Link here. US Supreme Court nominee? We’ll see how “good” CNN is (?). Later: yes CNN was correct. No one will dare vote against this nominee. Or even say a bad thing. She’s going to make Sotomayer look like the idiot Sotomayer is.
Thursday, February 24, 2022
The Williston Herald "The Energy Chaser" Has Posted -- Palindromic Thursday -- 2-24-22
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EOG 4Q21 Earnings And Full Year 2021; Declares Special Dividend , $1.00 / Share Along With Regular Dividend
Note the "double premium wells." See this link among many other links; google EOG double premium wells.
Fourth Quarter Highlights
- Record quarterly adjusted net income of $1.8 billion, or $3.09 per share, and $2.0 billion of free cash flow
- Capital expenditures in-line with guidance while oil production above guidance mid-point
- Declared regular dividend of $0.75 per share and special dividend of $1.00 per share
Full Year 2021 Highlights
- Record annual adjusted net income of $5.0 billion, or $8.61 per share
- Generated record $5.5 billion of free cash flow
- Reduced well costs 7%
- Identified 700 new net double premium locations, replacing 170% of double premium wells drilled in 2021
- Replaced more than two times 2021 production at $5.81 per Boe finding and development cost
- Achieved significant improvements in methane emissions, water and safety performance
2022 Capital Plan
- Capital plan of $4.3 to $4.7 billion returns oil production to pre-pandemic levels, maintains flat well costs, lowers per-unit cash costs and funds investments to further improve the business
- Cash from operations before working capital funds capital plan at $32 WTI
"The outstanding fourth quarter results cap off a tremendous year for EOG – record earnings, record free cash flow, and return of cash that places EOG among the leaders in our industry and across the broader market. Reflecting these results, we are continuing to deliver on our long-standing free cash flow priorities with another $1.00 per share special dividend while further strengthening the balance sheet.
About that "double premium well":
NOG: 4Q21 And Full Year 2021
Highlights:
- fourth quarter production of 64,155 Boe per day (59.2% oil), an increase of 11% from the third quarter of 2021
- fourth quarter GAAP cash flow from operations of $133.1 million. Excluding changes in net working capital, cash flow from operations was $158.0 million, an increase of 29% from the third quarter of 2021
- total capital expenditures of $83.7 million during the fourth quarter, excluding previously-announced non-budgeted acquisitions
- free Cash Flow (non-GAAP) of $70.7 million during the fourth quarter, post-preferred stock dividends, increased 28% from the third quarter of 2021. See “Non-GAAP Financial Measures” below
- initiates 2022 production guidance of 70,000 - 75,000 Boe per day, with $350 - $415 million total planned capital expenditures
- closed Veritas acquisition in the Permian Basin, largest acquisition in NOG’s history, on January 27, 2022
- announced a Base Dividend Growth plan in December 2021, highlighted by planned 20% average dividend growth per quarter through 2023
- retired $7.2 million in face value of Convertible Preferred Stock
MRO With Five New Permits; Two DUCs Reported As Completed -- Palindromic Thursday 2-24-22
Active rigs:
| $93.58 | 2/24/2022 | 02/24/2021 | 02/24/2020 | 02/24/2019 | 02/24/2018 |
|---|---|---|---|---|---|
| Active Rigs | 32 | 15 | 49 | 66 | 57 |
Five new permits, #38793 - #38797, inclusive:
- Operator: MRO
- Field: Bailey (Dunn County)
- Comments:
- MRO has permits five new wells in Bailey oil field: Rowe, Erling, Ravn, Valborg, and Skinner;
- all will be sited in SESW 21-146-93;
- sited 470 FSL and between 2178 FWL and 2338 FWL
Two producing wells (DUCs) reported as completed:
- 37635, 200, BR, Cherry Tree 1Z TFH,
- 35131, 975, Enerplus, Huntsman 149-92-32D-29H-TF1,
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