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Monday, August 19, 2024

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.

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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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH6-2024302602225998157754840746244208
SANISH5-20243131090310621538863123617361387
SANISH4-2024305370053696299558367983069610
SANISH3-20242653235533953266669890687451145
SANISH2-20241642639423872422147475442743201
SANISH1-20240000000
SANISH12-2023200291000

  • 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:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH6-202430712071657996945590820
SANISH5-202431773876219213940189990
SANISH4-20243084658667109491038499940
SANISH3-202431103001015815050899886240
SANISH2-20247135013672203178417270
SANISH1-20240000000
SANISH12-20232729301300
SANISH11-2023411121110533268026280
SANISH10-2023319393929744972218321230550
SANISH9-20233090609092460121668212810
SANISH8-2023311060810625485321376209730
SANISH7-20233192009256399017283169010
SANISH6-20233099779895482921637212470
SANISH5-2023311046210453462022480220820
SANISH4-2023301140111486550527757273710
SANISH3-2023311250912479578020769203840
SANISH2-2023281306513015530512004116420
SANISH1-2023311436014356596117905175340
SANISH12-2022311349713601555221907215360
SANISH11-2022301512815066664527652272640
SANISH10-2022311626716293625426817264340
SANISH9-2022301554715644605521796214340
SANISH8-2022291622016203692026674263120
SANISH7-20223123238232191126838670382670
SANISH6-2022261656216163676222457221650
SANISH5-20223127314274731101336284358840
SANISH4-20223030298302961163635894355290
SANISH3-20223136738370161399250483500800
SANISH2-20222834776345251393740928405700
SANISH1-20223143434433791662942855424540
SANISH12-20213142757426921668758829546343800
SANISH11-20213044298443492256547746473600
SANISH10-20213024631247841119627140197187164
SANISH9-20213044343441611695848532421965948
SANISH8-20213138906388981412542094398271864
SANISH7-20213146729467601952951128487361991
SANISH6-20212539903395931671241200381012818
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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, 
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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:

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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,
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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.%.

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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:


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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.

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

Locator: 48462MILEAGE.

Link here. 



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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.

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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.

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