Minor Notes -- Waiting For Market Close -- Wow! What A Day! March 19, 2024

Locator: 46805B.

Texas: US Supreme declines to stop Texas from arresting illegal immigrants, but it's not a final decision (needs to be fact-checked). [Later: appellate court "reconvened," reversed earlier position, and we're back where we were -- Texas acting on its own is on hold.]

But interestingly, the US Supreme Court did not put a "stay" or a "hold" on Texas' law with regard to immigration. This takes us back to the US Civil War and fight between the federal government and states' rights. 

The book page: at one time I cared not for biographies. Now I love them but I only really care for biographies up until the individual becomes "famous." After that, little interest. What I enjoy reading is how an individual went from newborn to "famous." That's also true of "man," all of "man," not just a single individual.

Today, it's the "before" and "after" of WWII. Specifically, the Pentagon, and the transition from the end of WWII -- the Korean War -- the Philippines -- and then the Vietnam War. And how the Pentagon evolved taking espionage and counterespionage with it.

Source / the book this week: The Road Not Taken: Edward Lansdale and the American Tragedy in Vietnam, Max Boot, c. 2018. Notes here.

Market: S&P 500 hits yet another record intra-day high / close. At the close:

• in round numbers, next highs:
• Dow: 39,300 --> 39,500 --> 40,000
• S&P 500: 5,200 --> 5,300 --> 5,500
• NASDAQ: 16,450 --> 16,500 --> 17,000

Goldilocks: I find these numbers absolutely amazing. 

Always fully invested. I never hold cash; discussed before. Now that Schwab closes equity sales in 24 hours, investing has become even more efficient. In 2022 or thereabouts, I pivoted from energy to tech. Now, pivoting from tech to infrastructure (e.g., CAT) / energy (e.g., CHRD, NOG) / tech (e.g., AAPL, MSFT) -- a third each for new money. NOG is likely a short-term trade. No recommendations. See disclaimers. 

US Oil:

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Back to the Bakken

WTI: $83.20.

Active rigs: 41.

Six new permits, #440603 - #40608, inclusive:

• Operator: Enerplus
• Field: Little Knife (Dunn County)
• Comments:
• Enerplus has permits for six Danielle wells, SWSE 12-145-97, 
• to be sited 292 FSL and between 2212 FEL and 2392 FEL;

A well of interest:

• 18334, 1,343, Enerplus, Danielle 12-1H, Little Knife, t2/10; cum 243K 1/24; stimulated 2/18/20; 35,937 (no typo) bbls; proppant, 1,633,364 lbs (no typo); cased hole.
  

Two permits renewed:

• 36271, Hess, AN-Double Bar V, Antelope, McKenzie; and,
• 33056, Oasis, MHA, Heart Butte, Dunn;

Seven permits canceled:

• Crescent Point Energy: CPEUSC Riley Anne (all six); Williams County;

Three producing wells (DUCs) reported as completed:

• 36575, 1,023, XTO, Tong 34X-9D, 
• some earlier "AB" issues; apparently resolved; a 20' target zone was chosen within the middle member, with target beginning 20' below the base off the upper Bakken shale and approximately 20' to 28' above the top of the lower Bakken shale -- thus a seam of about 40' to 48.'.
  
• 36576, n/d, XTO, Tong 34X-9G,
• 36577, n/d, XTO, Tong 34X-9C,