Later: a reader asked whether small mom-and-pop mineral owners participate in FIU (federal) wells or if royalties only extend to federal government. That was an interesting question. They've written CLR but have received no answer. Maybe a reader knows. I certainly don't. First time this has come up.
Original Post
This should be exciting for a number of small mom-and-pop mineral owners.
Springfield FIU, Brooklyn oil field, tracked here;
From the NDIC hearing dockets agenda, July, 2022, a new operator? SEG Williston, LLC.
100 River Bluff Dr Ste 500
Little Rock, AR 72202-2285
one contact on record: Stephens Williston, LLC, from Little Rock, AR
AUSTIN, Texas, July 2, 2022 – In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control.
June 2022 was the highest vehicle production month in Tesla’s history.
Tesla will post its financial results for the second quarter of 2022 after market close on Wednesday, July 20, 2022.
***************************
The Movie Page
Wow, I did not know this.
Costumes, Funny Face, 1957: Edith Head.
Wow.
The movie is all about fashion, and the producer / director chose .... Ms Edith Head.
The personalities associated with this movie -- simply amazing. But Ms Edith Head seems, to me, to be at the top of the list. And the list includes Audrey Hepburn.
I'm not sure if I've ever watched this movie or even parts of it, but now that I'm seeing what I'm seeing on TCM, I am blown away by the movie. The fashion really is extraordinary.
Edith Head, born 1897, and died, 1981.
Amtrak.
By 2035, Amtrak plans to add train service between Detroit and Toronto with a 4:46 travel time. In China, this would take about an hour. To wait 15 years for a train that's almost 4 hours longer than our geopolitical competition is regressive.
No, not regressive. Criminal.
*************************
Never Open On Sundays
No political agenda.
Simply great sandwiches.
And great service.
With a smile.
I haven't been to a fast food restaurant "in ages." Prices are approaching what I used to pay for a four-star experience in San Diego.
************************
The Book Page
Best thing I ever did this summer: subscribe to Science. A weekly. Every week.
Second best thing I did this summer: commit to reading one new book each week.
Meanwhile, Andrew Keen things we should all read Peter Zeihan, c. 2022.
From Houston Chronical, July 1, 2022:
The total estimate of the world’s recoverable oil is down 9 percent this year, though estimates are up in the U.S.
Recoverable oil is the amount companies could produce using available technology, according to the U.S. Geological Survey.
While most countries will lose oil resources this year, the U.S. will add 8 billion barrels to its discovered resources.
Overall the U.S. is second for total recoverable oil with an estimated 193 billion barrels while Saudi Arabia is first with 275 billion barrels.
If one assumes, Saudi Arabia's numbers are exaggerated, and the Bakken is underestimated, the US, in fact, may be threatening Saudi Arabia for the lead.
And, of course, there is always Venezuela.
To put this in perspective, from January 6, 2022 (just six months ago):
I get a kick out of pundits back to arguing whether the US is energy-independent or energy-dependent.
That train has left the station.
The US is now energy dominant.
I was not the first to say that -- others are starting to say that -- but that view is corroborated by the graphic at this link.
Holy mackerel. When I went to tag this, I had forgotten I already had the tag: "US_Energy_Dominance."
The first post with that tag was posted December 10, 2019.
One might want to google US energy dominance, putting it in quotes. You might be surprised at the first hit on google.
But look at this. From Bloomberg, only one month ago, "US to become 'Energy Dominant' on global price jump, Bank of America" -- December 1, 2021.
From Summer, 2020, edition of International Economy, Today: Dominance Denied. How America's pursuit of energy domination destroyed the oil industry.
Perhaps better said: how America's pursuit of energy domination destroyed Big Oil allowing Small Oil to takeover.
The usual disclaimers apply.
I've moved AAPL from "tech" to "value" in my portfolio "sectors."
Chips, semiconductor: link here.
June 28, 2022: transistors on a chip. Apple still #1.
Note: this is the most current update over at wiki, and with 114 billion transistors on an M1 chip, Apple easily leads the field.
But, Apple will release the new Apple MacBook Air laptop next month (July 15, 2022) with an even more powerful chip, the M2.
By the way, while we're at it, Apple will also introduce the USB 4 port for this laptop also.
A lot of folks are "laughing" at this, but in fact, this is how all high-value sports and enteertainmeent contracts should be structured. It would be a win-win for everyone. Contracts for the CEOs of the Fortune 500 companies are often structured this way.
Huge repercussions yet to be seen.
Wiki entry: https://en.wikipedia.org/wiki/Sakhalin-II. Marathon got out just in time.
Japan: https://twitter.com/SStapczynski/status/1543103635084546048.
Putin’s War. Absolutely huge.
Peter Zeihan, c 2022.
From Reuters the other day:
President Vladimir Putin has raised the stakes in an economic war with the West by signing a decree to seize full control of the Sakhalin-2 gas and oil project in Russia's far east, a move that could force out Shell and Japanese investors.
I would suggest that Putin is doing desperate things.
Separate from Putin's decree re Sakhalin-2, XOM is winding down operations at Sakhalin-1; production has been cut by 95%.
Sakhalin-I wiki entry. This is an incredible story.
OXY: Buffett just bought more. https://twitter.com/OpenSquareCap/status/1543073290754764800.
JPM: finally, someone gets it — https://twitter.com/zerohedge/status/1542976445525495808.
Recession, GDP:
Gasoline prices:
XOM: twitter on fire overnight re XOM's 2Q22 earnings
OPEC:
Texas power:
September 21, 2022: Motley Fool update; bragging rights in the Bakken?
July 11, 2022: BLM lease sale; Whiting high bidder.
Oasis + Whiting: July 1, 2022.
Ticker: CHRD
Compare to Continental Resources, link here:
