First Day Of The Last Month Of The Fourth Quarter Of The Year -- December 2, 2024

Locator: 44483B.

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Back to the Bakken

WTI: $68.14.

Active rigs: 37.

Three new permits, #41384 - #41386, inclusive:

• Operator: Hess
• Field: New Home (Williams)
• Comments:
• Hess has permits for three GN-Stundal wells, SWSE 7-158-97, 
• to be sited 2069 / 2070 FEL and at the following distances FSL: 633; 600; and, 567.

Nine wells approved for confidential status.

Eighteen wells released from confidential status.

Four producing wells (DUCs) reported as completed:

• 40319, 338, Kraken, Maddie 10-15-22 3H, Williams County;
• 40382, 320, Kraken, Maddie 10-15-22 4H, Williams County;
• 40383, 525, Kraken, Maddie 10-15-22 5H, Williams County;
• 40384, 514, Kraken, Wayne 11-14-23 23H, Williams County;

Compare And Contrast --- Operation Breakout -- Apple -- December 2, 2024

Locator: 44482AAPL.

Market cap at close:

• AAPL: $3.59 trillion.
• NVDA: $3.36 trillion.

From earlier today, link here.  See disclaimer.

Tag: Apple, Berkshire, Buffett, Tim Cook, Steve Jobs. 

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AAPL vs BRK-B

Three months:

 Six months:

Year-to-date:

Five years:

Max:

One is widely held and universally loved.

The other is widely held and generally universally hated.

I find the three-month chart the most interesting and perhaps the most instructive.

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Operation Breakout

Link here. I know nothing about Operation Breakout. This is first I've heard of this Apple initiative. It shows the value of "never quit reading."

TLMWR (too long, most won't read): hopefully this is not behind a paywall and folks can access it. It was written in 2022 and so much of it may have changed, but it provides an insight (or insights) into how "Apple" thinks. Link here. I don't know if it's an easy read. I know I am having to read it several times to catch the nuances. I will eventually download the entire article for personal use but will quote liberally from the article. But that is awhile from now.

 

What makes this all so important: Apple doesn't want to be the next Intel.

**********************************
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 something appears wrong, it probably is. Feel free to fact check everything.
  
• 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.
• Longer version here.

Cramer's First Hour, Part 1 -- December 2, 2024

Locator: 44481CRAMER.

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

Gelsinger: is out. Intel (INTC) is up. Can't remember what I blogged about Gelsinger but all I can say now is this: "about time."

• perhaps the worse "over-promiser / under-deliverer" of any CEO Cramer has seen;
• over five years: INTC dropped 60% in value
• a "balance sheet" issue --
• Cramer says Intel needs someone who knows the difference between a stock and a bond -- apparently the "balance sheet" is a mess; prior to Gelsinger, the balance sheet was said to be "pristine."
• doesn't solve Intel's problem 
• under Gelsinger, INTC was dropped from the Dow and replaced by NVDA (very recently)
  

From last year: link here to The WSJ:

Lesson learned: never quit reading. Beware talking heads on CNBC.

Does government deficit spending cause inflation? No. Exhibit A -- Bitcoin (supply and demand; mojo; greed).

• other exhibits
• used cars,
• eggs,
• housing

Populism: Trump is a populist. 

It's interesting to hear all the talking heads pushing back ideas that would benefit the consumer -- generally populist ideas. Trump is trying to improve things for the average American, and the elitist media is pushing back on this. Now that Trump is advocating for them -- like lower gasoline prices; no taxes on social security; cap on credit card rates.

AAPL: this is quite a surprise. AAPL just turned green in pre-market trading. 

US equity markets: slightly negative all night are now turning green, but still not much change since Friday's record close. 

Over the past year, RIVN actually doing better than STLA. Past six months, Stellantis:

**********************************
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 something appears wrong, it probably is. Feel free to fact check everything.
  
• 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.
• Longer version here.

WTI Holds Above $68 -- December 2, 2024

Locator: 44481B.

Tag: MMF, Germany, EVS, Stellantis (STLA)

Pardon: Reddit readers absolutely shocked / aghast / angry about this new development. Reddit stopped all new comments. 

Talk television: since "Morning Joe" wanted to void the pardon issue correctly, it will be interesting to see what Whoopi has to say on "The View."

Without comment for now, but in the news today:

• Stellantis: CEO steps down; what sealed his fate.
• Germany
  
• Germany: deindustrialization; getting worse.
• Germany: Volkswagen workers stage "warning" strikes.
  
• Germany - France: energy. Fading wind prompts Germany to fire up dirty oil and gas plants; buy electricity from France.
• Kamala disappears: where she spent Thanksgiving vacation.
• LNG: the next four years will be all about natural gas. Alex Kimani.
• JK Rowling: might have just won the culture war.
• EVs:
  
• EVs: in The New York Times -- best headline ever -- "Automakers to Trump: please require us to sell electric vehicles." 
• auto manufacturers have spent so much money on EV infrastructure, they can't afford to write it off;
• and, 1.1 million auto workers (AKA voters) directly involved in EV production and marketing
  
• EVs: cost of recharging in Britain!
• Assad: crumbling?

Tech:

• Windows-based AI PCs took 53% share in the quarter. Beth.

Money:

• MMF: assets increase by $26.77 billion to $6.68 trillion for the six-day period ended Tuesday, November 26, 2024

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Back to the Bakken

WTI: $68.76.

Tuesday, December 3, 2024: 3 for the month; 107 for the quarter, 638 for the year

• 39750, conf, Hess, RS-F Nelson-156-91-2413H-5,

Monday, December 2, 2024: 2 for the month; 106 for the quarter, 637 for the year

• 40106, conf, Enerplus, Devils Canyon 147-97--17-20-7H,

Sunday, December 1, 2024: 1 for the month; 105 for the quarter, 636 for the year

• 39749, conf, Hess, RS-F Nelson-156-91-2413H-4,

Saturday, November 30, 2024: 58 for the month;104 for the quarter, 635 for the year

• 40670, conf, CLR Carpenter 2-13H,
• 40665, conf, CLR, Sandhill 7-24HSL,
• 40661, conf, CLR, Sandhill 2-24H,
• 40107, conf, Enerplus, Devils Canyon 147-97-17-20-8H,
• 39858, conf, Hess, EN-Charles-Wood-157-94-1720H-5,

RBN Energy: more M&A, divestitures and swaps as E&Ps and midstreamers fine-tune portfolios.

Even with all the headline-making deals we’ve seen in the North American oil and gas industry over the past two or three years, producers and midstream companies are still at it.

And the M&A, the post-acquisition divestitures and the acreage swaps aren’t confined to the Permian, which has seen more than its share of big-dollar transactions lately. In fact, as we discuss in today’s RBN blog, some of the biggest deals the past few months have involved production assets in the booming Montney in Western Canada, the generally sleepy Piceance in western Colorado, the quirky-as-heck Uinta in Utah, and — on the midstream side of things — a trio of natural gas pipelines in the Midwest.