Resting Teslas -- September 20, 2024

Locator: 48340TESLA.

Impossible to ignore. Link here. I'll post video / photo when I get a chance. I don't know rules about showing license plates on YouTube. Story was being reported as far back as 2018 in The New York Times. Fascinating. But it simply appears these are "Tesla Delivery Centers": cars that have been ordered, paid for, delivered and now waiting for owners to claim them.

We're seeing the same thing in the DFW area where Tesla has a huge consumer-buying population! Link here. Specifically in the Glade Parks shopping mall parking lot, opposite Target, off Glade Avenue, Euless, TX.

In the DFW area, these cars all have license plates suggesting they have already been sold. Were they all foreclosed on? Brought back by customers for various reasons? The license plates are in perfect condition, suggesting either never been driven, or "barely" driven.

Peter Zeihan -- On Ted Cruz -- September 20, 2024

Locator: 48339POLITICS.

Tag: Peter Zeihan.

Link here. 

Be sure to complete the thread.

Seven New Permits; One DUC Reported As Completed -- September 20, 2024

Locator: 48338B.

Dow Jones: set another new record high closing -- 42063.8 despite a miserable day for energy. And WTI trending toward $72. 

AAPL: fell back at the close. Closed at its open. Flat for the day.

********************************
Back to the Bakken

WTI: $71.92.

Active rigs: 40.

Seven new permits, #41159 - #41165, inclusive:

• Operators: Phoenix Operating (5); Silver Hill Energy; Hess.
• Fields: Kittleson Slough (Mountrail); Enget Lake (Mountrail); Ellsworth (McKenzie).
• Comments:
• Hess has a permit for a BW-Sharown Lynor well, NWNE 20-149-100; 
• to be sited 470 FNL and 2570 FEL; three-section spacing unit: sections 20 / 29 / 32;
• Silver Hill Energy has a permit for a Christine well, SWSW 10-158-93, 
• to be sited 358 FSL and 439 FWL; four-section spacing unit: sections 3 / 4 / 9 / 10;
• Phoenix Operating has permit for four Pladson wells, lot 4, section 4-157-91; 
• to be sited 299 FNL and at 1228 FWL, 1258 FWL, 1288 FWL, 1348 FWL, and 1378 FWL.
• two wells are two-section spacing; sections 4 / 9;
• three wells are three-section spacing; sections 21 / 28 / 33
  

One producing well (a DUC) reported as completed:

• 40361, 460, Oasis, Maverick Federal 5601 13-12 3B, Williams County

Dry hole:

• 40411, dry, CLR, Anheluk 4-26H, Billings County.

More Powerful Rivians Announced -- September 20, 2024

Locator: 48337EVS.

Rivian links today:

Link here.

Link here. Look at the "starting" prices of these EVs.

"They" say overall sales of vehicles are not doing well this year. "They" say folks are waiting to buy a new car for better rates. 

My hunch: that's accurate, but worse, they see these "starting prices" and assume that's true for all new cars. In fact, non-EV, smaller cars remain quite affordable, but I assume a lot of folks are afraid to go look.

Ticker, RIVN:

• fell 11% today!
• fell 13% this past week$
• past full year: has fallen 50%.

Three days ago, link here.

From InsideEVs today (dynamic link).

This was the top story:

Second story:

And there's the "weight" story.

Meanwhile, for Tesla, link here:

We're seeing the same thing in the DFW area where Tesla has a huge consumer-buying population! Link here.


In the DFW area, these cars all have license plates suggesting they have already been sold. Were they all foreclosed on? Brought back by customers for various reasons? The license plates are in perfect condition, suggesting either never been driven, or "barely" driven.

Clearing Out The In-Box; Clearing Off The Desktop -- September 20, 2024

Locator: 48336TECH.

When it comes to AI, there are two camps:

• one camp: it's all hype / it's all hyped;
• the second camp: it's the real deal.

I'm in the second camp.

Tag: Intel, INTC, Qualcomm, QCOM, Mideast, FedEx.

Beth, link here.

Intel, the dots are starting to connect. Ten little Indians; then there were nine.

Fedex: so predictable. Saw it coming two years ago. Posted those thoughts at that time. See this recent post.

Mideast:

Anna May Wong:

A Lot Of Bakken Activity To Report Mid-Month; Hess Will Report Another Huge Well -- September 20, 2024

Locator: 48335B.

WTI: $71.95.

Sunday, September 22, 2024: 48 for the month; 176 for the quarter, 500 for the year
40351, conf, KODA Resources, Stout1435-6BH,
40350, conf, KODA Resources, Stout 14-2-5BH,
40240, conf, Hess, BL-Kerbaugh-156-96-3427H-7, Beaver Lodge,

Saturday, September 21, 2024: 45 for the month; 173 for the quarter, 497 for the year
40560, conf, Slawson, Prowler 1 SLH,
39934, conf, Hess, RS-Feldman-156-92-1423H-2,
23385, conf, Grayson Mill, Beaux 18-19 6H,

Friday, September 20, 2024: 42 for the month; 170 for the quarter, 494 for the year
40502, conf, CLR, Kennedy 9-31HSL,
39933, conf, Hess, RS-Juma-156-92-1131H-3,
23388, conf, Grayson Mill, Beaux 18-19 3TFH,
23387, conf, Grayson Mill, Beaux 18-19 4H,
23386, conf, Grayson Mill, Beaux 18-19 5H, 

Nice: oldest field in the Williston Basin:

• 40240, conf, Hess, BL-Kerbaugh-156-96-3427H-7, Beaver Lodge,

Date	Oil Runs	MCF Sold
7-2024	17530	49541
6-2024	22334	59187
5-2024	24094	45394
4-2024	44350	83258
3-2024	14719	25476

RBN Energy: US gas producers remain financially sound despite red ink in first-half 2024.

E&P investors have historically been a skittish lot, and for good reason. In the second half of the 2010s, the S&P E&P Index had as many sudden ups and downs as Coney Island’s famous Cyclone roller coaster, culminating in a near crash in early 2020 as equity prices bottomed out at one-tenth their peak. A fairly smooth annual return of nearly 7% over the 2021-to-Q2 2024 period has wooed money back to a sector that now prioritizes shareholder returns. But wariness remains, especially as natural gas prices cratered to three-decade summer lows. In today’s RBN blog, we analyze the balance sheets and budgets of the U.S. gas-focused producers we track to determine if there are causes for concern.

The Lines Are Back! September 20, 2024

Locator: 48334APPLE.

Link here. 

********************************
Apple Wins Big
S&P Re-Shuffle

Link here. 

From the linked article:

Equity gauges from S&P Dow Jones Indices and FTSE Russell will be revamped, today, Friday, with this quarterly activity forecast to be the busiest in almost four years thanks to tech-driven market gyrations.

Apple Inc.’s weighting will be increased in key benchmarks after Warren Buffett’s recent share sale. At the same time, new S&P index-capping rules, which govern allocations for the largest companies, are scheduled to kick in.

With fresh demand among benchmark trackers for the likes of Apple and new additions to the S&P 500 — Palantir Technologies Inc. and Dell Technologies Inc. — computer and software shares will buck the broad trend of net outflows for other industries, Piper Sandler & Co. estimates show.

All told, tech names are expected to see $40 billion of net buying, with Apple making up the bulk. 

The rebalance is set to round out a big week, between the Federal Reserve’s first interest-rate cut in four years and a quarterly episode known as triple witching.

With $5.1 trillion of derivatives tied to stocks and indexes scheduled to mature Friday, that can spur market turbulence as traders roll over their existing positions or start new ones.

Not on my bingo card today: