Two Wells Coming Off Confidential List Today, Including "Almost" A Wildcat Madison Well Southwest Of Dickinson -- May 2, 2024

Locator: 47029B.

Personal investing:

• adding T to my position. Opportunity buy, not by rule.
• adding DVN to my position. Opportunity buy, not by rule.

No recommendation. See disclaimers.

Today, timing will be everything: AAPL. It may not be a pretty picture for some.

COP: dividend declared; same as previous quarter -- 58 cents plus 20 cents. Record date, May 13, 2024.

Chart of the day, Bloomberg: all that Canadian LNG? California and China will both fight for it.

COP: EPS $2.03 in line.

Barron's take on EVs:

• why hybrids are trouncing EVs? Price. Link here. Nah. People just don't like EVs.
• gullible. Tesla investors think $25,000 EVs are possible. Link here. That doesn't even cover cost of batteries + software. No profit margins. At $25,000, manufacturer will be losing money on every EV sold. 

Just say "no" to Apple: Mercedes will do just fine; GM won't --

• GM says no to Apple's CarPlay;
• also, Mercedes --

XOM-PXD: on track for announcement within the week. Link here. FTC approves major Exxon deal. PXD ticker: either investors are not paying attention or PXD price has been baked in for months. Also, here. A $60-billion payday for Scott Sheffield.

Devon: reminder -- Devon had an incredible 1Q24 -- almost one billion dollars in free cash flow in one quarter. 

Shell: another company reporting an incredible 1Q24. Link here. Shell reported a free cash flow for the 1Q24 of almost $10 billion. One quarter: $10 billion! Yikes!

Jargon: gearing, geared. To be one's own banker. Or not. Important concept during periods of high interest rates.

Liar, liar, pants on fire: Japan stands alone in the G7 when it comes to shutting down its coal-fired power plants. Link here. On another note: with so little economic growth over the past twenty years, what accounts for so much energy requirements?

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

WTI: $79.54.

Friday, May 3, 2024: 4 for the month; 68 for the quarter, 267 for the year
None.

Thursday, May 2, 2024: 4 for the month; 68 for the quarter, 267 for the year
40177, conf, Five States Operating, RH 1-16H,
39582, conf, Hess, CA-Anderson Smith-LW-155-96-2634H-1, 

• 39582:

Date	Oil Runs	MCF Sold
2-2024	23082	76962
1-2024	30374	61332
12-2023	26427	47792
11-2023	50793	86252

• 16083, IA/152, Hess, Anderson Smith 1-26H, t2/07; cum 261K 7/23; struggling.
  

RBN Energy: what might be the timing and scope of the ramp-up of gas into LNG Canada? Incredibly good summary of US Gulf coast LNG export terminals.

LNG Canada, under construction for nearly six years on Canada’s West Coast, is rapidly approaching the time when first gas will be entering the plant for testing and calibration of equipment, marking an important transformation for the Western Canadian natural gas market. This will kick off what will likely be about a yearlong testing process before officially entering commercial service in mid-2025. In today’s RBN blog, we consider daily gas flow data from the startup of similar-sized LNG plants on the U.S. Gulf Coast and develop a conjectural timeline for LNG Canada to help assess how much gas will flow to the site — and how soon — and when LNG exports might begin.