WTI Back Above $86; CLR With Six New Permits; Four Permits Renewed; One DUC Reported As Completed -- April 15, 2024

Locator: 47011B.

WTI: $85.86.

Active rigs: 37.

Six new permits, #40670 - #40675, inclusive:

• Operator: CLR
• Field: East Fork (Williams)
• Comments:
• CLR has permits for six Carpenter wells, SESW 13-156-99, 
• to be sited 315 FSL and between 2039 FWL and 2359 FWL;

Four permits renewed:

• SOGC (Sinclair): two Horovitz permits, Lone Butte, McKenzie County
• Foundation Energy Management: two Roosevelt Federal permits, Roosevelt, Billings County

One producing well (a DUC) reported as completed:

• 37650, n/d, BR, Tailgunner 2F MBH-ULW,

Ron Muhlenkamp's Reading List -- 2010

Locator: 47010BOOKS. 

The Book Page

Back in 2010, Ron Muhlenkamp released his reading list. It still holds up.

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Good Morning

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The Book Page 

Earlier I mentioned a most poignant essay in this month's (May, 2024) issue of The Atlantic, written by a Pulitzer-winning author about his uncle who died during the Pacific campaign WWII on / near Guadalcanal.

The Solomon islands, northeast of Australia.

The campaign is brilliantly told by Norman Mailer in The Naked and the Dead. I continue to read Mailer's book, no hurry to complete it. It may take me a year. I take extensive notes as I go along. I'm convinced tat Mailer's fictional island, Anopopei, is actually Guadalcanal itself. 

There would be no reason for any other island to get that much attention by Mailer had it not be Guadalcanal. I've not found others on the web who suggest the two are identical but it's so obvious, I assume I simply haven't found a reference yet.

I should have known this before but I completely missed it, the highest mountain on Guadalcanal: Mount Popomanaseu.  

In The Atlantic essay, there is mention of the USS Crescent City.

I wonder if folks know the American city nicknamed the Crescent City at that time.

And, if they know the connection to that American city, do they know the origin of that nickname?

Talk about coincidental. This article was published just a few days ago, April 12, 2024. Not much of an article but it is what it is.

By the way, back to The Naked and the Dead: another good look at the book at this link: GRIN. GRIN appears to be a German site for ordering e-books.

Monday, Monday -- GDP Now -- 1Q24 Estimate Surges -- April 15, 2024

Locator: 47009B.

GDPNow: as of April 10, 2.4. Next reading, later today. [Holy mackerel! Jumps to 2.8. Investing? I’m betting on the US economy. I’m not investing based on dot plots. LOL. There's no way the Fed is going "to cut" in calendar year 2024 unless something changes significantly and/or else I'm missing something.

• 1Q24 readings:
• advance estimate:April 25
• second reading: May 30
• third reading: June 26

Inflation Watch: Carl Q.

JPM: Carl Q.

NEOM:

• original plan: 105-mile-long glass city
• new plan: 1.5 mile of something less
• link here.
• the trailer is incredibly bizarre -- remember, this is the desert we're transforming
• tag: Saudi nuts batsh*t crazy 
  

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Back to the Bakken

WTI: $85.26.

Tuesday, April 16, 2024: 35 for the month; 35 for the quarter, 234 for the year
40139, conf, CLR, Veigel 6-9H,
40073, conf, Neptune Operating, Britt 4-9 6H,
39548, conf, Petro-Hunt, Terres 144-98-13B-24-1H,
39070, conf, Whiting, Safely Federal 32-7-3H,
37516, conf, BR, Mazama 4A UTFH,

Monday, April 15, 2024: 30 for the month; 30 for the quarter, 229 for the year
40138, conf, CLR, Veigel 5-9H1,
40072, conf, Neptune Operating, Britt 4-9 5H,
39579, conf, Hess, CA-Anderson Smith-155-96-2635H-8,
39578, conf, Hess, CA-Anderson Smith-155-96-2635H-7,
39549, conf, Petro-Hunt, Terres 144-98-13A-24-2H,

Sunday, April 14, 2024: 25 for the month; 25 for the quarter, 224 for the year 
None.

Saturday, April 13, 2024: 25 for the month; 25 for the quarter, 224 for the year
40137, conf, CLR, Veigel 4-9H,
39464, conf, Hess, EN-Erickson-157-93-1003H-2,
38009, conf, BR, CCU Plymouth 21-29 MBH,

RBN Energy: new US rules on tailpipe emissions conflicts with energy reality.

The Biden administration recently announced a very ambitious — to say the least — rule on tailpipe emissions. But while the rule’s legal and political standing might be a bit uncertain — it’s seen by many as a de facto ban on conventionally fueled cars and trucks and is likely to face several court challenges — doubts also remain about whether it matches up with the realities of today’s energy world. In today’s RBN blog, we look at the new rule, what it would mean for U.S. consumers and automakers, and how it conflicts with the views of RBN’s Refined Fuels Analytics (RFA) practice on the future of global oil and refined products demand and the rate of electric vehicle (EV) adoption. 

The push to reduce greenhouse gas (GHG) emissions in the transportation sector has been a key piece of President Biden’s climate agenda since taking office in 2021. His administration has a two-track strategy aimed at the auto industry: (1) make sure cars and trucks use less gasoline, and (2) make sure the vehicles on the road produce fewer emissions.

To achieve the first goal, the National Highway Transportation and Safety Administration (NHTSA) has sought to improve the fuel efficiency of U.S. passenger vehicles and light trucks through changes to Corporate Average Fuel Economy (CAFE) requirements. The agency in 2022 amended the rules for the 2024-26 model years to require a fleet average of 49 miles per gallon (mpg) by 2026, increasing efficiency requirements by 8% annually for the affected model years. (CAFE standards for 2021-26 passed by the Trump administration called for 1.5% annual increases.)

One Wonders If Qatar Is Watching -- Update On Costa Azul -- April 14, 2024

Locator: 47008NATURALGAS.

 
I track Coast Azul here. Update: project was delayed; now, June 6, 2026, production has begun. Links everywhere.

Link here but I'm sure there are many links elsewhere.

San Diego-based Sempra Energy is targeting summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul (ECA) LNG Phase 1 project, located in Ensenada in Baja California, Mexico. The project will source U.S. gas.

This is a must-read, NY Times, February 13, 2024. Truly incredible.

As soon as next year, the United States’ fossil fuel industry will gain its first foothold on a valuable shortcut to sell natural gas to Asia. The shortcut goes straight through Mexico.

The new route could cut travel times to energy-hungry Asian nations roughly in half by piping the gas to a shipping terminal on Mexico’s Pacific Coast, bypassing the traffic- and drought-choked Panama Canal.

The terminal is symbolic of an enormous shift underway in the gas trade, one that will influence fossil-fuel use worldwide for decades and have consequences in the fight against climate change.

The American fracking boom has transformed the United States into the world’s largest gas producer and exporter. At the same time, the rest of the world has begun using ever more gas — in power plants, factories and homes — partly to move away from dirtier fuels like coal. Demand is particularly growing in China, India and fast-industrializing Southeast Asian countries.

And more, with a map, whoo-hoo! :

In Mexico, the action is centered for now on a gas terminal, Energía Costa Azul, that was originally designed to send gas in the other direction: For more than a decade it has unloaded gas from Asian tankers and piped it to California and Arizona to be burned to produce electricity.

Fracking changed everything.

Now Costa Azul, pinched between Baja California’s agave-covered mountains and the vast Pacific Ocean, is undergoing a $2 billion transformation into an export facility for American-produced gas. It’s the first in a network of gas exporting facilities planned down Mexico’s West coast.

The Day After Iran Launches A Full-Scale Attack On Israel -- Then Calls For A Time-Out -- And Biden Is Said To Have Told Israel -- One Of Our Most Important Allies In The Mideast -- If You Attack Iran You're On Your Own -- Saudi Tells Both Iran And Israel To Chill -- April 14, 2024

Locator: 47007NEVERMIND.

April 14, 2024, 7:13 p.m. CDT: 

 

 

US debt. What am I missing here?

Over 300 Iranian missiles and drones launched toward Israel. No Israeli casualties except one 7-year-old girl with shrapnel to a leg. First reports.

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Never Quit Reading

A must-read essay in current issue of The Atlantic. Notes here.

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Judah in Portland, Oregon

Four years old. 

He has his driving gloves on and ready to drive the SW Broadway Drive, Portland.