WTI Plunges; DE Beats -- February 17, 2023

WAG: listening to PARA earnings call yesterday, one analyst said -- "buy Netflix."

CVX: link here.

• announces upwards of 100,000 bopd from Venezuela

Putin's gift to XOM: link here.

• huge profits could drive XOM to make huge acquisition

If Hart Energy is reporting it, it's old news, but for the record: link here:

• BP acquires TA for $1.3 billlion
• BP acquisition will add 280 travel centers across the US
• think footprint locations for EV charging;

Ford / CATL: 

Projection: link here.

Mercedes-Benz: link here.

TSM: cut dividend, to 35.97 cents. 

• one site says the cut was to 35.97 cents;
• this site says new dividend: 43.94 cents, record 3/17/23; payment, 4/13/23
• previous quarter: 45.1278 cents;
• a year ago: 47.5613 cents;

Enbridge: misses, link here.

• EPS: 46 cents vs 56 cents; last year, 54 cents;
• revenue: $9.888 million; down from $9,893 million one year ago
• the weak quarterly results were primarily driven by lower contributions from the Renewable Power Generation Segment
• this will not sit well with energy investors
  
• is ENB losing its focus?

DE: link here.

• IBD
• earnings more than double
• guides high
• EPS: jumped 124%; $6.55 vs $5.57 estimate
• revenue: surged to $12.652 billion vs $12.325 billion
• guided net income of $8.75 billion to $9.25 billion
• well above consensus estimates of $8.31 billion
• DE closed down $7 yesterday; pre-market today, up $10
• a huge thank-you to a reader getting me into DE over a year ago; it's now a regular part of my "new-money" allocation (40-30-20-5-5) -- for the archives.
  

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

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Back to the Bakken

Active rigs: 46.

Peter Zeihan newsletter.

WTI: $75.80,

Natural gas: $2.348.

Sunday, February 19, 2023: 54 for the month; 125 for the quarter, 125 for the year
39092, conf, Kraken, Lyman 20-17-8 3H,
37420, conf, Petro-Hunt, Powell 159-93-31C-30-2H,

Saturday, February 18, 2023: 52 for the month; 123 for the quarter, 123 for the year
38884, conf, WPX, Palo Pinto 20-17A,
38429, conf, Whiting, Nesheim 11-24H,
38414, conf, Liberty Resources, AZ W 158-93-13-24-3MBH,
38038, conf, Petroshale, Tahu 4TFH,
38037, conf, Petroshale, Tahu 2TF2H,
38035, conf, Petroshale, Tahu 3MBH,
38034, conf, Petroshale, Tahu 3TFH,
38033, conf, Petroshale, Tahu 2MBH,
37421, conf, Petro-Hunt, Blikre 158-93-6B-7-1HS,

Friday, February 17, 2023: 43, for the month; 114 for the quarter, 114 for the year
39005, conf, CLR, Rhonda 3-28H,
38426, conf, Hess, HA-Dahl-152-95-0706H-9,

RBN Energy: when it comes to forecasting the IRA's full impact, the devil's in the details, part 2. Archived.

It’s not the most accurately named piece of legislation, but that doesn’t mean the Inflation Reduction Act (IRA) might not have an outsized impact on everything from electric vehicles (EVs) and hydrogen production to greenhouse gas (GHG) emissions and carbon-capture projects. There’s plenty of potential for things to happen in the long run, but before then, a lot needs to get done — including the rules and regulations that will guide the IRA’s implementation. In today’s RBN blog, we look at why the IRA remains a work in progress, the critical role that rulemaking will play, and potential impediments to the law’s long-term success.