The Market And Energy Page, T+150; Texas Acreage Sells For $46,000 / Acre -- June 19, 2017

Updates

Later, 4:00 p.m. Central Time: market closed --

• Dow closes up 140 points
• S & P 500 closes up 20 points
• Nasdaq closes up  87 points
• WTI closes at $44.14

Original Post

This is really quite remarkable:

• Dow surges 110 points -- hits new all-time record
• S & P 500 closes in on another new record, up 16 points
• Nasdaq up an incredible 72 points

Those numbers despite:

• oil and oil service companies dragging the market down with WTI less than $45
• Fed announced a rate increase just two business days ago and says it will continue to tighten

Amazon: over $1,000/share.

Grocery market share, from CNBC:

• Wal-Mart: 21%
• Target: 3%
• Whole Foods: 1% 

Hess:

• to sell New Mexico Permian assets as part of $600 million deal
• producing all of 8,200 bopd
• still considers the Bakken its premier position
• buyer: OXY
• OXY sold 13,000 acres in Texas for $600 million to pay for the Permian

Back of the envelope: $600 million / 13,000 acres = $46,000 / acre