Thursday, November 18, 2021

Posting One More Music Video And Then Calling It A Night -- Will Be Getting Up At 3:00 A.M. To See The Lunar Eclipse -- November 18, 2021

I'm only posting this one so I can post another music video. The Bakken point has been made so many times it's like beating a dead horse, but the Bakken never ceases to amaze me. The MRO Betty Shobe pad has been updated. 

Here's the original Betty Shobe well (production data has been updated for the wells on this mega-pad at this post):

*****************************
You Never Can Tell

You Never Can Tell, Emmylou Harris

One wonders if Quentin Tarantino saw this concert and ... Pulp Fiction ... the rest was history.

Heat Wave -- Nothing About The Bakken -- November 18, 2021

On another note, from a reader:

Check out the Tour de Tuscon ride this Saturday, November 20, 2021.  Supposedly the largest group ride in the USA ... a 102-mile ride --

El Tour de Tucson homepage, but it even has its own wiki entry. Wow.

El Tour de Tucson is the largest bicycle race in the United States, one of the largest rides in the country and Arizona's longest-running bicycle event. El Tour was founded in 1983 by Richard J. DeBernardis with 198 cyclists, this annual event now attracts over 7,500 cyclists from around the United State.

What would be a great song from a Tucson native? I guess we can go with this one:

Heat Wave, Linda Ronstadt

Doesn't / didn't she just have the most wonderful sparkle in her eyes? She kept that "innocence" throughout her career.

Oh, my goodness, we have to do another one:

Just One Look, Linda Rondstadt

These two videos from 1876 - 1980 time frame.

Damn The Torpedoes, Full Speed Ahead -- CLR Has Literally Just Completed The Gale / Rodney Wells -- November 18, 2021

These wells are tracked here.

The newest wells are still on the confidential list but they have now been completely and production has begun. This is huge and what the Bakken is all about. 

I'm too exhausted to go through all the wells, but the small mineral owners who have interests in these wells are going to have a huge 2022. Congrats! Well deserved. But look at all the wells that will be producing starting this month.

Slawson's Armada Federal Wells In Big Bend / Van Hook

Note: in a long note like this there will be content and typographical errors. I have not proofread the post. If this is important to you, go to the source.

The wells:

  • 32113, conf, Slawson, Armada Federal 1 SLH, Big Bend, NENE 15-151-92, 464 FNL 675 FEL,
  • 32118, PNC, Slawson, Armada Federal 9 SLTF2H, Big Bend, NENE 15-151-92, 464 FNL 875 FEL,
  • 34525, conf, Slawson, Armada Federal 7-14-18TFH, Big Bend, SWSW 14-151-92, 1271 FSL 230 FWL
  • ,34526, conf, Slawson, Armada Federa 6-14-18TFH, Big Bend, NWSW 14-151-92, 1371 FSL 230 FWL
  • 34619, conf, Slawson, Armada Federal 3-14-18H, Big Bend, NWSW 14-151-92, 1421 FSL 230 FWL
  • 19010, conf, Slawson, Armada Federal 1-14-13H, Big Bend, SWSW 14-151-92, 1320 FSL 230 FWL,
  • 34527, PNC, Slawson, Armada Federal 2 SLHPNC, Big Bend, NWNW 23-151-92, 1000 FNL 260 FWL, Big Bend,
  • 26367, PNC, Slawson, Armada Federal 8-14-13TF2H, Big Bend, NENE 15-151-92, 414FNL 875 FEL, 26368, conf, Slawson, Armada Federal 2-14-13H, Van Hook, NENE 15-151-92, 365 FNL 675 FEL,
  • 32111, conf, Slawson, Armada Federal 4-14-13TFH, Big Bend, NENE 15-151-92, 314 FNL 675 FEL
  • 32112, conf, Slawson, Armada Federal 5-14-13TFH, Big Bend, NENE 15-151-92, 414 FNL 675 FEL

The graphics



Three New Permits; Enerplus Reports Seven Wells Plugged Or Producing -- November 18, 2021

Active rigs:


$79.01
11/18/202111/18/202011/18/201911/18/201811/18/2017
Active Rigs31
15556356

Three new permits, #38663 - #38665, inclusive:

  • Operators: MRO (2); Slawson
  • Fields: Bailey (Dunn); Big Bend (Mountrail)
  • Comments:
    • Slawson has a permit for an Armada Federal permit in NENE 15-151-92, 414 FNL and 675 FEL; the Slawson Armada Federal wells are tracked here.
    • MRO has permits for two permits, a State Randie permit and a State Melman permit, both in SWSE 36-146-94;
      • will be sited between 631 FSL and 646 FSL and between 1796 FEL and 1833 FEL

Seven wells plugged or producing:

  • Enerplus (7): Sable, Lynx, Beaver, Marten, Otter, Weasel, and Seal, all in SWSE 33-151-94, McKenzie County;

Resurveyed: Slawson has re-surveyed four Armada Federal sites.

Three permits renewed:

  • 26368, loc, Slawson, Armada Federal 2-14-13H, Mountrial County;
  • 32111, loc, Slawson, Armada Federal 4-14-13TFH, Mountrial County;
  • 32111, loc, Slawson, Armada Federal 9-14-13TFH, Mountrial County;

Active rigs: daily activity report show rig count dropped from 33 to 31; I did not run through the list;

Absolutely Crazy To Run A Business Like This -- My Condolences To Those Charging Their EVs Overnight -- November 18, 2021

This is almost predictable -- ISO NE rates spiked to $180 / MWh overnight, link here:

***********************************
For The Archives

Final trades, Fast Money: Morgan Stanley, CVS Health, SPDR Gold, Zscaler Inc (ZS)

*********************
For The Archives 

This is hardly worth posting, but want to clear out the in-box.

US equity markets:

  • Dow: closed pretty much flat, slightly negative.
  • both the S&P 500 and the NASDAQ closed at all-time highs today

Five Dow Jones stocks to buy -- Investor's Business Daily: American Expfress, Apple, Goldman Sachs, Merck, and Microsoft. Link here

Apple: strong iPhone 13 demand bodes well for holiday season; TipRanks via Yahoo!Finance

Global warming: snow forecast for next week is Europe including UK and US northeast ... early forecasts for December 10, 2021, are going as far as -42°F for Canada and -17°F for Chicago -- which means the Bakken will drop to -30°F! Ouch. We'll see. I doubt it will get that cold. But if it does: unusual and a harbinger for what is to come during this winter. Link here.

Global warming: another day of sky-high electricity prices in Europe, particularly in countries like France and Spain. For Spain: the fourth highest day-ahead power price ever. But that's very surprising about France -- all that nuclear power? I don't get it. Link here.  

Turkish lira: plummets. So, what else is new? Link here to The WSJ

Anyway: done for the day. Good luck to all. 

*************************
Covid-19

Regardless of what the statistics show, Covid-19 is so over. Link here.


Bakken Natural Gas Flaring Reaches Historical Low As Production Climbs -- Platts -- November 18, 2021

I mentioned this in passing when the North Dakota September, 2021, data, was released with the Director's Cut earlier in the week, but I did not headline it:

Comments:

  • an incredibly good report;
  • natural gas capture rate up from 92% to 94%
  • look at that crude oil price appreciation from August, 2021
  • two consecutive months with increased production m/m
  • rig count pretty much steady but up slightly
  • DUC count down slightly, but not worth a headline

But Platts did headline it: Bakken Shale natural gas flaring reaches historical low as production climbs --

  • North Dakota gross gas volumes surpassed 3 billion cubic feet / day
  • new midstream infrastructure promises upside

So many stories:

  • The impending completion of WBI Energy Transmission's North Bakken Expansion natural gas pipeline project is likely to increase the Bakken's ability push more gas to Northern Border Pipeline for ultimate delivery downstream in the Midwest.
  • ONEOK recently announced that it will build Demicks Lake III, announced sometime ago, before the project was "suspended."

Lots of information regarding MDU's subsidiary WBI at the linked Platts article. 

Notes From All Over -- AAPL Surging -- Locked And Loaded To Get This Done -- November 19, 2021

AAPL: surging. Coming close to all-time highs again. Breaking: AAPL is accelerating work on autonomous car. Later: hit an all-time high, again, on a down day for the Dow, although this should push the Dow into the green. 

How will AAPL do it? Foxconn. On November 10, 2021, Foxconn and Lordstown Motors entered into a strategic partnership. Link to press release here. Wasn't "November 10, 2021" just one week ago?

  • Lordstown, Ohio: factory already there, and it's not in California
  • Lordstown Motors Corp: a provider of electric light-duty trucks focused on the commercial fleet market
  • Hon Hai Technology Group (Foxconn): one of the largest electronics manufacturers in the world
  • press release explains how this is all going to be done
  • Lordstown Motors: wiki. Workforce? Locked and loaded to get this done.

When I hear Foxconn, I can't not see Apple.  

From wiki, on Lordstown Motors: this second paragraph:

General Motors has invested $75 million in Lordstown Motors. 
GM obtained a seat on Lordstown Motors' board of directors, and has included Lordstown Motors into its Tier 1 supply chain. With the deal, Lordstown Motors is looking to compete against Tesla, Rivian, and Nikola's electric vehicle lineup.

GlobalFoundries: wiki here

  • it was announced today that Ford has signed a strategic agreement with GlobalFoundries

The scorecard:

  • Rivian -- Amazon -- Ford -- GlobalFoundries
  • Lordstown -- Apple -- GM -- silicon M1 chip (GM currently depends on seven chip manufacturers)
  • Tesla -- chips (?)

Comment: this all reminds me of two other great battles from the past:

  • DVD vs Blu-Ray (also followed on the blog, a long, long time ago)
  • cellphone chips (also followed on the blog, a long, long time ago)

Comment: the EV scorecard above also incorporates another battle:

  • the chip

There's an obvious first question but I will leave this for another time. It's time to digest all that's been posted. 

Final trades, Halftime Report: Unitedhealth, Fedex, Amazon, Nutrien LTD (NTR).

EVs

Updates

December 1, 2021: the Australian connection.

November 30, 2021: Foxconn plans to launch three new electric vehicles: Model C recreational vehicle; the Model E sedan; and the Model T electric bus. Link here Hunch: Foxconn to partner with Apple, and the autonomous car will be the Model A (for Apple).

November 30, 2021: iPads and the luxury Toyotas.

November 30, 2021: Daimler-Benz ready to roll out their electric trucks starting January 2, 2022.

November 29, 2021: Nissan announces $18 billion program through 2030; 23 EVs to include hybrids and 15 all-electric vehicles. Link here.  

 November 22, 2021: Rivian/Ford break up; Ford will go it alone. Were investors played?

November 22, 2021: blogging work for today.

November 21, 2021: Ford holding back on F-150 Lightning production. Why?

November 19, 2021: GM says it will produce 600,000 EVs by the end of 2023. That's only two years from now. Is US infrastructure ready?

November 19, 2021: Ford, Rivian abandon joint venture. Ford will "go it alone" to produce 600,000 EVs per year. New landscape. And here.

November 18, 2021: Apple locked and loaded

November 17, 2021: note -- the list below, Rivian was not even on the list earlier this year. Now, it's the second most valuable EV company in the world. LOL.

Original Post

Previously posted, but needs to be updated. This was posted January 24, 2021.

Link here.  

The companies in the chart below and their webpage tag or similar:

  • RIDE: Lordstown Motors Corp
 -- the world's first all electric commercial pickup;
  • FSR: Fisker, Inc -- Ocean (crossover SUV?), $37,499;
  • 
FIII: Forum Merger III
 --December 11, 2020 -- definitive merger agreement with Electric Last Mile Solutions, Inc, a deal valued at $1.3 billion;
  • GIK: Lightning eMotors
 -- powering fleets with lightning;
  • HYLN: Hyliion Holdings Corp -- Class 8 tractor trailer electrification;
  • 
CIIC: CIIG Merger Corp
 -- a SPAC; close to a deal with electric luxury vehicle start-up Lucid Motors
  • NGA: Northern Genesis Acquisition Corp

  • XL: XL Fleet Corp -- fleets, trucks; partnering with some big names, Chevrolet, GMC, Ford, Coca-Cola,
  • WKHS: Workhorse Group Inc
 -- focused on C-Series electric delivery vans;
  • GOEV: Canoo -- delivery vans
  • NKLA: Nikola Corporation 
-- Class 8 tractor trailer electrification;
  • ACTC: ArcLight Clean Transition Corp -- infrastructure?
  • TSLA: Tesla
 -- cars, SUVs, pickup trucks, Class 8 tractors; and flamethrowers

The screenshot at the link at twitter:

Chips -- November 18, 2021

Foundries vs designers.

Foundries:

The "chip" companies of interest:

  • Nvidia: best "chip" company -- Jim Cramer
    • on 13 September 2020, it was announced that Nvidia would buy Arm from SoftBank for $40 billion, subject to regulatory approval, with the latter acquiring a 10% share in Nvidia
    • more and more, the tea leaves suggest this deal will not go through
    • tea leaves: it doesn't matter; in fact over time, it might be better for Nvidia not to buy Arm, Ltd, except to prevent some other chip company from buying it
  • Arm, Ltd: owned by SoftBank Group
  • AMD
    • had planned to close on XLNX by end of CY21
      • looking more and more likely that could be delayed
  • XLNX
  • Qualcomm
  • the break from Apple, when first announced, shocked the community
  • November, 2021: after recovering, set all-time highs
  • AAPL
    • tracked here;
    • with introduction of the "Silicon" chip, AAPL became a "chip" company
      • some day it's possible AAPL will be valued like a "chip" company
  • INTC: across the board, most feel this company has significant challenges

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.

Pay Companies

Traditional credit cards.

 

Disruptive technology

  • buynowpaylater (BNPL)


Wallet

  • Apple
  • Amazon
  • Target
  • Walmart

Companies

  • Square
  • Paytm


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.

Income Generated By The Internet -- November 18, 2021

Quick: name the company that generates the most income from the internet as defined by a contributor at ZeroHedge.

Big Tech companies have quite the influence over our lives. That influence is becoming difficult to ignore, and draws increasing media and political attention. And some see this attention as a plausible explanation for why Facebook changed their name—to dissociate from their old one in the process. 
One tangible measure of this influence is the massive amount of revenue Big Tech companies bring in. To get a better sense of this, we can look at Big Tech’s revenue generating capabilities on a per-minute basis as well:

Look at the per-minute revenue gap between:

  • #2 and #3;
  • #5 and #6
  • in each case, not even in the same ballpark.

Two takeaways:

  • Amazon is way undervalued; and
  • Apple is way, way undervalued.

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. 

Active Rigs At 32; WTI DOwn Below $80 -- November 18, 2021

Hershey, Dot's Pretzels LLC: nice update over at The WSJ.

Starbucks: links with Amazon Go -- or should we say, "amazing go." Google it.

Visa: dropped by Amazon in the UK; may be dropped by Amazon in the US. Currently, Amazon Prime Chase card is a Visa card. What happens to all the "points" if Amazon drops Visa? Link here but no answer.

LA ports: truckers won't work 24 hours; prefer to rest on weekends. Link to WSJ. Sort of like Wall Street, the banking industry, and Congress, huh?

Line 5 to federal court: Link to Charles Kennedy

Will the error be corrected? See if you can find it? Link to Irina Slav. Hint: one needs to read to the end of the story.

Tapping the SPR: apparently when we tap the SPR, one of the biggest buyers of US oil is .... drum roll ... China. I guess that's why Brandon wants a globally coordinated release of oil from SPRs around the world. As if China won't find another place to "hide" that oil -- off-shore floating cargo ships?

******************************
Back to the Bakken

Active rigs:

#77.60
11/18/202111/18/202011/18/201911/18/201811/18/2017
Active Rigs32
15556356

Thursday, November 18, 2021: 25 for the month, 28 for the quarter, 279 for the year:

  • 36226, conf, Enerplus, Mylonite 147-93-08D-05H-TF, Moccasin Creek, first production, 5/21; t--; cum --;

RBN Energy: crude oil, natural gas and NGL markets in a decarbonizing world

Energy marketeers are faced with a conundrum. Should the focus be on producing, processing, and marketing the hydrocarbon-based energy that the world needs today? Or is it time to go an entirely different direction toward net-zero emissions, renewables, and battery-powered everything? The answer, of course, is both. That means living, working, and producing hydrocarbon-based products in today's world while at the same time preparing for and investing in the world to which we’re headed. You might think of it as kind of a mild case of schizophrenia; we live in one reality, but we must think in terms of an entirely different future reality. That was a core theme for RBN’s Fall 2021 School of Energy: Hydrocarbon Markets in a Decarbonizing World. In today’s RBN advertorial blog, we provide our key findings and highlights from the conference curriculum.

Early production:

  • 36226, conf, Enerplus, Mylonite 147-93-08D-05H-TF, Moccasin Creek, first production, 5/21; t--; cum --;
DateOil RunsMCF Sold
9-20212043614424
8-20211768712301
7-20211837713631
6-2021118016577
5-202161394027