Enerplus With Six New Permits; Whiting Cancels Three Permits -- September 4, 2024

Locator: 48538B.

Gasoline demand, link here:

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Back to the Bakken

WTI: $69.20. Way below Saudi's comfort zone. OPEC still talks about raising production this fall.

Active rigs: 39.

Six new permits, #41093 - #41098, inclusive,

• Operator: Enerplus
• Field:  Little Knife (Dunn County)
• Comments:
• Enerplus has permits for five Lind wells and one Hamilton well, all in lot 4, section 2-145-97;
• to be sited between 418 FNL and 513 FNL and between 857 FWL and 991 FWL.

Three permits canceled:

• Whiting Oil, three Link permits, McKenzie County;

Presidential Polymarket -- September 4, 2024

Locator: 48537POLITICS.

Polymarket:

Wiki:

Polymarket is a decentralized prediction market platform that allows users to place bets on world events. Users buy and sell shares using cryptocurrency to bet on the likelihood of future events taking place.

NVDA, AVGO, Bloomberg, And Nancy Pelosi -- Nvidia, Broadcom -- September 4, 2024

Locator: 48536CHIPS.

Two tech companies to watch this week ... and next ... and ...

Today: and this is exactly why I have no problem with folks like Nancy Pelosi investing in America:

And from Beth, also:

Relative valuation?

From a post June 13, 2024:

Over at twitter:

Apple's iPhone suppliers:

The Enerplus FB Leviathan Wells Have Been Updated -- September 4, 2024

Locator: 48535LEVIATHAN.

The Enerplus FB Leviathan wells are tracked here and production data has been updated. Example of one:

• 35489, loc/A, Three Forks, FB Leviathan ... 14T2, T2, Antelope, t--; cum 159K 12/22; cum 336K 7/24; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
SANISH	7-2024	31	4110	4118	2445	23484	21023	0
SANISH	6-2024	30	4562	4570	2687	22797	20739	1
SANISH	5-2024	31	5590	5605	3277	28169	26183	0
SANISH	4-2024	30	5657	5696	3471	26727	24886	0
SANISH	3-2024	30	6065	6015	3947	29267	27206	1
SANISH	2-2024	29	5445	5462	3996	25606	23895	7
SANISH	1-2024	24	5404	5404	4973	24530	21630	1355
SANISH	12-2023	31	7142	7113	5755	31194	29123	10
SANISH	11-2023	30	6141	6171	6052	23244	21391	0
SANISH	10-2023	31	6419	6420	4902	27787	25947	24
SANISH	9-2023	30	8708	8711	6443	32214	29970	1
SANISH	8-2023	31	8669	8685	7132	32073	29774	0
SANISH	7-2023	31	10335	10339	8085	42344	39971	1
SANISH	6-2023	30	10276	10307	8357	37447	34124	1183
SANISH	5-2023	30	11955	11972	10707	47913	44579	431
SANISH	4-2023	30	14296	14293	11267	52207	48491	147
SANISH	3-2023	31	15889	15809	11637	53040	49535	417

Electricity Rates By Region -- September 4, 2024

Locator: 48534ELECTRICITY.

Electricity rates by region, link here:

The Southern Surge -- September 4, 2024

Locator: 48533SOUTHERNSURGE.

If Trump and the MAGA folks won't do it, it appears Biden will.

By the way, Biden's poll numbers have never been higher. 

 

Cramer's First Hour -- September 4, 2024

Locator: 48532CRAMER.

Cramer's first hour: a mix of fact, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.  

Vaca Muerta: big, big story on Cramer's "Mad Money" last night. The Vaca Muerta is tracked here. Cramer's interview with Vista CEO is behind a paywall. But these links probably fill the gap:

Two days ago, I cleared out the in-box -- see some of the items down below the fold.

An update regarding some of these themes is in order.

Intel: in latest report, Intel disappoints -- unable to fab the new Broadcom chips. Link here. Also here. Last night  on "Mad Money," Jim Cramer was incredibly negative on Intel / INTC. Final word on "Mad Money" was on INTC. His advice: "stay away."

Lunar Lake: over at MacRumors. 

• Will be sold under the name Intel Core Ultra 200V. Supposedly optimized to take on Qualcomm's Snapdragon X Elite chips that Microsoft recently adopted for its AI-focused Copilot+ PCs

QCOM: just launched its Snapdragon X Plus 8-core processor; ramping up push into the AI PC space, taking on Intel and AMD -- CNBC.

EVs: in a world of hurt. Two links today -- EVs are tracked here. 

• TWSJ: the VW story; nothing new, but a very, very credible source.
• AFP: new car sales in Europe pummeled as EV sales plunge.
• Evan: Volvo -- scraps EV plans. Holy mackerel! And here!

PEG: Peter Lynch's go-to metric -- 

***********************************
Disclaimer
Brief 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. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
  

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Re-Posting The Clutter From September 2, 2024

The Fed:

• the Fed may have reduced inflation even more than it intended; we've talked about this before. Link here.
• Morgan Stanley saying the same thing, link here.

US gasoline prices: 

• EIA says, adjusted for inflation, US gasoline prices are about $1.70 lower today vs twelve years ago!!! Link here.Thank you Harold Hamm and Joe Biden.

Intel (INTC):

• the plan to save the company; comments are very, very helpful.  Link here.
• the plan, Reuters; exclusive. Link here.
• over at twitter, link here.
• crash and burn! Badly designed chips or are they defective? Link here.
• Intel says nothing to see here? LOL. Link here.

Portfoil Parrot: investing; twitter; new. Link here.

Nvidia (NVDA): 

• margins.
• broadening the company's focus.

AI:

• Apple, Johnny Evans. Link here.
• Open AI user count soars as Apple and Nvidia want to invest. Link here.
• Facebook's (META) Llama models are approaching 350 million downloads to date. Link here. IIRC, Mark Zuckerberg is the number 1 buyer of Nvidia's GPUs. Needs to be fact-checked.
• Amazon turns to Anthropic's AI for Alexa revamp. Link here.
• Barron's -- Apple, Nvidia may join Microsfot in funding Open AI, link here.

MSFT: its "recall uninstall option is just a bug. LOL. Link here.

Germany can't compete:

• VW weighs first-ever Germany plant closure to cut costs, link here.
• Dan Tsubouchi, link here.

Lucid:

• 2025: expensive. Link here.

Dollar General: consumers are "strapped," feeling the pain. Link here. But they can afford $100,000 EVs.

HEVs:

• the fake EVs. Simply ICE with a bit of a kick. Nothing more, nothing less. Link here.
• sales. EIA. Link here.

ERCOT: Texas -- huge natural gas demand. LOL. Predicted.

Beth:

• the GPU as a service market: will grow more than 10x by 2032.
• the damn DRAM and MU: the DRAM market surged nearly 25% q/q, in 2Q24.

BRK: sells more BofA; has now cut state by nearly 15%. Link here.

NBC: with the Summer Olympics, "hit it out of the bullpark." Link here.

Investing: stock market returns after rate cuts; link here.

Production Update For The BR Mathistad Wells In Croff Oil Field -- September 4, 2024

Locator: 48531B.

The BR Croff wells are on the same pads as the Mathistad well; the Cross wells run in the opposite direction as the Mathistad wells. 

Several Mathistad wells have produced over 700K bbls crude oil. 

The Mathistad wells:

• 16983, 15 (no typo), BR, Mathistad 1-35H, Croff, API: 33-053-02852, t6/08; cum 321K 11/19; was off line 6/19; returned to production, 9/19; cum 380K 6/24; off line;
  
• 18013, 842, BR, Mathistad 2-35H, Croff, API: 33-053-03011, t7/09; cum 281K 11/19; cum 337K 2/24; off line;
  
• 33144, 318, BR, Mathistad 22A MBH, Croff, 30 stages; 10.5 million lbs, t10/17; cum 476K 11/19; cum 766K 7/24;
  
• 33146, 273, BR, Mathistad 22B UTFH, Croff, 4 sections, Three Forks, 31 stages; 15 million lbs, t10/17; cum 493K 11/19; cum 702K 7/24;
  
• 33152, 414, BR, Mathistad 6-8-35 MBH, Croff, 29 stages; 10 million lbs large, t11/17; cum 562K 11/19; cum 791K 7/24;
  
• 33150, 655, BR, Mathistad 3NC-MTFH, Cross, 4 sections, Three Forks, 29 stages; 14.5 million lbs, t11/17; cum 466K 11/19; cum 633K 7/24; off line;
• 33155, 40, BR, Mathistad 7-8-24 MBH,t3/20; cum 381K 7/24;
  
• 37580, conf, BR, Mathistad 2A MTFH, no production data,
  
• 37578, conf, BR, Mathistad 2B MTFH, no production data, 

This page won't be updated. 

These wells are tracked here.

Hump Day -- September 4, 2024

Locator: 48530B.

EIA: weekly petroleum report --

• crude oil in storage: 4% below the five-year average (this hasn't changed in months)
• refiners: 93.3% -- unchanged in months
• jet fuel delivered: 2.6% -- ho-hum

Cramer: last night, following one of the worst days for the market in a long time, Cramer said US oil companies are going to do a lot worse.

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Back to the Bakken

WTI: $70.17.

Thursday, September 5, 2024: 13 for the month; 141 for the quarter, 465 for the year
40479, conf,  CLR, Roadrunner 5-15H,
40457, conf, Slawson, Nightmaker 6-17-8TFH,
37580, conf, BR, Mathistad 2A MTFH -- Mathistad wells are tracked here, but haven't been updated since 2018?!!!
Wednesday, September 4, 2024: 8 for the month; 138 for the quarter, 462 for the year
40458, conf, Slawson, Nightmaker 7-17-8TFH,
40417, conf, Oasis, Fossum 5301 43-35 3B,

RBN Energy: Chevron's Anchor project opens a new frontier in deepwater production. Archived.

The Gulf of Mexico (GOM) has long been a hotspot for crude oil and natural gas production, but technological advancements have pushed the boundaries of what’s possible in deepwater operations, opening previously inaccessible reservoirs. Chevron is the first to deploy new equipment capable of handling the more extreme pressures found very deep below the seafloor. In today’s RBN blog, we’ll highlight the project — known as Anchor — and explore how this new technology is paving the way for similar developments.