a second fatality.

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Back to the Bakken

WTI: $79.82.

Sunday, May 19, 2024: 26 for the month; 90 for the quarter, 289 for the year
38144, conf, BR, Ole 9-1-29MBH,

Saturday, May 18, 2024: 25 for the month; 89 for the quarter, 288 for the year
39878, conf, Liberty Resources, Overdorf W 158-96-1-12-2MBH,

Friday, May 17, 2024: 24 for the month; 88 for the quarter, 287 for the year
40235, conf, Empire North Dakota, Chinook 32-5 1H,
39405, conf, Whiting, Olson 31-31-3H,
38145, conf, BR, Olebully 8-1-29TFH-ULW,

RBN Energy: E&P balance sheets remain strong despite challenging economic conditions. 

The transition of U.S. E&Ps to capital discipline has led to historic shareholder returns and won back legions of investors who had virtually abandoned the industry until a few years ago. But while it might be tempting to conclude producers must finally have their financial houses in good order, a lot of us have witnessed a few boom-and-bust cycles in our time and remain hypervigilant for any signs of financial instability, especially considering that commodity prices could weaken at any time. In today’s RBN blog, we analyze the impact of lower price realizations and capital allocation decisions on the balance sheets of the major U.S. independent oil and gas producers.