NOG Provides Update On Proved Reserves -- March 7, 2019

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Futures: down slightly overnight but early this morning -- perhaps after the final reading of 4Q18 GDP and jobs data came out, turned slightly positive. Final reading for 4Q18 GDP: 1.9%.

NOG. Press release. Announces that total proved reserves increased 79% to 135.5 million boe with an associated PV-10 of $2.18 billion. Much of that came with the recent acquisition but prior to the acquisition, NOG says that total proved reserves increased 38% year-over-year with an associated PV-10 of $1.52 billion. The other data point:

• proved undeveloped reserves included 97.9 net drilling locations, reflecting an average of less than 20 net organic wells per year over the five year drill schedule limitation, compared to the approximately 31 net organic wells that Northern added to production during 2018 

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Southern Border

GOP policy: catch and release.

Democrats policy: open border.

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Anti-Semitism In The US House

April 19, 1775: the shot heard around the world.

December 1, 1955: Rosa Parks refused to give up her seat to a white man on a bus in Montgomery, AL.

March 6, 2019: US House fails to vote on anti-Semitism bill.

For Muslims, the "Pelosi failure" was as big a deal as the Rosa Parks decision back in 1955. A freshman minority representative to the US House did more for her cause in the first 63 days of the new Congress than any other congressman/woman. To the best of my knowledge, Pelosi has not yet accomplished anything in the House and I doubt anything will be accomplished in the first 100 days.

Confounding things, Occasional-Cortex is now the de facto speaker for the House. Pelosi remains the "Speaker of the House." Big difference.

One cannot sugar coat this: Pelosi took a huge loss.