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Friday, July 12, 2024

Three New Permits; Two Permits Renewed; One DUC Reported As Completed -- July 12, 2024

Locator: 48121B.

Breaking: Alec Baldwin court case dismissed with prejudice. The correct ruling.

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Back to the Bakken

WTI: $82.21.

Active rigs: 39.

Three new permits, #40919 - #40921, inclusive:

  • Operators: Hess, CLR, XTO
  • Fields: Beaver Lodge (Williams); Beaver Lodge (Williams); Hofflund (Williams)
  • Comments:
    • Hess has a permit for a BL-Blanchard well, NENW 27-155-96, 
      • to be sited 331 FNL and 2079 FWL;
    • CLR has a permit for a Langved well, SESE 35-156-95; 
      • to be sited 650 FSL and 1114 FEL;
    • XTO has a permit for an HBU Baptiste well, SWSe 11-154-95; 
      • to be sited 1315 FSL and 1720 FEL;

Two permits renewed:

  • MRO, #39103, Fast Dog USA, Lost Bridge, Dunn County
  • Neptune Operating, #40052, CPEUSC Holmes, Blue Bridge, Williams County

One producing well (a DUC) reported to be completed:

  • 39964, 375, Petroshale, Primus 1TFH, Antelope-Sanish, McKenzie County;

It's Getting Ugly -- July 12, 2024

Locator: 48120BIDEN.

It's getting nasty.

$240-million war chest for Joe Biden.

$90 million now frozen.

Link here

The First Hour -- CNBC -- Energy Stocks Now Outperforming Tech YTD -- July 12, 2024

Locator: 48118INV.

Cramer: is off this morning -- as in, "not in the studio."  Sara Eisen -- an excellent replacement -- fills in. 

That ATT hack? Blame it on SNOW. SNOW down almost 4% in pre-market trading; 

Snow down another $5 today (pre-market) after a $3-loss drop yesterday. When did that ATT hack occur? 2022. Much ado about nothing. At the open, SNOW drops another 4% at the open. 

Yesterday divergence: Russell 2000 vs S&P -- absolutely historical -- not surprising at all. 

I thought it very, very important that it happened It may be historical but it was absolutely not surprising at all. Tech investors taking their profits and -- smart, smart move -- and moving it somewhere else -- the Russell 2000 -- for a few months. Within two IRAs, I did the same thing -- actually buying energy which I said I would never do again.

Transitory? Link here.

Note: my editor just told me to post my disclaimer:

****************
Disclaimer Briefly 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 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.  

Pre-market: all indices looking good.

WTI: now up a full 1%; up 83 cents; trading at $83.45.

  • only E&Ps that interest me now: DVN, CHRD

Not on my bingo card: link here. Will this be reported by CNBC today? Don't hold your breath.

JPM: a positive quarter for JPM, but stock is quite flat at the moment.

WFC: drops 5.5% in pre-market. Looks like folks are moving money from WFC to JPM (talking about the stock, not the actual bank holdings). 

AAPL: from a couple of days ago, link here. AAPL did not fall enough yesterday for me to acquire more.

China Population -- An Update -- July 12, 2024

Locator: 48117CHINA.

Tag: demographics.

Story is tracked here. Graphic at that time, a couple of years ago:

Why China's economy is in trouble, and why it's only going to get worse. The WSJ


 

The Electoral College -- For The Archives -- The 2024 Election -- July 12, 2024

Locator: 48116POLITICS.

The "dump Biden" movement is now a train that has left the station. I

t's no longer about the president's fitness for office. That's a given. Now, it's all about that $240-million war chest Joe Biden controls. Even for the Obama family, that's real money.
Biggest concern for some: a white man from California -- Gavin Newsom -- comes into swoop the trophy off the mantel from a "sort-of" black woman -- KH.

Advisors' gaslighting: the President is doing just fine. Nothing to see here.

Now, back to the electoral college for the archives.

Link here

Some suggest it could be the most lopsided electoral college victory in quite some time.

TGIF -- July 12, 2024

Locator: 48116B.

Gaslighting: the word for the day.

 PPI: for the market, for JPow, not helpful.

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Back to the Bakken

WTI: up about 1%. Back to $83.45.

Sunday, July 14, 2024: 28 for the month; 28 for the quarter, 354 for the year
None.

Saturday, July 13, 2024: 28 for the month; 28 for the quarter, 354 for the year
None.

Friday, July 12, 2024: 28 for the month; 28 for the quarter, 354 for the year
40244, conf, Whiting, Sanish Bay 5292 22-7 9BX (Oasis naming scheme),
40230, conf, Neptune Operating, Gustafson 5-8 4H,

RBN Energy: EU methane regs to begin impacting US natural gas producers

Three phenomena — the European Union’s laser focus on reducing greenhouse gas (GHG) emissions, the EU’s now-significant reliance on LNG from the U.S., and the impending startup of new LNG export terminals along the Gulf Coast — are converging, with potentially significant implications for gas producers and LNG exporters alike. Starting next year, U.S. and other suppliers that ship LNG to EU member countries will need to begin complying with the EU’s methane emissions reporting requirements — full compliance is mandatory by 2027, and in 2030 and beyond the gas exported to the EU will be expected to meet a to-be-determined methane intensity (MI) target. As we discuss in today’s RBN blog, the EU methane regulations are still a work in progress, but they provide another reason why U.S. gas producers have been increasing their monitoring of methane emissions and their efforts to reduce them. 

We’ve been tracking the certified/differentiated gas movement for some time now, most thoroughly in a five-part series a few months ago. In Part 1, we discussed the outsized climate impact of methane emissions — a GHG with more than 80 times the atmospheric heat-trapping effect of carbon dioxide (CO2) over the short term (five to 20 years) — and the push by an increasing number of E&Ps to reduce their methane emissions and get credit from the market for those achievements. Part 2 focused on the push by gas producers to have their gas certified (i.e., scored or assessed) as a “low-emissions” hydrocarbon allowing for a differentiated product based on the percentage of methane that escapes into the atmosphere during the production process, with higher marks being given to gas with a lower MI. We also discussed two alternatives for gas producers seeking to certify or differentiate their gas (MiQ and Project Canary) and noted that as much as one-third of the natural gas being produced in the U.S. each day was already being certified/differentiated by one of them.