USA Women's - Sweden -- 2 - 0 -- June 20, 2019

Soccer, world cup, women's. US team advances to final 16. Link here.

Two brackets. The final 16 round, June 22 - June 25.

US plays Spain, June 24.

By losing to the US, Sweden avoids France (unless both get to the finals). Sweden and France are in different brackets. France is ranked fourth. Rankings here.

On June 28, assuming the US beats Spain, the US will face the winner of the France - Brazil game (June 23).

So, while the US might face high-ranking France early, Sweden could face even higher-ranked Germany (ranked #2) at the same time.

Bottom lines, link here:

• no games until June 22, 2019 (Saturday)
• games Americans will be watching
• top bracket
• US vs Spain (Monday)
• France vs Brazil  (Sunday)
• bottom bracket
• Sweden vs Canada (Monday)
• Germany - 3 vs Nigeria - 0 

First update: Norway defeats Australia

• June 22, 2019: Norway vs Australia, full time, 1 - 1
• Norway wins on penalty shots (4 - 1).
• First time since 2003 that Australia did not get to the quarter finals, the final 16.

Second update:

• England beats Cameroon, 3 - 0
• France beats Brazil, 2 - 1.
• if the US defeats Spain on Monday (June 24, 2019), the US will play the winner of today's France/Brazil match)

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Notes to the Granddaughters

Flashback, to 2016:

Sophia taking care of the pool

Bakken Update Over At Oilprice -- June 20, 2019

Link here.

Previously reported / posted.

Emphasizes rig count. Ignores DUCs and inactive wells.

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Harold Hamm To Keynote EnerCom

Denver, CO -- August 13, 2019

PR link here.

California Utility Hits New High --SRE -- June 20, 2019

SRE hit a new 52-week high, which I believe is an all-time high. This is a utility trading at almost 40x earnings.

AAPL is trading at 17x earnings.

Which reminds me, I need to watch Vertigo again some evening.

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 what you think you may have read here.

Random Look At Jump In Production Of A Well One Quarter Mile Away From Recently Fracked Wells -- June 20, 2019

This well has not been re-fracked.

It is one-quarter of a mile west of fracked wells. See this post. Originally reported here.

The well:

• 16791, 436, BR, Demicks Lake 41-18H, Dimmick Lake, t3/08; cum 152K 4/19; 

Production data of interest:

BAKKEN	10-2018	31	3617	3730	593	6011	5934	0
BAKKEN	9-2018	30	4206	4140	695	8896	8822	0
BAKKEN	8-2018	31	6010	6223	1300	12113	12036	0
BAKKEN	7-2018	31	3367	3020	1066	4472	4395	0
BAKKEN	6-2018	0	0	0	0	0	0	0
BAKKEN	5-2018	8	280	208	1	441	421	0
BAKKEN	4-2018	30	0	0	0	115	17	24
BAKKEN	3-2018	27	2484	2564	296	3771	3704	0
BAKKEN	2-2018	28	5171	5621	1170	7369	7299	0
BAKKEN	1-2018	31	2726	2403	1230	3567	3490	0
BAKKEN	12-2017	27	2777	2812	1241	4082	3961	54
BAKKEN	11-2017	30	4628	4869	1671	5654	5580	0
BAKKEN	10-2017	6	1035	700	2708	913	712	186
BAKKEN	9-2017	20	40	0	100	78	0	28
BAKKEN	8-2017	31	65	0	2	108	12	19
BAKKEN	7-2017	28	59	0	5	115	30	15
BAKKEN	6-2017	30	101	226	1	106	29	3
BAKKEN	5-2017	31	71	0	1	112	35	0
BAKKEN	4-2017	25	63	221	206	132	70	0

Random Update Of Two Incredible CLR Wells In Elm Tree -- June 20, 2019

This page will not be updated.

I was just curious how these two wells were doing.

Charolais:

• 32605, 1,995, CLR, Charolais North Federal 1-3H1, first bench of Three Forks, Elm Tree; 46 stages, 10 million lbs; bottom hole location 204' FSL & 1320' FEL, SWSE 10-153-94; 1280-acres; sections 3/10-153-94; t9/15/16; as of 12/16: cum 614K 4/19; 
• oil: 613,812 bbls
• gas: 951,491 MCF = 158,555 boe
• total cum: 772,367 boe in about 2.5 years

Production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2019	27	8885	8894	2643	15879	4166	11381
BAKKEN	3-2019	31	10911	10926	3740	20690	19542	748
BAKKEN	2-2019	28	10365	10444	3410	18668	17407	906
BAKKEN	1-2019	31	11419	11335	3667	15904	12852	2678
BAKKEN	12-2018	31	12333	12319	4117	15889	9635	5846
BAKKEN	11-2018	30	11819	11793	3816	15997	10041	5565
BAKKEN	10-2018	31	11616	11692	3570	14490	3633	10467
BAKKEN	9-2018	29	11437	11060	3345	14418	11527	2530
BAKKEN	8-2018	30	10294	10723	3292	15814	14254	1216
BAKKEN	7-2018	31	12988	12972	4568	32143	30775	955
BAKKEN	6-2018	30	13420	13297	4771	34214	33641	176
BAKKEN	5-2018	31	14948	15127	5594	36534	35666	619
BAKKEN	4-2018	30	15530	15544	5228	25733	24723	771
BAKKEN	3-2018	31	16337	16229	5435	19918	19461	220
BAKKEN	2-2018	28	12462	12496	3901	19269	18714	354
BAKKEN	1-2018	31	17255	17405	5849	27394	26437	712
BAKKEN	12-2017	31	18643	18591	6731	27060	26805	5
BAKKEN	11-2017	29	17824	17843	5856	23354	23026	102
BAKKEN	10-2017	31	20426	20388	7331	31162	24594	5823
BAKKEN	9-2017	30	20320	20264	6657	35733	34051	945
BAKKEN	8-2017	31	23352	23289	8169	40150	39224	158
BAKKEN	7-2017	31	26694	26727	9495	47335	46091	480
BAKKEN	6-2017	30	27719	27841	8859	46276	44924	1112
BAKKEN	5-2017	31	32337	32308	10245	50356	49745	363
BAKKEN	4-2017	30	31333	31485	10461	47452	47126	92
BAKKEN	3-2017	30	29314	29310	8732	42244	40678	1344
BAKKEN	2-2017	28	29471	29112	11265	45275	43935	1118
BAKKEN	1-2017	31	33296	33542	11272	49681	47084	2382
BAKKEN	12-2016	31	33811	33418	10375	46182	43032	2949
BAKKEN	11-2016	24	32850	32680	10195	39233	34657	4426
BAKKEN	10-2016	29	17916	18270	7053	25437	19344	5861
BAKKEN	9-2016	15	16429	16044	4356	11599	11216	320
BAKKEN	8-2016	2	58	0	102	8	0	0

Brangus:

• 32606, 2,305, CLR, Brangus North 1-2H2, Elm Tree, second bench of the Three Forks, 46 stages, 10 million lbs; 19 days of total drilling; within the target zone 94% of the total 9,852' of lateral section; this well is easily exceeding a 900,000 EUR type curve; link here; additional information here; and here; cattle names here; bottom hole location 236' FSL & 2014' FWL, SESW 11-153-94; March, 2016, a name change from Brangus Federal 1-2H1 to Brangus North 1-2H2; 1280-acre unit, sections 2/11-153-94; t9/2/16; cum 589K 4/19 oil;
• oil: 588,905 bbls
• NG: 995,097 MCF = 165,822 boe
• cum: 754,727 boe in less than three years

Production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	4-2019	27	8019	8008	3152	16505	9504	6363
BAKKEN	3-2019	31	9092	9096	3899	23444	22241	423
BAKKEN	2-2019	28	8768	8814	3729	22798	20966	1138
BAKKEN	1-2019	31	9812	9764	4052	23271	19924	2578
BAKKEN	12-2018	31	10383	10418	4490	26795	18417	7581
BAKKEN	11-2018	30	10830	10823	4702	24334	21269	2302
BAKKEN	10-2018	31	11659	11701	4947	21670	6407	14501
BAKKEN	9-2018	28	9187	8879	4231	16660	14506	1467
BAKKEN	8-2018	30	8375	8750	3738	18697	17071	943
BAKKEN	7-2018	31	12630	12612	5390	22899	21935	156
BAKKEN	6-2018	30	12890	12796	5612	23093	22219	99
BAKKEN	5-2018	31	14100	14212	5991	25201	23379	505
BAKKEN	4-2018	30	12610	12218	5765	22948	20425	1281
BAKKEN	3-2018	31	12911	13348	4993	28476	26229	1032
BAKKEN	2-2018	28	11789	11782	4574	23954	18633	4265
BAKKEN	1-2018	31	15107	15158	6130	27534	23552	2700
BAKKEN	12-2017	31	15647	15570	6775	36376	33227	1844
BAKKEN	11-2017	30	16089	15935	6465	34227	31174	1803
BAKKEN	10-2017	31	17157	17229	7336	31572	27568	3235
BAKKEN	9-2017	30	17493	17449	7769	32007	28470	2776
BAKKEN	8-2017	31	19091	18928	8235	37018	35971	253
BAKKEN	7-2017	31	20893	21067	9674	37914	37025	150
BAKKEN	6-2017	30	19417	19538	10496	29067	26406	1018
BAKKEN	5-2017	31	22644	22700	10583	36774	34419	631
BAKKEN	4-2017	30	24397	24333	10183	37875	37103	49
BAKKEN	3-2017	31	27483	27535	10663	39234	38146	860
BAKKEN	2-2017	28	26466	26511	11752	38396	36638	1537
BAKKEN	1-2017	31	31501	31527	12672	43848	43048	554
BAKKEN	12-2016	31	26533	26022	8598	35159	30589	4367
BAKKEN	11-2016	30	35708	36247	15267	49219	45399	3608
BAKKEN	10-2016	31	41898	41780	17229	57029	39988	16799
BAKKEN	9-2016	30	46934	46730	16786	50321	41850	8232
BAKKEN	8-2016	2	1392	1000	718	782	773	0

Five New Permits; WTI Surges; Active Rigs At 64 -- June 20, 2019

For the archives: this was the day that it was reported that Iran claimed to have down a $100-million US drone.  WTI surges over 5%; up for $3/bbl.

Active rigs:

$56.86	6/20/2019	06/20/2018	06/20/2017	06/20/2016	06/20/2015
Active Rigs	64	62	56	29	77

Six new permits:

• Operators: BR (3); Petroshale (2)
• Fields: Elidah; Croff;
• BR has permits for a three-well West Kellogg pad in lot 3/section 6-151-97, Elidah oil field
• Petroshale has permits for a two-well Anderson South pad in section 15-149-96, Croff oil field

Two permits renewed:

• Whiting: a Pronghorn State Federal permit in Billings County
• Slawson, a Jore Federal permit in McKenzie County

Six producing wells (DUCs) reported as completed:

• 35577, n/d, CLR, Carus ... , Cedar Coulee, no production data,
• 35548, n/d, CLR, Carus ... , Cedar Coulee, no production data,
• 35549, n/d, CLR, Carus ... , Cedar Coulee, no production data,
• 35550, n/d, CLR, Carus ... , Cedar Coulee, no production data,
• 35578, n/d, CLR, Carus ... , Cedar Coulee, no production data,
• 35547, n/d, CLR, Carus ... , Cedar Coulee, no production data, 
• neighboring wells
• 21974, IA/379, CLR, Carus...t7/13; cum 292K 2/19; off line as of 2/19;
• 16648, IA/508, CLR, Carus...t8/07; cum 302K 2/19; off line as of 11/18;
• 24223, IA/400, CLR, Hawkinson ..., Oakdale, t9/13; cum 335K 3/19; offline as of 3/19;
• 24224, IA/681, CLR, Hawkinson ..., Oakdale, t9/13; cum 411K 3/19; offline as of 3/19;
• 24225, IA/809, CLR, Hawkinson ..., Oakdale,  t10/13; cum 228K 3/19; offline as of 3/19;
• 18275, IA/1,020, CLR, Hawkinson ..., Oakdale,  t2/10; cum 714K 3/19; offline as of 3/19;

Notes From All Over -- Part 8 -- June 20, 2019

Following this report, TSLA drops 3% on a day that the market is surging.

Until I saw this, it was my impression that Tesla was going to have an incredible quarter.

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The Macroeconomics Page

It was my understanding this should not happen --

US debt estimated to be $22 trillion ...

Ten-year Treasury yield drops below 2% ...

Wouldn't one expect the Treasury yield to surge after the US is shown to have $22 trillion in debt? Knowing that the US will have to inflate its currency in the future, wouldn't an investor in US bonds want a higher return? Maybe I'm missing something. 

By the way, $12 trillion in non-US global bond debt is at a negative yield.

Cognitive dissonance.

******************************************

There Won't Be Anymore

From wiki:

"There Won't Be Anymore" is a song written and recorded by Charlie Rich. Recorded in the 1960s, it was released as a single at the end of 1973, and was his fourth No. 1 hit on the Billboard Hot Country Singles chart in March 1974, and a top 20 pop hit as well.

Rich's version was recorded during his stint at RCA's rhythm and blues subsidiary, Groove Records, and his association with producer Chet Atkins, one of the architects of the Nashville Sound.

Like many of Atkins-produced songs of the era, "There Won't Be Anymore" featured choral backing and strings, a style prominent on other Rich recordings of the time. The song also featured a saxophone solo at the introduction and again during mid-song bridge. Allmusic reviewer Stephen Cook said that Rich's musical style "landed somewhere between the raw sound of his Sun hits ... and the pop crossover tone of his Epic smashes."

Although recorded in the mid-1960s, "There Won't Be Anymore" was not released as a single until 1973, after Rich had million-selling hits on Epic with "Behind Closed Doors" and "The Most Beautiful Girl." Rich's chart success led the labels that owned his older recordings—RCA, Mercury and Sun—to look for potential hits among the Rich tracks in their vaults. One of the first such songs to be released as a single was "There Won't Be Anymore." An earlier blues version of "There Won't Be Anymore" was recorded at Sun by Rich in the late 1950s/early 1960s.

Issued in December 1973, at the time his Epic single "The Most Beautiful Girl" was peaking in popularity, "There Won't Be Anymore" quickly became Rich's fourth #1 song overall, and the first of his five chart-toppers during 1974.

The four-year span from 1973 to 1977 was perhaps the most "explosive" in my life, my "coming of age." I know of no other four-year span in my life that was so "event-filled."

From my journal entries:

1974 - 1975

• Off and on with B_____ C______

Songs:

• Charlie Rich, 1974 his big year:  
• The Most Beautiful Girl 
• There Won’t Be Anymore 
• A Very Special Love Song 
• I Don’t See me In Your Eyes Anymore 
• I Love My Friend, She Called Me Baby  
• Diamonds and Rust, Joan Baez, released, July, 1975

Notes From All Over -- Part 7 -- June 20, 2019

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 what you think you may have read here.

Fish: Holy mackerel -- one drone gets shot down over international waters, and NOG surges almost 10%. Trading at $2.25 is up 19 cents/share, or 9.2233% -- it has been higher throughout the morning. JAG up 3.6%, trading at $8.41. CVX up 1.22%, trading at $124.39.

Iran claims it shot down the US drone. This tells me how dire things have become for Iran. They are risking much to continue their nuclear weapons program. The drone? $100 million.

WTI: up over 5.5% right now (10:54 a.m. CT, June 20, 2019), up $3.00, trading at $56.96.

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The Cute Granddaughter Page

All she needs is a bit of Chanel.

The Hess EN-Anderson Permits -- June 20, 2019

New wells:

• 38735, conf, Hess, EN-Anderson-156-94-1819H-2, Manitou;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2022	30	11664	11646	15924	24199	23814	385
BAKKEN	10-2022	29	10524	10535	17439	20097	19777	320
BAKKEN	9-2022	30	13985	14026	37523	28205	27783	422
BAKKEN	8-2022	26	22896	23001	90112	45566	44050	1516
BAKKEN	7-2022	19	23202	22996	64322	39402	23489	15913

• 38734, conf, Hess, EN-Anderson-LW-156-94-1819H-1, Manitou;
  

Date	Oil Runs	MCF Sold
11-2022	13030	30860
10-2022	14824	29015
9-2022	22882	42262
8-2022	28302	45923
7-2022	21226	19738

Original Note

Production:

• 36603, 3,416, Hess, EN-Anderson-LE-156-94-1820H-11, 33-061-04514, Manitou, t11/20; cum 126K 3/21; 227,901 bbls water; 32 stages; 11.932 million lbs proppant; see this note;
• 36604, 2,567, Hess, EN-Anderson-LE-156-94-1820H-7, Manitou, t11/20; cum 78K 3/21; see this note; 9.4 million gallons of water;
  

Disclaimer: This was done quickly so there may be some factual and typographical errors, but the general point remains. If this is important to you, go to the source.

The seven Hess EN-Anderson permits, all in SESW quadrant of section 20-156-94; 2560-acre spacing, sections 17, 18, 19, and 20-156-94;

• 36600, 1,400, Hess, EN-Anderson-LE....H-11, Manitou, TF1, bottom hole: 104 FSL 113 FWL; t11/20; cum 170K 11/22;
  
• 36601, 2,626, Hess, EN-Anderson-LE....H-10, Manitou, MB, bottom hole: 104 FSL 816 FWL; t11/20; cum 251K 11/22;
  
• 36602, 2,167, Hess, EN-Anderson-LE....H-9, Manitou, TF1, bottom hole: 107 FSL 1519 FWL; t11/20; cum 192K 11/22;
  
• 36603, 3,416, Hess, EN-Anderson-LE....H-8, Manitou, MB, bottom hole: 109 FSL 2221 FWL; t11/20; cum 280K 11/22;
  
• 36604, 2,567, Hess, EN-Anderson-LE....H-7, Manitou, TF1, bottom hole: 109 FSL 2353 FEL; t11/20; cum 202K 11/22;
  
• 36605, 2,203, Hess, EN-Anderson-LE....H-6, Manitou, MB, bottom hole: 109 FSL 1650 FEL; t11/20; cum 294K 11/22;
  
• 36006, loc/A, Hess, EN-Anderson-LE....H-5, Manitou, TF1, bottom hole: 111 FSL 919FEL; date, 1/19; t--; cum 340K 11/22;
  

In other words, the laterals all end at about the same distance from the south line of section 20.

The TF first bench and the middle Bakken wells are probably vertically separated by about 40 feet.

The horizontal separation in the middle Bakken was about 1,400 feet; the horizontal separation in the first bench, Three Forks, was also, almost exactly 1,400 feet. 

The numbers in parentheses were rounded to near 10-feet; and is the distance from the well listed immediately before:

• The TF first bench wells:
• 113 FWL
• 1519 FWL (1400 feet)
• midline (5260/2 = 2630 feet)
• 2353 FEL (1400 feet)
• 919 FEL (1400 feet)
• The middle Bakken wells:
• 816 FWL
• 2221 FWL (1400 feet)
• midline (5260/2 = 2630 feet)
• 1650 FEL (1400 feet)

The two producing wells in the immediate area:

• 17887, 165, Hess, EN-Joyce-156-94-1720H-1, OH frack, 1.3 million lbs, Manitou, t6/09; cum 87K 9/19; cum 109K 11/22;
  
• 17954, IA/303, Hess, EN-Anderson-156-94-1918H-2, OH frack, 1.3 million lbs, Manitou, t7/09; cum 117K 7/19; cum 133K 5/22;
  
• both are likely to be re-fracked at time the new EN-Anderson-LE wells are fracked, or they might benefit from parent-well uplift; 

The graphics:

Comment: the horizontal spacing was very, very generous.

Notes From All Over -- Part 6 -- June 20, 2019

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 what you think you may have read here.

This tells me all I need to know about:

• fake news
• social media
• investing: staying the course

This tells me even more. Link here.

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The Alexa Page

How cool is this! One can say "Alexa, pay my electricity bill," and poof! Your electric bill is paid.

Link here.

And, of course, as soon as the bill is paid, one receives a confirmation via e-mail.

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The Book Page

My travel book: Bloom's BioCritiques: Herman Melville, c. 2006.

Notes From All Over -- Part 5 -- June 20, 2019

Best headline so far today: link here. Obama's "Clean Power Plan" to never see the light of day. Looks like 24 Democrat hopefuls have a new talking point -- why Trump needs to be defeated. That, on reparations.

Jobless claims: link here.

• prior: 222K
• forecast: 220K
• actual report: 216K
• new claims down 6,000 

Notes From All Over -- Part 4 -- June 20, 2019

Biggest story not being reported: global warming not helping out.

Torrential rain of biblical proportions is causing immense devastation for midwest farmers -- zerohedge. Bismarck Tribune also has story on the flooding: high water and flooding is delaying critical shipments of goods through inland waterways like the Mississippi river. 

WTI surging. Why: from twitter --- WTI crude surges 3% after reports say Iran shoots down US military drone. We'll see. WTI is up over 3.5%% right now (7:37 a.m. CT, June 20, 2019); up almost $2/bbl; trading just under $56 ($55.88).

Rig counts: a lagging indicator.

Norway: my hunch -- Norwegians may not be happy with this --

Notes From All Over -- Part 3 -- June 20, 2019

Permian: output set to keep growing -- Rigzone. Must be a slow news day. Data points:

• EIA says Permian will post record next month (I assume that's July)
• first time the EIA has project that the Permian will surpass the 4.2 million bopd mark
• note: bopd
• EIA's "drilling report" is linked here

Lime Rock: a familiar name in the Bakken, will buy Oklahoma assets from BP -- Rigzone. Data points:

• Lime Rock: Houston-based
• assets: BP properties in Cleveland and McClain counties
• properties are 50 miles east of Lime Rock's Norge unit operations which it acquired in 2014
• this transaction is Lime Rock's eighth acquisition in Oklahoma
• apparently Lime Rock did not get the memo

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 what you think you may have read here.

Phillips 66: considering a Texas terminal project; previously posted, but can't recall if I provided a link (yes, I did, but worth it to post it again). Link here. Another timely story, previously posted --

RBN Energy: the challenging economics for crude export terminals, part 2.

Crude oil exports out of the U.S. are the topic du jour these days. At the heart of the discussion are the who, what, where and when of how the export capacity will be developed. Who is going to build the next crude oil export terminal, what type will it be (offshore or onshore), where are they going to put it (Corpus Christi, Houston, Louisiana ­­— the list goes on), and when will that new capacity be available? Everyone seems to have a different answer, and for good reason. Crude oil export terminals aren’t easy to develop, any way you look at them. Today, we examine the financial and logistical hurdles that export terminals must clear in order to reach a final investment decision, and what those obstacles mean for what kind of terminal gets built, where it gets built, who builds it and how soon.

Busy, Busy, Busy -- Minor Notes From All Over -- Part 2, June 20, 2019

Some days turn out to be so busy it will be impossible to keep up.

Politics:

• most important thing about Trump's Florida rally: US Congress will continue talk of impeachment at its own risk
• Obama was right: the circular firing squad nicks Joe Biden; Bernie is pretty much fatally wounded (politically); Pocahontas comes out of early rounds unscathed

Solar power irrelevant:

• an "avian incident" wipes out 84% of massive California solar farm on June 5, 2019, and we don't hear about it until June 20, 2019 -- or at least most of us, including Bloomberg did not hear o fit until two weeks later -- and how was the news released? In a regulatory filing. I'll have to go back through the archives to see if any media outlet reported this fire on June 5.

Best energy story from twitter yesterday:

• Italy/Eni rejects Nigerian oil shipment. "Fingerprinting" the oil shows it originated in Iran. Every day we learn just how sophisticated the oil industry is. Everyone knows that "fingerprinting" works -- but we seldom see examples of it being used in the oil industry.

Strait of Hormuz: something tells me Iran got a triple whammy of bad news -- attacking ships in the strait is no longer a "thing."

WTI: oil price "surging"? What's up?

June 30, 2019: drop-dead date for US retailers to get their orders in for Christmas, 2019. 

Dow: pre-market, up 240 points. And this is a day after the Fed does not cut rates. The 30-second sound bite -- the market is up because the Fed's language said it could cut rates if the economy weakens. The real story: the Fed, by not cutting rates, is telling the movers and shakers that the economy is doing just fine.

If the economy is doing just fine, why is the media suggesting otherwise? LOL.

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 what you think you may have read here.

Long term investors: sweet spot?

Three centibillionaires:

• Bernard Arnault, Europe's richest person: chairman of LVMH; luxury goods
• Jeff Bezos
• Bill Gates

France (link here) and why "we" have nothing to fear:

France’s multibillionaires have added the most wealth among European members of Bloomberg’s ranking in 2019, with Arnault, Kering SA’s Francois Pinault and cosmetics heir Francoise Bettencourt Meyers tacking on more than $40 billion between them. Meanwhile, the brothers behind the Chanel brand, Gerard and Alain Wertheimer, saw their fortunes soar $9.8 billion this week after the Parisian fragrance and fashion house reported its 2018 results.

Chevron: to reward shareholders after "losing" Anadarko; announces 25% share buyback.

OXY: near a decade low; CEO and general counsel are buying up shares. Barron's. 

• P/E under 10
• currently trading at $50
• one-year target: $70
• one-year target: is that a 40% gain? Check: $50 x 1.5 = $70
• pays 6%
• dividend at risk but Vicki Hollub's history suggests she will fight to save that dividend
• activist investors will keep pressure on CEO
• most recent quarterly dividend, 6/8/2019

Busy, Busy, Busy -- Minor Notes From All Over -- Part 1, June 20, 2019

Irrelevant: an "avian incident" wipes out 84% of massive California solar farm.

Link here.

Bloomberg posted the story today, June 20, 2019.

The lede:

An “avian incident” sparked a fire at one of California’s biggest solar farms, affecting 1,200 acres and knocking out 84% of the California Valley Solar Ranch’s generating capacity.

Note what is missing in that lede. I will give you some time to think about this and come back to it later.

That tells me how irrelevant solar energy is. 

From yesterday:

• Phillips 66 considering Texas terminal project: link here; 
• heavy oil coming from Canada; we don't need Venezuela, Mexico: TransMountain approved
• What if US Navy no long cares about the Strait of Hormuz?
• US debt: Nobel Laureate -- doesn't matter
• Fed rate: rate unchanged; predicted; 
• Fed nominee waiting in the wing; wants "Fed rate" at zero percent
• negative rates, bonds, $12 trillion; link here;
• parent-children wells: a problem in the Permian? doesn't seem to be a significant issue in the Bakken;
• sister wells: example -- Hess to put in seven sister wells on 2560-acre spacing; a mix of middle Bakken and Three Forks first bench wells
• Abraxas is back; corporate presentation earlier in the year -- looking to exit the Bakken
• Hess EN-Anderson permits from the other day: Hess has permits for a seven-well EN-Anderson pad in section 7-156-94, Manitou oil field; it appears that all seven may be "section line" wells (not sure about this, but all seven have "LE" in their legal name) -- stand-alone post later on this one;
• Trump raises more in 24 hours than all Democrat candidates combined raised in first quarter; link here; most interesting -- people sending money to a billionaire; raised almost $25 million in one 24-hour period -- at time of announcing his re-election campaign
• Circular firing squad nicks Biden: Pocahontas rising; confirmation? My hypothesis: Hillary war room running the DNC; if, in fact, we now start seeing major press hits on Pocahontas, it will corroborate that hypothesis
• Maduro looks to exit -- while still alive; LOL
• there won't be any more -- song -- wiki

And this is why buyers prefer buying from America --

Iran: the tanker that waited three weeks to discharge an oil cargo at the Sicilian port of Milazzo has left the terminal after Italy's Eni rejected the shipment because of quality concerns. Italian press alleged the crude could be from Iran.

The ship’s documents show that the cargo, which Eni bought from the trading arm of Nigeria’s Oando PLC, was Iraqi, an Eni spokesman said. Instead, it had properties which were consistent with Iranian crude, a person familiar with the matter said.