Monday, May 10, 2021

Six Wells Coming Off The Confidential List -- Waltons Buy 2,000-Acre Ranch In North Dakota -- May 10, 2021

The ratings are in: SNL -- third highest ratings for the "show" this past Saturday with Elon Musk and Miley Cyrus. Great headline but not saying much: SNL has been in decline for years, ratings already low, so third highest "so far" this year not all that great. Need to compare those ratings with NASCAR race yesterday, for example, for with Joe Biden's last press conference. 

Atmospheric CO2: ten days into May and we still don't have the April numbers. Link here It must take a long time to massage and vet the numbers.

RBOB gasoline: futures

First things first: Waltons buy $3.8 million ranch near Medora; link behind a paywall; unless I'm missing something this seems like a win for everyone; obviously the minerals will be orphaned;

  • agweek; paywall
  • BrainerdDispatch;
  • Rob and Melani Walton
    • 2,000-acrea ranch
    • will continue to graze; coordinate/cooperate with neighboring ranchers
    • largest benefactors of the library (see below)
    • have donated $50 million towards the library
    • target price of the library: $100 million
  • Melani Walton
    • born in Williston, ND; raised in Sydney, MT
    • native of eastern Montana; graduate of Dickinson State University
    • trustee of the Theodore Roosevelt Presidential Library Foundation
  • Rob Walson
    • once served as chairman of Walmart, founded by his father, Sam

Colonial Pipeline: yesterday I mentioned that this may become Biden's first major test. Some pundits: Biden has a week to get this pipeline open. A week. Apparently the president has declared a "state of emergency" regarding same. And just like that, America's crude oil and natural gas pipelines have become essential and a national asset. Even a caveman could see see. Big winners: truckers.

Jobless recovery: this is quite interesting; will touch on it later. 

Least important story over the weekend: Doge.

Biggest story over the weekend: Elon Musk and Miley Cyrus on SNL

Rumor: BCEI and XOG merger?

  • link here;
  • Bonanza Creek Energy: up 3.6% in pre-market trading
    • market cap: $1.1 billion
  • Extraction Oil & Gas: up 1.9% in pre-market trading
    • market cap: 1.1 billion

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

Cardinal Health: raises dividend. 49.1 cents, up from 48.6 cents; record date, 7/1/21; payable 7/15/21.

Back to the Bakken

Active rigs:

Active Rigs1719666050

Six permits coming off the confidential list --

Monday, May 10, 2021: 18 for the month, 42 for the quarter, 123 for the year:

  • 37633, conf, BR, Cherry Blossom 1S MBH,
  • 36920, conf, MRO, Adonijah USA 44-5TFH-2B,

Sunday, May 9, 2021: 16 for the month, 40 for the quarter, 121 for the year:

  • 37632, conf, BR, Cherry Juice 1T TFH,

Saturday, May 8, 2021: 15 for the month, 39 for the quarter, 120 for the year:

  • 37631, conf, BR, Cherry Danish 1U MBH,
  • 37093, conf, MRO, Ruggles 14-33H,
  • 36810, conf, Zavanna, Blue Heeler 20-17 1TFH,

RBN Energy: how Plains' Crane terminal help move Permian crude oil to market, part 4. 

Plains All American has an extraordinary collection of crude oil gathering systems and shuttle pipelines in the Permian Basin, as well as full or partial ownership interest in a number of long-haul takeaway pipelines to the Gulf Coast and the Cushing hub. As important as many of these individual systems and pipelines may be, it’s the interconnectivity among these assets — and especially Plains’ crude oil terminals in Midland and other West Texas locales — that gives the midstream giant’s Permian infrastructure a value far greater than the sum of its parts. 

Today, we’ll discuss the important role that Plains’ two terminals in Crane, TX, play in balancing the midstream company’s Permian crude oil delivery network and providing destination optionality.In today’s blog, we build on that by discussing a very different pair of terminals at Crane, namely Plains All American’s eastern and western facilities, which are just part of Plains’ broad, far-reaching, and highly integrated midstream network in the Permian.

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