Something Tells Me The Market Has Room To Run; Eleven More Oil & Gas NDIC Permits -- April 1, 2021

Status of blog: operating at 54% of operating capacity.

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For Investors Only

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. 

This from Breitbart:

The S&P 500 closed above 4,000 for the first time in history ... stocks are now enjoying the boost from the third round of stimulus spending, a Fed that promises to be supportive for years to come, vaccinations spreading to ever-larger segments of the population, and an economy that is out-performing almost everyone's expectations.

Major indices, at the close:

• S&P 500: 4,019.87; 52-week range, 2,456 - 4,021. NEW HIGH?
• Dow 30: 33,153.21; 52-week range, 20,735 - 33,259.
• NASDAQ: 13,480.11; 52-week range, 7,288 - 14,175.
• Russell 2000: 2,253.90; 52-week range, 1,035 - 2,360.

Individual:

• CVX: 105.76; 52-week high, 113.
• COP: 54; 52-week high, 61.
• XOM: 57.39; 52-week high, 62.55.
• OKE: 51.35; 52-week high, 51.91.
• ENB: 36.83; 52-week high, 37.31.
• EPD: 22.27; 52-week high, 23.71.
• KMI: 16.84; 52-week high, 17.97.
• MNRL: 15.71; 52-week high, 17.05

WTI: up 3.87% today; up $2.29; closed at $61.45.

Headlines:

• Big Oil "beats" NYC appeal on climate change lawsuit. 😀
  
• Saudi Aramco's falling profits put vision 2030 in jeopardy. Crocodile tears.
• XOM to beat previous guidance
  

Social media:

• $2 trillion infrastructure bill could rise to $10 trillion if progressives push it through;
• energy analysts with good track records suggesting we will see $200-oil by end of year (2021);
• Saudi Arabia looking to raise production: not stated -- seasonal; Saudi Arabia burns oil for a/c;
• other OPEC+ members want to raise production to cover increased local demand
• YOLO, FOMO, YHSAY (or YHNSAY)
  

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Back to the Bakken

Active rigs:

$61.45	4/1/2021	04/01/2020	04/01/2019	04/01/2018	04/01/2017
Active Rigs	13	43	65	60	50

Eleven new permits over the past few days, #38228 - #38238, inclusive:

• Operators: RimRock, MRO, CLR, Kraken
• Fields: Heart Butte (Dunn); Bailey, Chimney Butte (Dunn), Sanish;
• Comments:
• Rimrock has permits for three more Two Shields Butte wells in SWSW 22-149-92; the wells will be sited 275' NSL and between 386' and 236' FWL;
  
• MRO has permits for one Sebastian well; one Frieda well; and, one WR Connolly well, all in NWNE 14-146-94;
  
• CLR has permits for two Jensen wells and one Mittlestadt well in NENE 17-146-95; 390' FNL and between 1029' and 1119' FEL;
  
• Kraken has permits for one Gayne well and one Jeffery wells, both are Three Forks wells, both in NESE 24-154-93;

Six permits renewed:

• CLR (4): four Gibb permits in Williams County;
• XTO: one Johnsrud permit in McKenzie County;
• True Oil: one Northern State permit in McKenzie County