Two New Permits -- January 29, 2020

Disclaimer: earnings done quickly; on the run; content and typographical errors likely. Dynamic. 

Tesla: shares up 4% after report; $621/share; up $40; up almost 7%; later shares up $68, up almost 12%;

• earnings: 21 cents better than expected; $2.14 vs $1.72;
• revenue: $7.38 billion vs  $7.02 billion
• Tesla: makes 500,000 cars
• Ford: makes 5,000,000 cars
• Tesla market cap greater than GM/F combined

Microsoft:

• very strong beat
• revenue: better than expected, and the bar was set high by analysts; $36.9 billion vs $35.68 billion;
• EPS: $1.51 vs $1.32
• MSFT: up $1.47; then earnings released; up $3.47

Facebook: not as good as investors had wanted; whisper number not mentioned;

• EPS: $2.56; a 3-cent beat
• revenue, $21.08 billion vs $20.89 billion; lightly higher than expected
• trading down $13.43; down 6% in after-hours trading
• investors unhappy

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.

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

Back to the Bakken

Bakken production going forward, 2020, Platts link here, data points (archived):

• North Dakota Bakken shale gas production projected to climb 10% in 2020
• production grew 20% in 2019
• five processing facilities to come online, expand
• Bakken gas production is expected to grow by 10% in 2020, before slowing down to about 4% annually from 2021 through 2025,
• last year (2019), Bakken producers relied on well completions, or bringing drilled but uncompleted wells online, to keep production growing. However, one of the lingering constraints within the basin is insufficient processing capacity and natural gas takeaway, which has caused producers to consistently miss gas capture targets established by the North Dakota Industrial Commission.To combat the issue there has been a push for additional infrastructure and as a result: four gas processing plants came online during the second half of 2019 and another five are in the planning stages with in-service dates spread out over the next two years. 

Active rigs:

$53.14	1/29/2020	01/29/2019	01/29/2018	01/29/2017	01/29/2016
Active Rigs	54	64	57	38	45

Two new permits, #37356 - #37357, inclusive

• Operators: EOG, Whiting
• Fields: Clarks Creek (McKenzie); Pronghorn oil field (McKenzie County)
• Comments:
• EOG has a permit for a Clarks Creek well in Sanish-Antelope, section 7-151-94; from the daily activity report, January 28, 2020;
• Whiting has a permit for a Helling permit in Pronghorn oil field, section 19-150-101 

permits renewed: pending
permits canceled: pending
producing wells (DUCs) reported as completed: pending