- XOM running an "unprecedented" 60 rigs in the Permian; up three-fold from just 20 rigs a year and a half ago
- XOM: goal -- to increase Permian production to one million bbls per day by 2024 (this particular quote does not distinguish between oil or oil equivalent)
- in March 5, 2019, XOM press release, the company made it very clear that the "one million" referred to boe -- exactly what a reader wrote to tell me when I quoted a Reuters article which apparently had it wrong -- huge thanks to the reader for noting that; I was a bit "lukewarm" to the reader's report at that time; I was wrong; I apologize
- March 6, 2019, WoodMackenzie said about Permian wells:
- infill wells underperforming
- decline rates from producing wells accelerating
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.
Permian merger: I think I saw a story earlier this morning that Jagged Peak and Parsley are merging, or something to that effect. Here it is: link here. I accumulated shares in JAG some time ago assuming someone would eventually buy JAG, but nothing happened for such a long time, I finally sold JAG; at best, broke even; probably took a loss. I see that investors are not enthused about the deal. The article said both companies were trading lower. We'll see.
Early morning trading. I must have missed something. The Dow -- showing some strength at the opening -- surged around 10:00 a.m. The Dow up almost 300 points. I wonder if JPM's 3Q19 earnings had anything to do with this? The Dow is back above 27,000.
Privacy? Apple / Goldman Sachs are not (yet?) reporting AppleCard data to credit bureaus. Link here.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or think you may have read here.
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First, We Take Manhattan
XOM has a lot of BLM leases (i.e. Federal Land) in NM that they are drilling. One of the intersting speculations is that they could be negatively impacted of Fauxcahantas gets eleceted and stops fracking on Federal land. Thus, an incentive for XOM to drill hard through 20JAN2020.
ReplyDeleteNot claiming this is true. Could be silly conspiracy theory. But interesting to think about.
I don't think it's a conspiracy theory. She has said she will ban fracking everywhere. Ohio and Pennsylvania have been warned.
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