Thursday, January 5, 2023

A Most Amazing Moment In History -- January 5, 2023

Headlines:

  • Damar Hamlin: "Who won the game?"
  • Remarkable "news" coming out of Ukraine.
    • Putin to declare unilateral cease fire
    • armored vehicles
  • Bed, Bath and Beyond: to file for bankruptcy?
  • McCarthy: fails on tenth eleventh vote
  • Crypto: another files for bankruptcy
  • SNOW: if he still holds this position, he's down 50% for the year (for SNOW)?
  • Has market re-set?
    • New trading range?
    • New era of 5% overnight interest rates?
      • Is that bad? Or just something new from which we can profit?
      • How did it happen that we dropped to "free money" in the first place?
    • Is cash now king? What does that mean for a company with billions in cash?
    • High rates --> high monthly mortgages --> housing market crushed.
      • Is auto market next? If so, the canary in the coal mine?
      • EVs?
  • South Carolina: state supreme court nullifies ban on abortion.
  • 60 Minutes: why Paul Ehrlich now?
  • Oil
    • has gasoline demand re-set?
    • CVX: oil company in "a sweet spot"?
    • XOM: also in "a sweet spot"?

Gasoline demand, link here.

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

Active rigs: link here.

WTI: $73.90.

Natural gas: $3.756.

Four new permits, #39545 - #39549, inclusive:

  • Operator: Hunt (3); Petro-Hunt (2)
  • Field: Clear Water (Mountrail); Little Knife (Billings)
  • Comments:
    • Hunt has three Redmond permits; NWNE 19-157-89; 
      • to be sited 325 FNL and between 1743 FEL and 1803 FEL
    • Petro-Hunt has two Terres permits; NENW 13-144-98; 
      • to be sited 590 FNL and one at 1903 FWL and one at 1938 FWL

One producing well (a DUC) reported as completed 

  • 34302, 2,451, XTO, Rough Federal 44X-23D, Banks, t--; cum 155K 11/22;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20222953164532322118487599835484051
BAKKEN10-2022318298182881369881519411486113330
BAKKEN9-2022918663182641230228332266001732

Two permits canceled:

  • Oasis: two MHA permits in Dunn County;

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