Locator: 48436CHORD.
See disclaimer. This is not an investment site.
There are only a handful of companies operating in the Bakken in which I would invest. Chord Energy is one of them. I recently pivoted out of energy into tech (over the past three years) and I do not know if I still own any Chord Energy shares.
Prior to the dividend hike, CHRD is paying 7.21%.
From today:
Elsewhere, holy mackerel, link here:
Washington, DC; February 27, 2025—Total money market fund assets increased by $60.54 billion to $6.97 trillion for the week ended Wednesday, February 26, the Investment Company Institute reported today. Among taxable money market funds, government funds2 increased by $52.97 billion and prime funds increased by $5.84 billion. Tax-exempt money market funds increased by $1.72 billion.
Also, link here.
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Outbreak: Congo
Being reported by the WHO over the last couple of days, and I can't make this up:
The WHO said in a statement Thursday that, along with Congo health officials, it was "carrying out further investigations to determine the cause of another cluster of illness and community deaths" in the Equateur province, marking the third time this year disease surveillance teams have identified an increase in illness and deaths in the region.
"The most recent cluster occurred in the Basankusu health zone, where last week 141 additional people fell ill, with no deaths reported," the United Nations' global health agency said. "In the same health zone, 158 cases and 58 deaths were reported in the same health zone (sic) earlier in February. In January, Bolamba health zone reported 12 people who fell ill including 8 deaths."
The WHO's Africa office said earlier this week that the first outbreak was among several children who ate a bat and then died within 48 hours after experiencing hemorrhagic fever symptoms, similar to those caused by the Ebola or Marburg viruses.["Several": the exact number was unspecified.]
Population of Congo:
Apparently it is time for USAID to send a $100 million video to Congo on angers of eating bats.
And perhaps while we're at it, a $100 million video to a certain community in Texas on the importance of measles vaccination.
I'm getting so tired of this crap.
Reading the AP story on General Brown's replacement is just as shameful.
By the way, quick! Tell me General Brown's birth date. Not just the year he was born, but the month and day (and the year).
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The Woman I Most Admire This Evening
Ms Rachel Powell, Venango County, Pennsylvania.
Locator: 48434AMAZON.
Alexa:
If the story is accurate -- it's a bit confusing -- this is a $20/month benefit for Amazon Prime subscribers. Again.
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California Bullet Train
Victor Davis Hanson, in his podcast that streamed on YouTube February 27, 2025, said that the California Bullet Train would eventually cost $300 billion, and has spent $20 billion today. Referenced the Tulare Lake (one of many links here) fiasco. "If you could build the Bullet Train" it would still not make enough money through ticket sales to maintain operations. The host questioned the veracity of that figure of $300 billion and VDH confirmed that was the number he was hearing: $300 billion.
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Pacific Palisades Fire
Things must not be going well. The Los Angeles mayor has just fired the lesbian fire chief. Having said that, I knew her days were numbered from the beginning.
Locator: 48433EPSTEIN.
Epstein list, phase 1: was released today. Over-promised, under-delivered.
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Soros-Funded Networks
I'm not a conspiracy theorist but ....
.... link here.
Along that same line? Bluesky will fade away.
I've never seen such a lame knock-off as Bluesky.
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Trump Administration
From the diary:
February 27, 2025: holds first full cabinet meeting with all cabinet members, yesterday, February 26, 2025. Absolutely steady, rock-solid.
Through yesterday, the first five weeks of his administration, Trump concentrated on a) his cabinet; and on b) general policy executive orders. Now it appears Trump has moved into the second leg of his first 100 days. He is a) concentrating on holding his cabinet members accountable; almost holding first full Cabinet meeting as his "Apprentice" reality show, playing Cabinet members off each other; and, b) concentrating on ending bloodshed in Ukraine and in Gaza. And there are actually folks against Trump on this issue.
The photo optic: SecState - POTUS - SecDefense aligned at the base with VP JD Vance at the apex of that power triangle at the Cabinet table. But the real guest: Elon Musk. One wonders how that makes cabinet members feel? Doesn't matter? That's who their boss likes and one better get on board if one still has any doubts. Trump is not looking for action / decisions / governing through committee and focus groups. He wants to see individual leadership. Kristi Noem seems to understand.
Trump is a whirling dervish at 78 rpm whereas Barack Obama spun at 33 rpm. Biden? A broken record.
Locator: 48432NVDA.
See disclaimer.
This is not an investment site.
Drops 8%. Drops out of the $3-trillion club.
Whether one is an investor or a trader: margins matter.
Most amazing graph ever. Okay, two most amazing graphs ever.
LDC growth, link here:
The size of these arms, link here:
NVDA revenue:
The key to trading: FOMO, YOLO, SA.
The key to investing (perhaps in reverse order):
The importance of diversification:
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Apple
Locator: 48431B.
Burgum: "we're not in an 'energy transition’ environment; we're in an 'energy addition' environment.”
Mexican cartels:
Saskatchewan: pre-approves all pipelines through its territory.
Italy: plans $3 billion aid package due to high energy prices.
Tariffs: to take effect as planned, March 4, 2025 -- President Trump.
WTI: $70.35.
Active rigs: 33.
Three new permits:
One permit renewed:
Four producing wells (DUCs) reported as completed:
Locator: 48430B.
Keeping promises: Trump terminates Chevron's agreement with Venezuela. Great move. Keeping promises.
EU/Europe - Ukraine: FAFO. Best example ever.
RFK, Jr: remains cool, calm, and collected. A refreshing change. Link here.
Tulsi Gabbord: cleaning house.
Trans: Trump administration bans trans from military. That's the headline. Some exceptions.
Gene Hackman, wife, dog: dead in Santa Fe home. He was 95 years old. No foul play suspected.
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Back to the Bakken
WTI: $69.40.
New wells:
RBN Energy: acquisition of Colex Terminal, Sinco Network, open up possibilities for Edgewater. Archived.
Edgewater Midstream, a relatively new player in the refined products storage and delivery space, acquired a pair of potentially valuable assets from Shell in the Deer Park, TX, area in December, 2024. It now owns the Colex terminal, starting point of the all-important Colonial Pipeline system, and the Sinco products pipe network, which could offer another pathway to Desert Southwest markets served by a dwindling number of California refineries. In today’s RBN blog, we will examine Edgewater’s new assets and the market opportunities they may open up.
Let’s start with a short primer on Edgewater Midstream, which private equity firm EnCap Flatrock Midstream owns. The Houston-based company was created in 2019, just before the pandemic. Throughout that period, the company sought potential assets to buy, including those focused on crude oil and refined products, to underpin its business. Negotiations for Shell’s Colex terminal and Sinco pipeline system began in Q2 2024, culminating in a deal that would give Edgewater its first physical assets. The Colex terminal on the Houston Ship Channel (HSC) and the Sinco system were historically operated in conjunction with the 340-Mb/d Deer Park refinery, once a joint venture (JV) between Shell (operator) and P.M.I. Comercio Internacional S.A. de C.V. (PMI), a subsidiary of Mexico’s state-owned PEMEX. That changed in 2022 when Shell sold its 50% stake in the refinery to PMI for $596 million, although it retained the Colex and Sinco assets.
Let’s look next at Edgewater’s new acquisitions, starting with the Colex complex (see Figure 1 below), which includes both an East and West terminal. The complex is the starting point of the 1.5-MMb/d Colonial product pipeline system (blue lines), which transports products from Gulf Coast refineries to markets across the Southeast and East Coast. The Colonial network culminates at New York Harbor, a major market for refined products and delivery point of the NYMEX RBOB gasoline and ultra-low-sulfur diesel (ULSD) futures contracts.
A ransomware attack on the Colonial system nearly four years ago disrupted supply for retail businesses, for weeks in some states, and triggered panic buying across the Eastern Seaboard, underscoring how important the network is for the region’s fuel needs. Besides Colonial, the Colex site feeds directly into the Explorer system (pink lines), which serves the Midwest products market. An interesting tidbit: The facility got its name from cobbling together the first three letters of Colonial (Col) Pipeline and the first two letters of Explorer (Ex) Pipeline. The Colex site is also directly connected to the ITC Pasadena terminal (blue tank icon) along the HSC, which handles waterborne, railed, trucked and piped supplies of petroleum products, NGLs, LPG and liquid chemicals.
Figure 1. Colonial Pipeline, Explorer Pipeline and Related Infrastructure. Source: RBN
