Daimler Truck Listing -- December 10, 2021

It looks like Daimler Truck will be spun off and its stock market listing on December 10, 2021. 

Link here. 

Holders of Daimler stock will receive one share of the new Daimler Truck company for every two shares of Daimler stock they hold.

Daimler AG -- ticker symbol: DAI. I believe Americans hold shares in that account in the US under the ticker symbol: DDAIF.

Daimler Truck Holding AG.

Apparently Daimler AG will rename itself as Mercedes-Benz some time later. 

See also this link regarding Iveco.

This was a nice data point in that linked Iveco article:

Traton this year snapped up U.S. truckmaker Navistar as the sector consolidates in the face of the costly challenges of developing both fully-electric models for short-haul trucks and hydrogen fuel cells for longer distance trucks.

It's my understanding that Daimler plans to do exactly that: the new trucking company will have two divisions: the EV division, and the hydrogen division.

Intel Might Publicly List Shares In Its Mobileye Self-Driving-Car Unit -- WSJ -- December 6, 2021

Before we get to the story, INTC had a huge day on Wall Street today: during normal trading hours, INTC was up almost 4% but then after hours when this story must have been breaking, INTC was up almost ten percent. Amazing. I know at least one reader that will be happy. LOL. 

Story here. If there's a paywall, the story will be everywhere tomorrow morning. I track EV partnerships here.

From The WSJ:

Intel is planning to publicly list shares in its Mobileye self-driving-car unit, according to people familiar with the matter, the latest move by Chief Executive Pat Gelsinger to revive the semiconductor giant’s fortunes.

The company is expected to announce the move, which could value Mobileye at north of $50 billion, as soon as this week, the people said.

There are no guarantees Intel will ultimately follow through with an offering.

Mobileye, an Israeli company Intel acquired in 2017 for around $15 billion, specializes in chip-based camera systems that power automated driving features in cars. 

Mobileye’s revenues have roughly tripled since Intel bought it. It had $326 million of revenue in the third quarter, a 39% year-over-year increase. Intel had over $19 billion in revenue in the period. 

By relisting shares of Mobileye, Intel could tap into surging investor demand for companies betting on the future of transportation. 

The initial public offering market has also been on a tear, with investors clamoring for new technology issues. 

Mobileye was created by Amnon Shashua and Ziv Aviram when most cars counted seat belts, anti-lock brakes and air bags as central safety components. They set out to create vision-based systems that help cars see the road and communicate with critical systems—including steering and braking—to respond to situations that could lead to a crash.

Apple will stick to its own schedule, but these new announcements, seemingly coming out every week, must be putting a lot of pressure on Apple to make an announcement. My hunch: get through the challenging holiday season and then make the announcement NLT 2Q22. 

Clearing Out The In-Box -- But Look At This -- Toyota Announces Largest Private Capital Investment In North Carolina History -- December 6, 2021

Later: I thought the top story of the day was the one below. Just after posting it, this story which will now be the story of the day. 

This was the top story of the day: Toyota to build a $1.29 billion electric vehicle battery factory in North Caroline.  Link here. 

Toyota will build a $1.29 billion battery factory in North Carolina in an effort to bring some of its electric vehicle supply chain to the US. 

The news comes on the heels of Toyota’s announcement that it will invest around $13.6 billion in battery tech over the next decade, including a $9 billion investment in production, as it attempts to electrify its vehicle lineup.

Toyota plans on spreading the $1.29 billion for the new factory over the next decade, but production at the facility is scheduled to begin in 2025. 

In the first year, Toyota plans on producing 1.2 million battery packs for its upcoming lineup of electric vehicles. 

Toyota has said it will create 1,750 new jobs . 

“This investment, which I believe is so far the largest private capital investment in North Carolina history... will create at least 1,750 new jobs and help us develop and localize automotive battery production,” Reynolds said during a press conference, “which will pave the way for battery electric vehicles built here in the United States of America.”

Whoo-hoo! 

• COP unveils $1 billion variable dividend. Link here. COP forecasts rise in 2022 shareholder returns totaling $7 billion. Link here. How did investors take the news? Hard to say because on same day of announcement, WTI surged. Whatever. COP was up 2.4% today; up $1.70; closed at $72.81. More of the story here.
  

Two schools of argument:

• OPEC says we are entering into a period of "over-supply";
• Halliburton says the world is entering into a period of oil scarcity. Link here.
• who do you believe?

That was last week: now, Saudi Aramco CEO says world oil supply is starting to lag. Link here. Wow, that was fast.

Saudi Arabia needs $83-oil to balance budget: Saudis raise oil prices for Asia and USA. Link here.

Global warming: perfect irony -- link here --

• US natural gas collapses to four-month low on record warm winter; link here;

Global warming, would Greta agree? Any credible prediction of climate catastrophe must satisfy two criteria:

• it must acknowledge that we are currently safer from climate than humans have ever been; and,
• the failed history of climate catastrophe predictions that Bjorn Lomborg has documented;
• link here.

Global warming, Sweden records the lowest December temperature in 35 years with -43.8°C in Naimakka. Link here. 

Coal: lowest level of US coal stockpiles recorded for the month of September, ever. Link here.

Brent:

• European crude benchmark Dated Brent
• BP supports including US grade WTI in the assessment of Brent
• link here or go direct to Byorn Lomborg at the NY Post;

SPR release: as predicted -- foreign bidders attracted to the reserve sales; US refiners less interested; "wrong" type of oil; link here.

Refiners? Doing well? Crude oil is really inexpensive from a historical perspective, and gasoline is very high considering the low price of oil. It will be interesting to see MPC earnings this next quarter. 

• MPC was up 2% during trading hours today; and,
• MPC was up another 2% after hours.

Covid-19 omicron:

• South Africa: only 25% vaccinated;
• roughly a dozen of people in the hospital;
• no deaths:
• population of South Africa: 60 million
• sort of explains why the market bounced back today;

Does no one see the irony in this; this is the second such headline by The Bismarck Tribune in the past couple of weeks -- link here, and I quote: 

• "Active Covid-19 cases in North Dakota dropped over the weekend after a low-testing day. Hilarious.

WTI Knocking On $7-Handle; Slawson With Two New Permits; CLR Reports Three DUCs Completed -- December 6, 2021

Active rigs, definitive rig report here:

$69.97	12/6/2021	12/06/2020	12/06/2019	12/06/2018	12/06/2017
Active Rigs	29	16	55	63	53

Two new permits, #38687 - #38688, inclusive:

• Operator: Slawson
• Field: Big Bend (Mountrail)
• Comments:
• Slawson has permits for two Armada Federal wells, one in NWSW and one in SWSE 14-151-92; 
• sited 1421 FSL and 230 FEL; and 1171 FSL and 230 FWL;

Three producing wells (DUCs) reported as completed:

• 36104, 1,610, CLR, Gordon Federal 4-5H1, Haystack Butte, no production data,
• 37658, 1,069, CLR, Harrisburg 5-27H, Indian Hill, minimal production reported;
• 38250, 726, CLR, Candee 10-9H1, Chimney Butte, minimal production reported;

Definitive Rig Report; Kraken's Rig Is In The Montana Bakken -- Reader -- December 6, 2021

Data from the NDIC daily activity report. In a long note like this there will be content and typographical errors. 

Summary of changes:

• slips to 29 active rigs
  
• four new locations
• Slawson with one rig; second one probably moving
  
• Kraken still with no rig in North Dakota; see first comment; a reader says Kraken's rig is in Montana.
  

December 6, 2021	Rig	#	Operator	Well Name	File #
Unchanged	Cyclone	35	Bowline	Missouri W 152-103-4-9-7H	37942
Unchanged	Nabors B	1	CLR	Thorp Federal 7-28H1	38517
New location	AES	4	CLR	Dennis FIU 16-8HSL	38130
Unchanged	Nabors B	6	CLR	Whitman FIU 12-34H2	38532
Unchanged	Nabors B	27	CLR	Charolais South Federal 7-10H2	37905
Unchanged	Cyclone	38	CLR	Whitman FIU 6-34H2	38500
Unchanged	Patterson	276	CLR	Springfield FIU 8-8H1	38362
New location	H&P	454	CLR	Dennis FIU 10-8H	38138
Unchanged	H&P	456	CLR	LCU Ralph 10-27H1X	38657
Off	H&P	492	CLR	LCU Ralph 4-27H	37013
Off	H&P	492	CLR	LCU Ralph 3-27H1	37014
Unchanged	Patterson	901	CLR	Rolf Federal 8-17H1	39298
Unchanged	Nabors B	21	Crescent Point	CPEUSC Pankake 4-6-7-157N-99W-MBH	38555
Unchanged	Iron Hand	108	Eagle Operating	Willy Miranda-State 16-4	38630
Unchanged	True.	40	Enerplus	Minnow 149-94-36C-25H	36991
Unchanged	Patterson	811	Grayson Mill	Jay 24-13F XE 1H	38611
Unchanged	Nabors X	24	Hess	EN-Madisyn-LE-154-94-0705H-1	30259
Off	Nabors X	24	Hess	CA-E Burdick-LE-155-95-29H-1	38002
Unchanged	Nabors X	27	Hess	BL-S Ramberg-155-95-0601H-5	36642
Off	Nabors X	28	Hess	EN-J Horst-154-93-1112H-1	38397
Unchanged	Nabors X	28	Hess	EN-J Horst-154-93-1112H-2	38398
Unchanged	H&P	640	Hunt	Halliday 145-93-15-22H 3	38535
Off	Nabors B	18	Iron Oil Operating	Antelope 4-17-20H	38460
Off	Cyclone	35	Koda	Stout 3410-2BH	37797
Unchanged	Nabors X	10	MRO	Konstantin 11-3h	37994
Unchanged	H&P 259	259	MRO	Stone 44-7TFH	38591
Off	H&P	259	MRO	Weekes 14-8TFH	38593
Unchanged	H&P	535	MRO	Austin 11-18H	38573
Unchanged	Nabors B	13	Oasis	Soto 5097 12-3 4B	38335
Unchanged	Nabors B	26	Oasis	Lindvig Beck Federal 5201 41-2 5B	38525
New location	H&P	516	Ovintiv	Wisness State 152-96-16-21-6H	28548
Unchanged	H&P	515	Petro-Hunt	Mongoose 149-103-8D-5-2H	28832
Off	T&S Drilling	1	Slawson	Lightning Federal 4-24-13TFH	38577
Unchanged	Unit	414	Slawson	Machete Federal 1 SLH	38458
Off	T&S Drilling	1	Summit Carbon Solutions	Archie Erickson 2	38622
Unchanged	True Drilling	39	True Oil, LLC	Red Wing Creek Unit 32-27A	38575
Off	True Drilling	39	True Oil, LLC	Northern State 31-36	37495
New location	Patterson	806	Whiting	Scott Olson 31-1h	38544
Unchanged	Patterson	808	Whiting	Kannianen 11-5HU	38411
Off	Patterson	808	Whiting	Kannianen 11-5-2HU	38521