Busy, Busy Day -- But No Wells Coming Off Confidential List -- February 2, 2024

Locator: 46714B. 

Conundrum: we keep notching new highs in the equity markets and money on the sidelines (MMF) keeps increasing. Where is all that money coming from?

Conundrum: the Apple Vision Pro is too expensive at $3,500 which does not include all the add-ons. Folks are lined up around the block -- lines like we haven't seen since the introduction of the iPhone -- to be fitted for the new AVP -- and these are not impulse buyers or the "just browsing" crowd. They've already purchased their AVP -- now, simply getting ready to be fitted.

Conundrum: tensions keep rising in the Mideast; price of oil keeps falling. And the market is not forecasting a recession. When META -- with its huge debt, huge expenses -- introduces a dividend for the first time in its history, Mark Z isn't forecasting a recession. Testifying before Congress yesterday? Who cares. META just announced a dividend. META soars.

Conundrum; with EVs taking over the world, oil demand continues to increase.

Conundrum: 

Observation: "Fed Rate" talk on CNBC is "Dak Prescott/Jerry Jone / Dallas Cowboys" talk on First Take: excessive and irrelevant.

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

WTI: $72.43. Ouch.

Monday, February 5, 2024: 5 for the month; 64 for the quarter, 64 for the year
40046, conf, Resonance Exploration, Resonance Stratton 16-12H Inj
30594, conf, EOG, Liberty LR 29-2320H,
30593, conf, EOG, Liberty LR 29-2320H,

Sunday, February 4, 2024: 2 for the month; 61 for the quarter, 61 for the year
39154, conf, Hess, RS-F Armour-156-92-1224H-4, ,

Saturday, February 3, 2024: 1 for the month; 60 for the quarter, 60 for the year
None.

Friday, February 2, 2024: 1 for the month; 60 for the quarter, 60 for the year
None.

RBN Energy: Biden administration using billions to kick domestic battery production into high gear.

If the U.S. is to significantly grow its production of electric vehicles (EVs), it’s going to need a robust domestic supply chain that includes critical metals and minerals. The Biden administration has previously provided billions in funding made available through the Infrastructure Investment and Jobs Act (IIJA, also known as the Bipartisan Infrastructure Law) to help establish new clean-energy industries, an approach it is repeating with EV battery manufacturing and its goal of having EVs account for half of all new-car sales by 2030. In today’s RBN blog, we look at the $3.5 billion set aside to fund investments in the EV battery supply chain and increase domestic manufacturing.