Three New Permits; Six Permits Renewed -- May 29, 2024

Locator: 47982B.

McDonald's: the company's problem now? Perception. The word is out. McDonald's is very expensive.

Even if McDonald's were to cut prices -- and the restaurant chain will have a month-long $5-meal campaign -- it will take a long time for customers to "accept" that McDonald's is still an affordable fast-food restaurant.

Often, so much is about perception. For me, now, when I need a quick snack at home, it's a peanut butter and jelly sandwich, probably costing all of 20 cents. I assume others are doing the same.

Link here. 

The $5-meal promotion may be McDonald's Mulvaney moment. We'll see.

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Back to the Bakken

API: reports significant draw of oil inventories. We will see if EIA confirms tomorrow;

• a draw of 6.6 million bbls for the week ending May 17, 2024;

WTI: $79.23.

Active rigs: 34.

Three new permits, #40790 - #40792, inclusive:

• Operator: Phoenix Operating
• Field: Skabo (Divide County)
• Comments:
• Phoenix Operating has permits for three Jacobson wells, NENW 19-160-98,
• to be sited 310 FNL, and 2182, 2272, and 2242 FWL.

Six permits renewed:

• CLR: Patent Gate oil field permits for Berlain (sic) (2), Olympia (2), and Charleston (2).