Putin's War: Washington approves more US LNG exports for Europe.
Gasoline demand, link here. To meet / exceed June, 2021, numbers, gasoline demand is going to have to jump about one million bpd.
Earnings released today, of interest:
- AMGN (after market close: forecast; $4.15)
- beat on both top and bottom line
- EPS: reported $4.25 vs $4.13 forecast
- revenue: reported $6.24 billion vs $6.11 forecast
- AR (Antero Resources) (forecast: $1.12)
- a loss of 50 cents / diluted share compared to a loss of 5 cents per prior year period
- net income: $1.15 per diluted share compared to 62 cents per diluted share in prior period
- Boeing (forecast: -27 cents); stock fell 5% yesterday; today, pre-market today, down 3%;
- EPS: miss; holy mackerel; reported, -$2.75 vs -25 cents; surprise: -1,022%
- revenue: miss; reported $13.99 billion vs expected $15.9 billion; surprise: -12%
- is pausing 777X production; doesn't expect deliveries until 2025
- ramping up the 737Max to 31 / month in the next quarter
- CP (Canadian Pacific)
- NSC (Norfolk Southern Corp) (forecast: $2.92);
- stock fell 2% yesterday; up 2.7% today; up $6.90; trading at $262.53
- HES (before market open; forecast: $1.13)
- EPS: pending
- revenue: a huge 15.6% beat; reported $2.37 billion vs $2.05 billion forecast
- QCOM (forecast: $2.91) -- see CNBC.
- EPS: $3.21 vs $2.91 expected; up 69% y/y
- revenue: $11.16 billion vs $10.60 billion expected; up 41% y/y
- chip sales, $9.55 billion vs $8.86 expected; up 52% y/y
- guidance slightly higher than forecast
- F (Ford) (forecast: 37 cents)
- in-line
- net profit dragged down by its stake in Rivian (EVs)
- Rivian stock lost 52% of its market cap during the first quarter
- Ford's stake: was $10.6 billion; now, $5.1 billion
- adjusted loss:
- excluded that $5.4 billion Rivian loss
- net loss, including Rivian: a loss of $3.1 billion
- adjusted EPS, reported 38 cents vs 37 cents
- revenue, reported $32.1 billion vs $31.13 billion
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Back to the Bakken
Shale oil: three US shale producers are raising production: CLR, Hess, Matador.
Active rigs:
$102.00 | 4/27/2022 | 04/27/2021 | 04/27/2020 | 04/27/2019 | 04/27/2018 |
---|---|---|---|---|---|
Active Rigs | 37 | 16 | 30 | 64 | 62 |
Four new permits, #38903 - #38906, inclusive:
- Operator: Enerplus
- Fields: Murphy Creek (Dunn County);
- Comments:
- Enerplus has permits for four MC-Kudrna wells in SWSE 10-144-95;
- to be sited 222 FSl and between 1525 FEL and 1354 FEL;
Eleven permits renewed:
- Enerplus (5): four LK-Hamilton permits, and one Madrigal permit, all in Dunn County
- Rimrock (3): three Two Shields butte permits in Dunn County
- Sinclair (3): three Lizzie Rae permits in McKenzie County.
Eight permits canceled:
- EOG (7): five Ross permits and two Burke permits, all in Mountrail County (wow, this has to irritate a number of small mom-and-pop mineral owners.
- Enerplus: one Anole permit in McKenzie County.
One producing well (a DUC) reported as completed:
- 35754, 2,548, XTO Energy, Tom State 34X-1A, Alkali Creek, no production data,
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