Hess To Report Another Nice Olson Well In Blue Buttes -- September 25, 2024

Locator: 48391B.

S&P, NASDAQ: hover around intra-day highs. Again.

OPEC: struggling

• can't make it on current prices of oil;
• OPEC already talking about add more oil to the global market;
• more oil absolutely not needed;

Utility sector surging: on back of AI requirements. One year:

"European" GDP forecasts: 

• 2024: 1.0%
• 2025: 1.2%

US GDPNow: 

• 3Q24 estimate: 2.9%

EVs: no longer makes financial sense to buy an EV (now that subsidies have been taken away) -- Goldman Sachs analyst. Link here -- a video that's actually worth watching.

GM and Ford: down 4 to 5% in morning trading. 

EV charging: the slow roll-out of the Fed EV charging initiative. Link here.

Tech stocks: having a great day.

CNBC: same ol',' same ol' -- still focused on hard landing, recession, Fed rate cut. Gets tedious.

• never before in history, has the Fed cut rates by 50 basis points and talked positively about the economy;
• and US equity shares at record highs
• link here:
  

Weekly EIA petroleum report:

• steep decline in US crude oil in storage, but still only 5% below historic average (had been 4% for months)
• refiners: 90.9% (on the low side)
• jet fuel supplied up very, very slightly

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Back to the Bakken

Hess completion strategy study: link here.

WTI: $70.55.

Thursday, September 26, 2024: 55 for the month; 183 for the quarter, 507 for the year
40522, conf, Slawson, Fisherman 5-21 28TFH,
39935, conf, Hess, RS-Juma-156-92-1131H-2,
37827, conf, Enerplus, Swift 149-93-10A-15H,

Wednesday, September 25, 2024: 52 for the month; 180 for the quarter, 504 for the year
40562, conf, Slawson, Snoop Alley 6-16-9TFH,
38259, conf, Hess, BB-Olson-150-95-0817H-7, Blue Buttes, tracked here.

RBN Energy: is the consolidation trend ending in British Columbia's Montney gas formation?

British Columbia’s portion of the immense unconventional Montney formation has been the epicenter of Western Canada’s rapidly rising natural gas production in recent years. It should come as no surprise then that it has also become fertile ground for numerous acquisitions of companies — or some portion of their assets — by more nimble and financially stronger gas producers. However, as we discuss in today’s RBN blog, the most recent acquisition by Canada’s largest natural gas producer, Tourmaline Oil Corp., leaves the list of potential targets shockingly short.