Locator: 49086B.
Breaking: some reports that the "Kirk shooter" has been captured; not confirmed; far two previous "people of interest" interviewed and released. Apparently confirmed. Link here. FBI / Kash Patel --kudos. Yes, Utah has the death penalty. And Utah was the first state to bring back the death penalty after the moratorium.
Add Kash Patel to Tier 1:
WTI: up almost 2% today; up $1.24; trading at $63.61.
Clean hydrogen: IEA slashes clean hydrogen production forecast. Link here.
Oracle's: poor-man's Palantir. LOL. Pointed out on the blog some time ago. From Beth yesterday.
Cramer's first hour:
- All about Corning today?
- Cramer meets Tim Cook in Harrodsburg, Kentucky! Exclusive by CNBC.
- with all the news going on in the investing world, David Faber is absolutely fascinated with the Ellisons, Paramount Skydance, and Warner Bros Discovery.
- Cramer has so much to offer, and David Faber spends first 30 minutes of Cramer's first hour on Paramount -- wow, it gets tedious.
- again, CNBC seems to concentrate on about 20 stocks, day-in, day-out
- second company after Corning, Apple that Cramer mentions: Micron.
- back to Corning: what most jumped out at me: the factory has no humans working in it; the Corning CEO, Tim Cook, and Jim Cramer live -- with not one human working in this factory. oh, there I just saw one human way in the background
- mentions Ceramic Shield; glass front and back; currently iPhone Air only but eventually all iPhones; simply waiting for Corning being able to catch up -- now, we're starting to see a few humans walking aimlessly around the facility
- Corning up huge in early trading: up almost 3%
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Back to the Bakken
WTI: $63.61.
New wells:
- Sunday, September 14, 2025: 22 for the month, 115 for the quarter, 555 for the year,
- 39741, conf, Grayson Mill, Darlene 13-24F 4H,
- Saturday, September 13, 2025: 21 for the month, 114 for the quarter, 554 for the year,
- 41518, conf, MRO, Patton 44-12H,
- Friday, September 12, 2025: 20 for the month, 113 for the quarter, 553 for the year,
- 41519, conf, MRO, Partridge 41-13H,
- 40691, conf, Petro-Hunt, Wollan Creek 152-96-34D-27-2H,
- 40359, conf, Hess, BL-Davidson-155-96-0211H-9,
- 39742, conf, Grayson Mill, Darlene 13-24F 5TFH,
RBN Energy: NGL markets relying on the Permian ask, what if crude production is peaking?
OPEC+ is ramping up production, WTI is hanging below $65/bbl, and Permian crude oil production growth has slowed to a crawl, raising the question of whether oil output in the U.S.’s #1 shale play might, in fact, be peaking. That’s making some folks on the NGL side of things a little skittish. They’re wondering what a leveling off — or an outright decline — in Permian crude production would mean for associated gas and the volumes of Y-grade being piped to Mont Belvieu and other fractionation hubs. In today’s RBN blog, we discuss a new model that forecasts Permian NGL production under a variety of scenarios.
The Shale Revolution initiated a golden age for U.S. NGLs. Sure, domestic crude oil production has increased by more than 160% since 2008 and natural gas output has nearly doubled, but the volume of mixed NGLs (aka Y-grade) produced at U.S. gas processing plants has quadrupled, from 1.8 MMb/d 17 years ago to 7.3 MMb/d today. And that massive gain in NGL production spurred an unprecedented buildout in NGL-related infrastructure — processing plants, of course, but also Y-grade pipelines, salt-cavern storage capacity, fractionators and NGL export terminals. (See our Drill Down Report on this topic for a summary and our recent Don’t Stop blog series and weekly NATGAS Permian report for updates.)
Here’s another important fact: The Permian is the undisputed king of NGL production, accounting for more than 40% (or about 3 MMb/d; blue layer in left graph in Figure 1 below) of the total NGL volumes produced in the U.S. Not only does crude-oil-focused drilling in West Texas and southeastern New Mexico generate vast amounts of NGL-saturated associated gas, but over time the Permian’s gas-to-oil ratio (GOR) has been increasing (middle graph). And so has the Permian’s gallons-per-Mcf (GPM) number, which measures the gallons of mixed NGLs entrained with each thousand cubic feet of associated gas emerging from wells there (right graph).
Figure 1. Permian NGL Production, Gas-to-Oil Ratio and Gallons-per-Mcf. Source: RBN
As you would expect, a wide range of market players are counting on continued growth in Permian NGL production, including the owners and operators of gas processing plants, NGL pipelines, fractionators, and ethane and LPG export terminals, many of which continue to make big-dollar investments in new infrastructure. And, as we at RBN know firsthand, some of these same companies have been expressing concern that the production growth they’ve been banking on may be undermined by less favorable WTI pricing and a prospective slowdown in Permian drilling-and-completion activity.
