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Wednesday, February 2, 2022

Notes From All Over -- February 2, 2022

And, so we begin:

NFL: record after record after record. Americans can't get enough. Do we need to go year-'round?

  • Hollywood Reporter: TV ratings, NFL conference championships hit multi-year highs;
  • Sports Illustrated: NFL has best viewership ratings since 2015.
  • reminder: Amazon Prime Video has TNF.

MDU: big story -- lost in shuffle. Will post as stand-along. Link here

  • natural gas pipeline
  • North Bakken Expansion project
  • capacity: 250 million cubic feet per day
  • potential: up to 625 million cubic feet per day
  • completion -- look at this -- a 15,426-foot horizontal directional drill of a 24-inch pipeline
  • crossing Lake Sakakawea on the Missouri River
  • just less than three miles long: one of the longest of its kind in the world
  • project completed under a shortened timeframe; reduced original schedule by two months after a delay in receiving approval from the FERC (I'm shocked, shocked -- a FERC delay?)
  • total project expansion: 100 miles of pipeline, a compressor station expansion; a new compressor station;
  • with this project, MDU subsidiary now has total pipeline capacity greater than 2.4 billion cubic feet of natural gas per day (memo to self: check Hess / North Dakota)

Driftwood LNG plant: Tellurian to begin work in April, 2022. That was not on my bingo card.

EPD: on fire. 4Q21 results.

Let's check in on ISO NE:

  • low demand at 5:00 a.m. -- less than 15000 MW
  • already, electricity over $200 /MWh; 8th decile:
  • still no coal? Link here.

Semicondutors surging:

  • AMD gaining on Intel.
  • Short squeeze? XLNX:
    • on January 14, 2022: 11.71 million shares shorted; short % of float: 5.34%
    • on December 14, 2021: 10.5 million shares shorted; 
    • a lot of folks bet against the AMD - XLNX merger

Apple: surprise hardware winner -- link here:

  • one core piece of hardware struggled until the pandemic
    • I bought one of these 27-inch desktop computers back in 2020, and it was best purchase I ever made;
    • getting more use out of it than ever imagined;
  • adult daughter who worked from home, lots of video-meetings with patients, bought same one; huge deal;
  • PC sales were declining prior to the pandemic;
  • huge jump in 2020; 
  • another semiconductor company that beat the supply change challenge;

GM: record sales in 4Q21.

  • what supply chain shortage?
  • GM profit up 56% to $10 billion in 2021.
  • GM's average vehicle sales price rose almost 20% in 4Q21 from a year ago.
  • getting tired off all this supply chain shortage as an excuse.
  • Tesla's business model becoming mainstream: order your vehicle; pay $100 down; and wait one to three years.

Welcome to my world: link here.


Rigs don't matter (don't take that out of context): link here.

Texas "freeze" panic. Am I missing something?

Harold Hamm Foundation: donates $2 million to University of Mary.

Covid-19 vaccine for those under five years of age? If asked, I will say "no." But I doubt anyone will ask me.

2 comments:

  1. The Tellurian announcement is just another delay. Watch the video:

    https://www.youtube.com/watch?v=6NnYLALIKJI

    Even the (quite smooth) Souki appears uncomfortable. They told us in 2016, that they would FID (final investment decision, go forward) in 2018. It has slipped several times, pre-Covid. Then slipped during Covid. More recently, CS told us that they would FID by year end 2021. Then he delayed that to 1Q22. Now he is delaying further and talking (for first time) about FID not being a concept.

    Note also in the video, the ominous remarks about project not being derisked (may not go forward at all) and about equity partners (this is the diluting everyone has been discussing).

    Also the comments about 45 suitors and going slow to get it right are just silly. They don't have a single serious suitor. If they did, they would progress. It is not hard to restict the bidding, mandate terms, etc. to winnow down a group. They just don't have any serious interest.

    Also, the comments about starting construction will just be more site clearing silliness. They don't have the money to pay Bechtel for a detailed design or to order long lead time equipment. They will keep most of their cash to fund salaries and keep the entity around in the hopes of getting financing. They will not dump serious amounts into a project start.

    ReplyDelete
    Replies
    1. What a great note. Thank you. Yes, I thought the whole thing sounded weird -- just the little bit that I read.

      Delete

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