Tuesday, August 3, 2021

Notes From All Over -- Tuesday Night -- August 3, 2021

Covid: from a reader in Denmark whose American family owns mineral rights in North Dakota.

Hi Bruce,  
You mentioned something about Sweden but in Denmark we don't use masks any more, either. The last COVID-19 restrictions will be over by September 1, 2021. 
In July, 2021, we had 12 deaths and a average of 48 people hospitalized on any given day.
83,3% from 12 years have had one shot of Pfizer or Moderna and 93% from 50 years are now fully vaccinated. 
We are about 6 million people.

North Dakota:

  • DAPL: expansion to start this month. Link to ArgusMedia. 
    • currently: 570,000 bopd
    • later this month: +180,000 to 750,000 bopd
    • ultimately, possibly: 1.1 million bopd
    • ET: the operator will hold an earnings call later today, Tuesday, August 3, 2021
  • Steffes, will invest in North Carolina manufacturing site. Link to AP.
    • Steffes: established in 1947
    • manufactures oil equipment and agriculture "stuff"
    • will invest $21 million into updating a facility in Shelby, NC
    • Steffes has two additional manufacturing facilities in ND and customer support facilities in Wyoming, Texas, and Oklahoma

Investing, oil and gas:

  • NOG: cash dividend increased by 50% over prior quarter; link here.
    • investors care not for stock buyback plans;
    • investors want to see the money; investors want to see dividends and dividend increases;
    • if 3Q21 is like 2Q21 for the oil companies, "prepare for an onslaught of dividend hikes in 3Q21;
  • PSX: 2Q21 earnings beat estimates. Link here. 
    • EPS: 74 cents vs 71 cents
    • revenue: $27.885 million vs $20.652 million (huge beat)
    • one year ago: $11.183 million
  • COP: posts highest profit since 2018, link here. Transcript here.
    • EPS: $1.27 vs $1.13 estimate
    • beats by 14 cents; SeekingAlpha; 
    • production guidance, SeekingAlpha;
    • Reuters;
    • cash pile: $7 billion
    • among several suitors looking at Royal Dutch Shell's Permian Basin assets, worth as much as $10 billion
    • COP: secured the biggest Permian deal to date with the $13 billion stock purchase of Concho Resources

Investing, other than oil and gas:

  • Clorox (CLX): crashes, link here.
    • biggest drop in more than twenty years
  • NKLA: topped expectations, but stock dropped;
    • EPS: a loss of 20 cents vs a 30-cent loss

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)