Locator: 44728B.
Locator: 44728FORD.
Texas and Texas oil is back! For diners, Dallas is the new Dubai. Link here.
The crowds streaming into Highland Park Village are hungry for luxury. At this open-air shopping center in suburban Dallas, they valet-park their Porsches, sport Yves Saint Laurent handbags, flit in and out of Audemars Piguet and pause for brunch at Sadelle’s, the fancy new deli from Major Food Group in New York.
Sadelle’s has been open for just over a year, and it’s not unusual to find the place packed on a Tuesday afternoon, as well-dressed guests sip mimosas and snack on $18 pigs in a blanket [hot dogs] and $85 latkes [pancakes] topped with salmon and Osetra caviar. Even the sugar for coffee comes to the table in tiny Le Creuset Dutch ovens.
Sadelle's? 4.5 stars at Open Table. It's a "NY deli." It looks like the caviar and smoked salmon is the draw.
My best deli experiences: in Los Angeles, decades ago, with the love of my life and now my wife. We've never been able to duplicate those deli experiences. Never. But, apples to oranges, frog legs as a late night treat with a Bitburger in a small out-of-the way restaurant in Bitburg, Germany, was a very, very close second. That, too, we've never been able to duplicate.
My not-ready-for-prime-time comments earlier this morning to a reader:
- waiting for default ceiling talks to play out certainly providing some nice opportunities.
- with a 30-year horizon it doesn’t matter much, but it worked out well to buy ----- today rather than last week.
- stock pickers' market right now.
- Apple signed huge deal with Broadcom.
- oil up nicely. Someone said CVX got a good deal with PDC. I saw the same thing when I did back-of-the-envelope calculations. Posted late last night. Some Permian but almost all D-J — probably why they got such a good deal.
Amazon's clout: NFL to move better match-ups to TNF later in the season; link here.
- TNF: Thursday Night Footall, aired by Amazon Prime Video
- APV "free" with Amazon Prime subscription
Ford: a tough row to hoe. Link here to The WSJ, an "uphill climb."
Renewable energy: difficult to turn a profit
- Equinor nixes planned Norwegian Trollvind offshore wind farm
- would have been hugely expensive
Also, out of Norway:
*********************************
Back to the Bakken
Active rigs: 37.
WTI: $73.20.
Natural gas: $2.367.
Peter Zeihan newsletter.
Wednesday, May 24, 2023: 41 for the month; 93 for the quarter, 348 for the year
39238, conf, CLR, Skachenko FUI 4-31HSL, see this note.
38969, conf, Hess, GO-Aslakson-156-97-2734H-4,
38943, conf, Iron Oil Operating, Antelope 4-32-29H,
37848, conf, Slawson, Genesis 3-13H,
37850, conf, Slawson, Genekat Federal 6-13-12TFH,
37849, conf, Slawson, Loon Federal 3-24-35H,
RBN Energy: what's driving the energy industry's latest cycle of consolidation?
The energy industry’s upstream products — crude oil, natural gas and NGLs — are commodities, so the lowest-cost producers generally do best, especially if they are well-connected to downstream markets. Due in large part to the intensity of competition, finite drilling locations, the constant need for capital investment and the chilling effect of political headwinds, the industry is in the middle of a consolidation cycle that has enabled a select group of top-tier E&Ps to build scale — and longer-lasting inventories — in the most productive parts of the most lucrative shale plays. That scale, in turn, helps these Shale Era winners reduce their costs, gain market share and — important in 2023 and beyond — return a big slice of their free cash flow to investors as dividends and stock buybacks. In today’s RBN blog, we discuss what’s driving that “urge to merge” and what it means for industry players large and small.
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