Records -- US Equities -- ETFs -- MMFs -- P/Es -- September 27, 2024

Locator: 48424MARKET.

More and more folks who have followed the market for fifty years are saying they've never seen anything like this before. 

China stimulus. But confusing. 

Gold is now up 29.5% on a YTD basis, outperforming both the S&P 500 Index and the tech-heavy Nasdaq Composite.

ETFs: $10 trillion.This is insane.

Meanwhile.

Link here.

P/Es.

Link here. These are insane.

My favorite chart.

MMF assets increased by $120 billion m/m. Currently at $6.42 trillion. 

Magnificent seven market cap: around $16 trillion.

As of yesterday, September 26, 2024, link here, total = $19.5775 trillion:

And, now the market is "broadening."

Week 39: September 23, 2024 -- September 29, 2024

Locator: 48423TOPSTORIES.

Top story: 

• exploding Hezbollah pagers
  

Top international non-energy story:

• Mideast: Israel opens a new front -- Lebanon, Hezbollah
  
• Ukraine: same ol', same ol'.

Top international energy story:

• Israel taking out senior Hezbollah leaders
  

Top national non-energy story:

• Category 4 Hurricane Helene hits the "bend," Florida; one of the worst ever.
  

Top national energy story:

• 
  

Focus on fracking: current link here. Generally updated late Sunday night.

Top North Dakota non-energy story:

Top North Dakota energy story:

• Devon closed the Grayson Mill deal; Devon officially in the Bakken; no more Grayson Mill

Geoff Simon's quick connects: link here.

The market in a nutshell: At the close -- Dow sets another record -- day of rotation -- tech the big loser --

MRO Activity In Bailey Oil Field -- September 27, 2024

Locator: 48422B.

The wells:

The new wells / the new pad:

• 40747, conf, MRO, Sigrid,
• 40774, conf, MRO, Vettleson,
• 40743, conf, MRO, Jens,
• 40642, conf, MRO, Thornton,
• 40744, conf, MRO, Rappley,
• 40745, conf, MRO, Eder,
• 40746, conf, MRO, ODonnell,
• 40779, conf/ros, MRO, McMillan,
• 40748, conf, MRO, Gross,
• 40749, conf, MRO, Rosenkranz,
• 40750, conf, MRO, McAdoo,
• 40751, conf, MRO, Hafner,
• 40782, conf, MRO, Orval,
• 40781, conf, MRO, Crooks,

Of interest:

• 20321, 1,010, MRO, Tim Eckelberg 44-22H, Bailey, t12/11; cum 351K 7/24; off line;
• 21970, 1,234, MRO, Eckelberg 14-23TFH, Bailey, t3/12; cum 211K 7/24;
• 20402, 1,263, MRO, Eckelberg 14-23H, Bailey, t3/12; cum 260K 7/24;
• 17318, 483, MRO, Clive Pelton 34-23H, Bailey, t8/08; cum 224K 7/24;
• 18736, 626, MRO, Rosemary Eckelberg 21-26H, Bailey, t9/10; cum 286K 7/24;
• 17310, 459, MRO, Rosemary Eckelberg 41-26H, Bailey, t8/08; cum 205K 7/24; off line;

The new wells / new pad:

• 40708, conf, MRO, Simmons,
• 40838, conf, MRO, Sheehan,
• 40824, conf/ros, MRO, Akers,
• 40829, conf, MRO, Margaret,
• 40828, conf, MRO, Kleven,

Of interest:

• 18681, 402, MRO, Eckelberg Farm 34-33H, Bailey, t7/10; cum 464K 7/24;
• 22658, 1,324, MRO, Lee Christensen 34-33H, Bailey, t912; cum 354K 7/24;
  

The maps:

End Of Day Report -- September 27, 2024

Locator: 48421B.

The gap between US and global competitors (EU, China) will widen.

• EU: for a variety of reasons.
• Chinese government: asks Chinese companies to stay away from Nvidia. 

My hunch: Nvidia will sell to US LDCs all the blades it can make. 

Retail: 

• simple minds on CNBC tend to equate WMT with Dollar General, Dollar Tree
• no comparison; absolutely no comparison between WMT and Dollar General!
  
• just saw great explanation on CNBC
• first hint: early today, it was mentioned that Walmart ad revenue much greater than that of Amazon's. 
  

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

Devon completes acquisition of Grayson Mill, effective September 27, 2024. Link here.

WTI: $68.18.

Active rigs: 35.

One new permit:

• Operator: Murex
• Field: Alexander (McKenzie)
• Comment:
• Murex has a permit for a LA-Emma Rose, NWNE 25-151-101, 
• to be sited 295 FNL and 1970 FEL; spacing unit, sections 25 / 36-151-101.

Seven permits renewed:

• Enerplus (7): seven permits in NWNW 28-152-94, Antelope, oil field, Flatiron, Shoal, Fjord, Hogback, Arroyo, Barchan, and Cirque.

************************
The Precipitous Ridge

Why I love to blog! Back on October 1, 2020, I mentioned these permits and learned a lot about geology and some interesting geologic terms. 

By the way, Enerplus has drilled four producing wells in this spacing unit (see below) these wells run north to south. The new "Precipitous Ridge" wells (see above) will run in the opposite direction, south to north:

• 33458, 1,115, Enerplus, Ravine 152-94-16A-21H, Antelope-Sanish, t11/17; cum 474K 7/24;
• 33459, 1,192, Enerplus, Canyon 152-94-16A-21H-TF2, Antelope-Sanish, t11/17; cum 516K 7/24;
• 33460, 1,687, Enerplus, Gully 152-94-16A-21H-TF1, Antelope-Sanish, t11/17; cum 406K 7/24;
• 33461, 840, Enerplus, Mesa 152-94-16A-21H, Antelope-Sanish, t3/18; cum 268K 7/24;

The Committee -- CNBC -- September 27, 2024

Locator: 48420INV.

You can't fix "stupid." Link here.

Dow closes at record.

CNBC, the committee.

Stephanie Link: first company she mentioned -- Freeport-McMoRan (FCX).

• copper: a China play
• return comparison:
  
• FCX: up 15% in the past five days;
• SCCO: up 13% this past week;One year, SCCO vs FCX:
• dividend:
  
• SCCO: pays 2%
• FCX: pays 0.58%

Calls of the day: committee members make comments on the following. I did not include the comments -- buy, hold, sell -- unless they interested me.

• Salesforce (CRM):
• WMT: digital ad growing faster than Amazon
• Pepsi:
• Amgen: committee member not a buyer except on pullbacks. Canto initiates a "buy" recommendation.
• UNP: should benefit from the East Coast / Gulf port strikes. 

**********************************
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. 

News update: Israel strike Hezbollah headquarters in Beirut, Lebanon, following a funeral for a Hezbollah commander who was killed the day before.  

Fentanyl: must read in NY Times. Explains a lot. In big scheme of things, US will get a handle on this but it will take a lot of time. Link here. How "addictive" is fentanyl? From social media responding to the Times article: 

Fentanyl made me feel better than anything I've felt in my entire life. Fentanyl took me to a place of pure, blissful pleasure beyond what words can describe. And I wouldn't know such a feeling was even possible if an eye doctor hadn't used new anesthesiologist during my last surgery.

"What on earth WAS that?" I asked. The anesthesiologist ticked off a list of the mix of the drug cocktail he'd used. The last one was fentanyl. Now I get it.

I've been sober for 23 years. It took me 10 years to finally go 21 days without a drink. So fentanyl? 24 years ago, one little taste of fentanyl, and my life would have been over. I wouldn't have had a prayer against the power of this drug. I'd be dead for sure. That last surgery was more than a year ago. I'm still thinking about fentanyl. How good it felt. How much I'd like to walk away from my troubles and go back to that bliss. The only way to keep people from dying from fentanyl is to eliminate it.

Personal Utility -- Electricity Bill -- September 27, 2024

Locator: 48419ELECTRICITY.

Electricity rates by state, April, 2024, link here. 

Electricity bill, north Texas. Household energy: only electricity, no natural gas. Utility says their electricity is 100% renewable. 

My rate runs about 15.6 cents per kWh, slightly higher than the "advertised" 14.25 cents, up slightly from 14.11 cents one year ago.

You can see that it's actually been cooler this year, but I made a conscious decision not to worry about electricity this summer. And you can see the difference. We're using a lot more energy: a/c and dryer.

Average high temperature:

• last year: 98°F
• this year: 92°F
• previous month: 99°F

Usage:

• last year: 553 kWh
• this month: 832 kWh
• this year, current: 804
  

Average paid this month:

15.6 cents / kWh -- no complaints. ERCOT held -- no blackouts. No real spikes in the price of electricity.

Tim Cook Must Be Listening To His Shareholders -- Announces Change In Movie Strategy -- September 27, 2024

Locator: 48418APPLE.

Will launch fewer movies each year -- around a dozen new movies each year -- and the budget for each movie will be decreased. I found the Apple movie strategy fascinating and alluring but ...  well, I guess Tim Cook doesn't have time to watch all these new movies ....  that is interesting ... I can't keep up with my reading (subscriptions to newspapers and magazines) and all the books that interest me. Same with movies. At some point, one is saturated.

EU's Monumental Demand For AI Will Be Tempered By Supply Of Energy -- September 27, 2024

Locator: 48417AIENERGY.

As noted the other day, my non-Bakken focus has turned to large data centers (LDCs). My focus has changed for two reasons:

• for investing purposes; and,
• simply because I find the subject so fascinating.

Right on cue, EuroNews has an update taking energy into consideration. Link here.

From the linked article:

As Europe’s artificial intelligence (AI) ambitions grow, so does the rapid expanse of data centres and the fossil fuels needed to power them.

Europe’s market saw a 168 per cent increase in data centre investment compared to the same period last year.

Europe’s leading cities for data hubs are London, Paris, and Frankfurt (surprise, surprise).

London got a fresh investment from Amazon’s cloud computing division AWS on Wednesday, which announced a plan to invest £8 billion (€9.5 billion) over the next five years to build and operate data centres in the United Kingdom.

Meanwhile, Microsoft announced in May that it was investing €4 billion in French data centres and AI training, and Amazon announced the same month it would invest €15.7 billion to expand its data centres in the northeastern region of Aragon in Spain.

By 2026 -- in less than two years -- data centres around the world could be using a total of 1,000 terawatt-hours annually, the International Energy Agency (IEA) estimates, adding that this is roughly equivalent to the electricity consumption of Japan. [Think: lots and lots of natural gas unless we revert to using coal.]

The IEA states in its 2024 report that of the 8,000 data centres in the world, a third are in the United States and 16 per cent are in Europe. Population, EU: 450 million. Population, US: 330 million.

The European Union can expect data centre electricity consumption to rise from just under 100 terawatt-hours in 2022 to almost 150 terawatt-hour by 2026.

"Across Europe and over the course of the next 12 months, we are anticipating a monumental wave of next-generation AI demand albeit supply will be tempered given the dearth of available high voltage power,” Stephen Beard, global head of data centres development and investment at Knight Frank, said in a statement.

“The winners will be those that are able to utilise alternative power solutions with earlier demand-only connection dates," he added.

So how much energy will the LDCs cost the EU?

The EU estimates that by 2039 -- fifteen years from now -- the bloc will consume a paltry 3 percent of all energy used .... and the EU is concerned whether the bloc will have enough energy to support even that paltry amount. 

EU poster child for marketing solar power? Spain. So, then this:

CLR's Incredible Harms And Harms Federal Wells -- Two Rigs On Site -- September 27, 2024

Locator: 48416HARMS.

Since our last update, "we've" added to rigs to the locations of interest. See below.

Locator: 10010HARMS.

Current Map
September 27, 2024

Current Maps
February 13, 2024

Updates

August 19, 2024: production updated; huge wells;

August 18, 2022: completion and production update here.

Original Post

The wells:

• 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 430K 6/21; cum 475K 5/22; cum 537K 12/23; cum 553K 6/24;
  
• 22818, 706, CLR, Harms 1-32H, Elm Tree, t12/13; cum 379K 6/21; cum 410K 5/22; cum 450K 12/23; cum 460K 6/24;
  
• 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;
  
• 37989, loc/A, CLR, Harms Federal 17-33H1, Antelope, first production, 6/21; t--; cum 222K 5/22; FracFocus: 7.4 million gallons of water; 86% water by mass; cum 443K 10/23; off line; back on line; cum 492K 6/24;
• 39316, conf, CLR, Harms East Federal 16-33H, Antelope, 
  
• 39838, PNC, CLR, Harms Federal 7-32H2, Elm Tree,
• 39839, PNC, CLR, Harms Federal 8-32H, Elm Tree,
• 39840, conf, CLR, Harms Federal 9-32H1, Elm Tree,
• 39841, conf, CLR, Harms Federal 10-32H, Elm Tree,
• 39842, conf, CLR, Harms Federal 11-32H2, Elm Tree,
• 39843, conf, CLR, Harms Federal 12-32H, Elm Tree,
• 39844, conf, CLR, Harms Federal 13-32H1, Elm Tree,
• 40047, drl/drl, CLR, Harms East Federal 2-33H2, Antelope, s12/23; t--; cum 164K 6/24;
  
• 40048, drl/drl, CLR, Harms East Federal 3-33H, Antelope, s12/23; t--; cum 196K 6/24;
  
• 40049, drl/drl, CLR, Harms East Federal 4-33H1, Antelope, s12/23; t--; cum 207K 6/24;
  
• 40050, conf, CLR, Harms East Federal 5-33H, Antelope, t--; cum 186K 6/24;
  
• 40051, drl/drl, CLR, Harms East Federal 6-33H2, Antelope, s12/23; t--; cum 124K 6/24;
  

Graphics:

***************************
Miscellaneous

The wells:

• 22817, 439, CLR, Harms 2-32H, Elm Tree, t8/13; cum 430K 6/21;

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	6-2021	9	1646	1330	1465	1361	1091	166
BAKKEN	5-2021	0	0	0	0	0	0	0
BAKKEN	4-2021	0	0	0	0	0	0	0
BAKKEN	3-2021	1	258	412	83	0	0	0
BAKKEN	2-2021	19	2602	2904	1703	2281	1750	323
BAKKEN	1-2021	31	5707	5742	3767	5910	3982	1525
BAKKEN	12-2020	31	6157	6240	4397	6318	5185	714
BAKKEN	11-2020	30	6450	6372	5112	5390	4035	950
BAKKEN	10-2020	19	1453	1358	1117	1341	763	472
BAKKEN	9-2020	26	809	699	10	598	411	100
BAKKEN	8-2020	24	3148	3297	1548	2807	2635	0
BAKKEN	7-2020	0	0	229	0	0	0	0
BAKKEN	6-2020	0	0	0	0	0	0	0
BAKKEN	5-2020	0	0	0	0	0	0	0
BAKKEN	4-2020	21	3157	2645	2070	4857	2274	2364
BAKKEN	3-2020	30	4264	4632	3547	4935	1850	2713

Soft Landing? Hard Landing? Neither -- It Will Be A Touch-And-Go With After-Burner Takeoff -- September 27, 2024

Locator: 48415GDP.

GDPNow: up again! Now tracking for a 3.1% for 3Q24. Link here. 

Market today: huge rotation today. Out of tech, into beaten-down stocks, like FedEx. Even AAPL which had held up earlier in the morning now appears to be a bit under pressure. Looks like a buying opportunity next week.

The Dow surges 400 points late morning trading! Three-week winning streak. Thank you Joe Biden and Jay Powell.

VISA: DoJ antitrust lawsuit? Today V is up over $6 / share, about 2.25%.

GM: The Good Times May Be Over -- Barron's --- September 27, 2024

Locator: 48414GM.

Link here.

Only hope: stock buy-backs. LOL. Analysts criticize Apple, Inc (AAPL) for stock buybacks to boost share price. But I guess it's okay for US car manufacturers to do that.

**********************************
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. 

New BR Washburn/Burned Edge Wells And Sequoiafill Wells -- Charlson/Hawkeye -- September 27, 2024

Locator: 48413B.

Those running south:

• 37620, conf, BR, Sequoiafill 1A, Hawkeye, t--; cum --;
• 37619, conf, BR, Sequoiafill 1B, Hawkeye, t--; cum --;
• 37618, conf, BR, Sequoiafill 1C, Hawkeye, t--; cum --;
• 37617, conf, BR, Sequoiafill 1D, Hawkeye, t--; cum --;
• 37616, conf, BR, Sequoiafill 1E, Hawkeye, t--; cum --;
• 37615, conf, BR, Sequoiafill 1F, Hawkeye, t--; cum --;
• 37614, conf, BR, Sequoiafill 1G, Hawkeye, t--; cum --;

Of interest,

• 18140, 540, BR, Sequoia 24-9H, Hawkeye, t9/09; cum 347K 7/24;

Those running to the west:

• 40567 conf, BR, Burned Edge 1A-ULW, Charlson,
• 40566, conf, BR, Burned Edge 2A-ULW, Charlson,
• 17309, back on confidential list, last production reported, 11/21, Washburn 44-36H, drilled back in 2008; 270, open hole; 1.2 million lbs; 10,810 bbls;

Of interest:

• 25655, 2,856, BR, Washburn 43-36TFH, Charlson, t12/13; cum 453K 7/24;
  

Lots of work yet to be done in the Bakken. When I started the blog back in 2009 (actually, 2007), I said often: if you have one well, you will eventually have four wells, probably 8 wells, maybe 12 wells, and possible many more than that. That's now happening (and has been going on for quite some time).

My Favorite Chart -- September 27, 2024

Locator: 48412MMF.

GDPNow: up again! Now tracking for a 3.1% for 3Q24. Link here. 

Market open: 

Link here.

Are you kidding me? Didn't see this coming, but once one thinks about it, not surprising. I would love to post what I think is causing this but I can't handle the pushback. LOL.

My favorite chart.

MMF assets increased by $120 billion m/m. Currently at $6.42 trillion. 

Magnificent seven market cap: around $16 trillion.

As of yesterday, September 26, 2024, link here, total = $19.5775 trillion:

And, now the market is "broadening."

Inflation Numbers Better Than Expected -- Fed's Favorite Inflation Indicator -- Better Than Expected -- September 27, 2024

Locator: 48411ECON.

Too many numbers to post: bottom line -- the numbers are better than forecast.

"We've made progress!" -- CNBC's most hawkish anti-Fed contributor.

Does the market like these numbers? Yes! Negative indices overnight now turning positive. Markets will open at new highs (again).

Let's see what Steve Liesman and others have to say.

Steve Liesman:

• "there will be a time to declare victory on inflation and this is darn close"
• annualized y/y: 1.7% core
• two months now, less than 2.0%
• exactly what the Fed wanted to see
• actually a bit better

Former federal reserve vice chairman: "these numbers were good."

Personal consumption expenditures (PCE): up slightly. 

Savings rate has jumped! This suggests US consumer is doing better than expected. Revision from 3% to 5%. 

And now, gasoline down to $2.51 here in north Texas. 

Futures:

• Dow: up 35.
• S&P 500: up 3.
• Nasdaq: up 23.

Unions have a bit more clout. But unions affect "products" inflation, not "services" inflation.

Therefore, not a real concern -- wage inflation.

Wow, why don't they say it? Goldilocks? Or is even better than "Goldilocks"?

• bull market
• AI revolution: we've never seen anything like this before 
• being led by private money, not federal money
• private money: this is now becoming a meme
  
• PCE up slightly
• savings rate up significantly -- in fact, it jumped
• gasoline prices plummeting
• moving into Christmas season
• GDP coming in at 3%
• unemployment with a 4%-handle -- labor market -- full employment
• inflation: "there will be a time to declare victory on inflation and this is darn close" -- from one of the most curmudgeonly analysts on CNBC.
• Kernan: the wrong time to be flooding the market with "free money." Oh give me a break -- 50 basis points -- and now talking about another 25 basis points -- that's hardly flooding the market with "free money."
• has he looked at morgage rates, lately?
  
• tell me again, free money is bad for the economy;

One month ago, link here:

This month, just reported minutes ago:

AAPL: up almost a dollar in pre-market trading.

Micron: up another $1.00 in pre-market trading.

Intel: Biden administration continues to throw huge amounts of money Intel's way. 

**********************************
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. 
  

*******************************
My Favorite Chart: MMF

Locator: 48412MMF.

Link here.

Are you kidding me? Didn't see this coming, but once one thinks about it, not surprising. I would love to post what I think is causing this but I can't handle the pushback. LOL.

My favorite chart.

MMF assets increased by $120 billion m/m. Currently at $6.42 trillion. 

Magnificent seven market cap: around $16 trillion.

As of yesterday, September 26, 2024, link here, total = $19.5775 trillion:

And, now the market is "broadening."

Costco Update -- 24 Hours Later -- September 27, 2024

Locator: 48410RETAIL.

Updates

September 28, 2024: say what you want, these are outstanding graphics. Link here. The print is small: 

Costco: $ / margins / change:

• net profit: $2.4 billion / 3.0% / +0.2 pp Y/Y
• operating profit: $3.0 billion / 3.8% / +0.3 pp Y/Y
• gross profit: $10.1 billion / 12.7% / +0.4 pp Y/Y
• revenue: $79.9 billion / -- / +1% Y/Y
• net sales: $78.2 billion  / -- / +1% Y/Y

Compare with Walmart (WMT), link here:

• net profit: $5.8 billion / 4.0% / +1.0 pp Y/Y
• operating profit: $5.6 billion / 3.0% / +0.5 pp Y/Y
• gross profit: $38.6 billion / 24% / +1.0 pp Y/Y
• revenue: $164.0 billion / -- / +7% Y/Y
• net sales: $162.7 billion  / -- / +7% Y/Y
• Walmart USA: $113.7 billion (ex Walmart international, Sam's Club
  

September 27, 2024: Costco scans membership cards at entrance to the store. Link here.

Original Post

WMT's P/E: 42.

Now:

 

Previously:

Locator: 48402RETAIL.

Tag: COST, Costco.  

Ticker after results: down 1.5%.  

Observations:

• P/Es -- this is hard to believe:
• COST: 56
• NVDA: 58
• Dividends: both pay minimal dividends, thought COST is much higher;
• Share price:
• COST: $900 / share
• NVDA: $125 / share
  

Which would you rather own? Last year. Three years ago I had a position in neither of these companies. Shortly after that I started building a position in one of these two companies. If you bought both either of these companies one year ago:

Margins? I can only guess. 60% vs 7%. Use your own numbers.

Results, link here. Easily beat "whisper number," also.

*************************
Original Post

Link here.

COST earnings after close, the expectation from the WhisperNumber community is $5.14, 6c ahead of analyst estimates. Earnings came in $0.01 ahead of the whisper last quarter. 45% beat rate. Implied move +/-3.7%.

 

Wells Coming Off Confidential List -- Closing Out The Third Quarter, 2024

Locator: 48409B.

Presidential politics: the future of Detroit and the EV story. A WSJ article. Finally, some transparency. LOL. Means nothing until it means something. But wow, EVs: one step forward, three or four steps back. How's that federal EV charging infrastructure initiative working out. The Washington Post, March 29, 2024:

From the linked article (if anyone really cares):

But now, more than two years after Congress allocated $7.5 billion to help build out those stations, only 7 EV charging stations are operational across four states. And as the Biden administration rolls out its new rules for emissions from cars and trucks — which will require a lot more electric cars and hybrids on the road — the sluggish build-out could slow the transition to electric cars.

Meanwhile, just last month:

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

WTI: $67.88.

Monday, September 30, 2024: 62 for the month; 190 for the quarter, 514 for the year
40238, conf, Hess, BL-Kerbaugh-LW-156-96-3427H-1, Beaver Lodge, a huge well in the Williston Basin's older oil field;
37825, conf, Enerplus, Kit 149-93-10A-15H, Mandaree, a disappointment?

Sunday, September 29, 2024: 60 for the month; 188 for the quarter, 512 for the year
40239, conf, Hess, BL-Kerbaugh-156-96-3427H-8, Beaver Lodge, a huge well in the Williston Basin's older oil field;
37826, conf, Enerplus, Renard 149-93-10A-15H, Mandaree, a bit of a disappointment?

Saturday, September 28,  2024: 58 for the month; 186 for the quarter, 510 for the year
40281, conf, Hess, EN-Lonetree Farm-156-94-0805H-8,

Friday, September 27, 2024: 57 for the month; 185 for the quarter, 509 for the year
40280, conf, Hess, EN-Lonetree Farm-156-94-0805H-7,
39936, conf, Hess, RS-Feldman-LW-156-92-1423H-1, Alger, a nice well;

RBN Energy  Longhorn pipeline's flexibility has made it a critical conduit for Permian crude.

The great Texas philosopher Matthew McConaughey once said, “I don’t want to just revolve. I want to evolve.” Few pieces of crude oil infrastructure embody that spirit of adaptation quite like ONEOK’s Longhorn Pipeline. Starting out as a Houston-bound conduit for Permian crude, Longhorn later reversed its flow and started moving refined products, then — at just the right time, in the early days of the Permian’s Shale Era rebirth — flipped back to eastbound crude service. In today’s RBN blog, we’ll detail the pipeline’s evolution and its critical role in moving Permian oil to the Gulf Coast market.

Next Up: Apple's M5 -- Stacked - September 27, 2024

Locator: 48408APPLE.

Link here. 

Link here. Why is Reddit becoming the source for these stories?

System on a Chip (SoC). SoC tracked here on the blog.

• M-series, M1, M2, M3, and M4: TSM, 3-nm -- desktops, laptops, tablets -- newest models in 2024.
• Apple's press release. 
• now, M5 -- July 5, 2024. September 27, 2024.
  
• A-series, A-17: TSM, 3-nm -- iPhone, iPhone 15 Pro and iPhone Pro Max
• A-series, A-18: all here.
  

System on a chip: the moment the industry shifted its focus.

Gasoline Price In DFW Area: $2.51 / Gallon -- September 27, 2024

Locator: 48407GASOLINE.

Photo pending.