Deere -- A Hit And A Miss -- August 16, 2022

English language: I was taught that double-negatives were a "no-no." Is that an example of "irony" or an oxymoron? 

Rhine River: depth will surge -- navigation to get back to normal next week.

• from 30 cm to 148 cm "almost ovrnight"
• link here;

Deere. Link here.

• net income: $6.16 / share vs $5.32 / share a year ago
• forecast: $6.65 -- which appears to mean, a huge miss.
• but need to see if "adjustments" affect the numbers
  
• revenue: $14.1 billion vs $11.53 billion from a year ago
• forecast: $12.9 billion -- another big miss, but at least in the "right" direction
• guidance: slightly lower
• ticker:
• pre-market: down 3.5% (the entire market is down this morning)
• share price yesterday: 367.99 with a P/E of 19.20
• share price one year ago: $357.16 with a P/E of 22.39 (link here)

The usual disclaimer applies.

$$$: Big 10 lands $7 billion television deal. CBS, FOX, NBC. 

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

The Far Side: link here.

WTI: $88.45 - pre-market, but turned positive at the opening, up 31 cents and trading above $90. Trending toward $91.

Natural gas: $8.987 - pre-market, but losses moderated; down only 1 cent at the open, and natural gas is back above $9 at the open.

Active rigs: 46.

Sunday, August 21, 2022: 13 for the month, 44 for the quarter, 383 for the year

• None.

Saturday, August 20, 2022: 13 for the month, 44 for the quarter, 383 for the year

• 38370, conf, CLR, Fuller 7-2H, 

Friday, August 19, 2022: 12 for the month, 43 for the quarter, 382 for the year

• 38738, conf, Hunt, Clearwater 157-90-26-23H 2,

RBN Energy: carbon capture gets a big boost in Biden's climate bill. Part 11.

The 45Q tax credit has been the federal government’s main tool to incentivize the development of a carbon-capture industry. If the original legislation that created the credit in 2008 was intended to get things started, and the credit’s 2018 expansion designed to give the industry a further boost, the newly enacted Inflation Reduction Act (IRA) — which focuses on clean energy, despite its name — aims to propel carbon capture into the big time. In today’s RBN blog we look at changes made to the 45Q tax credit under the IRA, from the scope of the enhanced incentives to how they could boost carbon-capture opportunities for all types of projects.