Three New Permits; Two DUCs Reported -- September 1, 2020

CNBC: As I noted the other day, I am getting the opportunity to watch a bit more CNBC than I have had in the past.

US auto sales: pace of sales finally hits 15 million for the year, the first time the industry has hit 15 million since February, 2020, the last full month before the lock downs began. The 15-million-per-year rate is still down 11% year-over-year.

Ford: former CEO was on CNBC. Nice interview. When asked about Tesla, he said Tesla will be facing a lot of competition, including from Ford. The elephant in the room: Tesla now has literally billions of dollars to expand; I don't think the other auto manufacturers have that kind of cash -- I don't know, but it certainly seems Tesla has the momentum and access to a lot of cash. This has to be very disconcerting for a legacy auto manufacturer. 

Finally: listening to the CNBC panelists who are actively investing and trading, there almost seems to be a bit of resignation / frustration -- a feeling that the "at-home gamers" (as Jim Cramer calls them) with no experience, training, or education in investing are literally out-performing the traditional investors on CNBC. No one knows how to value these companies any more. There almost seems to be two markets: the legacy market (99% of publicly traded companies) and then the other one percent or less. If one is lucky enough to hold TSLA, AAPL, ZM, etc., one can hide a lot of losers. 

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. 

Best news for the president all day:

*********************************
Back to the Bakken

Active rigs:

	9/1/2020	09/01/2019	09/01/2018	09/01/2017	09/01/2015
Active Rigs	10	64	63	56	76

Three new permits, #37816 - #37818, inclusive -- (one was previously reported) --

• Operators: Crescent Point Energy (2), CLR
• Fields: Rainbow (Williams); Truax (Williams)
• Comments:
• Crescent Point Energy has permits for two permits in NENE 30-158-98;
• CLR has one permit for a Dallas well in Truax oil field, NWNE 25-145-95, 287' FNL and 1460' FEL

Two producing wells (DUCs) completed:

• 34953, drl/A, Petro Harvester Operating, PTL4 10-15 163-92 B, Portal, a Madison well; t--; cum 51K 7/20;
  
• 35571, SI/A, Whiting, Anderson 41-7TFH, Sanish, t--; cum 136K 7/20; best month, 24K;