If I was doing two-a-days in the gym instead of on LinkedIn, I'd be thinner. But, I wanted to tee up the afternoon technical discussion for next week by closing the Midland series looking at completions. In the "Beatings" series over the summer, we spent a little time on the completion engineers, but not nearly enough. Next week, we will spend a lot more time looking at what larger fracs have ACTUALLY accomplished (as opposed to what people...

Sticking with the supply side of the equation, it’s worth looking more closely at the Haynesville. While it produces only 10 BCF/d, it’s one of the two plays in the US that hasn’t seen it’s rig count decline (the Bakken is the other one). Even more so than the Marcellus (which has seen rigs drop 30% since Sept 30), Haynesville well performance since 2016 has DRAMATICALLY improved in EURs, driven by higher IPs and lower decline percentages....

Let’s talk natural gas. In my year of posting, this is the first time I’ve talked about the industry’s ugly stepchild and for good reason - I’m still scarred from when I thought it was impossible for gas to sell below $4.25/mcf. Even $3.50/mcf would be good. $2.75 anyone?? For those who have been a bull, it’s been a LONG 10 yrs. And though I've been a permabear for a while, it’s important to understand why and to always be...

What did I learn from the graphic yday? 3 things. The growth trajectory of PXD is without comparison; the white space closely correlates with the PXD IR map (which begs the question-are they the only ones with inventory?); and the picture provided me the answer as to why my SMOG analysis on PXD didn't make sense. That's the topic of this post. I know, I know. For 2 days I've said "look at the pictures" but today, we are...

Let's keep talking the Midland basin. Although it wasn't explicitly "an exercise", I appreciate the number of DMs I got that said "hey, that white space is Pioneer!” Also, thanks to John Ferrell of WellDatabase who posted some pretty exciting maps that show the density of existing verticals (more on that tomorrow). So the answer is: yes, it is Pioneer, and yes, that white space has a lot of verticals. Let this also serve as exhibit...

At times over the course of my career, I have been at odds with the finance side of the business who like handouts with pages and pages of numbers. I love numbers too, but if you know what you are looking at, a picture says 1000 words and is far more instructive. With thanks to ShaleProfile Analytics, I thought it would be fun to walk through an informative graphic on the Midland basin. 1) ...

I don't want to get in the habit of doing two posts in a day, lest I saturate the free news market with more opinions, but today was a big day in the Oil and Gas space. Let's start with OPEC+: as you know I have a bet that oil will be $63/bbl December 31st. I don't know all the mechanics of how that happens- but after my deep dive into Saudi Aramco, their RLI, and...