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Thursday, June 23, 2022

Odds And Ends -- June 23, 2022

FEDEX: for those who missed it -- 4Q22 earnings here. Incredible report considering all the headwinds. And incredible guidance. 

Revlon: files for bankruptcy protection. The "wave" is just beginning.

Hiatus: link here

Hiatus: I'm trying to back away a bit, also, but it's difficult. Too much is happening. I am ignoring the market to the extent possible. But accumulating shares, sticking to plan. 

Buffett: link here.

Oil at $63. Holy mackerel. Again, an open book test.

They're reading the blog: earlier today -- or was it yesterday -- I asked rhetorically whatever happened to Biden's plan to jump-start the US semi-conductor sector. I had not seen a thing. Now this, link here. This is absolutely amazing: my twitter feed keeps telling me how great the DEMS are and here we have the US Congress unable to get their act together. Truly amazing. For those who have forgotten, the DEMS control the White House and the US Congress, both houses. 

 Much, much more. But we will have to wait until tomorrow. Going to take a break.

Weekly Petroleum Inventory Data Supplied By API And SeekingAlpha -- June 23, 2022

Shares of energy companies fell sharply on Thursday, again sitting at the bottom of the S&P 500 leaderboard, as signs of slowing consumption sent oil prices sliding to six-week lows. 

U.S. crude oil futures (CL1:COM) closed -1.8% to $104.27/bbl, the lowest since May 10, after the American Petroleum Institute estimated U.S. crude inventories surprisingly increased by 5.6M barrels for the week ending June 17, underscoring concerns about demand destruction.

The Energy Information Administration delayed the release of its weekly report on oil inventories due to problems with its systems; analysts were forecasting a 1.2M-barrel drop in crude inventories and an 800K-barrel decline in gasoline stockpiles.

U.S. natural gas futures (NG1:COM) settled -9% to $6.239/MMBtu, the lowest closing price since April 6, as stockpiles showed a bigger than expected build of 74B cf during the week ended June 17.

Germany's government moved closer to rationing natural gas after Russia cut deliveries in an escalation of the economic war triggered by the invasion of Ukraine.

Oasis With Six New Permits; Forty-Four Active Rigs -- Sailing -- June 23, 2022





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

NDIC map update: not yet on line. Goal had been to have it up and running June 14, 2022.
 
WTI: not even going to look.

Active rigs: 44 or thereabouts.

Six new permits, #39049 - #39054, inclusive:
  • Operator: Oasis
  • Field: Tobacco Garden (McKenzie County)
  • Comments: 
      • Oasis has permits for six Bergem wells in SWSE 33-151-99; 
        • to be sited 270 FSL and between 1913 FEL and 2078 FEL; 
        • I believe all six wells will be spaced at 1920-acres: sections 33, 28, and 21.
Three permits renewed / reinstated:
  • Enerplus: an Aldabra, a Loggerhead, and a Ridley permit, all in McKenzie County
Eight permits canceled:
  • Whiting (7): seven KCH Murphy wells in Mountrail County;
  • R360 Williston Basin, LLC (410): SWD
QEP transferred four wells to Oasis:
  • 22880, Bert, McKenzie,
  • 24685, G. Levang, McKenzie,
  • 29327, Jones, McKenzie,
  • 30607, Boggs, McKenzie,

Kroger -- Dividends -- June 23, 2022

Update

Later, 4:46 p.m. CT: see this link -- the new dividend rate will be 26 cents. I'm sure glad I post the links.

Original Post

Someone may want to fact check this.

MarketBeat  says KR has increased its dividend to $1.04 and is now yielding 8.79%. KR is Kroger, a grocer.  --- Wrong, see above. 

Kroger paid 18 cents in 2020 and early 2021, and then in late 2021, increased the quarterly dividend to 21 cents. 

Ticker KR
  • up 1% tooday
  • previous yield: 1.76%
  • new yield: 8.8% -- wrong -- see above.
  • trading at $47.82
  • 52-week high: $62.78
  • 52-weel low: $37.26
Am I looking at the same company? The same "KR"?

Inflation? What Inflation? McDonald's Advertising On-Line French Fries At $1.00 -- June 23, 2022

Suggestion: McDonald's has all the data. My recommendation: skip the "small, medium, and large" portions of French fries. Have one size. One size. Period. One size, and price it at the medium or large price, and make the size no bigger than medium. 

The Sports Page

PGA: No clear franchise player. Maybe McIlroy. In the old days, Tiger Woods and Mickelson. Now, a dozen for the nucleus at the top, and none are even close to either Mickelson or Woods. I'm hoping Rory McIlroy could be that next leader.

PGA: amazing how much money this "non-profit" found to pay its champions when threatened by the LIV. Amazing. The PGA players need to send a letter of thanks to Phil Mickelson. 

NHL: barring the most unexpected, Colorado will easily take the Stanley Cup, leading the best of seven series, 3 - 1. 

NCAAF: Arch Manning has committed to UT-Austin. Texas. College players can now earn money while playing college football. No state income tax in Texas.

Bakken DUCs -- June 23, 2022

 Bakken DUCs.

Data sent to me by a reader. 

First column, month-year.


Bakken


Drilled

Completed

DUC

Dec-13

--

--

570

Jan-14

178

143

605

Feb-14

210

158

657

Mar-14

224

218

663

Apr-14

217

207

673

May-14

226

208

691

Jun-14

236

225

702

Jul-14

250

243

709

Aug-14

226

207

728

Sep-14

256

232

752

Oct-14

186

243

695

Nov-14

209

202

702

Dec-14

224

194

732

Jan-17

62

52

781

Feb-17

51

58

774

Mar-17

78

71

781

Apr-17

78

104

755

May-17

94

82

767

Jun-17

76

105

738

Jul-17

95

103

730

Aug-17

99

110

719

Sep-17

98

97

720

Oct-17

104

110

714

Nov-17

93

86

721

Dec-17

77

65

733

Jan-18

107

72

768

Feb-18

74

74

768

Mar-18

95

90

773

Apr-18

109

110

772

May-18

124

131

765

Jun-18

108

118

755

Jul-18

134

155

734

Aug-18

108

138

704

Sep-18

108

122

690

Oct-18

120

118

692

Nov-18

110

99

703

Dec-18

108

70

741

Jan-19

120

71

790

Feb-19

108

56

842

Mar-19

111

110

843

Apr-19

118

112

849

May-19

127

127

849

Jun-19

118

149

818

Jul-19

122

122

818

Aug-19

122

144

796

Sep-19

110

88

818

Oct-19

116

108

826

Nov-19

96

88

834

Dec-19

94

86

842

Jan-20

99

98

843

Feb-20

94

100

837

Mar-20

94

108

823

Apr-20

69

33

859

May-20

33

14

878

Jun-20

18

11

885

Jul-20

18

22

881

Aug-20

19

27

873

Sep-20

18

51

840

Oct-20

19

41

818

Nov-20

20

31

807

Dec-20

20

50

777

Jan-21

20

41

756

Feb-21

19

24

751

Mar-21

25

45

731

Apr-21

27

46

712

May-21

29

62

679

Jun-21

31

35

675

Jul-21

32

63

644

Aug-21

39

71

612

Sep-21

41

81

572

Oct-21

43

82

533

Nov-21

47

78

502

Dec-21

52

75

479

Jan-22

53

75

457

Feb-22

64

75

446

Mar-22

66

76

436

Apr-22

69

76

429

May-22

75

78

426