TGIF At The Close -- WTI Jumps To $71.29 -- December 13, 2024

Locator: 48392B.

AVGO: joins the $1-trillion club.

Morgan Stanley: AAPL is their #1 pick for calendar year 2025. Link here. AAPL eked out a slight gain today. 

BRK-B: has declined in value every day since November 29, 2024 with one or two exceptions. The Dow has been in steep decline since December 4, 2024, one of the longest such stretches in quite some time. 

China: officially switching from oil to coal. Link here. COP29 -- the day the music died. 

Wind / solar too expensive, not dispatchable; can't come close to meeting needs for EVs; nuclear, too far into the future to make a difference. Trade imbalance forces China to limit oil imports. The only option left to power all those EVs? Coal.

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Disclaimer
Brief Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  
• If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
  
• Longer version here. 

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Back to the Bakken

WTI: $71.29. Up almost 2%. Why? Mideast uncertainty according to The NYT. XOM and CVX shares fell today.

Active rigs: 37.

Three new permits, #41425 - #41427, inclusive:

• Operator: EOG
• Field: Phaelens Butte (McKenzie)
• Comments:
• EOG has permits for three Mandaree wells, SWNW 20-149-94, 
• to be sited 333 FWL and the following distances FNL: 2455; 2495; and, 2535.

One producing well (a DUC) reported as completed:

• 40611, 1,421, MRO, Severson 31-14H, Bailey, t--; cum --;

The MRO Severson well is on an eleven-well pad. The parent well:

• 17875, a single well to the west of the mega-pad, 608, MRO, Lily 24-11H, Bailey, off line; t7/09; cum 234K 5/24;

The wells on the 11-well pad, are all one drl/A status with less than 15 days of production reported:

• 40609, Selmer,
• 40610, Sneve, TFH,
• 40611, Severson,
• 40612, Betts,
• 40613, Foss, TFH,
• 40564, Whitaker,
• 40614, Elliot, TFH,
• 40615, Zwenke,
• 40616, Rocky, TFH,
• 40617, Purrier,
• 40618, Eubanks,