CNBC: Joe Kernan's segment, what was it, 6:00 a.m. to 8:00 a.m. CT? used to be the best segment on morning CNBC but it's turned into one of the worse segments. It almost seems like "filler" waiting for the market to open, compounded by an excessive number of commercials. The best hour on morning CNBC is now the one hour from 8:00 a.m. to 9:00 a.m. CT. It is for the most part unscripted and simply an informal discussion of business news.
Crude oil supply in the US: starting to creep back up. Now at 27.5 days. Considering that inventories are dropping, if the number of days of supply are increasing, it means that demand is falling. GasBuddy has been telling us that for the past two weeks.
US crude oil imports: as Canadian oil imports are dropping, Russian oil imports are surging. Tbis is simply amazing. While we're at it, check out the dismal state of affairs for Mexico. Saudi Arabia has become a non-player when it comes to US crude oil imports.
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Back to the Bakken
Active rigs*: current list is reported COB --
$72.42
| 9/16/2021 | 09/16/2020 | 09/16/2019 | 09/16/2018 | 09/16/2017 |
|---|
| Active Rigs | 24 | 12 | 62 | 65 | 56 |
One well comes off the confidential list;
- Thursday, September 16, 2021: 25 for the month, 36 for the quarter, 216 for the year:
- 38156, conf, CLR, Kukla 10-16HSL1,
RBN Energy: oil-weighted and diversified E&Ps earnings climb past 2018 peak; gas producers lag.
Memories of disasters linger, and it’s likely that no one in the North
American energy sector is likely to ever forget the second quarter of
2020.
As the COVID-19 pandemic destroyed demand and crude oil prices
bottomed out, exploration and production companies (E&Ps) scrambled
to shut in wells and slashed spending in the face of an unprecedented
plunge in average realizations to less than $14 per barrel of oil
equivalent.
Not everyone bought into apocalyptic visions of the
industry’s future that were circulating widely, but few analysts
expected the rapid return to the level of profitability reflected in the
recently released second-quarter 2021 results of the 39 major E&Ps
we monitor.
Rising oil prices and continuing cost control propelled the
earnings of the Oil-Weighted and Diversified peer group companies over
the results from the last industry performance peak in the third quarter
of 2018, when WTI was priced 10% higher. Although the results of
Gas-Weighted producers lagged, soaring third-quarter natural gas prices
suggest a catch-up in the second half of the year. In today’s blog, we
analyze the second-quarter results of our universe of 39 producers and
preview third-quarter results.
