The Monster Mash
The Monster Mash
A strong second quarter at its utility and construction services businesses partially offset a slow quarter at its construction materials business caused by weather-related delays and increased competition.
Second quarter earnings from continuing operations were $43.8 million, or 22 cents per share, compared to second quarter 2016 earnings from continuing operations of $46.1 million, or 24 cents per share.
Including discontinued operations, MDU Resources reported second quarter earnings of $40.6 million, or 21 cents per share, compared to a loss of $109.3 million, or 56 cents per share, in second quarter 2016.Highlights from the second quarter include:
This summer, Slawson is drilling two oil wells to the east of the recreation area, which visitors drive by as they enter the park.
After the company is finished drilling there, anticipated in the coming weeks, the rig will move to the opposite end of the park and remain for about a year as crews drill an additional 10 wells to access oil under Lake Sakakawea, said Eric Sundberg, environmental and regulatory manager.
The larger well site, known as the Torpedo pad, is about 800 feet from Lake Sakakawea and adjacent to a boat launch area, which Ritts said attracts as many as 150 to 200 boats on a busy weekend.
Slawson recently installed a 32-foot sound barrier wall around this site, the first time such a wall has been used in North Dakota, to muffle the noise from drilling and completion work, Sundberg said. The wall will be removed after the wells are completed.
A decade ago, Tesla CEO Elon Musk envisioned building an electric car that would be both thrilling to drive and affordable.
Does the Model 3 car that Musk handed off to Tesla’s first 30 customers last Friday meet that description? Almost. But Tesla still has more work to improve affordability.
The basic version of Tesla’s Model 3 car starts off at $35,000 (before incentives), which is the average transaction price of a car in the U.S. today. But the Model 3 can quickly run up into the $50,000 range if a customer adds on a few of the extra features. The fully loaded version will cost $57,000.
If a customer wants a paint color for the Model 3 that isn’t black, that’s an extra $1,000. A version with a longer battery range adds on an extra $9,000. Autopilot technology (Tesla’s self-driving car tech) will cost an extra $5,000 to $8,000, depending the level of sophistication.The other news that the "green site" failed to mention: Teslas around the world, and certainly in the US, run on coal.
The Tesla (TSLA) Model 3 launch on Friday was a big disappointment in Tesla fan circles as can be seen from fan sites such as Elekrek, TMC, and Inside EVs.
Much of the disappointment has to do with Tesla delivering a $50K car and not the $35K as it has been promising for years.
The production ramp and the delivery dates that are now being suggested by Tesla also are also causing considerable heartburn among reservation holders.
None of these and other Model 3 shortcomings should be news to our readers. We have consistently found CEO Elon Musk’s promises on Model 3 pricing and ramp to be not credible. Therefore, it should not be surprising to readers that the Model 3 launch landed with a thud.On another note, the earnings, revenues, "surprise" history for Tesla over at Market Watch.
“The company is expected to burn over $2 billion this year as it begins production of its Model 3,” Einhorn said Tuesday on a conference call discussing results at Greenlight Capital Re Ltd., the Cayman Islands-based insurer where he oversees investments.
“It’s currently only capitalized for the next three quarters. As Tesla attempts to achieve scale for the Model 3, it will depend on the capital markets’ willingness to fund it.” Tesla, which began production of its more affordable Model 3 in July and handed over the first 30 cars at an event Friday, expanded credit agreements and raised capital through equity and debt offerings ahead of the launch.
Tesla wants to make 500,000 cars in 2018, then a million in 2020. The company produced almost 84,000 vehicles last year.
With equities trading at record levels, Einhorn has endured losses on bets against stocks such as Amazon.com Inc., Athenahealth Inc. and Elon Musk’s Tesla. All have gained at least 30 percent this year.Einhorn did benefit from a bet on the decline of oil exploration company Continental Resources Inc., and his holding of pharmaceutical company Bayer AG. The hedge fund manager lamented that his strategy of favoring value over growth -- while historically a winning formula -- hasn’t worked as well in the recent rally.
The current phase of Mexico’s natural gas pipeline buildout, led by the country’s Comisión Federal de Electricidad (CFE), is nearing completion. With 22 new pipelines built or under construction, the effort has dramatically reshaped Mexico’s natural gas supply portfolio.
The capacity of the pipeline network within Mexico has been tripled with the addition of 18 new pipelines, while four new pipelines on the U.S. side of the border will add almost 6 Bcf/d of export capacity by late 2018.
As part of the building spree, CFE also initiated development of two new gas headers to be built in Texas: a 6-Bcf/d header at Waha in West Texas that was recently completed by a consortium of Carso Energy, MasTec, and Energy Transfer and the 5-Bcf/d Nueces Header, now under construction by Enbridge at Agua Dulce in South Texas. Today, we discuss CFE’s Nueces Header and its role in moving more gas south.Wow.