CVX - Hess Deal Dead? February 26, 2024

Locator: 46917B.

DFW: record temp today, 94°.  Normal high is 63° for February 26. Previous record high 90°. Record high forecast again for tomorrow.

Medical school, link here. I wonder if folks see the most interesting "thing" about this announcement:

Let's do the math.     

• assume tuition = $100,000 / year
• 400 students across all four classes: $100,000 / yr / student x 400 students = $40 million / year
• $1 billion x 0.04 = $40 million / year 
  

But that's not the most interesting data point. There's yet another interesting data point. Remember, a one-time donation of $1 billion will cover "free tuition in perpetuity for all medical students" at this medical school.

And if folks don't see the most interesting data point, it speaks volumes about "money knowledge" of Americans.

CVX - Hess: the deal is not dead and there's much, much more to be sorted out and potentially re-negotiated, but the leaves in my St Patrick tea cup suggest this deal is dead. This will be a huge story tomorrow with stories everywhere and links not necessary. For some investors, this is not necessarily a bad-news story. One word: furball.

Shutdown: I thought we were past this but apparently not. "Biden calls leaders to White House as shutdown looms." -- Barron's. Deadline: Friday, March 1, 2024. To paraphrase Ronald Reagan, "here we go again."

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Back to the Bakken

WTI: $77.62.

Active rigs: 38.

Two new permits, #40543 and #40544:

• Operator: EOG
• Field: Parshall (Mountrail)
• Comments:
• EOG has permits for two Wayzetta wells, SENE 13-153-90, 
• to be sited 2360 FNL and 475 FEL; and, at 2360 FNL and 435 FEL.

The Wayzetta wells are tracked here, but have not been updated in a long time. 

Existing, producing well in that section:

• 17083, 956, EOG, Waayzetta 1-13H, Parshall, t9/08; cum 485K 12/23;

One of the two new permits, the other one will be on the same pad and same drilling unit: