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Thursday, April 22, 2021

No New Permits; Active Rig Count Remains At Sixteen -- The Mid-Afternoon Editiion

Natural gas fill rate, link here, back above the five-year average. Except to have something to do, one almost wonders why we track this:

NOG: 1Q21 earnings - to be released May 7, 2021, before the market opens.

That Amazon union vote again: a Bloomberg op-ed

Talking with folks who have been members of a union, every time the union went on strike, it took up to two years to get back to where they were prior to the strike. The big winners in a union: the union management. 

Traders look for any reason to take a profit: the president makes a speech about something that won't happen for months, if not years, if ever (increasing taxes on capital gains), and if it does, will effect big earners only -- and the Dow drops 200 points. All I see is another buying opportunity.

Sixteen Tons, Tennessee Ernie Ford

ATT:

  • Ma Bell is back! Huge 1Q21 earnings report; all eyes on HBO subscribers.
  • link here, WSJ;
    • posted gains in wireless and media divisions
      • "piled on" more cellphone users, fiber-optic internet customers and HBO viewers
      • 44.2 million domestic HBO and HBO Max subscribers, up from 41.5 million previous quarter (4Q20);
      • added 595,000 postpaid phoen subscribers -- a highly valued category of customers
      • also posted a net gain of 207,000 prepaid phone subscribers
    • 5G spending boosted overall debt (as expected)
    • but look at this:
      • Verizon reported a net loss of 178,000 postpaid phone connections;
      • T-Mobile is expected to report its first-quarter results next month;
    • shares jumped 5% to $31.66
      • net income: $1.04/share up from 63 cents a year earlier;
      • total revenue rose 2.7% to $43.9 billion;
    • 5G bandwidth purchases:
      • Verizon: $45.5 billion
      • ATT: $23.4 billion
  • link here, MarketWatch;
    • EPS, adjusted, 86 cents/share on revenue of $43.9 billion
    • consensus: 78 cents in adjusted EPS and $42.7 billion in revenue

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Back to the Bakken

Active rigs:

$61.64
4/22/202104/22/202004/22/201904/22/201804/22/2017
Active Rigs1629625949

No new permits.

One certainly gets the feeling that operators have "shut down" awaiting the outcome of the DAPL.

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