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

Link here:

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

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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