Saturday, January 1, 2022

Testing For Covid-19 — January 1, 2022

It’s amazing to watch all these "bowl" games with tens of thousands of unmasked fans in the stadiums despite surging numbers of Covid-19. Tells me all I need to know about fallacy of testing asymptomatic individuals.

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Grilling


They must be reading the blog. From social media yesterday:

Pro tip: if you're trying to save some money, but really want to pick up a steak to grill --- grab a chuck-eye on the cheap if they have it; a very underrated cut.

I provided readers a link who may have missed it the first time around. And to think I would have never known this had I not blogged.

Polar Plunge, Flathead Lake, Lakeside, MT -- January 1, 2022

Polar Plunge, Flathead Lake, January 1, 2022

To Protect Themselves From Covid, What The Canadians Are Being Told -- January 1, 2022

From a reader:

Two XTO Rink Wells On A Four-Well Pad Are Taken Off Line -- January 1, 2022

The well:

  • 26361, 1,725, XTO, Rink 13X-4B, Garden, t5/14; cum 232K 12/18; cum 282K 6/21; offline 6/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20210000000
BAKKEN9-20210000000
BAKKEN8-20210000000
BAKKEN7-20210000000
BAKKEN6-2021105126144137333832670
BAKKEN5-202131170319517331836181350
BAKKEN4-202130204119474324835280510
BAKKEN3-202131177717444504781274470

There are four Rink wells on that pad. Two of them continue to produce. Along with #26361, #26358 was also taken off line this past month:

The second well on this four-well pad taken off line:

  • 26358, 1,725, XTO, Rink 13X-4E, Garden, t4/14; cum 282K 9/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20210000000
BAKKEN9-20212193010511392484046750
BAKKEN8-202131150914442213814478820
BAKKEN7-202131160317482328831380530
BAKKEN6-202130183917011173838081390
BAKKEN5-202131216021041055731770780
BAKKEN4-2021156691191859265025540
BAKKEN3-202131188117441331617857620

A BR Franklin Well In Little Knife Comes Off Line -- January 1, 2022

The well:

  • 21708, 2,808, BR, Franklin 44-36MBH, Little Knife, t2/14; cum 262K 3/19; a little jump after coming back online after being off line for about two months, 3/19; went off line 10/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20210000000
BAKKEN9-2021251509182619871208118420
BAKKEN8-20212921392047336919071736167
BAKKEN7-202131432844494693410741021
BAKKEN6-20212424312259371221891971215
BAKKEN5-20212321602248409821096211485
BAKKEN4-20211450344140058950893
BAKKEN3-202112128211331179102810260

Pelosi's Investing -- January 1, 2022

 Posted earlier:

Pelosi: I have no idea why folks are upset with news of her recent equity trading. Has she not provided us her crystal ball? You may not like Pelosi, but you might want to look at her picks. It's not as if she doesn't know what's happening. For the record, she invested in Google, Roblox, and Disney, hardly earth-shattering.

Let's think about that.

Disney.

Disney is struggling right now. I think I heard CNBC suggest it was the worst performing company in the Dow this past year (2021). Covid-19 is "killing" park attendance, cruises, movie releases and attendance. 

I can't believe Pelosi didn't talk to the White House and Governor Newsom in California before betting millions on Disney. She must have been reassured with what she heard.

Google.

For the past several years folks have talked about FANG companies getting too big and talking about a need to break them up. Or put more regulatory restraints on them. With Pelosi betting millions on Google does it make sense that she would introduce legislation that would hurt Google?

Roblox?

She must watch Jim Cramer. 

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More Clever Than Folks Realize

For this to be accurate, the date for swearing in a new president had to have been moved forward. 

With the current incumbent, it only makes sense.


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Dinosaur State Park

Paluxy River

Paluxy River

Farmers Take Note -- January 1, 2022

US distillate inventories, link here:

Off The Net Much Of The Day -- Out And About With The Family -- January 1, 2022

Saudi Arabia foreign exchange reserves surge

But look at the 10-year for perspective. 

And, then, of course, this:

Borrowing big: unthinkable a few years ago.

Gulf Arab energy firms borrowed $30.5 billion in 2021, the highest level in at least 25 years, as the region’s national oil companies sought to inject foreign investment into their balance sheets.

Qatar Energy led the region in issuing debt, according to Bloomberg calculations. The company sold $12.5 billion of bonds in July to fund an expansion of its liquefied natural gas output capacity and cement its position as the world’s biggest exporter. 

Energy companies in the United Arab Emirates raised $7.7 billion in new debt, a four-year high for the country. Saudi Aramco, which dominated the region’s energy corporate debt market in the previous two years, was its third-largest borrower in 2021, with $6.5 billion. 

The Middle East’s petrostates borrowed more and even sought to sell some energy assets in 2021, in a series of moves that would have been unthinkable a few years ago.

And more:

Saudi Aramco, which dominated the region’s energy corporate debt market in the previous two years, was its third-largest borrower in 2021, with $6.5 billion. 

The Middle East’s petrostates borrowed more and even sought to sell some energy assets in 2021, in a series of moves that would have been unthinkable a few years ago.

Multi-billion-dollar deals for oil and gas pipeline networks in Saudi Arabia were struck this year, after Abu Dhabi agreed a similar transaction with foreign investors in 2020. 

Gulf Arab energy companies also sought to raise more debt while weathering the impact of the pandemic on the oil market, according to Carole Nakhle, chief executive officer of consultant Crystol Energy. 

“They were already struggling from the repercussions of the collapse in prices in 2014 only to be hit by this triple whammy of low oil prices, coronavirus and decline in volumes,” she said. 

Since oil prices are on course to finish the year more than 50% higher than the start, the pressure to raise debt is lessened for energy companies going into 2022.

“In terms of corporate debt, we might see that number shrinking next year simply because prices have recovered and the economies are progressing,” said Nakhle.

Saudi Arabia expects to deliver a budget surplus in 2022 -- a reasonable expectation if oil trades at around mid-$70 a barrel, according to Bloomberg Intelligence.

Earnings -- 4Q21

Note: this is, hands down, one of the most boring things I to do each quarter. I doubt anyone really looks at it but the day I quit doing this will be the day I miss posting something important. The word "important" is used loosely. Very loosely.

This is so boring that I actually didn't record a thing for 1Q20, but that was two years ago. Maybe things have changed. LOL.

This is linked at the top of the sidebar at the right during earnings season. After earnings -- pretty much after XOM and Apple posts their earnings -- this post will move back into obscurity.


Disclaimer: this is not an investment site.

Earnings -- 4Q21
September - December, 2021

This is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here. If this is important to you, go to the source. There will be content and typographical errors on this page. If something looks wrong, it probably is.

XOM could set the tone for energy stocks this quarter.

Zacks: link here -- UNP anticipates repurchasing shares worth roughly $7 billion in 2021. It expects a dividend payout of approximately 45% (of earnings) in 2021. These shareholder-friendly activities are also expected to have boosted the stock.

Zacks: link here -- OKE -- Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. In that report, analysts expect Oneok Inc. to post earnings of $0.89 per share. This would mark year-over-year growth of 28.99%. Our most recent consensus estimate is calling for quarterly revenue of $6.88 billion, up 167.83% from the year-ago period. Zacks gives is a #1, strong buy.

Does It Feel Like A New Year? January 1, 2022

MVP: West Virginia granted a water protection permit for the construction of the Mountain Valley Pipeline. The news follows Virginia's certification of a water quality permit for the project earlier this month, but that move is being challenged at the U.S. 4th Circuit Court.

FWIW: link here.

Indonesia: bans coal exports; domestic power worries.

Blog theme: OPEC+ meetings about to become a lot less relevant? Link here

Borrowing big: unthinkable a few years ago.

Gulf Arab energy firms borrowed $30.5 billion in 2021, the highest level in at least 25 years, as the region’s national oil companies sought to inject foreign investment into their balance sheets.

Qatar Energy led the region in issuing debt, according to Bloomberg calculations. The company sold $12.5 billion of bonds in July to fund an expansion of its liquefied natural gas output capacity and cement its position as the world’s biggest exporter. 

Energy companies in the United Arab Emirates raised $7.7 billion in new debt, a four-year high for the country. Saudi Aramco, which dominated the region’s energy corporate debt market in the previous two years, was its third-largest borrower in 2021, with $6.5 billion. 

The Middle East’s petrostates borrowed more and even sought to sell some energy assets in 2021, in a series of moves that would have been unthinkable a few years ago.

Global warming smacks Saskatoon: but at least it's a dry cold. Link here.

Arctic ice: spot the climate crisis.