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AMC: doubled today, after an already incredible run. This tells me one thing: this market is different. Once something starts to move, all bets are off. I don't know what the free cash flow for AMC will be this year as we "return" to normal, but if WTI/Brent trend toward $75 / $80, we're going to see some "pops" in oil companies that will shock everyone ... except those paying attention.
Exhibit A:
- CVX: up 1.34%; up $1.43; closed at $108;
- COP: at 1.24%; up 72 cents; closed at $59;
- OKE: up 0.9%; up 48 cents; closed at $54.25:
- APA: up 2%; up 46 cents; closed at $23.52;
- DVN: up 2%; up 60 cents; closed at $30.80
- MNRL: up 0.26%; up 5 cents; closed at $18.94
Exciting: personally, two companies excite me --
- DEN: see earlier post;
- Warner Brothers Discovery -- this could be big
Others that deserve comment:
- Nvidia: up 3%; up $20; closed at $671;
- AMD: up 1.44%; up $1.16; closed at $82;
- XLNX: up 1%; up $1.21; closed at $129;
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Back to the Bakken
Brent: $71.20.
Active rigs:
| $68.83 | 6/2/2021 | 06/02/2020 | 06/02/2019 | 06/02/2018 | 06/02/2017 |
|---|---|---|---|---|---|
| Active Rigs | 20 | 11 | 64 | 60 | 50 |
No new permits.
MRO reports a nice well:
- 37251, 4,438, MRO, McGowan 11-2H, Killdeer, t12/20; cum 163K 4/21; this well is tracked here as well as some interesting observations regarding this well.
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 4-2021 | 30 | 27713 | 27726 | 27528 | 27990 | 26006 | 0 |
| BAKKEN | 3-2021 | 31 | 28324 | 28333 | 36196 | 24225 | 22113 | 93 |
| BAKKEN | 2-2021 | 28 | 26976 | 27092 | 41191 | 26111 | 19365 | 4831 |
| BAKKEN | 1-2021 | 31 | 30427 | 30339 | 51409 | 29472 | 21668 | 5655 |
| BAKKEN | 12-2020 | 29 | 49610 | 49191 | 101203 | 42426 | 33428 | 5583 |
| BAKKEN | 11-2020 | 2 | 0 | 0 | 454 | 0 | 0 | 0 |
