Hi mate, while the ban on NEW leasing and drilling on federal lands works in our favour and others on non federal lands.
I would not anticipate a meteoric rise in the SP this morning however the long term value has just risen on Biden announcement...Jewell spud will still be the catalyst for re rate in my opinion..
The following and below article probably best explains that existing producers and operators have a stockpile of approved permits lodged in anticipation of this federal move that could see them producing for sometime still....there may also be some furthet moves coming from the Biden Administration to make producing either difficult or un economical on federal lands eg removal of pipeline projects....
One thing is certain that new land acreage has been removed and that will drive producers to look for viable acreage in unaffected basins
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/012621-bidens-planned-moratorium-on-oil-and-gas-leasing-picks-winners-and-losers-critics-argue?utm_source=social&utm_medium=twitter&utm_term=plattsoil&utm_content=5c2a0542-82e6-4173-a8fa-42fecd765d16&utm_campaign=hootsuitepost
Keep well cheers Paul
Hi mate, while the ban on NEW leasing and drilling on federal...
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