Sunday, June 13, 2021

Notes From All Over -- The Sunday Night Edition -- Shell Sells Permian -- June 13, 2021


June 14, 2021: head fake? Nothing being reported today. 

Original Post 

I was thinking about Aubrey the other day -- a most extraordinary oil and natural gas wheeler-dealer. 

Wow, wow, wow, stop the presses: this was rumored earlier today, that Shell might sell its Permian assets ... breaking now --- Sable Permian Resources will acquire Shell's Permian assets for $14 billion. Link here. Why not? Sable Permian Resources emerged from Chapter 11 bankruptcy, February 9, 2021. Missed interest payment, April 3. 2020

Sable, founded by the late shale drilling pioneer Aubrey McClendon, drills in the Permian Basin in West Texas. The company, backed by OnyxPoint Global Management and Energy & Minerals Group, was able to restructure about $2.1 billion of debt in October in an out-of-court deal. But five months later, investors who received new bonds as part of the restructuring deal aren’t being paid interest.

This is so off everyone's radar scope, folks are asking whether this has been confirmed. Some say Jamie Dimon has provided his "personal guarantee." 

I can't wait to see the details. RDS-B closed up 1.14% on Friday, closed up 43 cents, closed at $38.24. RDS-B to plummet in the a.m.? Or surge? $14 billion is a lot of cash, one way or the other.

Notes From All Over

Now back to where I was five minutes ago.

To say the least, my heart is not in this. 

I think today was the first "best" day I've had so far this summer. Supposedly it was the hottest day so far this year in north Texas. I spent four incredibly difficult hours in the local park while I sweated and Sophia enjoyed the splash pad with her friends. One hundred six degrees, and one hundred percent humidity? I don't know but I wouldn't be surprised. 

But then Sophia and I went to our apartment complex had three, maybe four, wonderful hours in the pool. It was incredible. Even after her dad and her sisters picked her up to go out to dinner, I spent another hour in the pool. Wow, it was wonderful. 

Right now, 9:54 p.m. CT and it's 93°. Holy mackerel. Think about that 93° at 10:00 p.m. Ready for another swim.

I can't wait until tomorrow. 

Back To What I'm Getting Paid For

Amazon -- from The WSJ:

Since the beginning of the pandemic, Amazon says it has added 50 million Prime members and made profits of over $26 billion, more than the previous three years combined. As Amazon purchases increased, so did review manipulation. Sellers are taking advantage of the online shopping frenzy, using new methods to bolster ratings on products ranging from cordless vacuums to toilet-paper holders. For shoppers, this can mean diminished overall trust and frustration, as they try to pick a winner from a crowded field of low-quality, no-name “five star” items, mostly from China.

Let's forget about the rest of the paragraph. Let's just re-post the really, really important data point:

Since the beginning of the pandemic, Amazon says it has added 50 million Prime members and made profits of over $26 billion, more than the previous three years combined.

Think about that: in one year, Amazon has added 50 million Prime members (a subscription runs about $130/year) and profits of $26 billion, more than the previous three year combined

Mandatory vaccine: Oh, this is huge. The link is hardly needed; the story is everywhere.  "The court" upholds Houston hospital's mandatory vaccine policy: 

The 117 suing workers, including plaintiff Jennifer Bridges, a nurse for almost seven years at the hospital system, had their own choices to make, the judge said. Bridges and other plaintiffs had every right to accept or refuse the vaccine. “If she refuses, she will simply need to work somewhere else,” the decision said.

It will be appealed all the way to the US Supreme Court.  

Shell rumored to sell its Permian assets. 

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.

The sale could be for part or all of Shell's position in the U.S. Permian Basin, located mostly in Texas, which accounted for around 6% of the Anglo-Dutch company's total oil and gas output last year. The holdings could be worth more than $10 billion, the people said.

Have ESG shareholders gone mad? LOL. This could be easiest ten years of investing in my fifty-year span of investing. 

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.


  1. I was at Methodist hospital in Houston when the Pfizer rep gave his presentation to the employees at Methodist. One of the doctors asked him if the vaccine could cause women of child bearing age to be come sterile. His reply was, "We do not know, the vaccine was not tested for that."

    1. Well, that would be an honest answer, assuming the drug rep actually knew. It will be interesting if the appellate court / US Supreme Court asks that question. And, also whether it causes sterility in men.