Locator: 44497B.
Breaking: CEO, UnitedHealthCare, a division of UNH, assassinated in NYC just ahead of the UNH's investor day. Breaking. No official statement yet. Assassin fled on foot. NYC. Source. Everything needs to be fact-checked. Later, from NYTimes:
GDP Now, link here:
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Back to the Bakken
WTI: $70.29.
Thursday, December 5, 2024: 9 for the month; 113 for the quarter, 644 for the year
- None.
- 40759, conf, Slawson Exploration, Fish Finder 5-21-9H,
- 39747, conf, Hess, RS-F Nelson-156-92-2413H-2
- 39590, conf, Grayson Mill, Niles 19-22F 4H,
- 39589, conf, Grayson Mill, Niles 19-22F 3H,
- 39588, conf, Grayson Mill, Niles 19-22F 2H,
- 33973, conf, Enerplus, Titanium 147-93-16A-21H,
RBN Energy: falling oil prices erode E&P profits, dampen outlook for production boost.
Boosting America’s hydrocarbon output was a major plank in the 2024 Republican platform, and Donald Trump’s recent victory has stimulated a lot of optimism about the U.S. upstream sector. The nomination of Liberty Energy CEO Chris Wright as Energy Secretary confirmed that “drill, baby, drill” will be a mantra in the new administration. However, over the past few years, U.S. producers have dramatically shifted their focus from growth at any cost to strict financial discipline focused on maximizing free cash flows and shareholder returns. In today’s RBN blog, we analyze the Q3 2024 results of the major U.S. E&Ps we follow and look for early clues about how their senior executives might react to the renewed federal enthusiasm to rapidly accelerate drilling.
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