BRK discussion, page-2687

Morning All,

Oil prices including WTI performed strongly overnight and can only presume this is some optimism for the presumed change in US Administration under Biden, there are a few positives that have potential imo to be in Brooksides and other onshore US gas shale and gas plays favour providing they are not on Federal land and leasing should proposed action come to effect.

Mentioned previously that any ban on fracking is not likely to effect operation for BRK and has serious upside potential from this point for all of the pillars of operation that BRK has announced.
Firstly, if the new US administration were to ban and fracking and new leases on Federal lands including offshore this will eventually remove physical oil from the market secondly energy producers will look to places of operation whereby they can continue to produce oil and gas for their shareholders

This could mean that both oil and gas prices to rise somewhat (note that other international oil plays could fill the void from lower US production) and that land and leasing prices could rise for tier tier 1 producing acreage.

I have copied below an article from Rigzone yesterday for reference, a webinar has been announced for investor questions for Tuesday 17th this is a good opportunity to get in and ask some of those burning questions. I will be working however may login to listen only at this stage.

Consequences of a Biden Admin for US Energy

A change of federal government would have several consequences for the U.S. energy industry, according to energy research and consultancy company Wood Mackenzie.Some of the most important of these, according to Ed Crooks, Wood Mackenzie’s Americas vice chair, would be restrictions on oil and gas development and new hurdles for oil and gas infrastructure projects.In a statement posted on Wood Mackenzie’s website, Crooks noted that there will not be a ban on fracking but highlighted that Biden has pledged to end sales of new leases for oil and gas development on public lands and waters. Onshore, the impact would be minimal but offshore, the effects would be more significant, although they would take some time to become apparent, according to Crooks. A ban on new leasing, if permanent, would mean that by 2035 U.S. offshore oil and gas production would be about 30 percent lower than if lease sales had continued, Crooks revealed.The Wood Mackenzie representative outlined that decisions on federal permits for infrastructure projects would take into account their implications for greenhouse gas emissions and climate change, which he noted would create new hurdles for developers of oil and gas pipelines and export facilities.A Biden administration would also provide a boost for offshore wind and support for electric vehicles, according to Crooks, who pointed out that Biden plans to impose tighter fuel economy standards, which will help sales of electric cars. By 2030 there could be four million electric vehicles on U.S. roads as a result of those standards, almost 60 percent more than if the Trump administration’s rules had taken effect, Crooks revealed.The Wood Mackenzie vice chair projected that no quick relaxation of sanctions on Iran would occur as a result of a Biden administration. Crooks forecasted that negotiations about a possible renewed deal are not likely to begin until June 2021 at the earliest, after Iran’s elections, and emphasized that there is no guarantee that the two countries would reach an agreement.
https://www.rigzone.com/news/consequences_of_a_biden_admin_for_us_energy-09-nov-2020-163793-article/

Best of luck,

Keep well cheers Paul