Palm reading. Amazon style.
Collapse: of housing trust in Los Angeles.
Vacations: millennials.
COP: Australia.
A "goldilocks" economy? Link here.
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Back to the Bakken
Active rigs: 47 (recent high).
Peter Zeihan newsletter.
WTI: $70.46.
Natural gas: $2.099.
Tuesday, March 28, 2023: 86 for the month: 250 for the quarter, 250 for the year
39221, conf, Crescent Point, CPEUSC Samples 4-35-26-159N-100W-MBH-LL,
39194, conf, CLR, Allen 7-17H,
Monday, March 27, 2023: 84 for the month: 248 for the quarter, 248 for the year
39223, conf, Crescent Point, CPEUSC Samples 5-35-26-159N-100W-MBH-LL,
39195, conf, CLR, Allen 8-17HSL,
38441, conf, Hess, EN-Sable-157-93-3534H-4,
9302 (no typo), conf, Empire North Dakota LLC, Waddle 7-29,
Sunday, March 26, 2023: 80 for the month: 244 for the quarter, 244 for the year
39220, conf, Crescent Point, CPEUSC Charlotte Elizabeth 2-34-27-159N-100W-MBH,
39196, conf, CLR, Boe State 5-16H,
39219, conf, Crescent Point, CPEUSC Charlotte Elizabeth 34-27-159N-100W-MBH,
39197, conf, CLR, Boe State 6-16H,
30860, conf, BR, Rollacleetwood 11-27MBH ULW,
RBN Energy: US E&Ps temper 2023 CAPEX increases after aggressive late-2022 investment spurt.
In marking the third anniversary of COVID’s onset, the Washington Post detailed a study that showed most of us are already shedding the virus-impacted memories of that tedious and often traumatic time to concentrate on looking ahead — a trait scientists label “future-oriented positivity bias.” That transition was clearly evident in the 2022 investment decisions of U.S. E&Ps as the capex budgets of the 42 companies we monitor, pared to the bone during the pandemic, expanded through last year from initial guidance of a 24% increase over 2021 to a final 54% reported increase for the full year. They increased production by 9% year-over-year, but producers haven’t forgotten fiscal discipline or a focus on cash flow generation. In today’s RBN blog, we analyze 2023 capital budgets that generally sustain the pace of Q4 2022 spending and eschew additional increases in a lower commodity price environment.
