Five New Permits; Three DUCs Reported As Completed -- July 19, 2024

Locator: 48194B.

WTI: $80.13.

Active rigs: 38.

Five new permits, #40941 - #40945, inclusive:

• Operators: Oasis (2), Murex (2), Five States Operating;
• Fields; Arnegard (McKenzie); Alexander (McKenzie); Rocky Hill (Stark)
• Comments:
  
• Five States Operating has a permit for an RH well, NENW 22-138-99, Rocky Hill, 
• to be sited 250 FNL and 1370 FWL;
• Murex has permits for an LA-Lily Anne well and an LA-Alexander well, NWNE 25-151-101, Alexander, 
• to be sited 295 FNL and 2090 FEL, and at 295 FNL and 2060 FEL;
• Oasis has permits for two Painted Rocks wells, SWSW 20-150-100; 
• to be sited 350 FSL and 1243 FWL and at 351 FSL and 1210 FWL

Three producing wells (DUCs) reported as completed:

• 40135, 2,271, CLR, Veigel 2-9H, Dunn County,
• 40139, 2,597, CLR, Veigel 6-9H, Dunn County,
• 40185, 1,607, CLR, Sloan 6-8H, Dunn County,

Everything, Everywhere Happening All At Once -- I'm Going To Call It A Day -- Will Be Back Later -- July 19, 2024

Locator: 48193POLITICS.

Breaking: sounding more and more like an elderly, senile grandpa. Incredibly good news for the Trump supporters:

Chart of the day:

But the chart of the day for all the folks complaining about the plight of Americans. 

Link here.

Yes, I know.

The EV Narrative Continues -- Is The EV Movement Over? Only Cars Being Reviewed In Mainstream Media Are ICE Vehicles -- July 19, 2024

Locator: 48192EVS.

EV: the narrative continues. Link here.

These are atrocious numbers: really, really bad for California but in the big scheme of things, not that much better across the US. 

The California New Car Dealers Association on Thursday released its second-quarter report. In the state, Tesla sold about 52,000 vehicles, down 24% year over year. For comparison, Tesla’s total U.S. sales fell about 6% in the second quarter, and global sales fell about 5%.

Overall, battery-electric vehicle, or BEV, sales totaled about 101,000 units in the state, roughly flat year over year. Tesla’s second-quarter market share came in at about 51%, down almost 16 percentage points California year over year.

We should be well up on the S-shaped curve by now. To have a 5% drop in sales at this point in the EV journey is atrocious. 

Mainstream media auto reviewers seem to have quit reviewing EVs and are back to reviewing ICE SUVs and European sports cars.

Does anyone care. Only two comments at the linked article. 

***********************
Get Ready For More Expensive,
Less Reliable Electricity

Link here.

It was notable that the writer did not mention the real reason for this: the push for renewable energy -- wind and solar.
 

But Texas is ahead of the curve -- see RBN Energy today. Whoo-hoo!

RBN Energy: Texas Energy Fund seeks to speed development of new gas-fired power plants. Link here. If the link breaks (which it will in a couple of weeks), link to the blog here.

***********************************
Wind Turbine Now
At The Bottom Of The Ocean

Martha's Vineyard. Nantucket. Vineyard Wind.

Link here. How big was that single blade? The size of a football field.

Tiger And Joe Biden Have Something In Common: Neither Know How To Retire Gracefully -- July 19, 2024

Locator: 48191RETIRING.

Tiger to miss the cut at The Open in Scotland. "A disastrous British Open at 14-over."

Link here. 

Meanwhile, Biden trails in the state currently most likely to decide the election -- Pennsylvania. Link here.

Biden family and Biden spokesmen all tell us this story is false. Link here. The story, from NBC News.

Pet Peeve -- All Morning CNBC Commentators -- Crowdstrike CEO -- Says There Is No Quick Fix For The Problem -- In Fact There Is -- July 19, 2024

Locator: 48190AAPL

CNBC anchor early this morning solved his problem: set aside his "Microsoft" computer with that blue screen of death and got himself an Apple laptop. 

Amazon can get most folks an Apple laptop in a couple of hours. 

How bad was the outage (which is still ongoing, by the way, late Friday morning)? I think much worse that folks realize. I put in an order at Schwab at the open and it has not yet been filled (12:18 p.m. EDT). It was a "market trade, day only." My hunch: the trade has been "lost."

Link here.

Biden: This Is Where We Stand Now -- X -- July 19, 2024

Locator: 48189BIDEN.

Link here.

"Everybody" agrees Biden will bow out. It's hard to accept the opinion this won't happen this weekend. 

One would think Biden would want to make the announcement himself, from the Oval Office. Can he make that announcement from the Oval Office while self-isolating due to positive Covid test? Having said that, one’s dealing with Joe, Jill, Hunter, and a few inner circle supporters who have much to lose. It’s very Joe won’t go quietly into the night.

Where's Kamala Harris in all this? I've never seen a VP so quiet. No interviews scheduled with any of the major networks? 

This Is Not Rocket Science -- It's All About Natural Gas -- Not Wind, Not Solar, Not Nuclear -- July 19, 2024

Locator: 48188B.

Tag: ERCOT

WTI: $82.47.

Sunday, July 21, 2024: 36 for the month; 36 for the quarter, 362 for the year
39966, conf, Petroshale, Primus 1MBH,

Saturday, July 20, 2024: 35 for the month; 35 for the quarter, 361 for the year
40256, conf, CLR, Chase 3-18H,

Friday, July 19, 2024: 34 for the month; 34 for the quarter, 360 for the year
40257, conf, CLR, Chase 4-18H,

RBN Energy: Texas Energy Fund seeks to speed development of new gas-fired power plants. Link here.

Power generation is one of the leading consumers of natural gas in Texas — every month last year, generators in the state used between 4 Bcf/d and 8 Bcf/d, on average, with the volumes peaking (as you would expect) in August, when air conditioning and a friend with a pool are must-haves. But as we’ve seen, the Texas power grid is often stressed to its limit, and the state has been taking steps to significantly increase the gas-fired generating capacity available for peak-demand periods in both the hottest and coldest months. In today’s RBN blog, we discuss one of the state’s boldest steps yet: the creation of a multibillion-dollar fund to support the development of thousands of megawatts of new gas-fired generation. 

Electric power has been on a lot of Texans’ minds lately, especially if you live and work in the parts of the state hit hard by Hurricane Beryl earlier this month. We can’t explain why it took so long for many of you — and quite a few RBN staffers — to be reconnected to the grid. But today we can speak to the broader issue of what you might call “generation-capacity sufficiency” or, to put it in layman’s terms, will there be enough power plants to keep the lights on?

Glad I Use Apple Operating Systems — Just Saying — July 19, 2024

Locator: 48187AAPL.

CNBC Microsoft-user has now switched to a Mac laptop (7:06 a.m CDT, July 19, 2024). His counterparts still unable to access their computers. Wow. 

Personal investing: Sophia will be adding new money today to buy more AAPL. Scratch that. Sophia will be adding more AVGO today. Done. Bought.

Netflix. Link here.

• simply amazing, never seen anything like it before; some hyperbole, perhaps, but not much. Link here.
• added 8 million new subscribers vs 4 million forecast.

The blog.

• Bakken.

• Apple.

• Morgan Stanley's #1 pick: AAPL. Previously reported.
• Goldman Sacks, yesterday: raised its price target on AAPL to $265 up from $238 while maintaining its BUY rating. Link here.
  

• Netflix.

Peggy Noonan.  Peggy Noonan’s latest. 

This was a party that at least for a week could turn the page on its obsessions. Election denialism was out, a post-DEI future in.

Politics: if Trump/Vance do win -- think about this -- no learning curve. The team has had four years to plan for this.

X: Where / how is national news being sourced today? X.

Tech with worldwide outage.

• AAPL: green pre-market. 
• MSFT: not so much. 
• CRWD: oh-oh.

Market: huge buying opportunities today.

Most astonishing comment so far this morning: CNBC's tech reporter had no answer to the question -- how could this have been prevented? 

Are you kidding me? Even I can tell you how this problem could have been predicted. USAA has figured it out; don't know if they've completely addressed the problem but they have the right idea. USAA is run by retired US military general officers.

****************

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.