Joining Norm.
I know folks love their homes and their McMansions, but I absolutely love apartment life. I don't think I would want it any other way, except possibly a little cottage on Flathead Lake.
If I've posted this once, I've posted it a dozen times:
Inelastic demand: in what appears to be a "bear market," Hershey chocolate traded at an all-time high today, closing near the intra-day high.
Hulu: a bit of the Masters -- looping tonight -- before I get back to Cheers. I have just started the second season. More on this later, perhaps.
The Book Page: I've almost completed Sebald's The Rings of Saturn. I cannot believe how good it really is. I don't think it's for many but for those who like "Virginia Woolf writing," this is outstanding. Maybe more later.
Sports:
LNG projects, link here:
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Back to the Bakken
Active rigs:
| $96.84 | 4/7/2022 | 04/07/2021 | 04/07/2020 | 04/07/2019 | 04/07/2018 |
|---|---|---|---|---|---|
| Active Rigs | 37 | 15 | 36 | 62 | 58 |
One permit approved, #38874:
Three producing wells (DUCs) reported as completed:
Note: CLR's Rolf Federal wells in Brooklyn oil field have been updated. These wells are tracked here.
Jobless claims, link here:
The number of new claims filed last week marked the least in more than five decades and represented a third consecutive week that new claims were below 200,000. The prior week's new claims were also markedly downwardly revised to 171,000, from the 202,000 previously reported for the end of March. Prior to the pandemic, new claims were averaging around 218,000 per week throughout 2019.
Some of the volatility in the most recent weekly jobless claims data likely reflects a change in the way the Labor Department adjusted the figures to account for seasonal factors. Starting in Thursday's report, the Labor Department returned to using "multiplicative" seasonal adjustment factors for the data. Over the course of the pandemic, the Labor Department had been using "additive" seasonal adjustment factors, which help smooth out large shifts in the data — as had been the case with the anomalous spikes in jobless claims that took place during the early wave of lockdowns in 2020.
Warren Buffett and HP, why? Link here.
The company squashed analyst profit forecasts for its first fiscal quarter (reported in late February), powered by strong sales of commercial computers and printers. HP said commercial computer and printer sales rose 26% and 9%, respectively, from the prior year.
The strength in commercial computers and printers offset a more muted performance for consumer products. HP said consumer PC sales fell 1%, while consumer printing sales dropped 23%.
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Goin' Fishin'
The well:
Meanwhile, another well impacted by newer wells is AB:
Masters: begins today, of course.With all the coverage "he" will get, hardly necessary for the other 90 players to show up.
Jobless claims. Pending.
Global SPR releases:
Commodities: could soar 40% as investors pivot.
Buffett: takes stake in HP. Stock soars.
Energy transition is dead. Trending today:
Equinor - Canada - Bay du Nord oil project: $12 billion project.
EVs:
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Back to the Bakken
Active rigs:
| $97.98 | 4/7/2022 | 04/07/2021 | 04/07/2020 | 04/07/2019 | 04/07/2018 |
|---|---|---|---|---|---|
| Active Rigs | 36 | 15 | 36 | 62 | 58 |
Thursday, April 7, 2022: 13 for the month, 13 for the quarter, 172 for the year
RBN Energy: as gasoline prices spike, how do electric vehicles stack up?
Even before the recent spike in crude oil and gasoline prices, the subject of a contentious House committee hearing Wednesday with executives from six large oil and natural gas companies, electric vehicles (EVs) were having a bit of a moment. From legacy brands such as BMW and General Motors to the EV startup Polestar, several automakers used their spots during February’s Super Bowl — the most-watched event on the TV calendar, where the cost for a 30-second ad went for a whopping $6.5 million — to highlight their latest EV offerings. Now, with gasoline prices about 50% higher than they were a year ago (and about 20% higher than they were on Super Bowl Sunday), EVs are getting a whole new level of attention from everyday drivers, not just Tesla fanboys, car afficionados, or the environmentally conscious. In today’s RBN blog, we look at whether the recent run-up in gasoline prices will help turn EVs into a more economical option.
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Initial Production Data
Today:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 2-2022 | 23942 | 36859 |
| 1-2022 | 29965 | 45588 |
| 12-2021 | 29886 | 43803 |
| 11-2021 | 39671 | 53241 |
| 10-2021 | 1177 | 0 |