Locator: 50527B.
We've had enough: one hour ago (posted 7:11 a.m. CT) -- US and Iran agree in principle to extend the truce.
Bloom energy on a tear: how do they do it? "We produce onsite power by converting natural gas to electricity. Okay.
Ford: CEO Farley -- "do not let Chinese EVs into our country." Okay.
Earnings:
- Morgan Stanley: beats; EPS of $3.43 vs $3; revenue of $20.6 billion vs $19.8 billion. Shares up 2% pre-market.
- B of A: beats; EPS of $1.11 vs $1.01; revenue of $30.43billion vs $29.93 billion. Shares up 2% pre-market.
- SNAP: down 91% in past five years. I remember almost getting sucked into this stock by Josh Brown. SNAP is laying off 16% of its staff as it leans into AI.
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Operation EPIC Fury: it's being reported that President Trump has said there will be no need for a cease-fire extension and that exciting things may happen within the next two days.
No matter what happens, journalists for the mainstream media have already written their analyses, critical of whatever transpires, and have these articles already to go as soon as the announcements are made. They only have to tweak their analyses once the announcements are made.
Naval blockade: 100% effective -- every ship that the US Navy radioed to turn around, turned around. Within 36 hours, US forces have completely halted economic trade going into and out of Iran by sea -- Admiral Brad Cooper, CENTCOM Commander. US flag officers are generally (no pun intended) not into hyperbole.
Mideast: being re-engineered. Saudi's NEOM, the crown jewel of Prince MBS, is now pushing a Europe-Egypt-GCC corridor via trucking and RoPax ferries. Truly amazing.
Local: six new hotels, museums, under construction in our local area. Updates. Link here.
Fastest growing counties in the US: of the top four, two are in Texas -- Kaufman County, Texas; and, Liberty County, Texas.
The other two, Jasper County, SC; and, Long County, GA. Kaufman County is within the DFW metropolitan area, to the east of Tarrant County and Dallas County, on the northeast side of the metroplex. Liberty County is part of the Houston-The Woodlands-Sugar Land metropolitan statistical area.
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Back to the Bakken
WTI: $92.64. Up $1.36; up 1.49% since previous update. It appears we are in a trading range, $95 to $105 for the near term.
New wells reporting:
- Thursday, April 16, 2026: 48 for the month, 48 for the quarter, 205 for the year,
- 42182, conf, BR, Omlid 4--7 MBH,
- 42180, conf, BR, Abercrombie 112MBH,
- 41804, conf, XTO, GBU Athena 31X-3H,
- 41803, conf, XTO, GBU Athena 31X-3D,
- 40954, conf, Hunt Oil, Shell 153-89-8-17H 1,
- Wednesday, April 15, 2026: 43 for the month, 43 for the quarter, 200 for the year,
- 41802, conf, XTO, GBU Athena 31X-3G,
- 40867, conf, Hess, RS-Piepkorn-155-92-1208H-2,
RBN Energy: US feedgas holds strong and Commonwealth LNG nears final investment decision (FID). Link here. Archived.
U.S. LNG feedgas is still operating at peak levels, averaging
about 19.4 Bcf/d, down 0.08 Bcf/d from the previous week. The only minor
disruptions have been tied to pipeline maintenance and several key
pipelines have upcoming work scheduled, which may disrupt feedgas
availability later this month and into May.
Commonwealth LNG has largely completed commercialization of its 9.5 MMtpa export terminal (1.3 Bcf/d) and
is approaching a final investment decision (FID). It is under
development by Caturus (formerly Kimmeridge Energy) near Cameron, LA
(see picture below). The project has obtained all required regulatory
approvals.
Caturus has indicated FID could come in a matter of weeks (see our blog on how an LNG project reaches FID in Greenlight).
As part of recent agreements, existing offtakers EQT and Glencore each
agreed to increase their commitment by an additional 1 MMtpa (0.13
Bcf/d) from Commonwealth LNG. Caturus has said it has secured sufficient
commercial commitments to move forward and, on April 7, issued a notice
to its engineering, procurement, and construction (EPC) contractor,
Technip Energies, to advance work ahead of FID.
