Locator: 52140B.
Big stories which I hope to touch on today:
- the big investing stories that are not receiving much attention right now: BRKB, AAPL
- the LCD surge no one is talking about
- the US LNG story is absolutely staggering (I probably won't blog on this one -- except to remind folks to look at RBN Energy today)
- the natural gas turbine market has exploded -- no put intended -- and the word "explosion" is used in a good way; link here.
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Back to the Bakken
WTI: $86.46.
New wells reporting:
- Friday, November 13, 2026: 32 for the month, 98 for the quarter, 597 for the year,
- None.
- Thursday, November 12, 2026: 32 for the month, 98 for the quarter, 597 for the year,
- None.
RBN Energy: long-term contracts evolving to meet the next was of US LNG. Link here. Archived.
U.S. LNG export projects are supported by long-term sales and purchase agreements (SPAs) signed years before production begins. Long-term SPAs provide the revenue predictability needed for project financing today, while also providing the supply security and a predictable pricing formula critical to buyers. But how are those contracts changing amid the disruptions to the global energy market we’ve seen this year? In today’s RBN blog, we examine why long-term LNG contracting remains attractive and how the market is evolving as conditions change.
As we noted earlier this year in What’s Left, the U.S. is at the tail end of an incredible wave of LNG expansion that has seen several new projects reach a final investment decision (FID) in a little over a year. But more important than the individual projects, the overall scale of the buildout coming is unprecedented. U.S. feedgas demand topped 20 Bcf/d for the first time in October thanks to the number of projects that are already online (blue layers in Figure 1 below), but capacity will climb significantly by the early 2030s given the number of projects that have reached FID or are under construction (green layers). As tracked in our LNG Voyager report, additional growth is possible later in the 2030s due to a number of projects we have classified as either Probable (yellow layer) or Possible (orange, red and purple layers).
