WTI Hits $82 And Not Yet Mentioned By CNBC, Not Even On The Crawler -- June 20, 2024

Locator: 47838MUSIC.

Hyperscaler: I just turned on CNBC one minute ago, and so far, "hyperscalers" has been said three times, once with Broadcom. 

Goldilocks economy: booming. See unemployment numbers released this morning. 

Goldman Sachs: updates its conviction list. Link here. Edwards Lifesciences, Enphase Energy, Sempra Energy, Teradyne, Brixmore Property Group.

New record highs: NASDAQ and S&P 500. It never quits. Having said that, folks comparing this to the 2000 dot-com bubble have no idea what they're talking about. What's going on now is way different than what was going on in 2000.

TSM; up over $2.00 already early this morning. A year ago the GOAT was selling his short-lived TSM position:

Global politics - UK: link here.

• UK conservatives, UK PM Sunak facing landslide defeat? 

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Back to the Bakken

WTI: $82.27.

Friday, June 21, 2024: 69 for the month; 133 for the quarter, 332 for the year
39891, conf, Hess, EN-Madisyn-LE-154-94-07-5H-7,

Thursday, June 20, 2024: 68 for the month; 132 for the quarter, 331 for the year
None.

RBN Energy: why oil, gas, and NGL infrastructure investment is soaring while production growth is flat.

There’s never been any reason to question the drivers for energy infrastructure development — until now. Historically, the drivers were almost always “supply-push.” The Shale Revolution brought on increasing production volumes that needed to be moved to market, and midstreamers — backed by producer commitments — responded with the infrastructure to make it happen.

But now things seem to be different. U.S. energy infrastructure investment is soaring across crude oil, natural gas and NGL markets and, as in previous buildouts, midstreamers are bringing on new processing plants, pipelines, fractionators, storage facilities, export terminals and everything in between. We count nearly 70 projects in the works.

But crude production has been flat as a pancake, natural gas is down, and lately NGLs are up — but as you might expect, only in one basin: the Permian. So what is driving all the infrastructure development this time around? In today’s RBN blog, we’ll explore why that question will be front-and-center at our upcoming School of Energy: Catch a Wave. Fair warning, this blog includes an unabashed advertorial for our 2024 conference coming up on June 26-27 in Houston.