ResNet Review

Volume 15

ResNet Review is the Energy Newsletter for the Shalennial Generation

Here’s our top Energy Headlines for February:


  • An unusually warm winter and roaring U.S. output have pushed natural-gas prices to some of the lowest levels of the shale era. Adjusted for inflation, natural-gas futures recently hit their cheapest prices since trading began on the New York Mercantile Exchange in 1990.

    • This is not fun. We’ve got an industry full of genius engineers and bright innovators discovering and unlocking massive reservoirs of natural gas trying to squeak out a marginal profit at best, meanwhile my idiot brother-in-law is up 147% YTD trading his fake internet tokens.

  • This is good news for American consumers, who can look forward to lower utility bills. Americans’ gas costs in January were about 18% lower from a year earlier, according to the Labor Department.

    • Please don’t mention this at the next environmentalist rally. Fracking is evil and there are no benefits to the American Consumer.

  • Chesapeake said this past week it would cut its 2024 spending by 20% from earlier plans and throttle back output by roughly 20% compared with last year. Gas futures rose more than 12% in response to Chesapeake’s cuts, the biggest daily gain since June 2022.

    • Great start, but why stop at 20%? Our model suggests that in order to get gas prices back to $2 we would actually need to see a 100% production cut from CHK. As well as EQT. Aethon too. And for the love of God please also Comstock.

  • Meanwhile, demand has been unusually low. Big heating markets including Minneapolis, Cleveland, Pittsburgh and Fargo, N.D., are experiencing their mildest winters in records dating back to 1950, according to the Midwestern Regional Climate Center.

    • Need this A.I. boom to 100X power demand for data centers asap. Honestly, don’t care if the A.I. robots eventually turn on us and try to take over the world… if they can just fill this demand gap first.


  • NAPE — where deals happen — the world’s largest prospect energy expo, had a 47% YoY increase in pre-registrations. “This impressive increase in attendees serves as a testament to the value this premier event brings to the energy sector,” said NAPE Vice President Le’Ann Callihan.

    • NAPE was huge this year. NAPE really is where deals happen. Look no further than Diamondback buying Endeavor for $26B. You think that deal happens without NAPE? Autry Stephens holds out selling his company for 45 years and you think it’s a coincidence he does his deal the week after NAPE hits record attendance? Guy clearly got hammered at the K&E happy hour and couldn’t resist the NAPE deal-making vibes. Legend.

  • One World Petroleum, a company no one had ever heard of, made a huge splash with a $100,000 booth. The booth garnered much chatter on X (formerly Twitter) as attendees attempted to uncover how an unknown company could afford such an opulent showcase. According to a press release, “One World Petroleum is a growing enterprise that transitioned from the real estate investment industry to the dynamic world of oil and gas.”

    • We actually like this strategy from One World Petroleum. Why wait to buy assets to light money on fire when you can just spend $100K on a booth at NAPE to get your feet wet?

  • According to One World Petroleum’s press release, part of their thesis for transitioning from real estate to oil and gas is  “In the oil and gas sector, assets do not come with the intricacies of tenants and all the problems stemming from consumer-based interactions. This absence of the tenant factor is a pivotal advantage that allows investors to focus on the core operations of the business.”

    • “The absence of a tenant factor”. Huge. Ask anyone who’s ever been successful in oil and gas what lead to their success and you’ll often here the same answer: “No tenants”

      • (Side note: imagine how pissed this guy is going to be when he Googles “what is a landowner?”)

Best of EFT

AI Generated Image for the Well Name of the Month Goes To…

Well Name:

Valentine Unit 1H




Dodridge County, WV


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A Little About ResNet

ResNet AI Inc. is an oil and gas software company that specializes in operations surveillance and asset management software, as well as bespoke digital & reservoir services. Our mission is to Unite the Field & Office towards common corporate objectives. Our software and services are purpose-built for oil & gas applications, and if this newsletter isn’t testimony to that - then you should check out Tinder for the Oilfield, or WellTender, or as we Shalennials call it: Tender 🔥 - where you can swipe right, swipe left, and get the right guy to the right job at the right time 😎

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