WTI Settles Solidly Below $50; OPEC In A Panic -- February 4, 2020

Updates

Ouch: Tesla plunges. 

Original Post

Acquit: US Senator Susan Collins will vote to acquit Trump. Announced at 3:15 p.m. CT, today. How will Mitt Romney vote? He's already been dis-invited to the CPAC event this year after voting to extend the US Senate impeachment trial.

Boom: NASDAQ up 210 points; hits a brand new all-time intra-day high.

• AMZN: up $54; up 2.7%; now trading at an all-time high, 2,058
• TSLA: incredible; hit $960 intra-day; closes at $887
• MSFT: hit an all-time high today
• DIS: beats
• F: tanks

Is 2019-cNoV already plateauing? We're coming up on two weeks when "ground zero" was shut down. Five million folks "escaped" Wuhan before it was shut down, but we're coming up on two weeks, the incubation period, and globally not much unexpected news;

DIS: smashes expectations; EPS, $1.53 vs $1.44 forecast;

Iowa Democrat caucus results: no new information; we were originally told that the "majority" of results would be released at 4:00 p.m. Most recently I've heard that "50%" of the results will be released.

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

Back to the Bakken

Active rigs:

$49.71	2/4/2020	02/04/2019	02/04/2018	02/04/2017	02/04/2016
Active Rigs	54	63	58	40	44

Another day with no new permits? Doesn't matter! A gazillion permits were renewed.


Twenty-seven permits renewed:

• CLR (11): eleven Gordon Federal permits in Dunn County;  
• EOG (10): four Ross permits and four Liberty LR permits, all in Mountrail County; two Hawkeye permits in McKenzie County;
• Lime Rock Resources (4): a Schneider permit in Dunn County; a Garfield permit in Mountrail County; a State permit in Mountrail County; and, an Emil Veverka permit in Dunn County
• Liberty Resources (2): an Orris permit in Burke County; a Thronson permit in Mountrail County