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.
Data I'm most interested in today: CDC Covid-19 vaccine data.
Biggest story yesterday: Biden's cash-to-kids program, monthly check starting July 15, 2021, through the end of the year:
- six years of age and under: $300 / month
- over six years of age: $250 / month
- does anyone really think the politicians will end this program, January, 2022? Every US rep up for re-election in the mid-term elections (2022).
Story of the day: Walmart
- blow-out earnings
- guidance raised;
- shares in pre-market trading: WMT up almost $5/share; up almost 4%;
The market:
ATT:
- it will come out of this just fine; on this one I think pundits are absolutely wrong; this will be interesting to follow; of course the dividend will be "re-sized"; why wouldn't it be after a deal this big? Could be a great trading stock; possibly a great long-term stock. It will be interesting to see SeekingAlpha articles on same. Jim Cramer rant here.
They're reading the blog:
- posted the other day:
- that's the problem with Apple TV. It has no content. I subscribe
to Apple TV (still for free. Well, almost free: one cent per month).
Apple needs to do something and needs to do something this year if it
wants to "save" Apple TV. Every month it waits, the gap between Apple
and Amazon, and the gap between Apple and Netflix widens. At some point
the moat may be too big for Apple to bridge. Especially if Amazon
acquires the MGM catalogue.
- today's news: Amazon looking to buy MGM catalogue;
EVs: "While you were distracted by Elon vs Bitcoin the last few days, Nikola quietly manufactured another 0 vehicles." -- Chadford Whitmore VI. Link here.
Other:
LNG:
- US exports won't be able to keep up with Asian demand;
- chokepoint: Panama Canal
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Back to the Bakken
Active rigs:
$66.58
| 5/18/2021 | 05/18/2020 | 05/18/2019 | 05/18/2018 | 05/18/2017 |
|---|
| Active Rigs | 19 | 14 | 66 | 61 | 52 |
Three wells coming off the confidential list -- Tuesday, May 18, 2021:
- 37541, drl/NC, BR, Don Juan 3C-UTFH, ULW, Dimmick Lake, first production, t--; cum --;
- 36993, 3,442, MRO, Leiderbach 11-27H, Chimney Butte, t11/20; cum 153K 3/21; see this note;
- 36126, drl/NC, Slawson, Stalion 4-1-12TFH, Big Bend, first production, t--; cum --;
RBN Energy: the impact of decarbonization efforts on the LNG industry.
On the surface, it may seem that the LNG market has normalized after
the past year’s tumult, and it’s true that many of the day-to-day
disruptions that plagued LNG offtakers and operators have subsided. Mass
cargo cancellations are a distant memory, and U.S. LNG exports have
been flowing at record levels. Global demand has recovered, and buyers
are back to worrying more about what they normally worry about: storage
refill and securing enough supply for the next winter. However, in other
ways, the pandemic and the more decisive shift toward decarbonization
measures in many ways have fundamentally changed how deals for future
LNG development will get done. Today, we look at what the global
initiative to reduce greenhouse gas emissions will mean for LNG project
financing.
The LNG industry has been impacted by three major events in the last
18 months, all of which have implications for the future of the industry
in the short-, medium-, and long-term. Firstly, the initial wave of
U.S. LNG projects, centered on the U.S. Gulf Coast, has now reached full
production capacity, running at rates equivalent to about 10.5 Bcf/d
(80 Mtpa), or approximately 20% of global LNG demand in 2020, with the
first of the early second-wave projects due to begin exporting later
this year. The second major event was brought on by the pandemic and the
resulting demand destruction. U.S. LNG suffered from cargo
cancellations as a result of COVID-19, which limited exports from the
Lower 48 last year to an annual average of 6.5 Bcf/d (49 Mtpa). So far
in 2021, there is no sign that there will be a repeat of last year’s
cargo cancellations as LNG prices in global markets have been robust,
notwithstanding the boost in supply. However, 2020’s global LNG market
was essentially unchanged from 2019, growing by less than 1%, versus
original market expectations of 4-5%. As such, the demand curve for LNG
has shifted to the right by at least one and, more likely, two years,
before the anticipated growth trajectory resumes. During this period,
sponsors of renewable energy projects havemaintained much of their momentum, and that growth in renewable
energy will serve to reduce the plateau or peak demand for LNG as the
world pursues decarbonization strategies — which is the third factor
that will impact LNG, and the focus of our discussion today. In
particular, the current market environment and push for decarbonization
are upending traditional approaches to funding and capacity commitments
for new developments.
