Thursday, July 22, 2021

No New Permits; Seven Permits Renewed; BR Reports A Nice DUC -- Late Afternoon Edition -- July 22, 2021

The market is on a tear:

  • Twitter: beats on earnings. Soars seven percent.
  • Snap: soars nine percent; also beats on earnings. EPS at ten cents when analysts forecast a one-cent loss. 
  • CSX: also beats; share jump. Pulls UNP along. 
  • Skechers: beats on revenues; shares surge seven percent.  
  • Boston Beer: huge miss on both revenue and earnings. Shares drop fifteen percent. Markets Truly Hard Selzter and Samuel Adams. Put too much guidance on seltzer; did not do as well as expected. That's interesting. Anecdotally, "everyone" drinks Truly in the pools at our apartment complex (not me).
  • INTC: beat on other upper and lower lines, but shares fall. Implied guidance 2H21 spooks traders.

WTI: up over 2%; up almost $1.50; trading at $71.76. "Everyone" says they are looking for $80-oil by the end of the year. They never specifiy WTI or Brent when they say "oil" generically. I assume they generally mean Brent, as long as Brent is trading at a premium to WTI.

NOG: will report 2Q21 earnings before the market opens on August 5, 2021; conference call will be held same day, a few hours later, at 10:00 a.m. CT. 

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

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NFL Releases "Rules" Re: Covid-19

Link here

High points:

  • 18-game season; no 19th game under any circumstances
  • games not played: if due to Covid-19 outbreak among unvaccinated players -- the team forced to forfeit will take an "L" for playoff seeding;
  • if a game is canceled and cannot be re-scheduled, players will not be paid on either team, regardless of which team forfeited
    • a grey area?
  • vaccinated players who test positive can return to the team immediately following two negative tests;
  • unvaccinated players who test positive will be required to isolate for ten days

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Semi-Pro Football

SEC / Big 12: Texas, Oklahoma have apparently reached out to the SEC to move to a different conference. Winners and losers.

It's been almost 10 years since the SEC expanded to 14 teams with the additions of Texas A&M and Missouri — both castoffs from the Big 12.

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Back to the Bakken

Active rigs:

$71.68
7/22/202107/22/202007/22/201907/22/201807/22/2017
Active Rigs2311556758

No new permits.

Seven permits renewed:

  • XTO (3): three Edwards Trust Federal permits in McKenzie County.
  • BR (3): two George permits and one Bailey-George permit, all in McKenzie County.
  • CLR: a Juneau permit in Williams County.

One permit canceled:

  • XTO: a Prairie Federal permit in McKenzie County.

Two producing wells (DUCs) reported as completed:

  • 35807, drl/NC, Petro-Hunt, Little Knife, Billings County, no production data,
  • 36313, loc/NC, BR, State Dodge 1B MBH, Dimmick Lake, first production, 3/21; t--; cum 74K 5/21; 33-053-09019; fracked 11/1/20 - 11/8/20; and 1/2/21 - 1/6/21; first frack, 9.4 million gallons of water; 88.1% water by mass; second frack, 1/2/21 - 1/6/21; 4.5 million gallons of water; 87.5% water by mass; the BR Dodge wells in Dimmick Lake are tracked here; production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN5-20213126757269311227747008449351884
BAKKEN4-202130451904486219194705327011873
BAKKEN3-202131219121650368336590
BAKKEN2-202128000000

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