Warren Continues To Raise A Lot Of Cash -- August 19, 2024

Locator: 48470BRK.

Link here. 

Link here.

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Something's Happening

Link here.

CLR's Incredible Harms And Harms Federal Wells Have Been Updated -- August 19, 2024

Locator: 48469HARMS.

Yes, these are quite incredible. 

Link here, this is where these wells are tracked. 

Random example of the dozen or so wells in that family:

• 40049, drl/drl, CLR, Harms East Federal 4-33H1, Antelope, s12/23; t--; cum 207K 6/24; full production profile:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	6-2024	30	26022	25998	15775	48407	46244	208
SANISH	5-2024	31	31090	31062	15388	63123	61736	1387
SANISH	4-2024	30	53700	53696	29955	83679	83069	610
SANISH	3-2024	26	53235	53395	32666	69890	68745	1145
SANISH	2-2024	16	42639	42387	24221	47475	44274	3201
SANISH	1-2024	0	0	0	0	0	0	0
SANISH	12-2023	2	0	0	291	0	0	0

• 37988, conf-->loc/A, CLR, Harms Federal 18-33H, Antelope, huge well, first production, 6/21, t--; cum 454K 5/22; FracFocus: 8.5 million gallons fresh water; 84% water by mass; cum 682K 10/23; off line; back on line; cum 717K 6/24; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	6-2024	30	7120	7165	7996	9455	9082	0
SANISH	5-2024	31	7738	7621	9213	9401	8999	0
SANISH	4-2024	30	8465	8667	10949	10384	9994	0
SANISH	3-2024	31	10300	10158	15050	8998	8624	0
SANISH	2-2024	7	1350	1367	2203	1784	1727	0
SANISH	1-2024	0	0	0	0	0	0	0
SANISH	12-2023	2	72	93	0	13	0	0
SANISH	11-2023	4	1112	1110	533	2680	2628	0
SANISH	10-2023	31	9393	9297	4497	22183	21230	550
SANISH	9-2023	30	9060	9092	4601	21668	21281	0
SANISH	8-2023	31	10608	10625	4853	21376	20973	0
SANISH	7-2023	31	9200	9256	3990	17283	16901	0
SANISH	6-2023	30	9977	9895	4829	21637	21247	0
SANISH	5-2023	31	10462	10453	4620	22480	22082	0
SANISH	4-2023	30	11401	11486	5505	27757	27371	0
SANISH	3-2023	31	12509	12479	5780	20769	20384	0
SANISH	2-2023	28	13065	13015	5305	12004	11642	0
SANISH	1-2023	31	14360	14356	5961	17905	17534	0
SANISH	12-2022	31	13497	13601	5552	21907	21536	0
SANISH	11-2022	30	15128	15066	6645	27652	27264	0
SANISH	10-2022	31	16267	16293	6254	26817	26434	0
SANISH	9-2022	30	15547	15644	6055	21796	21434	0
SANISH	8-2022	29	16220	16203	6920	26674	26312	0
SANISH	7-2022	31	23238	23219	11268	38670	38267	0
SANISH	6-2022	26	16562	16163	6762	22457	22165	0
SANISH	5-2022	31	27314	27473	11013	36284	35884	0
SANISH	4-2022	30	30298	30296	11636	35894	35529	0
SANISH	3-2022	31	36738	37016	13992	50483	50080	0
SANISH	2-2022	28	34776	34525	13937	40928	40570	0
SANISH	1-2022	31	43434	43379	16629	42855	42454	0
SANISH	12-2021	31	42757	42692	16687	58829	54634	3800
SANISH	11-2021	30	44298	44349	22565	47746	47360	0
SANISH	10-2021	30	24631	24784	11196	27140	19718	7164
SANISH	9-2021	30	44343	44161	16958	48532	42196	5948
SANISH	8-2021	31	38906	38898	14125	42094	39827	1864
SANISH	7-2021	31	46729	46760	19529	51128	48736	1991
SANISH	6-2021	25	39903	39593	16712	41200	38101	2818

Updating Four Petro-Hunt Wells -- Rig On Site, #38359 -- August 19, 2024

Locator: 48468PETRO.

These four wells have been followed in several previous posts.

Petro-Hunt wells with which the reader has interests, production tracked here.

This brings these four wells up to date.

Three of the wells have been producing for some time. The fourth one,  the permit for #38359 has been renewed at least once. Finally, Petro-Hunt is drilling that well -- there is now a rig on site according to the NDIC.

The map:

The wells:

• 29090 (operator number  x-19717), 1,032, Petro-Hunt, USA 153-95-23C-14-6H, Charlson, t7/18; cum 479K 6/24; F;
• 29091 (operator number  x-19718), 1,031, Petro-Hunt, USA 153-95-23C-14-5H, Charlson, t6/18; cum 376K 6/24; F;
• 32165 (operator number  x-20386), 1,090, Petro-Hunt, USA 153-95-23C-14-4H, Charlson, t5/18; cum 520K 6/24; F;
• 38359 (operator number  x-xxxx), ros/conf, Petro-Hunt, Sherven Trust 153-95-27A-26-1HS, Charlson, 

Presidential Campaign -- Crazy Talk -- August 19, 2024

Locator: 48467POLITICS.

Updates

Later, 9:10 p.m. CDT: At the DNC tonight --  HRC followed AOC on the podium. Both with incredible speeches. And if AOC goes a bit more mainstream, she could become a more powerful force on the national stage than many folks might have imagined two years ago. Andy Beshear, Jill Biden and Joe Biden yet to speak tonight.

Later, 8:25 p.m. CDT: imagine the excitement in Nevada, Michigan, Wisconsin, Pennsylvania, the Carolinas, Georgia, and Florida when Barack Obama shows up. When Michelle Obama shows up. When Joe Biden shows up (though that will be rare). When Bill Clinton shows up. When Oprah shows up. When Gavin shows up. When Pete shows up. And the list goes on.

Original Post 

Link here.

I would assume Kamala Harris is paying close attention.

With an unemployment rate of 4.3%, the US is at full employment. In addition, a record number of Americans are employed. Not counted, of course, are many undocumented workers, many / most of whom are working "without benefits."

From Statista, record number of full-time employees in the United States:

US Federal Reserve:

Five New Permits; Three Permits Renewed; Two DUCs Reported As Completed -- August 19, 2024

 Locator: 48466B.

WTI: $74.37.

Active rigs: 36.

Five new permits, #41037 - #41041, inclusive:

• Operator: XTO
• Field: Hofflund (Williams); Grinnell (Williams)
• Comments:
• XTO has permits for five wells, NENW 16-154-95, to be sited 1669 FWL and at the following distances from the north line: 790 FNL; 820 FNL; 850 FNL; 880 FNL; and 940 FNL; 
• four of the wells are HBU Lizette State Federal wells and the fifth well is a Lizette State well;
• the four federal wells are unitized (Hofflund-Bakken unit); the Lizette State well's spacing unit: sections 16/17/20/21/28/29 - 154-95.

Three permits renewed:

• Whiting: three Link permits, Foreman Butte, McKenzie County;

Two producing wells (DUCs) were reported as completed:

• 30915, 100, BR, Saddle Butte 14-9 TFH,
• 30916, 100, Saddle Butte 14-9 MBH-ULW,

Still Talking About A Recession -- Market Wrap -- August 19, 2024

Locator: 48465ECON.

Screenshot from CNBC, 3:41 p.m. CDT:

Palo Alto Networks (PANW): stellar earnings report:

AAPL: biggest loser on the Dow earlier in the day but by the end of the day came back nicely but still finished in the red. After-hours: steady.

Warren: laughing all the way to the bank. BRK up 1% today, hitting a 52-week high. With regard to these observations about BRK selling AAPL, we've had these discussions before. They are vacuous.

ONEOK: hit a 52-week high today. Pay 4.%.

Another Passing Fad? Hydrogen -- August 19, 2024

Locator: 48464H2.

Hydrogen is tracked here. What a debacle.

Link here to The WSJ.  

Is this foreshadowing "big truck hydrogen"? Daimler is heavily invested in hydrogen.

From the linked article:

Startups promising to power planes, ships and trucks with clean fuel are sputtering before they get off the ground, showing how hard it will be to wean many industries off oil and gas.

A company backed by United Airlines that raised hundreds of millions of dollars to turn trash into jet fuel appears to have shut down. Another, backed by Airbus, JetBlue and GE Aerospace, that was working on using hydrogen to power planes went bust.

Chevron, BP and Shell, meanwhile, are scaling back projects to make biofuels from cooking fats, oils, greases and plant material.

 “The excitement of the early days has not lived up to the hype,” said Andy Marsh, chief executive of Plug Power, a startup that recently opened one of the country’s first plants making green hydrogen, a potential replacement for fossil fuels in industries such as steel making and chemical production.

The poster child for hydrogen energy:

The Moment The Industry Switched From Emphasis On Chips To Emphasis On Systems On A Chip -- August 19, 2024

Locator: 48463TECH.

What is this all about? This is the moment the industry switched from emphasis on chips to emphasis on systems on a chip, where Apple leads in personal computing. 

Tech is tracked here.

Chips tracked here.

AMD:

The earlier post this morning about the HP OmniBook powered by the Qualcomm Snapdragon CPU and the Qualcomm Andreon GPU is a focus on chips and assembly.

Apple and AMD are now focusing on systems on a chip. Among the big names, Apple was first with systems on a chip. Previously discussed at length.

Don't Mention The Mileage -- GMC's Yukon SUV -- August 19, 2024

Locator: 48462MILEAGE.

Link here. 

US Debt In Perspective -- August 19, 2024

Locator: 48461DEBT.

Tag: debt; sovereign debt;

Link here. 

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GDP 

Link here. Estimates sinking fast. Just a few weeks ago, the estimate was 2.8 and then fell to 2.4, and now sits at 2.0 for 3Q24.

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Phil Donahue

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Cramer's First Hour

Starts off with magnificent 7, of course.

Apple: poised to win in AI. But that's already priced in.  Currently trading at around $211.

Boring: a fairly boring Monday morning for Cramer's first hour.

SBUX: link here.

HPQ: watch the ticker today. Says HP AI rolling out more slowly than forecast. 

HP's OmniBook X 14 -- you can do better -- Verge. Link here. August 15, 2024. QCOM's Snapdragon. The writer still prefers his company-provided 13-inch MacBook Air. Both are similarly priced. The Air has the new M2 and M3 chips. [HP: even steals the Apple "book" name. It gets tedious.]

From the linked Verge article:

The freshman class of Windows Copilot Plus PCs has its battery champ, and it’s even a few hundred dollars cheaper than Microsoft’s new Surface Laptop. But it’s also business-class boring, with a middling screen and subpar trackpad.

HP’s new OmniBook X 14 is one of the first laptops with Qualcomm’s Arm-based Snapdragon X Elite processor. Like most of the ones we’ve seen so far, it’s a thin and light machine aimed at productivity tasks and stuffed with AI fluff. It starts at $1,150, with a 14-inch LCD screen, 12-core processor, 16GB of RAM, and a 512GB SSD — with an optional upgrade to a 1TB drive for $1,200, though it’s often on sale for less. [GPU: Qualcomm Adreno.]

Most of the other Windows laptops we’ve seen with these new Arm chips have bright, beautiful screens and other creature comforts. The OmniBook, on the other hand, is a near-clone of the HP EliteBook Ultra, a machine built for high-volume office deployment, and it shows.

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The Book Page

Three links today.

The Killer Shrews, link here.

British governesses and literature, link here. Considering the source, I was expecting more. Disappointed.

Book bars gain momentum in NYC, link here.

Manic Monday -- August 19, 2024

Locator: 48460B.

GM: to cut 1,000 salaried jobs.

AMD:

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Back to the Bakken

WTI: $76.97.

Monday, August 19, 2024: 47 for the month; 103 for the quarter, 429 for the year
40390, conf, WPX, Missouri River 25-26HW,
39901, conf, Liberty Resources, Alvin E 158-95-18-19-2MBH,

Sunday, August 18, 2024: 45 for the month; 101 for the quarter, 427 for the year
40237, conf, WPX, Missouri River 25-26HC,
39902, conf, Liberty Resources, Alvin E 158-95-18-19-2MBH,
39795, conf, Enerplus, Sapphire 148-95-03B-10H,
39254, conf, Hess, SC-4WX-153-98-3130H-6,

Saturday, August 17, 2024: 41 for the month; 97 for the quarter, 423 for the year
40416, conf, Kraken, Fasching 15-22-27 4H,
40389, conf, WPX, Missouri River 25-26HW,
24360, conf, Grayson Mill, Knight 35-26 2H,

RBN Energy: federal bill would streamline energy project permitting, judicial review. 

The permitting process for energy projects can drag on for years, resulting in multiple state and federal hurdles, environmental studies and judicial reviews. This is true not only of traditional energy projects involving oil and gas but also renewables like wind and solar and long-distance transmission, which are seen as key elements of the energy transition. Legislation proposed by a pair of influential senators aims to help move these projects along every step of the way but getting Congress to agree on anything — especially during an election year — figures to be a formidable challenge. In today’s RBN blog we examine the Energy Permitting Reform Act of 2024.