Locator: 50206SCHWAB.
To my broker this morning:
This is not an investment site.
Locator: 50206SCHWAB.
To my broker this morning:
Locator: 50205AI.
To extended family members: checked in for for flight. TSA security checkpoints at local airport "green" all week.
Apple:
Now, Meta, link here:
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Breakfast Of Champions
Locator: 50204CVX.
Note: in any of my blogs, there will be typographical and content errors. This blog is not meant for readers other than my extended family, but I post the blog without restrictions because this is the fastest way I can get information to my extended family members. This is not an investment site. See blog's disclaimer. Please feel free to fact check. Comments are heavily moderated.
CVX: gets an analyst upgrade; shares jump almost 3%. Link here. At MarketBeat. Pays almost 4%. For long-term investors that dividend is significantly higher than 4% on initial investment.
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Disclaimer
Briefly
Briefly:
I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken. I am inappropriately exuberant about the US economy and the US market. I am also inappropriately exuberant about all things Apple. See disclaimer. This is not an investment site. Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market. I am also inappropriately exuberant about all things Apple. And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution. I am also inappropriately exuberant about all things Broadcom.
Locator: 50203B.
Friday The Thirteenth.
Iran: there are now reports that Iran is not mining the strait. Regardless, the allies will sort that out quickly. It takes specialized boats to lay mines and the US has planes that can loiter indefinitely in an area where they have air dominance.
Iran: new leader probably wounded in an earlier attack; loss use of legs?
Iran, the nuclear option:
US KC-135: mid-air over friendly skies, western Iraq? One plane lost; four airmen killed. On the 13th day of the conflict.
Cuba: has begun negotiations with the US. Unnamed but credible source.
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Back to the Bakken
WTI: $94.31 pre-market; $95.07 in late morning trading.
New wells reporting:
RBN Energy: US E&Ps increasingly see LNG as way to get a piece of the arbitrage pie. Link here. Archived.
Ever since U.S. LNG exports commenced in 2016 from Cheniere’s Sabine Pass facility, upstream gas producers have carefully followed price differentials between Henry Hub and the prices at which LNG can be sold in other markets, notably Asia and Europe. Initially, opportunities for shippers to realize a significant arbitrage were limited, as a high proportion of U.S.-produced LNG was lifted by Asian utility players to meet their baseload supply requirements rather than traded in the burgeoning spot market. Things changed dramatically in 2022 following the Russian invasion of Ukraine, which not only led to the demise of Russian pipeline gas supplies to Europe and caused prices to spike, but also created new arbitrage opportunities for LNG shippers. In today’s RBN blog, we look at the different approaches that the “natural born drillers” in the U.S. upstream have adopted in response, each of which has a different risk/reward profile.
Gas prices at the Dutch Title Transfer Facility (TTF; green line in Figure 1 below) jumped to unprecedented levels after the Ukraine invasion, undoubtedly amplified by the fact that Russia’s state-owned Gazprom had depleted its holdings of gas in European Union (EU) storage, adding to fears of a major supply shortage. (In the year before the invasion, Russian supplies met nearly 40% of EU gas demand; see You Don’t Own Me.) That fear inevitably spilled over to other gas markets, notably Asia, causing prices — based on the JKM index (orange line) to spike — increasing the premium to the Henry Hub price in the U.S. (blue line).
Locator: 50202B.
Rivian: this may simply be a reflection of the overall market, but Rivian fell over 8% today.
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Back to the Bakken
WTI: $95.76.
Active rigs: 27.
Five new permits:
Seven permits renewed:
Three permits canceled:
Two producing wells (DUCs) were reported as completed: