Cyber Monday -- November 27, 2023

Locator: 46184B.

Page views: overnight, last 12 hours -- 723. 7:41 a.m. CT.

NE Patriots: quarterback benched at half-time. Time to bench Belichick? Tea leaves: he will survive the regular season.

Gaza: truce to be extended for two days.

Flu season: off to a slow start. 

Cyber Monday: best deals. Engadget.

• some Lego sets as much as 53% discount;
• I may visit our local Bricks and Minifigures store today; not sure yet;
  

Not Paramount?  Taylor Swift’s “Eras Tour” to stream everywhere except on Disney+, Hulu, and Paramount? Apple and Amazon Prime  figure prominently. Link here. Ticker DIS down 1% in early Cyber Monday trading. Same with PARA.

Market: early trading -- BRK-B down 1%; AAPL? Green.  MSFT: hits a new all-time high.

F1 Las Vegas: exceeded expectations.

USAF news: X-37B update.

• sixth mission completed: 906 days in orbit; launched May 17, 2020 recovered November 12, 2022; 
• mission described as a success
  
• seventh mission:
• first time to be launched from an Elon Musk Space X Falcon Heavy
• launch date: December 7, 2023
• recovery date: unannounced

DFW: a bit cool this morning -- everyone wearing parkas at the school bus stop

• inside the apartment, probably 70°F -- that's what the thermostat shows and the furnace is turned off
• Bat Cave: surprisingly toasty warm
• clear; it's going to be an incredibly beautiful day.

Headlines from yesterday, November 26, 2023.

Focus on fracking: November 26, 2023, "issue" released.

Bakken activity of interest:

• Kiefel: CLR has fracked the Kiefel wells in West Capa.
• North Fork: BR active in North Fork.
• Pershing: BR active in Pershing.
• Dennis / Flint Chip: the incredible CLR wells have been updated.
• Enerplus LK Bice: incredible wells in Big Gulch.
• Kukla: the CLR wells in Chimney Butte have reached 500K bbls crude oil cumulative.

****************************
Bakken News Today

WTI: $75.00

Tuesday, November 28, 2023: 140 for the month; 140 for the quarter, 710 for the year
39820, conf, Crescent Point Energy, CPEUSC Matilda May 6A-29-32-158N-1000W-MBH-LL,
39814, conf, CLR, North Tarentaise Federal 10-18H2,
39145, conf, Enerplus, LK Bice 147-96-6-31-2H,
37109, conf, BR, Carlsbad 3D MBH,

Monday, November 27, 2023: 136 for the month; 136 for the quarter, 706 for the year
39772, conf, CLR, North Tarentaise Federal 2-18H,

Sunday, November 26, 2023: 135 for the month; 135 for the quarter, 705 for the year
38781, conf, Oasis, Peregrine 54001 442-24 3B,
37108, conf, BR, Carlsbad 3C UTFH,

Saturday, November 25, 2023: 133 for the month; 133 for the quarter, 703 for the year
39144, conf, Enerplus, LK Bice 147-96-6-31-1H, 

RBN Energy: oil and gas producers' earnings rebound in 3Q23 after a five-quarter slide.

The cacophony of Black Friday promotions may make us all wonder if the “giving thanks” part of the fourth Thursday of November has been subsumed by rampant consumerism. But we suspect that E&P executives sat down to more traditional celebrations of gratitude as the upstream part of the oil and gas industry rebounded nicely in Q3 from five consecutive periods of declining profits and cash flows. In today’s RBN blog, we analyze Q3 2023 E&P earnings and cash flows and provide some perspective on the past and future profitability of U.S. oil and gas producers. 

Over the past three years we’ve chronicled the remarkable recovery of the U.S. E&P sector from its dramatic price crash at the onset of the pandemic in early 2020. The recovery was fueled by rising commodity prices and the strategic transformation to a fiscally conservative model that prioritizes cash flow and shareholder returns. Producers’ earnings reached historic highs in Q2 2022, but steadily declined in subsequent quarters with oil and natural gas prices. As we explained in Bottoms Up, results reached a recent nadir in Q2 2023. Then, the 40 E&P companies we monitor reported pre-tax operating earnings of $12.18/boe and cash flow of $22.95/boe, down 71% and 55%, respectively, from the high five quarters ago.