Wednesday, July 5, 2023

We'll Come Back To This NLT June, 2024 -- July 5, 2023

Locator: 45902ECON. 

Archived this date.

Exhibit A

Link here

Exhibit B

WTI, LNG, NG:


For Investors Only -- DVN, EOG, COP, PXD -- July 5, 2023

Locator: 45901INV. 

Usual disclaimer applies.

This is not an investment site.

Two links:

  • Three energy stocks that have big investors running for the exit, June 28, 2023, InvestorPlace.
    • DVN, CVX, COP
  • Three oil stocks to buy ahead of a seemingly inevitable rise in oil prices, June 23, 2023, Motley Fool.
    • DVN, EOG, PXD

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.

Olivia Soloed Today -- July 5 ,2023 -- Her Birthday Is This Month; Her Maternal Grandfather's Birthday Is Today -- Hispanic -- Is Today

Locator: 45900ARCH. 

For the family archives.

Olivia, her plane, and her CAU instructor.


Our high school junior / senior (Olivia) granddaughter soloed today -- under the auspices of the United States Air Force hosted by Edwards AFB instructed at the California Aeronautical University.

She soloed at her "first opportunity." Soloed after less than ten full days flying, probably fifteen hours flying time, though I understand 20 hours are required, so perhaps Olivia got those 20 hours in ten days.

Of her class of about 30 students, she was among the first to solo. Some will not advance to solo at all by the end of three weeks of flight school. But she soloed at "first opportunity."  

Aircraft:

  • cruise speed: around 130 mph
  • cruising altitude, max: 13,000 to 15,000 feet
Wiki:

The Cessna 172 Skyhawk is an American four-seat, single-engine, high wing, fixed-wing aircraft made by the Cessna Aircraft Company.
First flown in 1955, more 172s have been built than any other aircraft. 
It was developed from the 1948 Cessna 170 but with tricycle landing gear rather than conventional landing gear. The Skyhawk name was originally used for a trim package, but was later applied to all standard-production 172 aircraft, while some upgraded versions were marketed as the Cutlass.

Measured by its longevity and popularity, the Cessna 172 is the most successful aircraft in history. Cessna delivered the first production model in 1956, and as of 2015, the company and its partners had built more than 44,000 units.
The aircraft remains in production today.

Will post more information as I find it.

Soloed out of Schafter Airport, established to train WWII pilots.

Fourteen miles from Bakersfield, CA. 

The Bakersfield Sound:

From wiki:

Schafter Airport Shafter Airport (IATA: MIT, ICAO: KMIT, FAA LID: MIT), also known as Minter Field and formerly known as Air Corps Basic Flying School, is a public use airport located four nautical miles (4.6 mi) east of the central business district of Shafter and 14 miles northwest of Bakersfield, a city in Kern County, California, United States.

Originally a World War II primary training facility for pilots, it is currently a public airport owned by the Minter Field Airport District. 

Lerdo Field, as the airport was initially known during World War II, was first opened in June 1941 when the United States Army Air Corps (USAAC) dispatched a small garrison of airmen to open an airfield at Shafter.

The name was derived from close proximity to the highway of the same name. The airfield commander utilized Bakersfield College as his headquarters, while airmen were quartered in temporary facilities from Bakersfield to Wasco while barracks and other structures were being built. As construction proceeded through the rest of the year, the Minter Sub-Depot was established as a branch of the Sacramento Air Depot.

Oasis Cases From The July NDIC Hearing Dockets -- July 5, 2023

Locator: 45899B.

From the July, 2023, hearing dockets:

  • 30206, Oasis, Camp and/or Indian Hill-Bakken, amend, establish two overlapping laydown 1920-acre units, sections 3/4/5, and sections 8/9/10-152-101, five wells on each, McKenzie County;
  • 30207, Oasis, Elk-Bakken, amend, establish two overlapping laydown 1600-acre units (see source); four wells on each, McKenzie County
  • 30208, Oasis, Elk and/or Indian Hill-Bakken, amend, establish two overlapping standup 1920-acre units (see source); three wells on each, Williams, McKenzie


 Map:


Wells of interest

  • 20485, 1,719, Oasis, Barnes Federal 2-2H, Elk, t7/10; cum 354K 5/23;
  • 20118, 934, XTO, Dedrick 24X-32, Indian Hill, t7/11; cum 274K 2/23;
  • 30758, 396/IA, XTO, Roen 24X-23A, Elk, t1/16; cum 141K 2/23;
  • 19641, 526, XTO, Lindvig 14-10NEH, Camp, t5/11; cum 161K 5/23;
  • 20045, 480, XTO, Christianson 24-9NEH, Camp, t4/11; cum 297K 5/23;
  • 18957, 1,719, Oasis, Lee 13-8H, Camp, t9/10; cum 299K 5/23;

WTI Breaks Through $72 Ceiling; Grayson Mill With Four New Permits In Camp Oil Field -- July 5, 2023

Locator: 45898B. 

WTI: $72.11. 

Active rigs: 36.

Four new permits, #40016 - #40019, inclusive:

  • Operator: Grayson Mill
  • Field: Camp (McKenzie)
  • Comments:
    • Grayson Mill has permits for two Dale wells; one Greenstein well; and, one Figaro well; the first three NWNE 30-152-101; and the fourth, the Figaro, SWSE 32; 
      • the first three to be sited between 360 FNL and 435 FNL and at 2113 FEL, 2114 FEL, aand 2114 FEL, respectively. Figaro will be sited 350 FSL and 2540 FEL.

One permit renewed:

  • 33765, Liberty Resources, Herseth W, Gros Ventre, Burke County;

Two producing wells (DUCs) reported as completed:

  • 32450, 227, Petro-Hunt, Gracious god 15B-20HS, Divide County;
  • 38930, 260, Slawson, Lunker Federal 4-33-4TFH, Mountrail County;


Putin's War -- Making American Investors Rich -- July 5, 2023

Locator: 45897UKRAINE.  

Link here

Folks who didn't see this coming weren't paying attention.

Helps ensure that soft landing for America's landing being orchestrated by JPow and the Fed.

Rystad Is Reading The Blog -- Rystad Gets It -- Rig Counts Don't Matter -- July 5, 2023

Locator: 45896B.  

Yesterday, from the blog:

Today, from Rystad, over at oilprice:

SCOTUS: New York Magazine -- July 5, 2023

Locator: 45895SCOTUS.  

An enjoyable read. No comment. For the archives.



For Investors: WTI, Up; Drilling Costs, Down -- Are Happy Days Here Again? July 5, 2023

Locator: 45894WTI.  

Not yet. Despite WTI surging through $70 and drilling costs down in the US, and despite continues OPEC cuts; and, despite huge increases in jet fuel demand, oil companies are trading significantly lower today.

As a reminder, in 2022, Devon was the world's fastest growing oil company.

Ticker DVN today: down 1% today at $48.38; pays 9.32%.

Chinese LNG Shopping Spree -- July 5, 2023

Locator: 45894LNG.  

Link here.

US LNG --> China -- July 5, 2023

Locator: 45893LNG.  

Link here.

Reaching A Tipping Point? Tesla's Pickup Could Roll Out Any Day Now -- July 5, 2023

Locator: 45892EVS.  

EVs: link here. Scorecard

Link here. Rivian:

  • sales exceed forecast;
  • Amazon-Rivian vans start rolling out in Europe


***************************
Daimler Freightliner

The eM2:

Two Wells Coming Off Confidential List Today -- WTI Breaks $71 -- July 5, 2023

Locator: 45891B.  

Jets:

EVs: link here. Scorecard

Link here. Rivian:

  • sales exceed forecast;
  • Amazon-Rivian vans start rolling out in Europe

**************************
Trucks

Link here.

***************************
Back to the Bakken

WTI: $71.59.

Thursday, July 6, 2023: 51 for the month; 159 for the quarter, 414 for the year
36567, conf, WPX, Skunk Creek 13-18-17-16HU,

Wednesday, July 5, 2023: 50 for the month; 158 for the quarter, 413 for the year
39439, conf, Kraken, Orbit 24-13-12-2H,
36568, conf, WPX, Skunk Creek 13-18-16H3A,

RBN Energy: Corpus Christi Channel dredging is poised to boost oil export economics

A long-planned ship-channel deepening and widening project in Corpus Christi Bay is in its last innings and is about to start having a real impact. Later this summer, a 7-foot-deeper channel at Ingleside will enable terminals there to load additional barrels into VLCCs, assuming they’ve dredged their berths to match the deeper channel. Deepening the channel to 54 feet (from the old 47 feet) also will enable terminals that have deepened their berths to fully load 1-MMbbl Suezmaxes, up from the 800-850 Mbbl that can be loaded now. Crude oil export economics in South Texas will get another boost in late 2024 when the fourth and final portion of the $680 million dredging project is completed. In today’s RBN blog, we discuss the dredging project, its steady progress, and its impact on the “battle for barrels” among Corpus, the Houston area and a quartet of proposed offshore terminals.

MAGA: July 5, 2023

Locator: 45890ECON. 

Link here.

Another graph that may not make it on Breitbart, ZeroHedge, The Drudge Report, Fox Business News:

I have too go back and look at that article. Can't recall if the article mentioned autos or housing.

See also the "rolling recovery."

Russia Foreign Exchange Reserves -- July 5, 2023

Locator: 45889RUSSIA.

Link here.

The jump from the summer of 2022 to early 2023 was due to "internal" money shifts, not due to "oil money."

This chart is updated for May, 2023, data. I believe the June, 2023, number will be worse.