Some interesting questions in the Special Questions Section.
eg
In the top two areas in which your firm is active: What WTI oil price does your firm need to profitably drill a new well?
For the entire sample, firms need $56 per barrel on average to profitably drill ... Across regions, average breakeven prices to profitably drill a new well range from $48 to $69 per barrel ... Large firms need $49 per barrel on average to profitably drill, lower than the $59 for small firms.
By what percent do you expect your firm’s crude oil production to change from fourth quarter 2021 to fourth quarter 2022?
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CRUDE OIL MARGINS EFFECTIVE 6TH APRIL
Maintenance margin as follows (Initial Margins, ie non-member rates will be 110% of these)
Tier 1 / May22 decreasing from $10750 to $9500, -$1250
Tier 3 / Jun22 decreasing from $9750 to $9000, -$750
Tier 4 / Jul22 decreasing from $9200 to $8750, -$450
Tier 5 / Aug22 decreasing from $8750 to $8600, -$150
Tier 6 / Sep22 decreasing from $8400 to $8300, -$100
Tier 7 / Oct22 unchanged at $8000
So basically they will allow E15 (gasoline that is 15% ethanol) to be sold this summer. This is very interesting because much of the Ethanol comes from Corn, and because fertilizer prices are so high, farmers are switching from Corn to Soybeans. Wonder where this all leads....
Ohio is among the states expecting to plant a record number of soybean acres, at 5.1 million acres, up by 4% from 2021, in line with the national expectations. Pennsylvania dropped by 3% in soybean acreage, to 560,000 acres.
Both states dropped in expected corn acreage, Ohio by 6% to 3.35 million acres, and Pennsylvania by 8% to 1.23 million acres.
The following user says Thank You to SMCJB for this post:
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, SI, Bitcoin & Ether
Posts: 4,573 since Dec 2013
Thanks: 3,888 given,
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First update in 2 months!
CRUDE OIL MARGINS EFFECTIVE 2ND JUNE
Maintenance margin as follows (Initial Margins, ie non-member rates will be 110% of these)
Tier 1 / Jul22 decreasing from $8750 to $8350, -$400
Tier 2 / Aug22 decreasing from $8500 to $8250, -$250
Tier 3 / Sep22 decreasing from $8300 to $8000, -$300
...
Tier 6 / Dec22 decreasing from $7700 to $7400, -$300
...
Tier 18 / Dec23 decreasing from $5750 to $5650, -$100
