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The Daley Note 1/29/2021

The Daley Note 1/29/2021

  • Biden Imposes Federal Land Drilling Moratorium: President Joe Biden on Wednesday (Jan. 27) signed an Executive Order imposing a new leasing moratorium on federal lands, one among an array of executive actions intended to tackle climate change by the new administration.
  • New Biden BOEM Creates Risk for Offshore Midstream: The Biden administration’s freeze on new federal leases creates long-term risk for several midstream companies that service offshore Gulf of Mexico (GoM) projects, in particular Shell Midstream (SHLX) and Genesis Energy (GEL). (SHLX), (GEL)
  • A New Name in the Bakken: Private Outrigger Energy II LLC recently announced it has finished construction of the Bill Sanderson gas processing plant in the Williston Basin. The project is anchored by a long-term producer agreement that could draw business away from a handful of competing midstream gas processors, including ONEOK (OKE). (OKE)
  • East Daley’s January 2021 Production & Constraint Forecasts Available: New Production & Constraint Forecast (PCF) reports and data sets for the following basins are now available for East Daley clients: Permian, Northeast, Denver-Julesburg, Powder River, Western Canadian Sedimentary Basin, and Williston. (PCF)
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