No Wells Coming Off Confidential List Today -- February 23, 20024

Locator: 46878B.

Updates

Later, 8:01 p.m. CT: link here. 

From the linked article:

Rivian Automotive Inc. emerged as a darling of investors — a brand with promise of bringing the "cool" factor to the once-red-hot market for electric vehicles. But the Irvine-based company hit the brakes Wednesday, announcing a 10% cut to its workforce and lower production expectations.

The news sent its stock plummeting. The 25% drop in stock price that it notched Thursday was its worst day in its history.

Original Post 

Personal investing today, bought:

• BRK-B
• TSM

Carvana today: classic short squeeze. Most "shorted" stock in the market; reported unexpected earnings; stock surges. Up an astounding 33% today. 

WBD, RIVN, LCID: wow, I feel sad for those investors who listen to the "wrong" analysts. 

• WBD is down 15% this past week, falling 13% today, down $1.24 today, trading at $8 and change.
• Rivian, Lucid shares plunge:
  

ARKK: that was probably my biggest mistake -- listening to Cathie Wood -- sometime last year (2023) if I recall correctly. Fortunately, came to my senses and got out within a week. Jim Cramer on Cathie Wood.

Germany: but, maybe we should feel even sorrier for the demise of Germany's heavy industry sector? Link here:

China: now banning selling stocks at the opening and the closing, along with making "quick profits." 

• Punishment to include longer prison sentences. 

BRK: surging this past month; nice balance on the tech - non-tech barbell of investing.

Yeah, Wall Street needs the Fed to lower rates:

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

WTI: $76.19.

Monday, February 26, 2024: 62 for the month; 121 for the quarter, 121 for the year
39616, conf, Whiting, DE YK 12-33-2TFH,
37486, conf, CLR, Gibb 3-24H,

Sunday, February 25, 2024: 60 for the month; 119 for the quarter, 119 for the year
38641, conf, Hess, GO-Knudson-156-97-2017H-3,
37485, conf, CLR, Gibb 2-24H1,

Saturday, February 24, 2024: 58 for the month; 117 for the quarter, 117 for the yea
39617, conf, Whiting, DE YK 12-33-2H,
39340, conf, Enerplus, Cushion 148-93-04A-09H-LL,
37343, conf, Whiting, Bigfoot LS 23-22 8H,

Friday, February 23, 2024: 55 for the month; 114 for the quarter, 114 for the year
None.

RBN Energy: additionality rules throw a monkey wrench into plans for hydrogen scale-up.

The federal government’s Hydrogen Production Tax Credit (PTC), also known as 45V, provides the highest incentives for hydrogen produced using clean sources of power generation, like wind and solar. That might seem like great news for current and potential hydrogen producers looking to take advantage of the credit, since the U.S. has added significant renewable generation capacity in the last several years, but the reality is much different. In today’s RBN blog, we’ll explain how “additionality” fits into the “three pillars” of clean hydrogen, how it would be calculated under the proposed guidance, and some ways the rules might be adjusted to give hydrogen producers and power generators a little more flexibility. 

The proposed rules around 45V were rolled out in late December 2023. Under 45V, credits are available based on the rate of lifecycle greenhouse gas (GHG) emissions during a clean hydrogen facility’s first 10 years of operation. As defined by the Inflation Reduction Act (IRA), clean hydrogen is produced in a way that results in a lifecycle GHG emissions rate of not more than 4 kilograms (kg) of carbon dioxide (CO₂) equivalent per kilogram of hydrogen (CO₂e/kg). As we described in Part 1 of this series, that new standard could severely limit how much of the tax credit is available to many of the potential low-carbon hydrogen production facilities. For example, a blue hydrogen project — one in which hydrogen is produced through the auto thermal reforming (ATR) or steam methane reforming (SMR) of natural gas, with the resulting emissions mitigated by carbon capture — can qualify for the credit if it has sufficiently high carbon-capture rates, but the proposed regulations likely limit it to the less lucrative bottom two tiers of the credit due to a “locked” upstream natural gas feedstock emissions factor. There are four tiers to the credit, maxing out for the top tier (GHG emissions rate of less than 0.45 CO₂e/kg) at $3/kg but falling to $1/kg or less for the other three tiers (between 0.45 and 4 CO₂e/kg).

With regard to other "stuff" on this post -- remember:

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.

Reminder: I am inappropriately exuberant about the US economy and the US market.