Locator: 44882B.
EIA dashboards:
Three consecutive months, Bakken is the only one with "up" arrows. And both arrows are "up."
Locator: 44881WTI.
Locator: 44881MKT.
The Great Reset: March, 2023.
If you don't feel we're in a bull market, it might be because you're overweight in oil.
Oil: "utilities" or "cigarette companies" --
Locator: 44879HEALTH.
Red Bull is a brand of energy drinks created and owned by the Austrian company Red Bull GmbH. With a market share of 43%, it is the most popular energy drink brand as of 2020, and the third most valuable soft drink brand behind Coca-Cola and Pepsi.
Since its launch in 1987, more than 100 billion cans of Red Bull have been sold worldwide, including over 11.5 billion in 2022.
“Our quest was to identify which molecules change with age,” said Yadav. “What we found was that many molecules decreased in abundance with age but there was one that went down dramatically.”
That was taurine. Levels of the amino acid in the blood were 80% lower in elderly people than in younger people, Yadav and his colleagues found. They theorized that declining levels of taurine could drive aging—and that boosting taurine in the body could slow the process.
Yadav and collaborators around the world probed how different taurine levels affected yeast, worms, mice, monkeys and people. Taurine appeared to affect the health or lifespan of all the organisms except for yeast, Yadav said. Yeast was the only organism tested that doesn’t produce taurine, he said.
Taurine has been used clinically in Japan to treat congestive heart failure, and some athletic supplements and energy drinks including Red Bull contain taurine. Meat and seafood are high in taurine, too.
And to think this all started with Bud.
Locator: 44878WIND.
Proposed (sent to me by a reader, thank you very much).
New wind farm proposed:
This is important:
Also, a fertilizer plant, link here:
A fertilizer plant could be built in the Spiritwood area after the North Dakota Legislature approved a $125 million loan earmarked for the project if it is constructed in the state, according to local state legislators.
NextEra Energy Resources is interested in building a fertilizer plant in the Spiritwood area.
Locator: 44877INV.
From the linked article:
The transformation of the U.S. power grid is underway, prompting Goldman Sachs to see several clear themes that represent investment opportunities in the utilities sector through clean technology, nuclear power, liquefied natural gas project additions, and transmission buildout.
These "decarbonization enablers" are set to drive strong capital investment in the utilities sector ... which estimates 2023-27 capex across its coverage will exceed the capital spent during the prior five-year period by ~$93B, or 27%, largely driving rate base growth and contributing to a 6% five-year EPS compound annual growth rate average across its coverage vs. the 10-year average of 4%.
Goldman thus initiated Buy ratings on NextEra Energy, Southern Co., American Electric Power, Xcel Energy and Sempra Energy.
Meanwhile, Sempra is an attractive LNG growth opportunity that will fund regulated utility investment, and likes its leverage to a growing Texas market through its ownership in the Oncor utility.
Goldman assigned Neutral ratings to Duke Energy, Dominion Energy and Public Service Enterprise Group, while Consolidated Edison and Exelon are rated Sell due to valuations and less exposure to renewables.
Locator: 44876TRUMP.
This on-going story is tracked here. Original post? May 4, 2023.
For those old enough to remember Watergate ... 6
Summoned to appear in court. I don't think judges take kindly to folks who don't appear when summoned. Multi-billionaire? A flight risk? [Later: showed up in court. Absolutely uneventful.]
From the linked article:
The New York Times, citing people familiar with matter, reported that the charges include “willfully retaining national defense secrets in violation of the Espionage Act, making false statements and an obstruction of justice conspiracy.”
Trump, who is seeking the 2024 Republican presidential nomination, is the only U.S. president, former or otherwise, ever to be criminally charged. A Trump political action committee immediately began fundraising off news about the latest indictment.
He was first indicted by a New York state grand jury in March on charges of falsifying business records in connection with a hush money payment to a porn star in 2016.
In a video statement Thursday, Trump called the new charges “election interference at the highest level.”
IIRC: Richard Nixon resigned before he could be indicted, or impeached.
Locator: 44875TEXAS.
First, this is a huge story, announced today -- GM to invest $500 million in existing assembly plant in Arlington, TX
Second, announced last September, 2022 -- Trane, furnace assembly, Tyler, TX; link here.
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Futures
Slightly red after a huge seven-day run.
Locator: 44874TSLA.
Later, 10:14 p.m. CT: link here.
Original Post
Huge story, from the viewpoint of an amateur investor:
Locator: 44873B.
Most exciting stories right now, from the viewpoint of an amateur investor:
I'll try to get to all of them before the end of the weekend, but it will be tough.
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.
*****************************
Back to the Bakken
Active rigs: 38.
WTI: $71.01.
Natural gas: $2.323.
Three new permits, #39961 - #39963, inclusive:
Two producing wells (DUCs) reported as completed:
The BR Curtis wells and Saddle Butte wells are tracked here but haven't been updated in a long, long time.
Locator: 44872POL.
All I needed to know:
Chief Justice John Roberts and Justice Brett Kavanaugh aligned with the court’s liberals in affirming a lower-court ruling that found a likely violation of the Voting Rights Act in an Alabama congressional map with one majority Black seat out of seven congressional districts in a state where more than one in four residents is Black.
The state now will have to draw a new map for next year’s elections.The vote:
The Supreme Court on Thursday issued a surprising 5-4 ruling in favor of Black voters in a congressional redistricting case from Alabama, with two conservative justices joining liberals in rejecting a Republican-led effort to weaken a landmark voting rights law.
Finally.
Coming, seven congressional districts:
Locator: 44871AAPL.
This is the third time today I've posted this screenshot. It's that important.
The Wine Page
Lunch:
All I need to know about wine
Nothing else matters, except perhaps price. If your house red is costing you more than $7.99, you're doing it all wrong. LOL.
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Tomorrow's Friday Night Grill
Costco: Australian lamb chops. Wow, I cannot believe the size of these cuts and the price.
Rosemary - thyme - shallot - garlic rub applied this morning; let sit overnight. Grill tomorrow.
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The Movie Page
William Powell and Ginger Rogers, "Star of Midnight."
Locator: 44870ECON.
Charlie Munger: we are "nearing" a mild recession. He was previously misquoted as saying "we are in a mild recession." May 29, 2023.
Locator: 44869B.
Locator: 44869SHTR.
Daily activity report dated June 7, 2023.Tucker's Petro-Hunt wells are tracked here.
The "parent well":457, BR, Guadalupe 11-23H, Charlson, t3/09; cum 841K 3/09,
Recent production:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 4-2023 | 30 | 3018 | 2707 | 1019 | 27239 | 27023 | 142 |
| BAKKEN | 3-2023 | 26 | 2535 | 2588 | 879 | 20335 | 19352 | 918 |
| BAKKEN | 2-2023 | 18 | 878 | 970 | 498 | 10175 | 9932 | 198 |
| BAKKEN | 1-2023 | 30 | 3740 | 3811 | 1363 | 34517 | 33836 | 607 |
Huge and lasting jump in production:
| BAKKEN | 7-2019 | 31 | 9802 | 9556 | 2530 | 30326 | 30058 | 191 |
| BAKKEN | 6-2019 | 30 | 13347 | 13680 | 2269 | 33120 | 33046 | 0 |
| BAKKEN | 5-2019 | 23 | 14244 | 14229 | 1350 | 24852 | 24066 | 729 |
| BAKKEN | 4-2019 | 30 | 22406 | 22430 | 1996 | 23490 | 22854 | 562 |
| BAKKEN | 3-2019 | 31 | 29673 | 29576 | 2600 | 25049 | 24972 | 0 |
| BAKKEN | 2-2019 | 28 | 28054 | 28231 | 2077 | 27395 | 27325 | 0 |
| BAKKEN | 1-2019 | 31 | 29921 | 30008 | 2390 | 29361 | 29284 | 0 |
| BAKKEN | 12-2018 | 30 | 29567 | 29553 | 2462 | 27767 | 27693 | 0 |
| BAKKEN | 11-2018 | 30 | 28924 | 28924 | 2715 | 26246 | 26172 | 0 |
| BAKKEN | 10-2018 | 31 | 26945 | 26520 | 2271 | 27609 | 27532 | 0 |
| BAKKEN | 9-2018 | 30 | 25088 | 25570 | 2155 | 26978 | 26904 | 0 |
| BAKKEN | 8-2018 | 31 | 28814 | 28578 | 2947 | 32269 | 32192 | 0 |
| BAKKEN | 7-2018 | 31 | 16221 | 15949 | 2552 | 17136 | 17059 | 0 |
| BAKKEN | 6-2018 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2018 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2018 | 30 | 797 | 1173 | 73 | 1025 | 951 | 0 |
| BAKKEN | 3-2018 | 31 | 1376 | 1157 | 112 | 1981 | 1904 | 0 |
| BAKKEN | 2-2018 | 28 | 1290 | 1186 | 123 | 1742 | 1672 | 0 |
| BAKKEN | 10-2009 | 31 | 4657 | 4443 | 279 | 6258 | 0 | 6258 |
| BAKKEN | 9-2009 | 28 | 4289 | 4597 | 256 | 6494 | 4948 | 1546 |
| BAKKEN | 8-2009 | 31 | 5468 | 5305 | 419 | 8661 | 7609 | 1052 |
| BAKKEN | 7-2009 | 31 | 6383 | 6446 | 579 | 8164 | 5829 | 2335 |
| BAKKEN | 6-2009 | 23 | 5908 | 6000 | 588 | 7737 | 5963 | 1774 |
| BAKKEN | 5-2009 | 31 | 7296 | 7028 | 568 | 8979 | 8247 | 732 |
| BAKKEN | 4-2009 | 30 | 8520 | 8716 | 871 | 9571 | 4969 | 4602 |
| BAKKEN | 3-2009 | 29 | 9594 | 9177 | 1774 | 8376 | 0 | 8376 |
Locator: 44868TSLA.
Locator: 44868NVDA.
What's driving NVDA? Link here.
NVDA:
Nvidia surges on a day the overall market is flat / slightly negative.
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TSLA
Story began to trend about a week ago.
TSLA continues to melt up.
On a day the market is flat / slightly negative.
In one month, TSLA has appreciated by 32%; has gained $55 / share. Most of that in the past week or so.
Locator: 44868B.
iPhone 15: link here.
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Apple Silicon, Part 2
Yesterday: my first blog on Apple Silicon, arguably the biggest chip company in the world.
Today, more, from The Verge, dated June 7, 2023. Jon Porter "heard" the same thing I heard during Tim Cook's WWDC keynote speech.
Although it seems like a surefire thing in retrospect, it’s worth taking a moment to reflect on how successful Apple’s switch to Apple Silicon has been. Prior to Apple’s big announcement, Arm-based processors had only really been successful in smartphones. A couple of manufacturers had attempted to make Windows laptops work on Arm (perhaps most notably with the Surface Pro X), but none had delivered on the promises of the architecture without significant compromises.
Apple has not just successfully transitioned its entry-level MacBooks to Arm, where the architecture’s battery life benefits were the biggest appeal, but it also upended our concept of Arm performance for both laptops and desktops. Apple not only ported its own operating system and apps but also convinced major third-party developers to do the same.
The iPhone manufacturer is notorious for its love of control. It controls how people can use its smartphones and which apps they can install. It controls how the repair ecosystem around them works. And with its transition to Apple Silicon, it has an unprecedented amount of control over how it makes its Macs. It doesn’t need to wait for Intel and AMD to release new chips to upgrade its computers or rebuild a relationship with Nvidia. Now, as it starts its next journey, Apple can march to the beat of its own drum.
Locator: 44867B.
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Today's Weekly Jobs Report
Big headline.
Little story.
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101 Days Of Summer
Day 12.
Beautiful biking weather. On a scale of 1 - 10, a twelve (12).*************************
Back to the Bakken
Active rig: 37.
WTI: $72.74. Green.
Natural gas: $2.340. Green.
Peter Zeihan newsletter.
Friday, June 9, 2023: 23 for the month; 131 for the quarter, 386 for the year
39417, conf, Bison Land & Minerals, West Dry Creek 1H,
39257, conf, Stephens Williston LLC DBA SEG Williston, Greenbrier 15591W-0211-5H,
33904, conf, Slawson, Mole 5-20TFH,
RBN Energy: E&P consolidation continues in the Permian and Eagle Ford.
The headwinds facing producers in the Permian, the Eagle Ford and other shale plays are trimming the valuations of oil and gas assets and making it easier for deep-pocketed acquirers and private-equity-backed sellers to reach deals. For proof, look no further than the ongoing frenzy of M&A activity in South and West Texas, where large and medium-size E&Ps alike continue to gobble up smaller producers with complementary assets. Their goals are one and the same: increase scale, improve efficiency, cut costs and build inventory in highly productive plays with easy access to Gulf Coast refineries, fractionation plants, and export docks for oil, LNG and NGLs. In today’s RBN blog, we discuss the most significant deals in the Lone Star State so far this spring and what they mean for the acquiring companies.
Sagging hydrocarbon prices, concerns that the best well sites have already been drilled, and prospects for a slowing economy this summer and fall have combined to bring down the valuation of many oil and gas assets in recent months, thereby closing the bid/ask spread and enabling a number of deals to be reached.
Just a few weeks ago we looked at Ovintiv’s $4.275 billion plan to purchase ”substantially all” of the leaseholds and related assets of EnCap Investments’ Black Swan Oil & Gas, PetroLegacy Energy, and Piedra Resources in the Permian’s Midland Basin. The deal, which is expected to close later this month, is a biggie for Ovintiv — it will nearly double the company’s oil and condensate output in West Texas, lower its per-barrel production costs, and add more than 1,000 well locations to its inventory.
