Friday, April 14, 2023

No New Permits; Eight DUCs Reported As Completed; WTI Holds Above $82 At Market Close -- April 14, 2023

Locator: 44395B.  

Active rigs: 41

WTI: $82.52.

Natural gas: $2.114.

No new permits.

Eight producing wells (DUCs) reported as completed:

Putin: Detached, Demonic, And D-- In Diplomatic Affairs -- April 14, 2023

 Locator: 44394E.  

A brief psychological assessment.

Link here.

EVs -- Biden -- WSJ -- April 14, 2023

 Locator: 44393E. 

Link here.


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The Book Page

The Lioness of Boston not yet available on Amazon. Bummer. To order from publisher, $7.00 shipping.

Will wait awhile and see if Amazon carries it.

Link here.

Great review here.

We've visited her home many, many times.

TGIF -- April 14, 2023

 Locator: 44392F.  

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Excel Shortcuts

Link here

Investing Notes -- April 14, 2023

Locator: 44391I. 

Big Pharma: Benzinga is usually pretty good but this particular article seems to me to be clickbait. Be that as it may, it's quite interesting. As regular readers know, my "new money" allocation is "40-30-20-5-5" with one of the 5's for Big Pharma.


. From the Benzinga article:

  • Horizon Therapeutics PLC
  • Procter & Gamble
  • Johnson & Johnson
  • Amazon One Medical and Amazon Pharmacy
  • Cost Plus Drugs

Five high-dividend stocks picked by Billionaire Ray Dalio. I believe this has been previously posted:

  • #1: Devon
  • #2: Altria
  • #3: Walgreeens Boots Alliance
  • #4: US Bancorp
  • #5: Phillip Morris

JPMorgan: up 7% at the open.

BUD: up on the day

On a day that looks like this, Bud is up. Tell me again, that this is nothing but a meme story and a great opportunity. I don't invest in Bud because it does not meet two of my top three criteria for owning a stock.

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

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

The Data Centers In One County In Virginia -- April 14, 2023

Locator: 44390B. 

The "hugeness" about the US never ceases to amaze me.

Link here.

By the way, talking about "huge," the USAA complex in San Antonio is "bigger" than the Pentagon.

  • Pentagon: 30,000 military personnel and non-defense support employees.
  • San Antonio, USAA: 43,000 personnel.

A Stand-Alone Post -- The Story Is That Big -- April 14, 2023

Locator: 44389B. 

This is really cool. It makes so much sense.

The largest market for EVs is and will be China.

China is converting from crude-oil-fueled ICEs to coal-fueled EVs. The same thing will eventually be true of Europe, and far enough down the road, possibly even in the US.

Link here.


A long-time reader saw this coming more than ten years ago.

Natural Gas Breaks Below $2.00 (Again) -- April 14, 2023

Locator: 44388C.

Rate hike? What rate hike? Folks starting to talk about another round of QE. Link here to The [Londoon] Telegraph.

If you thought that zero rates and quantitative easing were a bad dream that we can all forget, you may be in for a surprise. It is again becoming clear that deflation remains the overarching structural threat to the world economy.

A few brave analysts are already starting to flag a return to emergency QE as soon as next year, convinced that the US Federal Reserve and the European Central Bank have over-tightened and set in motion a deepening credit crunch.

Fed minutes published on Wednesday night reveal that the Fed’s own staff think that contagion from the collapse of Silicon Valley Bank has all but guaranteed a recession starting later this year.

This will smother any lingering pockets of overheating and lead to an output gap in the US economy by early next year, accompanied by plummeting inflation.

The larger point is that traumatic events of the last three years have not led to lasting inflation after all, let alone a replay of the Great Inflation in the 1970s. 

Agree completely with that "larger point." As regular readers know, I was never all that concerned with "inflation." Be that as it may, more and more talk of a pause, one more rate hike, and then a rate cut as early as this year. Although a rate hike and a rate cut occurring so close together seems incredibly unlikely. So, either no more rate hikes this year, and / or one last  25-bp rate hike this year followed by a 25-bp rate cut in 1Q24. Election year. 

Natural gas: the Netherlands. Link here. See this post from 2018.


Bank earnings fears? JPMorgan did not get the memo. Wow, I get tired of all the hand-wringing.

BUD: is this story already over? Pre-market suggests market will open lower; BUD will surge 1.5%.

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Back to the Bakken

Active rigs: 43.

Peter Zeihan newsletter.

WTI: $82.52.

Natural gas: $1.983.

Monday, April 17, 2023 -- taxes due: 31 for the month; 31 for the quarter, 286 for the year
38866, conf, Liberty Resources, CA S 158-93-21-23-3MBHX,

Sunday, April 16, 2023: 30 for the month; 30 for the quarter, 285 for the year
38638, conf,  Whiting, Braaaflat 11-11-3H,
38372, conf, Oasis, Rey Federal 5201 32-11 3B,

Saturday, April 15, 2023: 28 for the month; 28 for the quarter, 283 for the year
None.

Friday, April 14, 2023: 28 for the month; 28 for the quarter, 283 for the year
38560, conf, Hess, GO-HAUG-156-98-3031H-5,
38559, conf, Hess, GO-HAUG-156-98-1918H-5, 

RBN Energy: Energy Transfer steps up its Permian game with Lotus Midstream deal, part 5

It’s not just the upstream side of the Permian that’s in the midst of a major consolidation. Over the past couple of years, a slew of significant M&A deals have been made in the midstream space, most recently Energy Transfer’s $1.45 billion plan to acquire Lotus Midstream. Backed by private equity, Lotus has assembled an impressive array of crude-oil gathering, storage and long-haul pipeline assets in West Texas and southeastern New Mexico — including the Centurion pipeline system that links the Permian with the crude oil hub in Cushing, OK. In today's RBN blog, we discuss the deal and what it means for Energy Transfer, whose role in the U.S.’s most prolific crude-oil-focused production area is poised to expand by leaps and bounds.

OXY: Vicki Hollub said earlier this week that Permian production has not yet peaked.