80th Anniversary Of D-Day -- June 6, 2024

Locator: 48071B.

Wow, after yesterday, are there any big stories left? Yup --

• I've never seen so much time wasted on CNBC as the constant focus on Elon Musk's Tesla pay package. 
• JUUL: couldn't handle the loss of "Black" voters: Biden administration allows JUUL back on the market.
• Memphis, Musk and more; LOL. Alliteration. From The WSJ. Link here.
• pending approval by local authorities. LOL. As if it won't be approved.
• xAI was launched last summer; buying all the Nvidia chips he can
• TSM and Singapore;
• the big story here? Stories coming out of "ABC" -- anywhere but China
• every time I see a headline with TSM in it, I think of BRK / Buffet
• EU cuts rates; Canada's central bank announced rate cuts yesterday
  
• US Fed quiet
• counterintuitive: one of the best things that ever happened to Nvidia -- when the US restricted / banned export of high-end Nvidia chips to China
• Pelosi: making a killing on Nvidia; some are upset about that; not me. Link here.
• from July 15, 2022:
• today, we learn that Nancy Pelosi revealed that of yesterday she had a new multi-million dollar position in Nvidia. This may or may not be true. Link here.
• so folks have had two years to buy into Nvidia; oh, give me a break on the Pelosi story; 
• she was ahead of Cramer on this one. I'll take my info anywhere I can find it.
• two big-name Republicans vote against supporting women's rights: Cotton and Scott.
• both stories need to be fact-checked; this certainly can't be true

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Back to the Bakken

WTI: $74.88. 

Friday, June 7, 2024: 57 for the month; 121 for the quarter, 320 for the year

• 39388, conf, BR, Watchman Peak 1-18-11 MBH,
• 38056, conf, Oasis, Wood 5498 12-25 3B,

Thursday, June 6, 2024: 55 for the month; 119 for the quarter, 318 for the year 

• 40279, conf, CLR, Thorvald 5-6H,

RBN Energy: relatively stable 1Q24 E&P earnings shift analysis to company performance.

A macro view of U.S. exploration and production (E&P) company performance over the last quarter century reveals repetitive boom-and-bust cycles driven by periodic extremes in crude oil pricing, including price crashes in 2008, 2014 and 2020. That history contrasts with the remarkable stability in West Texas Intermediate (WTI) realizations since mid-2021 as the industry got its footing post-pandemic. Assisted by a new commitment to financial discipline, producers have generated relatively stable, historically solid overall quarterly earnings and cash flows. But the devil’s in the details, and in today’s RBN blog we delve into peer group and individual company performance as well as overall industry trends for Q1 2024.