Locator: 50012B.
WTI: just hit a new "recent" high. Trending toward $67, but somewhat volatile.
First ten minutes of Cramer:
- Gobsmacked (negatively) with GDP number! 1.4% vs 2.5% estimate. What happened!!
- First company mentioned: CAT! Over and over the first ten minutes the discussion came back to CAT.
Apple: another Apple first -- Apple grabs 33% of Europe market -- Apple is the leading smarphone brand in Europe -- record hit 4Q25.
Apple satellite: saved lives in that Lake Tahoe avalanche earlier this week. Apple soon to expand that connectivity. Link here.
Apple: out of stock at Walmart -- link here --
ND LDC: Williston, ND, currently has largest LDC in North Dakota! Will eventually lose that bragging right to the Fargo area.
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Back to the Bakken
WTI: $66.22.
New wells reporting:
- Sunday, February 22, 2026: 43 for the month, 96 for the quarter, 96 for the year,
- 41457, conf, Phoenix Operating, Daniel Ferrari 3-10-15-22-3H,
- 41455, conf, Phoenix Operating, Daniel Ferrari 3-10-15-22-5H,
- 41323, conf, Phoenix Operating, Daniel Ferrari 3-10-15-22 4H,
- Saturday, February 21, 2026: 40 for the month, 93 for the quarter, 93 for the year,
- 41370, conf, Hess, EN-Hanson A-155-94-0607H-7,
- Friday, February 20, 2026: 39 for the month, 92 for the quarter, 92 for the year,
- 41241, conf, Hunt, Clearwater 157-90-13-12H-2,
- 41153, conf, Oasis, Sedge Federal 5202 24-17 5B,
- 41152, conf, Oasis, Sedge Federal 5202 24-17 4B,
RBN Energy: pipeline buildout set to unlock Permian natural gas production growth later in 2026. Link here. Archived.
This year will be a tale of two halves for the prolific Permian Basin, which is so constrained when it comes to natural gas infrastructure that cash prices at the Waha Hub in West Texas have averaged just $0.06/MMBtu since the beginning of December, even including the higher prices during the freeze-offs caused by Winter Storm Fern. Production and pricing figure to remain fairly stable until the back half of this year, when 4.5 Bcf/d of new pipeline capacity comes online, giving the basin room to grow for the first time in a long time. In today’s RBN blog, we take a look at the Permian production outlook and the new infrastructure coming to allow for the promised supply growth.
The Permian Basin, which includes West Texas and southeastern New Mexico, is a prolific producer of natural gas but it is not a very large consumer. While some production is needed to meet local demand (light-green layer in Figure 1 below), the majority of it needs to leave the basin (dark-green layer). That means that a lot of pipeline capacity is needed to transport the gas to more demand-rich areas. The basin’s effective takeaway capacity (red line) is the sum of all the pipelines out of the area, with some caveats for gas flowing to Mexico and the West because of downstream constraints and ongoing pipeline issues. As the basin becomes more constrained (when the red line moves closer to the dark-green area), the lower Waha prices move. The last time the Permian market was this constrained was in 2024.