Locator: 48704B.
Measles outbreak in Texas: starting to burn itself out. Link here.
Nvidia's long coat-tails: futures don't mean squat but nonetheless, it is what it is --
California bullet train: losing support from more and more California politicos. Most will be dead or out of office by the time the first significant leg is even running. Link here. Newsom's reason for keeping it: "too late to cancel." Wasn't that the British attitude in WWI? We've spent too much to quit now.
Paramount willing to settle for $15 million to settle CBS suit with President Trump. Trump's team wants $25 million+. The art of negotiation.
Driftwood LNG has a new name: Louisiana LNG. Yeah, that's the name: Louisiana LNG. Link to David Messler over at oilprice.
Woodside Energy, (NYSE:WDS), Australia’s largest energy operator, has moved into the North American LNG market in a big way over the last 6-9 months.
Beginning with its take-out of troubled LNG startup, Tellurian last fall, the company has moved at breakneck pace to move the fully permitted Driftwood LNG project along to FID.
Just last month Woodside stunned the investing community by announcing FID approval for the first three trains of the 27.6 mpta Driftwood, now renamed Louisiana LNG.
This is a bold move for this Australian energy producer that will bring on-line 16.5 mpta. From a press release, from the CEO:
“Louisiana LNG is a game changer for Woodside, set to position our company as a global LNG powerhouse and deliver enduring shareholder value for decades to come. Louisiana LNG combines access to an abundant US gas resource, a prime location with best-in-class EPC and technology partners. It builds on Woodside’s proven strengths in project execution, operational excellence, and LNG marketing to deliver significant cash generation potential and drive long-term shareholder value."
But look at this:
Some challenges remain as only about 1 mpta of the plant’s approved 16.5 mpta output has been placed under long-term SPA’s (Sales and Purchase Agreement), in a contract with Uniper-a, a German utility company.
Other recent U.S. Gulf Coast LNG plants, notably Venture Global, and NextDecade, took the route of selling out 2/3 of their capacity before taking FID.
By moving forward and entering the market in the late 2020s, WDS can leapfrog other potential projects and corner the market for supply gas.
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Back to the Bakken
WTI: $61.97.
Active rigs: 33.
Five new permits, #41959 - #41963, inclusive:
- Operators: Kraken (4); Petro-Hunt.
- Fields: Boxcar Butte (McKenzie County); West Ambrose (Divide County)
- Comments:
- Petro-Hunt has a permit for a State well, NENW 16-162-100;
- to be sited 352 FNL and 2078 FWL;
- Kraken has permits for four Charity wells, SWSE 31-148-102 and SESW 31-149-101;
- with three sited 448 FSL and 2571 / 2637 FEL; and one sited 448 FSL and 2607 FWL.
Two permits renewed:
- Formentera Operations, FLX3 (#34950) and PTL4 (#34952).
Producing wells (DUCs) reported as completed:
- 33070, 1,168, BR, Mancord 14-10 MBH-ULW, Dunn County;
- 40780, 1,168, Oasis, Barnes Federal 5202 43-11 4B, McKenzie County;
- 40877, 683, Oasis, Barnes Federal 5202 43-11 5B, McKenzie County;