SandRidge Energy Inc (SD)

[jtomm]

Freeport LNG situation

I hadn't checked on the status of Freeport in a while, but there are two interesting things that have occurred.

1) Contrary to what I was guessing, it looks like they have already reached a consent degree with the govt that will allow them to get back to near full operations EARLIER than expected. The reason? The story has changed to where it has now been determined that it was human error and not a faulty piece of equipment that caused the explosion. That led to . . . .

2) Force Majeure was apparently retracted in late June, something that went previously unreported. This may have added to the buying pressure for natgas in the futures market.

https://gcaptain.com/freeport-lng-set-to-restore-production-at-key-lng-export-facility-in-october-earlier-than-anticipated/

https://oilprice.com/Latest-Energy-News/World-News/Freeport-LNG-Retracts-Force-Majeure-Leaving-Buyers-On-The-Hook-For-8-Billion-I.html

http://freeportlng.newsrouter.com/news_release.asp?intRelease_ID=9748&intAcc_ID=77