Producing Wells (DUCs) Reported As Completed This Past Week -- May 14, 2022

May 13, 2022:

• 31003, 0 - not atypical for BR, BR, Cleetwood 31-27TFH-A,
• 38547, 1,217, Ovintiv, Wisness State 152-96-16-21-21H,

May 12, 2022:

• 37905, 1,457, CLR, Charolais South Federal 7-10H2,
• 37906, 1,495, CLR, Charolais South Federal 8-10H,
• 37907, 1,083, CLR, Charolais South Federal 9-10H1,
• 37908, 1,473, CLR, Charolais South Federal 10-10H,

May 10, 2022:

• 38545, 1,394, Ovintiv, Wisness State 152-96-16-21-14H,
• 38546, 1,634, Ovintiv, Wisness State 152-96-16-21-5H,
• 38548, 1,070, Ovintiv, Wisness State 152-96-16-21-6H,

LUNA -- May 14, 2022

SeekingAlpha, May 12, 2022.

• The fact of the matter is Terra LUNA plummeted in devastating fashion. And because Terra LUNA acts as one of the currencies backing TerraUSD it too took a significant nosedive.
• What went wrong is people lost confidence in this system that had been working. A whole lot of investors dumped both Terra LUNA and TerraUSD.
• It’s going to take a long time for Terra to regain the trust of investors. And as of right now, there doesn’t seem to be anything in place to keep what happened to Terra LUNA and TerraUSD from happening again.

"Stablecoin," Investopedia: What Is a Stablecoin?

Stablecoins are cryptocurrencies the value of which is pegged, or tied, to that of another currency, commodity or financial instrument. Stablecoins aim to provide an alternative to the high volatility of the most popular cryptocurrencies including Bitcoin (BTC), which has made such investments less suitable for wide use in transactions.

• Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference.
• Stablecoins are more useful than more volatile cryptocurrencies as a medium of exchange.
• Stablecoins may be pegged to a currency like the U.S. dollar or to the price of a commodity such as gold.
• Stablecoins pursue price stability by maintaining reserve assets as collateral or through algorithmic formulas that are supposed to control supply. 

Fascinating Turn Of Events -- May 14, 2022

"3 Buffett Stocks to Avoid Like the Plague in 2021" -- The Motley Fool, January 4, 2021.  

When it comes to investing, Warren Buffett's name is practically synonymous with wealth and success. According to figures in the most recent annual shareholder letter from Berkshire Hathaway (BRK.A 0.73%)(BRK.B 0.75%), the conglomerate Buffett has run for five decades has returned an average of 20.3% for shareholders since the beginning of 1965. That's an aggregate return of over 2,700,000% in 55 years, which absolutely trounces the broader market.

The interesting thing about Buffett is that he's not doing anything any retail investors couldn't themselves do. Finding companies with sustainable competitive advantages and holding onto them for long periods of time requires nothing more than conviction and patience.

But the Oracle of Omaha and his investment team aren't perfect. Of the roughly four dozen securities currently in Berkshire Hathaway's portfolio, three should be cordoned off with yellow tape and avoided like the plague in 2021."

Is It Too Late to Buy Snowflake Stock?" -- nasdaq.com -- The Motley Fool, February 10, 2022.

Cloud-based data platform Snowflake (NYSE: SNOW) went public in late 2020 amid a ton of hype, including its rapid growth and backing from Warren Buffett, whose Berkshire Hathaway bought $250 million in shares at the IPO price. The stock went to sky-high valuations in its early trading days.

Now, more than a year later, Snowflake continues to execute at a high level, and its shares continue trading at a premium to most stocks on the market. Warren Buffett himself once said that wonderful companies at fair prices are far superior investments to fair companies at wonderful prices.

So where does Snowflake fall on this spectrum, and is it too late for investors to own the stock and still generate strong investment returns? Here's the information that could help answer these questions.

May 13, 2022:

My hunch: Buffett is very unhappy with his two lieutenants. The money hardly matters. It's the embarrassment of knowing he signed off on this investment.

Week 19: May 8, 2022 -- May 14, 2022

Top story of the week:

• Joe Biden is still president.

Top international non-energy story:

Top international energy story:

• OPEC+ has no spare capacity ... and that was before Putin's War.

Top national non-energy story:

• Baby formula shortage, an orchestrated shortage.

Top national energy story:

• With record high gasoline prices, the Biden administration scraps new leasing in Alaska, GoM.

Top North Dakota non-energy story:

Top North Dakota energy story:

Geoff Simon's top North Dakota energy stories:

• Quick connects.

NDIC website down for the entire week. No data available except daily activity report and Director's Cut.

Commentary.

Ten New Rigs Coming Online This Summer? May 14, 2022

NDIC is reporting about 39 active oil and gas rigs as of yesterday, Friday, May 13, 2022. 

A reader happened to catch this post of May 10, 2022, over at Facebook. 

Reason #4 Why I Love To Blog -- May 14, 2022

From the blog, yesterday:

Chart of the day:

US refining margins surge to a fresh all-time high; above $55 per barrel -- that's the margin. Link here. 

I didn't get that excited about the chart; what interested me was the WTI 3-2-1 crack spread. The question is why the crack spread is not WTI 3-1-2? 

The answer? The Keystone XL was killed. Not enough heavy oil to make enough heating oil, diesel to meet demand. I guess that's not correct. Refiners are meeting demand ... but just at a very high price for consumers. 

Now, today, over at twitter, a very, very long thread with actionable investing intel.