The Gingerbread Man: WTI At $81.22; Four Wells Coming Off Confidential List -- April 4, 2023

Locator: 44301B.

Trump: for the archives. Arraigned today. No live cameras.Some think "Rule 25" in play. Until yesterday, I did not even know what "Rule 25" was.

Oil: pre-market, oil gains a little. A bit of a surprise.

Saudi's "surprise cut": still perplexing, but the more one thinks about it, listing pros / cons; likely / unlikely on a yellow legal pad it comes down to a few things:

• Saudi's animosity toward Biden
• the Russian-US proxy war in Ukraine
  
• Ghawar: is it starting to "fail" (don't take out cf context)?
• Credit Suisse
• at all costs, protect that $80-floor

AMC: pre-market, down almost 30%.

UNP: pre-market, wow. Huge swing, from up almost $6.00 to slightly red now (6:23 a.m. CT).

AAPL: a lot of upbeat stories over the past few days.

• Apple is coming after META; headset; AR/VR
• indications AAPL soon to announce additional buybacks; increase dividend

Re-posting: did OPEC+ just  kill the tech rally. A must-read post from Michael Fitzsimmons.

Banking crisis: is Schwab "out of the woods," yet? I don't know. What do traders think?

• Yesterday, SCHW down 1.55%; today, pre-market, up 0.75%. Mixed message. 

Tesla: swelling inventories. Link here.

Movies: top upcoming action movies. Link here.

• it appears "Hollywood" held back a lot action movies until now
• sound tracks awesome -- a lot of 60s music
• sequels abound
• Apple TV: Ghosted -- with links to "Deadpool" and Top Gun: Maverick."
  

Dean Martin: back?

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Back to the Bakken

Active rigs: 44.

Peter Zeihan newsletter.

WTI: $81.23.

Natural gas: $2.100

Wednesday, April 5, 2023: 12 for the month; 12 for the quarter, 267 for the year
38690, conf, Ovintiv, Clear Creek Federal 152-97-36-25-5H,
38627, conf, Whiting, Kannianen 11-4-3H,

Tuesday, April 4, 2023: 10 for the month;10 for the quarter, 265 for the year
38847, conf, Enerplus, Seam 149-93-05A-08H,
38823, conf, Whiting, Ryder Olson 31-1HR,
38605, conf, Hess, EN-Farhart-156-93-0409H-H
38322, conf, Whiting, Braaflat 11-11-2H,

RBN Energy: LIGH2T hydrogen hub seen as platform for industrial-scale decarbonization, part 3. Only because North Dakota is involved am I interested in hydrogen. Archived.

There’s been a lot written about the federal government’s plan to provide billions of dollars in financial support to create a limited number of regional hydrogen hubs but not a lot of insight about how those hub proposals are being crafted to meet the Department of Energy’s (DOE) selection criteria. The details and strategies behind those plans have been hard to come by because few of the initial concept papers were made public while others remain a mystery, even months after the first informal winnowing of candidates. One exception is the Leading in Gulf Coast Hydrogen Transition (LIGH₂T) hub proposal being prepared by a consortium that includes a large group of states, some key commercial partners, several universities and the National Energy Technology Laboratory (NETL). In today’s RBN blog, we look at what we know about the LIGH₂T proposal, which will submit a full application by the April 7 deadline, and how it addresses three key factors likely to play a role in the selection process.