The market: The Dow was up almost 300 points today -- the trade war between China and the US is "over." Actually, it never started. Sounds like China will buy all the farm products they can from the US. Winners: Deere and US farmers and ranchers. Losers: South American ranchers (especially Argentina) and non-US farmers around the world. Something tells me Canada will cry foul once they find China will substitute US grain for any Canadian grain it might have planned to buy.
Tesla: most recent "2025, un-callable 5.3% coupon" bonds trading for $86.75. It may not be the all-time low, but it's awful close. Bloomberg (or someone) raised TSLA's target price from current $280/share to $500/share. TSLA shares rose significantly today after that announcement.
Futures: So, futures. Look at this:
WTI: solidly above $72. And that's despite a strong (and strengthening) dollar. A strong dollar generally means less expensive oil; not this time.
Basketball: the Boston Celtics squandered a 2-game lead in the conference championship series (led 2 - 0 after the first two games) by losing two games in a row to the Cleveland Cavaliers. The series is now tied, 2 - 2. Boston was seeded #2 and Cleveland was seeded #4 in this series. Before the series started, I had no favorite. I would like to see Cleveland win now -- LeBron and the city of Cleveland "deserve" it.
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Back to the Bakken
Active rigs:
$72.52↑↑ | 5/21/2018 | 05/21/2017 | 05/21/2016 | 05/21/2015 | 05/21/2014 |
---|---|---|---|---|---|
Active Rigs | 61 | 51 | 25 | 82 | 188 |
Four new permits:
- Operator: CLR
- Field: Avoca (Williams)
- Comments: CLR has permits for a 4-well Collison pad in NWNW 24-154-100
- 33359, 2,356, Whiting, Johnson 24-7-3TFH, Truax, t4/18; cum --
- 31130, 2,184, Enerplus, Persian 147-93-06A-07H, Moccasin Creek, t4/18; cum --
- 31126, 817, Enerplus, Bengal 147-93-06A-07H, Moccasin Creek, t5/18; cum --
- 31128, 1,515, Enerplus, Tabby 147-93-06A-07H TF, Moccasin Creek, t5/18; cum --
- 31127, 2,247, Enerplus, Manx 148-93-31D-30H TF, Moccasin Creek, t4/18; cum --
- 31129, 3,204, Enerplus, Siamese 148-93-31D-30H, Moccasin Creek, t4/18; cum --
- 31125, 2,388, Enerplus, Calico 148-93-31D-30H, Moccasin Creek, t5/18; cum --
- oldest permit: 05615
- most recent permit: 30949
- in the following counties: Renville; McHenry; most of them in McHenry County
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