The S&P Is Knocking On The "7800-Door" -- August 13, 2026

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Trading at record highs: being debated on CNBC's "Half-Time Report."

For quite some time, I've quit parking money in BRK-B and started parking money in SCHD. This is what has happened over the past year:

 Today, the S&P is again trading at all-time highs. What is BRK-B doing?

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Cerebras

What does Cerebras do?
 

Ticker CBRS -- one day after reporting stellar earnings and even more stellar guidance: down 13%.

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Disclaimer

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've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM.

Longer version here.

A Highly Successful Re-Entered Madison Well -- August 13, 2026

Locator: 513978MEDORA. 

So, is the strait opened or closed? Let's ask Bill. Bill says, "it depends on the definition of open." Trump and Netanyahu have Iran exactly where they wanted Iran: boxed in. To think it would have ended the way Trump said it would have ended was "crazy thinking."

Sports: The NBA's Los Angeles Lakers were sold for $12.5 billion. The NFL (football) team with the highest value if it were to be sold: $15.5 billion -- The Dallas Cowboys. Jimmy Jones: cash-rich, trophy-poor. Quick, name the previous owner and current owner of the LA Lakers; now name the current owner of the Dallas Cowboys. Point made.

Tech: IBM is bringing OpenAI deeper into its enterprise operations by embedding GPT-5.g, Codex, and ChatGPT.  This partnership also makes IBM and OpenAI Elite Partner.

Misery index: ticks down to y/ +7.5% (CPI but unemployment).

July supercore inflation eased to 2.48% y/y and continued its sharp decline from the recent May peak but remains above pre-pandemic average. --- Liz Ann Sonders -- Schwab.

Prescription drug prices: dropped 0.8% m/m in July; prices are now falling at fastest pace on record, -3.1% y/y. --- Liz Ann Sonders -- Schwab.

NYC rents under the socialist mayor: Manhattan rents surged to the highest level on record in July; median rent now hitting $5,000, p 6.4% y/y. -- Boomberg. 

DELL: just crossed $500, first time ever.

EVs: GM will restart its EV manufacturing plant in Ohio. 

All those fires you see on NBC Nightly News --

 

Iran: likely to monetize its military -- for a fee, will send Iranian troops to help out Russia in the Ukrainian war. Just a hunch.

Tokens: you can howl at the wind, but AI is here to stay. This is since February of this year.

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Back to North Dakota Oil -- The Madison Formation 

This Madison well was first drilled way back in 1966. In fact, it celebrated its 60th birthday this past June, whoo-hoo! 

The well:  

• 4079, 136, Scout Energy, Medora Heath-Madison Unit 19, Medora oil field, Madison formation, t6/66; cum 703K 6/26; it just came off line -

In 2023, the operators were issued a permit to re-enter the Madison:

How did that work out?

The well just went off line this past month. 

Several MRO Wells Lost Bridge Oil Field Appear Soon To Be Fracked / Completed -- August 13, 2026

Locator: 51397LOSTBRIDGE. 

Re-posting:

Locator: 46410LOSTBRIDGE. 

Updates

August 13, 2026: it appears wells in the neighborhood have been drilled to depth and are soon to be fracked / completed. 

May 7, 2026:  

• 21837, 1,398, MRO, Deep Creek USA 14-12TFH, Lost Bridge, t12/21; cum 478K 3/26;

May 7, 2026:  

• 38025, loc/A, MRO, Osking USA 14-12H, Lost Bridge, t12/21; cum 631K 3/26;

December 27, 2025: original post with maps. Rig on pad. 

December 27, 2025: wow, the original post was all the way back to December 28, 2023. There is now a rig on the pad of interest, #39668. Are the wells completed? A neighboring well off for two months, is back on line:

• 21840, 1,380, MRO, Deep Creek 21-13TH, Lost Bridge, t2/13; cum 449K 10/23; cum 489K 10/25; note production profile --; 500K 3/26;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2025	22	1326	1224	1496	3632	3350	190
BAKKEN	9-2025	0	0	0	0	0	0	0
BAKKEN	8-2025	0	0	90	0	0	0	0
BAKKEN	7-2025	25	1388	1411	1613	4606	4022	476
BAKKEN	6-2025	29	1489	1631	1921	4381	4135	139

Be sure to look at this well, this is an absolute monster well:

• 32434, 4,679, MRO, Stillwell 21-13H, Lost Bridge, t9/20; cum 587K 10/23; cum 673K 10/25; early production, and no pump, still flowing according to NDIC data; 689K 3/26; still flowing;

BAKKEN	11-2020	30	53105	52983	16649	86043	81734	1019
BAKKEN	10-2020	30	64940	65021	20539	85430	78456	3024
BAKKEN	9-2020	30	90389	89900	50636	119994	113142	1506
BAKKEN	8-2020	4	6355	5856	4005	8100	6358	1121

Original Post  

A reader updated me regarding a couple of MRO wells in this area. I've updated the wells on three pads in this area.

The wells:

Two pads:

• 39671, conf, MRO, Strobeck USA 34-12TFH, Lost Bridge, no data;
• 39670, conf, MRO, Restad USA 24-12H, Lost Bridge, no data;
• 39669, conf, MRO, Oukrup USA 21-13TFH, Lost Bridge, no data;
• 39668, conf, MRO, Banta USA 21-13H, Lost Bridge, no data;
• 39667, conf, MRO, Rothgarn USA 21-13TFH, Lost Bridge, no data;
• 39666, conf, MRO, Ratcliffe USA 11-13H , Lost Bridge, no data;
• 38025, no IP, MRO, Osking USA 14-12H, Lost Bridge, t12/21; cum 521K 10/23;  early production data:

BAKKEN	10-2022	31	35158	34942	25358	54327	48502	1244
BAKKEN	9-2022	30	33475	33473	27552	44970	42446	0
BAKKEN	8-2022	31	34087	34362	31398	45152	42025	619
BAKKEN	7-2022	2	278	0	0	638	0	620
BAKKEN	6-2022	24	15417	15421	7822	38437	37146	0
BAKKEN	5-2022	31	25017	25262	12074	56848	51667	3155
BAKKEN	4-2022	23	21445	21298	10272	41192	39288	302
BAKKEN	3-2022	31	36137	36127	16146	80094	76417	944
BAKKEN	2-2022	28	51170	51183	21839	97398	90412	3374
BAKKEN	1-2022	29	52059	52096	26999	80540	75977	877
BAKKEN	12-2021	22	55207	54707	30348	74726	56866	14086

• 21839, PNC, MRO, Kottke USA 11-13H , Lost Bridge, no data;
• 21837, 1,398, MRO, Deep Creek USA 14-12TFH, Lost Bridge, t3/13; cum 422K 10/23;
• 21838, PNC, MRO, Levi USA 11-13TFH, Lost Bridge, no data;
• 32434, 4,679, MRO, Stillwell 21-13H, Lost Bridge, t9/20; cum 587K 10/23; early production:

BAKKEN	5-2021	21	9819	9727	4875	21726	19380	1253
BAKKEN	4-2021	30	19290	19343	7743	47816	46019	0
BAKKEN	3-2021	31	24604	25028	9906	54302	50833	1313
BAKKEN	2-2021	28	26131	25827	10503	49147	46781	223
BAKKEN	1-2021	20	21429	21791	8933	37709	30865	4989
BAKKEN	12-2020	31	38346	38395	14484	63828	51798	9538
BAKKEN	11-2020	30	53105	52983	16649	86043	81734	1019
BAKKEN	10-2020	30	64940	65021	20539	85430	78456	3024
BAKKEN	9-2020	30	90389	89900	50636	119994	113142	1506
BAKKEN	8-2020	4	6355	5856	4005	8100	6358	1121

• 21840, 1,380, MRO, Deep Creek 21-13TH, Lost Bridge, t2/13; cum 449K 10/23; 

Third pad:

• 29004, 2,197, MRO, Gulbrand USA 44-12TFH, Lost Bridge, t5/15; cum 346K 10/23;
• 29003, 2,544, MRO, Victor USA 34-12TFH, Lost Bridge, t5/15; cum 250K 10/23;
• 28263, 3,031, MRO, Morean USA 34-12H, Lost Bridge, t5/15; cum 528K 10/23;
• 19667, 902, MRO, Buffalo 34-12H, Lost Bridge, t9/11; cum 287K 10/23; sporadic production in 2023;
• 19666, 1,028, MRO, Elk Creek USA 33-12H, Lost Bridge, t8/11; cum 295K 10/23; no halo effect;
• 28262, 2,622, MRO, Piper 34-12H, Lost Bridge, t5/15; cum 461K 10/23;
  

Maps:

 

Monster Well -- One Of CLR's Alfsvaag Federal Wells In Crazy Man Creek -- August 13, 2026

Locator: 51396ALFSVAAG.

See more full discussion of this well at this post.

August 13, 2026: fourteen months of production and has just gone over 400,000 bbls oil cumulative.  

Chart: 

Thursday, August 13, 2026

Locator: 51395B.
Pageviews: went over 85 million about midnight, August 12/13, 2026.

WTI: $83.14.

New wells reporting:

• Friday, August 14, 2026: 28 for the month, 69 for the quarter, 413 for the year,
• None.
• Thursday, August 13, 2026: 28 for the month, 69 for the quarter, 413 for the year,
• 42166, conf, Slawson, Shad Rap Federal 4-2-3H, 

RBN Energy: slow to start on LNG exports, Canada now has its pedal to the metal. Link here. Archived.

LNG Canada, Canada’s first large-scale LNG export terminal, didn’t load its first cargo of liquefied natural gas until June 2025, more than nine years after Sabine Pass LNG was up and running in Louisiana. But while the U.S. Gulf Coast had a big head start — and is now in the midst of another wave of LNG export project development — Canada is finally firing on all cylinders, with plans to more than triple its current export capacity of 14 MMtpa (1.8 Bcf/d) by the early 2030s. In today’s RBN blog, we’ll begin an examination of several planned projects on Canada’s west coast and why the U.S.’s northern neighbor is, at long last, building a lot more LNG export capacity.

There are at least a few reasons why the U.S. went “from zero to 60 in 3.5” (as Rihanna put it in “Shut Up and Drive”) in developing LNG export projects in the mid-to-late 2010s. For one thing, the Gulf Coast in particular had a stockpile of LNG import terminals that had been constructed just a few years earlier, when the U.S. thought it would soon need to start shipping in LNG from overseas. Those terminals (and the natural gas pipelines built to move their imported gas to market) provided a good bit of the infrastructure that would be needed for LNG export terminals. Also, the Federal Energy Regulatory Commission (FERC) and state regulators along the Gulf Coast were (and still are) supportive of LNG export development, and getting new pipelines built in Texas and Louisiana was (and still is) easy-peasy.

It was a different story in Canada, which had no LNG import terminals along the British Columbia (BC) coast to repurpose for exports and next-to-no gas pipeline capacity from its primary gas production region (the Western Canadian Sedimentary Basin, or WCSB) to potential export sites. In addition, LNG export projects needed to clear a number of Canadian and BC regulatory hurdles and were opposed by many indigenous First Nations groups whose ancestral lands would be impacted by pipeline and/or terminal development.

It took a long time — 14 years from project announcement to first cargo — but the 14-MMtpa (1.8 Bcf/d) first phase of LNG Canada (see photo below) was finally commissioned 14 months ago by co-owners Shell (a 40% stake and the project operator), Petronas (25%), PetroChina Co. Ltd. (15%), Mitsubishi Corp. (15%) and Korea Gas Corp. (KOGAS, 5%). And it took almost 12 years for TC Energy (a 35% stake) and its financial partners (KKR and AIMCo; 32.5% each) to complete the 2.1-Bcf/d first phase of their Coastal GasLink system, a 416-mile pipeline that runs from the gas-rich Montney Formation in northeastern BC to the LNG Canada site in Kitimat.