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Tuesday, November 19, 2019

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.

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

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

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