Mixed Messages Coming Out Of The Austin Chalk -- Some Selling; Some Buying -- November 19, 2019

Austin Chalk: From SeekingAlpha earlier this year -- September 25, 2019 -- COP looks to sell assets in their Lousisian Austin Chalk play.

ConocoPhillips has placed on the market its entire 234K-acre holding in Louisiana's Austin Chalk play, only a year and a half after first unveiling its stake, Upstream reports.

COP COO Matt Fox discussed the disappointing results in July, pointing to oil rates of just 100 bbl/day. "It's just unlikely to be enough to justify a development in that part of the play."

Three out of COP's four test wells so far in Louisiana have produced more than 90% water and not enough oil to justify big investments, Fox said.

The Bakken: Lynn Helms recently said the best play in the US right now -- bar now -- is the Bakken. Period. Dot.

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The market: well that's a bummer. After being up (green) just before the market opened, I see that the Dow is now down about 48 points.

• AAPL: it had been up about a dollar before the open; now barely in the green;
• BRK-B: flat; down 2 cents on a $219-share stock
• SRE: down slightly
• UNP: actually up slightly; I would have thought it would have followed the market down
• EW: wow, what a surprise; up another $2.04 right now; huge surprise; I wish I had EW in my portfolio (I don't): LOL
• XLNX: up a bit; riding the coattails of other chip stocks

Hey, lots of talk right now about QCOM. A momentum stock it should be moving up. It isn't.

• QCOM: down a bit
• WMT: down slightly (down 3 cents on a $120-share stock
• ARAMCO: shows up as a "private company"; share price not available