Thursday, August 19, 2021

SRE -- After-Hours -- August 19, 2021

Link here

News?

I don't know.

Maybe a reader does.

Quick google search: https://www.marketbeat.com/instant-alerts/nyse-sre-consensus-analyst-rating-2021-08-2-3/.

Analysts' ratings: Business Insider, Benzinga Insights, August 19, 2021, 12:36 p.m. ET.

Covid-19 Vaccinations; Folks Getting Religion — August 19, 2021

 Covid-19 vaccination:



Doses of vaccine distributed to health facilities

Change from day before

Vaccinations given

Change from day before

Percent of distributed vaccine that is actually administered

Doses received in past week, current Monday from previous Tuesday

Average number of doses given / day in past seven days

Thursday

August 19, 2021

422,175,735

2,562,810

359,623,380

1,023,545

85.18%



Wednesday

August 18, 2021

419,612,925

2,134,950

358,599,835

704,840

85.46%



Tuesday  

August 17, 2021

417,477,975

1,519,670

357,894,995

602,938

85.73%



Monday

August 16, 2021

415,958,305

660

357,292,057

858,392

85.90%

8,397,600

765,555

Sunday

August 15, 2021

415,957,645

42,080

356,433,665

664,840

85.69%



Saturday

August 14, 2021

415,915,565

1,538,640

355,768,825

990,875

85.54%



Friday 

August 13, 2021

414,376,925

3,123,000

354,777,950

918,056

85.62%



Thursday

August 12, 2021

411,253,925

1,687,610

353,859,894

654,350

86.04%



Wednesday

August 11, 2021

409,566,315

1,241,180

353,205,544

654,600

86.24%



Tuesday

August 10, 2021

408,325,135

764,430

352,550,944

617,769

86.34%



Monday

August 9, 2021

407,560,705

-1,000

351,933,175

532,245

86.35%

6,885,740

715,547




Twenty-Four Active Oil And Gas Rigs; Thirteen Permits Renewed; Nine Permits Canceled -- August 19, 2021

Active rigs:

$64.05
8/19/202108/19/202008/19/201908/19/201808/19/2017
Active Rigs24*12625953

Per NDIC, twenty-four active oil and gas rigs:

  • CLR (8): Charolais South Federal, Pletan 8-18HSL, Flint Chips Federal, Pletan 10-18H, Bice, Tallahassee, LCU Ralph Federal,  LCU Ralph,
  • Hess (4):CA-E Burdick l.. 8; CA-E Burdick ...5; EN-Zunich, BB-State A;
  • MRO (2): Gene, Goth,
  • Bruin: BB-State A,
  • Hunt: Blue Ridge;
  • Kraken: Wallace
  • Ovintiv: Rolla,
  • Whiting: Maki
  • PetroShale: Anderson
  • Slawson: Muskrat Federal,
  • Oasis: Fraser Federal,
  • Rimrock: FBIR Johnson,
  • Petro-Hunt: Murphy,
  • Koda Resources, Stout 34-1 SWD,

Three new permits, #38498 - #38500, inclusive:

  • Operators: CLR (2), Eagle Operating
  • Fields: Oakdale (Dunn County), Feldner Coulee (Renville County)
  • Comments:
    • Eagle Operating has a permit for another Feldner Coulee to be sited 505 FNL and 1865 FEL
      • the well will be the VM 5-2 well NWNE 5-158-86
    • CLR has permits for two more Whitman wells in Oakdale field;
      • the wells will be sited at  554 FNL and 435 FWL and at 565 FNLW and 478 FWL

Thirteen permits were renewed:

  • XTO (7): seven Bud permits in McKenzie County; six of them sited in SWSW 20-158-95; one will be sited in NWNE 30-149-96
  • Lime Rock Resources (5): three Mariners permits in Burke County; and two Reuben Schneider permits in Dunn County
  • Oasis: a Lars permit in lot 1, section 3-157-92, Mountrail County

Nine permits canceled:

  • Rimrock (6): six Skunk Cfreek permits in Dunn County; section 7-148-92;
  • EOG 3): three Hawkeye permits in NENE 25-152-95, McKenzie County

Notes From All Over -- The "Remote Texas City" Edition -- August 19, 2021

Link here. I saw the headline in The NYT but never clicked on the link because I assumed it was about some little town in west Texas -- oil town Midland or Odessa. It turns out that "remote" little town was New Braunfels. 

Oh, give me a break. Hardly "remote" or "outlying" -- sits just north of San Antonio on the I-35 north to Austin, perhaps the busiest thoroughfare in Texas. When The NYT got mocked for using the word "remote" to describe New Braunfels, the newspaper changed "remote" to "outlying." 

****************************
Oh, The Irony

Guyana, Suriname

August 19, 2021: Guyana, Suriname oil drilling activity to jump. Link to Irina Slav.

**************************
Background



Guyana-Suriname Basin: rise from obscurity to super potential, WorldOil, May, 2021.

  • estimates of 10+ billion bbls of oil
  • estimates of 30 tera cubic feet of natural gas

THE EARLY EXPLORATION

Onshore exploration. In both Suriname and Guyana, oil seeps were known from the 1800s, into the 1900s. Exploration in Suriname discovered oil at a 160 m depth while drilling for water in a schoolyard in Calcutta Village.2 The onshore Tambaredjo oil field (15-17 oAPI oil) was discovered in 1968. First oil began in 1982. Satellite oil fields to Calcutta and Tambaredjo were added. These fields had an original STOOIP of 1 Bbbl of oil. Currently, these fields are producing around 16,000 bopd.2 Staatsolie’s crude is processed at Tout Lui Faut refinery, at 15,000 bpd, to produce diesel, gasoline, fuel oil, and bitumen.

Guyana did not have the same onshore success; since 1916, 13 wells have been drilled, but only two wells have shown oil.3 Onshore oil exploration in the 1940s produced geological studies in Takatu basin. Three wells were drilled between 1981 and 1993, all either dry or non-commercial. These wells confirmed the presence of thick black shale, Cenomanian-Turonian age (known as Canje Fm), equivalent to the La Luna formation in Venezuela.

Venezuela has a thriving oil exploration and production history.4 Drilling success dates back to 1908, first in the western part of the country with the Zumbaque 1 well,5 with production in Lake Maracaibo rising during WWI and into the 1920s and 1930s. Of course, the tar sands in the Orinoco Belt, discovered in 1936,6 have significantly impacted the oil reserves and resources, contributing to the 78 Bbbl of oil reserves; this reservoir gives Venezuela the current first position on reserves. La Luna formation (Cenomanian-Turonian) is a world-class source rock for much of this oil. La Luna7 is responsible for most of the oil found and produced from the Maracaibo basin and several others in Colombia, Ecuador and Peru. The source rock found offshore Guyana and Suriname has similar characteristics to those found in La Luna, and is the same age.

Offshore Guyana oil exploration: Shelf region. Exploration on the continental shelf began in earnest in 1967,7 with the Guyana Offshore-1 and -2 wells. A 15-year gap ensued until the Arapaima-1 was drilled, followed by Horseshoe-1 in 2000 and the 2012 wells, Eagle-1 and Jaguar-1. Six of these nine wells had either oil or gas shows; only the Abary-1, drilled in 1975, flowed oil (37 oAPI). Although the lack of any economic discovery was disappointing, these wells were very important, because they confirmed a functioning petroleum system was generating oil.

Offshore Suriname oil exploration: Shelf region. The story of exploration on the continental shelf in Suriname mirrors that of Guyana. Nine wells were drilled through 2011, three of which had oil shows; the others were dry. Again, the lack of economic discoveries was disappointing, but these wells confirmed a functioning petroleum system was generating oil.

ODP Leg 207 drilled five sites in 2003 on the Demerara Rise, which separates the Guyana-Suriname basin from offshore French Guiana. Very importantly, all five wells encountered the same Cenomanian-Turonian Canje Fm source rock found in Guyana and Suriname wells, which was a confirmation of the presence of a source rock as La Luna.

Much more at this link.

Notes From All Over -- August 19, 2021

US crude oil imports:

  • summer of 2021, the last twelve weeks:

  • same period, one year ago, 2020:

US crude oil imports, some thoughts:

  • look at the huge jump (as a percentage) in imports starting in August, 2021
  • part of this is due to the mix of types of oil desired; US top heavy in light oil; needs heavy oil from Canada, Mexico, Russia
  • part of this is due to price / competition
  • most of this simply due to a comparison with the year of the plague (2020); a better comparison would be with 2019;
  • big question: to what extent is domestic production not keeping up?
    • to what extent is domestic production not keeping up by design;
    • to what extent is domestic production not keeping up simply because it cannot;

Saudi crude oil inventories, link here:

Afghanistan: social media video coming out of Kabul suggests:

  • things are going to get much worse, sooner (before August 31, 2021) than later
  • more US combat troops will have to be sent in,
  • and even then, it may not be enough

Sensing a pattern here, from social media earlier this morning. Highlights from President Biden's ABC interview:

  • did not "recall" being warned by US military to not push ahead with his plan;
  • did not know US has troops in Syria
  • did not know certain events in Kabul happened this week
  • said people falling "off" US transport aircraft happened "four, five days ago"; in fact, that happened the day before the interview
  • did not know people were getting killed
  • most commonly used "legal phrase" in the interview: "I do not recall." 
  • it's my experience folks generally don't believe "I do not recall" answer, but in this case, it's probably accurate. Very accurate.

The RTD Page -- August 19, 2021

I completely missed the RTD sector. I had no idea where Coke-Cola and Pepsi were headed. It all began with SAM a few weeks ago. 

Two "data points" led to this review.

The first, some weeks ago when SAM (Boston Beer) reported earnings. Ouch.

The second, from overnight, from Motley Fool:

Warren Buffett: five holdings account for 88% of Berkshire Hathaway's unrealized gains. KO surged while I wasn't looking. Led me down an interesting path overnight. The five stocks: BRK, AAPL, AMEX, BofA, KO. These five holdings account for almost 90% of Berkshire Hathaway's unrealized gains. Link here

So, the links:

  • Coca-Colz enters US alcoholic drinks market: partnership between Molson Coors and Coke -- 1H21 -- beating Pepsi / Boston Beer in the RTD sector. Topo Cico (Coca-Cola) hard seltzer, link to Forbes.
  • oldest operating brewing company in America
  • Biden's backyard: PA, DE
  • established in 1829
  • largest craft brewery
  • sixth/seventh largest overall brewery
  • HQ: Pottsville, PA
  • Lagunitas Brewing Company.
    • founded in 1993
    • Lagunitas, CA
    • a subsidiary of Heineken; bought a 50% share in 2015; purchased remainder in 2017
    • 2013: fifth top-selling craft brewery

*************************************
Xanadu

Which of course, the RTD page leads us to Xanadu. A reader sent me this at the very time I was working on the RTD page. Great minds think alike.

Xanadu is to Beijing, as Camp David is to Washington, DC, today.

The reader's interest in Xanadu: horses.

My interest in Xanadu: Chinese history. Once I get my books out of storage, I can take a photograph of my notes re: China. Those notes compliment my one-of-a-kind map of China. See below.

Link here.

The Site of Xanadu, located on Jinlianchuan Prairie and the north bank of the Shandian River, is 12 miles northwest to the center of Zhenglan (Xulun Hoh) Banner of Xilingol League, Inner Mongolia in north China. Xanadu, Shangdu in Chinese, was the capital of China in the early years of the Yuan Dynasty (1271 - 1368). 

Established in 1256, this metropolis, created by the Mongols, a nation on horseback, is considered the archetype combination of farming and nomadic culture. 

Xanadu’s prominent position in history is as famous as the ancient city of Pompeii in Italy. The present Site of Xanadu, including the general layout and precious relics, was included in the UNESCO World Heritage List in 2012, and has now become a most sought-after destination.

The Mongol Empire was the largest known in the history of the world, and covered most of modern-day Eurasia. In 1255, Kublai Khan, the grandson of Genghis Khan (the founder of the Mongol Empire), became governor of the prized fertile plains previously held by the Western Xia (Inner Mongolia). 

He started to build a city in 1256, and the project was completed in 1259. Kublai Khan ascended the throne there in 1260, and named the place Kaiping City. In 1264, it was renamed Xanadu (also Shangjing or Bianjing), and later served as the political, economic, military, and cultural center in northern China. 

During the following Yuan Dynasty, the Great Capital (Dadu) was created in today’s Beijing. From then on, Xanadu became a secondary capital and an imperial summer resort. Every year from March to September, the emperor and his ministers would handle the daily affairs there.

The ancient prosperity of Xanadu disappeared due to warfare and revolt, leading to the end of the Yuan Dynasty.