Locator: 51340B.
At the end of the day, the "thing" that the current president hates most ... is to be ignored. Iran negotiating with Oman (and not with the United States) may, indeed, be the worst thing Iran could be doing right now. LOL.
His base: either finish it or get out.
Hell must have frozen over. RFK, Jr.,'s agency, the FDA, has approved the first mRNA flu vaccine. From TNYT:
The Food and Drug Administration on Wednesday approved the first mRNA flu vaccine, enabling use of a technology that will make it easier to rapidly target a widely prevalent or particularly virulent strain of the virus.
Irony:
- eating salad could lead to explosive diarrhea, and for some, death;
- eating steak? Well, at least you won't be getting cyclosporiasis.
- me? I have chorizo for breakfast.
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Back to the Bakken
WTI: $74.8.
New wells reporting:
- Friday, August 7, 2026: 19 for the month, 60 for the quarter, 413 for the year,
- 42090, conf, Phoenix Operating, Big Stone 32-29-20 3H,
- 41434, conf, Whiting, Jefferson Federal 5003 42-14 4B,
- Thursday, August 6, 2026: 17 for the month, 58 for the quarter, 411 for the year,
- 42091, conf, Phoenix Operating, Big Stone 32-29-20 5H-LL,
- 41983, conf, Murfin Drilling, LC Rambousek 1-9H,
- 41277, conf, Oasis, Stepanek 5201 13-18 4B,
- 41276, conf, Oasis, Stepanek 5201 13-18 3B,
RBN Energy: world-class assets headline BP's return to upstream growth. Link here. Archived.
BP has undergone a series of significant strategic transformations since the Deepwater Horizon oil spill in 2010 tarnished its reputation and nearly crippled its balance sheet. Over the past 16 years, the company has undergone multiple restructurings of its upstream portfolio, interrupted by a shift to — and then away from — one of the sector’s most ambitious energy transition strategies. In today’s RBN blog, we chronicle the upstream evolution of one of the oil and gas industry’s most significant integrated companies.
The Deepwater Horizon oil spill, the most consequential disaster in the history of the oil and gas industry, imposed enormous financial, legal, operational and reputational consequences that lasted more than a decade. The April 2010 blowout killed 11 workers and triggered the largest offshore oil spill in U.S. history, releasing an estimated 134 million gallons of crude into the U.S. Gulf. BP’s financial position and strategic direction were severely challenged as it ultimately faced a combined cost of $61.6 billion in cleanup, settlements, fines and compensation — one of the most expensive corporate disasters ever. The company paid a $20.8 billion civil settlement, a $4 billion criminal penalty, and billions more through private claims programs and restoration funding. Equally important, the company faced a loss of confidence by investors, regulators and other industry participants.
Survival required significant strategic restructuring that continued over the next decade and a half. We should begin by noting that BP announced in July 2010 — three months after the Deepwater Horizon spill — that CEO Tony Hayward would be replaced by Bob Dudley, a Mississippi native who had already been put in charge of handling the spill as president of the newly created Gulf Coast Restoration Organization. Dudley, the first American to lead BP, focused on stabilization: restoring trust, managing the legal fallout, and rebuilding the company’s reputation. BP concentrated capital in a smaller number of high‑quality developments capable of generating durable returns. By the end of the decade, BP had strengthened positions in the offshore Gulf, Azerbaijan, Oman, Egypt, Trinidad & Tobago, and the Lower 48 — assets that now anchor its upstream portfolio.
BP’s evolution can be summarized in three phases, as shown in Figure 1 below.
