Wednesday, July 25, 2018

Fourteen New Permits -- July 25, 2018; FB Crashes -- Down 24% After Earnings Miss And Really, Really Disturbing Guidance

A couple of random comments before we get started:
  • for the archives, this was an incredible day for the market following President Trump and EU Jean-Claude Juncker joint presser regarding tariffs
  • WTI took a small but significant jump after that presser
  • I may be getting ahead of my headlights, but the problem in the Permian may be reflected in the Bakken -- look at the number of XTO permits today -- see below -- one could argue permit action in the Bakken could be directly related to bottlenecks in the Permian
WTI: late day surge after the president's press briefing on tariffs.  Futures are now soaring after-market.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have read here.

FB: down 24% after earnings miss. Comment: think TSLA. I think the FB correction will pale in comparison to what we could see with TSLA. The real question being asked of FB: how were analysts mislead, or were analysts guilty of "group think"? Same questions for TSLA.

Gasoline demand, link here:

***********************************
Back to the Bakken

Active rigs:

$69.287/25/201807/25/201707/25/201607/25/201507/25/2014
Active Rigs64603273192

Fourteen new permits:
  • Operators: XTO (10): Whiting (4)
  • Fields: North Fork (Dunn), Haystack Butte (Dunn), Tyrone (Williams)
  • Comments: XTO has permits for a 10-well Teddy Federal pad in North Fork/Haystack Butte in SWNW 5-148-97; Whiting has permits for a 4-well Moline pad in NENW 14-156-101;
Two permits renewed:
  • Whiting: two P Bibler permits in Williams County
Operator transfer:
  • another 27 Divide County wells transferred from SM Energy to Petro-Hunt

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.