Today we remember the heroes lost in the tragedy of September 11, 2001. Today we remember how we came together as a nation to rebuild, reunite, and move forward. Today we remember how those terrible events brought us together. But most importantly, today we recognize we must once again come together as a nation to overcome these current events to build a better tomorrow. #NeverForget

RP Weekly Recap | September 7 – 11

Summary – Winning at All Costs

The results of the upcoming 2020 Presidential Election could have dramatic effects on the oil and gas industry. Presidential Nominee Joe Biden plans to execute a more aggressive energy policy, pushing for a carbon free future that includes a plan to ban new oil and gas leasing on public lands and waters as well as a ban on hydraulic fracturing. Up until recently, President Donald Trump planned to continue his carbon leading energy policy and push for domestic energy independence. He planned to open new lands and waters to oil and gas development while working towards a carbon-neutral future with less aggressive and jolting environmental regulations. That policy changed in a dramatic way on Tuesday when President Trump expanded a drilling moratorium for Florida’s, South Carolina’s, and Georgia’s coast, completely altering the direction of his energy policy. This comes just one day after Joe Bieden told supporters in Pennsylvania he will not be banning frac’ing. With just two months from the November elections, candidates are doing everything they can to win at all costs. Check out this story and more in this week’s recap of all things happening in oil and gas!

COVID-19 Updates

COVID-19 Statistics

• Number of Cases (Worldwide): 28,257,406 (up from 26,398,466 last week)
• Number of Cases (USA): 6,408,332 (up from 6,164,267 last week)
• Statistics courtesy of Johns Hopkins

Financial & Economic Updates

US Oil Market News

• Trump Expands Drilling Moratorium for Florida’s, South Carolina’s, and Georgia’s Coast (Link)
• Biden-Backed Fracking Policy Flip-Flopping Could Derail America’s Economic Recovery (Link) 
• BP and Equinor Form Strategic Partnership to Develop Offshore Wind Energy in the United States (Link) 
• Colorado Regulators Back 2,000-Foot Setback for New Oil and Gas Drilling In “Paradigm Shift” (Link)
• EOG CEO Sees U.S. Oil Output Continuing to Decline for Years (Link)
• Activist Investor Seeks to Break Up Noble Energy’s Sale to Chevron (Link)**SEE LAST WEEKS PERIODICAL – RP PREDICTED THE OUTCOME** 

Global Market News

• Exxon Makes 18th Oil Discovery Offshore Guyana (Link) 
• Saudis Reduce Oil Pricing in Sign Demand Recovery Struggling (Link)
• Mexico Is Cutting Pemex’s Oil Output Forecast for 2021 (Link)
• Whitecap Offers to Buy Oil and Gas Producer NAL Resources From Manulife for $155M in Shares (Link) 
• Oil Markets Get A Major Reality Check As Demand Sours (Link)
• Surprise Crude Build Forces Oil Prices Lower (Link)
• Baghdad Asks Kurdistan To Cut Oil Production (Link)

Employment Updates

• Weekly Jobless Claims Miss Estimates as Employment Gains Taper (Link)

US Rig Count

• Down 2 rigs from last week for a total of 254
• Down 71% from one year ago
• Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content Updates – News Pulse – Podcast

• A new episode of the Periodical Podcast is available now! Be sure to check out our discussion where we uncover a growing distaste for the oil and gas industry among potential young employees that is making it difficult to attract and retain the talent of the future! (Link) 
• This week’s periodical highlights a growing distaste for the oil industry among potential young employees that when combined with the economic crisis of the pandemic, is making it difficult to attract the talent of the future. The growing perception problem of hydrocarbon based energy is causing young and experienced individuals alike to leave the industry in pursuit of different careers. If oil and gas companies don’t start taking perception related issues seriously, they will find themselves in a experience vacuum that will stagnate any progress into the future. Be sure to check out The Great Crude Exodus: Why a New Crew Change is Forming in Oil & Gas! (Link)
• As Always, A New Monday Madness Podcast! (Link)

Subscribe HERE

Click above to subscribe to the RARE
PETRO Podcast Network or visit
www.rarepetro.com/newspulse

The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the linked sources unless otherwise
noted.