Sunday, August 4, 2024

Book For The Week -- Jackie: Public, Private, Secret, J. Randy Taraborrelli, c. 2023

Locator: 48328BOOK.

Jackie: Public, Private, Secret, J. Randy Taraborrelli, c. 2023.

Foreword: How Remarkable
February 22, 1994

Begins: John Warnecke, 1040 Fifth Avenue, NYC, to visit his close friend and former lover, Jacqueline Kennedy Onassis.

Book 1: Becoming Jackie

"Nobody Knows The Real Jackie," November 22, 1963

It begins: "Every time we got of the plane that day, three times, they gave me the yellow roses of Texas. But in Dallas, they gave me red roses. I thought, how funny, red roses. The seat was full of blood and red roses."

"That Book", One Month Earlier, October, 1963

The first biography. A trusted family friend, Mary Van Rensselaer Thayer -- known as Molly -- who was a journalist.

The First Fiancé: John Husted

Begins: Janet and Hugh Auchincloss met John Husted in the spring of 1951 at a party in New York. 

What If  ... ?

1952: Jackie, her sister Lee (18), and her stepbrother, Yusha (24), half-sister, Janet (6), and half-brother, Jamie (5).

Jackie Finds Her Purpose: White House, 1961

January, 1961: the nation's new First Lady. Private quarters of the White House. Refurbishing begins.

Notes to be continued elsewhere.

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The Ledecky Of Golf -- Scottie Scheffler -- August 4, 2042

Locator: 48327GOLF.

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Chord Energy Update -- August 4, 2024

Locator: 48326B.

Earnings call: after market close on Wednesday, August 7, 2024; conference call the next morning, Thursday, August 8, 2024.

Having just updated this week's data with regard to the Bakken, it's my feeling that Chord Energy is the most exciting operator in the Bakken right now.

NOG, of course, is the most exciting non-operator in the Bakken.

Those comments have nothing to do with investing, simply observations about operations. 

Chord Energy is now tracked here. 

That page has not been updated in awhile.

Chord closed on Enerplus acquisition in May, 2024.



 


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Initial Production Data For This Next Week -- August 4, 2024

Locator: 48325B.

Locator: 48324NEWWELLS.

The wells:

  • 40467, conf, Kraken, Milloy 10-3-34 2H, Hebron, npd,
  • 40386, conf, WPX, Missouri River 25-26HIL, Reunion Bay, npd,
  • 40262, conf, Empire North Dakota, Whooping Crane 29-15 1H, Starbuck,
DateOil RunsMCF Sold
6-202413310
5-202422650
  • 39253, conf, Hess, SC-4WX-153-98-3130H-5, Banks,
DateOil RunsMCF Sold
6-20241715133441
5-20242703160272
4-20242845358680
3-20243795680489
2-20243009749334
  • 40468, conf, Kraken Operating, Milloy LE 10-3-34 11H, Hebron, npd,
  • 39799, conf, Enerplus, Diamond 148-95-03A-10H, Eagle Nest,
DateOil RunsMCF Sold
6-20243492050234
5-20243570746692
4-20243188441545
3-202450
2-20241372417700
  • 39796, conf, Enerplus, Ruby148-95-03B-10H, Eagle Nest,
DateOil RunsMCF Sold
6-20243687457464
5-20244916468911
4-20244788265149
3-20246972488807
2-20242812535144
  • 24361, conf, Grayson Mill, Knight 35-26 3TFH, Banks, npd,
    39530    , conf, Petro-Hunt, Burian 144-98-15B-22-1H, Little Knife, npd,
  • 40375, conf, Iron Oil Operating, Stocke 6-4-9H, Bully, npd,
  • 39603, conf, Hess, BL-Iverson B-155-95-0807H-8, Beaver Lodge,
DateOil RunsMCF Sold
6-20241393128033
5-20241570722783
4-20241647622540
3-20241608721301
2-20242110715697
  • 39252, conf, Hess, SC-4WC-153-98-3130H-4, Banks,
DateOil RunsMCF Sold
6-20241509941957
5-20242484857139
4-20242562951561
3-20243103258490
2-20243758031790
  • 40236, conf, Iron Oil Operating, Stocke 5-4-9H, Bully, npd,
  • 39602, conf, Hess, BL-iverson B-155-95-0807H-7, Beaver Lodge,
DateOil RunsMCF Sold
6-20241338429664
5-20241786028600
4-20241425718709
3-20241564722970
2-20242358030131

  • 40207, conf, Phoenix Operating, Jean Ferrari 26-35-2 5H-LL, Smoky Butte,
DateOil RunsMCF Sold
6-20241890110527
5-20241823613222
4-2024190179781
3-2024138358274
2-202494062383
  • 40353, conf, Iron Oil Operating, Stocke 4-4-9H, Bully, npd,
  • 40451, conf, Neptune Operating, Frederick LE 3-10 11H, Antelope Creek, 
DateOil RunsMCF Sold
6-2024262290
5-20249961850
  • 39512, conf, Liberty Resources, Haley # 158-93-29-32-2MBH, East Tioga,
DateOil RunsMCF Sold
6-20241014111447
5-20241539020422
4-20241686120259
3-20241655218728
2-20241924424570
  • 40450, conf, Neptune Operating Frederick 3-10 6H, Antelope Creek,
DateOil RunsMCF Sold
6-2024323550
5-202410654838
  • 40336, conf, CLR, Dahle 4-35H, St Demetrius, npd, 
  • 39513, conf, Liberty Resources, Haley E 158-93-29-32-3MBH, East Tioga,
DateOil RunsMCF Sold
6-20241164915097
5-20241677423528
4-20242081924923
3-20241974023964
2-20242527331694
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New Wells Reporting This Week -- August 4, 2024

Locator: 48324B.

Locator: 48324NEWWELLS.

Wednesday, August 14, 2024: 27 for the month; 83 for the quarter, 409 for the year
40467, conf, Kraken, Milloy 10-3-34 2H,
40386, conf, WPX, Missouri River 25-26HIL,
40262, conf, Empire North Dakota, Whooping Crane 29-15 1H,
39253, conf, Hess, SC-4WX-153-98-3130H-5,

Tuesday, August 13, 2024: 27 for the month; 83 for the quarter, 409 for the year
40468, conf, Kraken Operating, Milloy LE 10-3-34 11H,
39799, conf, Enerplus, Diamond 148-95-03A-10H,
39796, conf, Enerplus, Ruby148-95-03B-10H,
24361, conf, Grayson Mill, Knight 35-26 3TFH,

Monday, August 12, 2024: 23 for the month; 79 for the quarter, 405 for the year
39530, conf, Petro-Hunt, Burian 144-98-15B-22-1H,

Sunday, August 11, 2024: 22 for the month; 78 for the quarter, 404 for the year
None.

Saturday, August 10, 2024: 22 for the month; 78 for the quarter, 404 for the year
None.

Friday, August 9, 2024: 22 for the month; 78 for the quarter, 404 for the year
40375, conf, Iron Oil Operating, Stocke 6-4-9H,
39603, conf, Hess, BL-Iverson B-155-95-0807H-8,
39252, conf, Hess, SC-4WC-153-98-3130H-4,

Thursday, August 8, 2024: 19 for the month; 75 for the quarter, 401 for the year
40236, conf, Iron Oil Operating, Stocke 5-4-9H,
39602, conf, Hess, BL-iverson B-155-95-0807H-7,

Wednesday, August 7, 2024: 17 for the month; 73 for the quarter, 399 for the year
None.

Tuesday, August 6, 2024: 17 for the month; 73 for the quarter, 399 for the year
40207, conf, Phoenix Operating, Jean Ferrari 26-35-2 5H-LL,

Monday, August 5, 2024: 16 for the month; 72 for the quarter, 398 for the year
40353, conf, Iron Oil Operating, Stocke 4-4-9H,

Sunday, August 4, 2024: 15 for the month; 71 for the quarter, 397 for the year
40451, conf, Neptune Operating, Frederick LE 3-10 11H,
39512, conf, Liberty Resources, Haley # 158-93-29-32-2MBH,

Saturday, August 3, 2024: 13 for the month; 69 for the quarter, 395 for the year
40450, conf, Neptune Operating Frederick 3-10 6H,
40336, conf, CLR, Dahle 4-35H,
39513, conf, Liberty Resources, Haley E 158-93-29-32-3MBH,

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AI -- A Rambling Thought -- August 4, 2024

Locator: 48323AI.

I'll come back to this later, but there are now two schools of thought with regard to AI.

  • AI: all hype and headed for a big fall.
  • AI: bigger than any of us can imagine.

I'm not talking about investing, I'm talking about the revolution.

I'm in the second group: AI will be bigger than any of us can imagine.  

With regard to bubbles, I get a kick out of folks suggesting that AI is a bubble.

You want to know the real bubble the past ten year? Renewable energy. Unfortunately that's mandated and "renewable energy" is a fake "endeavor."

The real bubble? EVs. 

Name one successful EV company or one successful EV enterprise, excepting perhaps, Tesla. We'll come back to that later.

Rivian might be the most successful independent EV company:

EVs among major automobile companies?

  • we all know the story of F;
  • VW now getting ready to shut down its EV manufacturing site in Belgium

The dot-com bubble: link to wiki.

  • from my perspective, 90% of the dot-com bubble was related to websites, not serious manufacturing or serious products
  • the number of "fake-companies" increased exponentially over a finite and short number of months during the dot-com bubble
  • by this time, had the AI revolution been like the dot-com bubble, the AI phenomenon would have seen a growing number of companies in the AI sector; in fact, one can almost number the "real" AI companies (US) on the fingers of two hands, and the amount of money required suggests not (m)any more significant players likely to appear on the scene
  • know what's incredibly scary? 95% of all chips made in the world are made in Taiwan; now that's scary
  • quick: name three chip manufacturing companies;
  • quick: name ten chip designing companies:
  • quick: name the top ten companies buying as many chips as they can

during the dot-com bubble, anyone with a degree from Harvard and a gift of gab could raise huge amount of money for a website

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Warren Buffett -- BRK -- News And Commentary -- August 4, 2024

Locator: 48322BRK.

Warren Buffett is occasionally tracked here.

The Bill Gates chapter: has the relationship between Bill Gates and Warren Buffett finally reached its last act? Link to The New York Times.  

One factoid from the article: the annual budget of the Gates Foundation exceeds that of the World Health Organization. Buffett was once on the board of the Gates Foundation, but no longer on the board, and he will no longer be giving any more money to the Gates Foundation as of June, 2024.

Rambling:

1. Is Buffett still making all the major decisions, or is he pretty much a figurehead as of 2024?

2. Let's assume he is still making all the major decisions, that he is not simply a figurehead in 2024. Is he raising cash to make one last huge acquisition, one last hurrah -- he is 93 years old; or is he raising cash simply based on "fundamentals" -- preparing for a downturn; taking advantage of bonds before interest rates go lower or is he raising cash, concerned about a financial crisis? But whatever it is, it has nothing to do with his age?

3. Most likely: a combination of all three -- a) preparing for an economic downturn; b) converting some equity positions into very safe interest-generating accounts; and, c) perhaps thinking about a large acquisition.

Having been burned on several large acquisitions, my hunch? Observers are more interested than he is is making one last large acquisition. It's good copy for business columns but not necessarily good business strategy for him. Having said, the surprised all (most) of us with his investment in Chubb, but at the end of the day, it was only 6% of that insurance behemoth.

As noted below, I am the last person to listen to when it comes to financial statements, but:

  • revenues, $177,896 (2023) --> $183,522 (2024): an increase of 3%.
  • earnings, $90,187 (2023) --> $53,843 (2024): a decrease of 40%

Disclaimer:

  • I often make errors in simple calculations;
  • I often misread things
  • I have little experience with financial statements

************************************
Financial Statement

I'm the last person to ask about financial statements, but it seems the 1H24 is quite ... well, not something that I would expect. Whatever.

BRK-B -- 2Q24:

***************************
Start Here

Link here.

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Retirement Savings Rules -- Changes --- August 4, 2024

Locator: 48320IRA.

Link here.


Spaceholder.

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