Locator: 48734NVIDIA.
This is truly amazing. And timing was everything.
Trump is playing chess while the rest of the world is playing checkers.
Overnight: NVDA up $6.00. Jim Cramer will go nuts in the a.m.
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CERN
Monday, July 14, 2025
Jensen Huang -- Nvidia -- Allowed To Sell High-End Blades To China -- Breaking News -- July 14, 2025
Devon Energy With Six New Permits; XTO Cancels Seven GBU Permits -- July 14, 2025
Locator: 48733B.
Board of Education, NYT: US Supreme Court ruled today regarding Trump and the Department of Education. I'm not even going to touch that.
Politics: with regard to the current state of politics in the US, I think it’s safe to say the following, personal opinion, only:
- at least fifty percent of Americans do not particularly care for this president;
- the media suggests that upwards of half the president’s own political base is angry with his Attorney General and how she “managed” the Epstein file;
- for conspiracy theorists, this is a great time to note that their leadership (the president and the AG) may know something “they” (the conspiracy theorists) don’t know. Just saying.
- where’s Hillary when we need her? “What matter does this make any more?
- ” Judge Boasberg” has more power than the president
- the US Supreme Court has ruled favorably for the president more times than not, but the rulings are often only “temporary” — which is a nice way to thread the needle; they can come back under a different administration and change their mind; Bleak House.
Fraud at the Fed?
- a lot of folks are wondering why a lawyer running the Federal Reserve was not concerned with a trillion-dollar “cost over-run” on a renovation of the building out of which he works;
- he didn’t act until the president pointed it out over the weekend
- had this been his own renovation project in his summer home in the Hamptons, would JPow have let the “over-run” ride?
Geo-political:
- those Indians commenting on social media with regard to Air India 171 seem to be out of their depth/element when it comes to reading a preliminary aircraft mishap report —
- a report which made it 100% obvious — the actions were intentional — this was not an “accident” —
- Boeing designed an incredible plane with a ten-year history of perfect (?) performance with no “headline” incidents.
- in defense of these semi-literate wanna-be mostly Indian-influencers, even experienced US pilots commenting on YouTube are apparently illiterate when it comes to reading a mishap report;
- a lot of folks would rather blame Boeing engineers than blame questionably trained pilots with unknown motives
AI: if this is a bubble, there’s going to be a huge bang when it pops — the mother of all bubbles
- exhibit A: Mark Zuckerberg’s announcement today;
- exhibit B: CoreWeave’s announcement over the weekend;
Tariffs don’t matter. At least not enough to change one’s investment strategic plan.
- pick your own points, but:
- BRK-B: from April 2, 2025 ($538) to today ($476), BRK-B is down 12%
- S&P 500: April 2, 2025 (5,671) to today (6,269, S&P 500 is up 11%
- AAPL: April 2, 2025 ($224) to today ($209), AAPL is down 7%
- NVDA: April 2, 2025 ($110) to today ($164), NVDA is up 49%
- OXY: April 2, 2025 ($49) to today ($45), OXY is down 4%
- Bitcoin: I don’t even want to go there; biggest loser? Jamie Dimon? And those who followed his advice.
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Back to the Bakken
Active rigs: 29.
Six new permits, #42118 - #42120, and #42122 - #42124, inclusive, #42121 is SWD permit:
- Operator: Devon Energy
- Field: Twin Buttes (Dunn County)
- Comments:
- Devon Energy has permits for six Fredericks East wells, SESW 6-147-91,
- to be sited 869 / 996 FSL and 2251 / 2333 FWL.
Seven permits were canceled:
- XTO: seven GBU Sophia / GBU Sophia Federal permits in Williams County; GBU: Grinnell unified Bakken oil field.
AI: META -- Mark Zuckerberg "ALL IN" -- More To Follow -- We'll Have The Story Later Today -- But This Is Huge
Locator: 48732META.
This is to serve Mark Zuckerberg's "own interests."
July 14 (Reuters) - Mark Zuckerberg said on Monday that Meta Platforms would spend hundreds of billions of dollars to build several massive AI data centers for superintelligence, intensifying his pursuit of a technology he has chased with a talent war for top engineers.
Saying again
- multi-gigawatt ...
- one supercluster will rival Manhattan i size ---
- that's a lot of blades
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Review
Tech:
- AI is tracked here.
Super computers are tracked here. - LDCs are tracked here.
Type of AI data center:
- small (edge / enterprise): ~ 100 TB = 0.1 mega GB
- medium (cloud region): ~ 1 - 10 PB - 1.0 mega GB
- hyperscale (e.g., AWS, MSFT, Google, META, Nvidia): 10 - 100+ BP = 10 - 100 mega BG
1 PB (petabyte) = one million BB = 1 mega GB
1EB (exabyte) = 1,000 PB = 1 billion BG
Real-world examples (2024 - 2025):
- Nvidia's Blackwell-powered AI supercomputer
- tens of thousands of GPUs (Nvidia)
- requires 50 - 100+ PB storage for training LLMs
- OpenAI training GPT-4:
- estimates hundreds of petabytes of data processed across computer clusters
- Meta's AI Research SuperCluster:
- 16,000 GPUS (Nvidia), over 1 EB (billion GP) of storage projected when fully deployed
Bottom line:
- The average modern AI-focused data center—especially for large models—easily exceeds 1 million GB (1 PB) of storage, with hyperscalers using tens to hundreds of petabytes.
OpenAI -- Core Scientific -- CoreWeave -- Denton, TX -- July 14, 2025
Locator: 48731COREWEAVE.
A combination of source material and my comments -- may need to be fact-checked.
CoreWeave Inc. is expanding a data center that is projected to double the electricity needs for Denton, TX, a "suburb" as it were, north of Ft Worth, and near the geographical center of DFW population projected in 2050.
It's near the intersection of I-35 and Texas State Highway 114, already near:
- Texas Motor Speedway
- one of the first Buc-ee's in the area, maybe the state
- where BNSF locomotives are built
- home of a major commercial/industrial airport (not generally used for passenger traffic)
- I've lost the bubble on this one but I believe Ross Perot or Jerry Jones were instrumental in developing this area of north Ft Worth (Ross Perot's bio is fascinating).
University of North Texas is located in Denton, TX.
The site is being developed by Core Scientific Inc. and will be used by OpenAI in Denton, Texas. Last week, CoreWeave announced it would acquire Core Scientific for about $9 billion.
Other data points:
- this facility was focused on cryptocurrency mining before pivoting to AI workloads in December.
- the site will no longer curtail operations when power prices are high — which will increase grid strain.
- energy 24 hours a day,
365 days a year,” Puente said. That challenge will be mitigated by the
addition of backup generators and batteries -- think Elon Musk
- unlike many large projects, the Denton data center didn’t receive local tax exemptions
- officials expect more than $600 million in property and sales tax from the data center expansion, more than double the costs it plans to incur, according to an analysis document seen by Bloomberg. It also anticipates that 135 new jobs will be created
- already being rented by CoreWeave
- Core Scientific’s largest planned project at about 390 megawatts of power
- already utilizing the majority of extra system capacity” in Denton
How big is it?
- it is significantly larger than a traditional data center, but still an order of magnitude smaller than some megaprojects such as Oracle Corp.’s Stargate in Abilene, Texas.
- it will host one of the largest GPU clusters in North America,
- this Denton is a flagship facility.
Manic Monday -- July 14, 2025
Locator: 48730B.
NASDAQ hits all-time high.
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Back to the Bakken
WTI: $68.61.
New wells:
- Tuesday, July 15, 2025: 23 for the month, 23 for the quarter, 453 for the year,
- 41310, conf, Kraken, Bubba LE 14-11-2 1H,
- Monday, July 14, 2025: 22 for the month, 22 for the quarter, 452 for the year,
- 41448, conf, Kraken, Bear Butte 13-12-1 5H,
- Sunday, July 13, 2025: 21 for the month, 21 for the quarter, 451 for the year,
- 41449, conf, Kraken, Bubba 14-11-12 2H,
- Saturday, July 12, 2025: 20 for the month, 20 for the quarter, 450 for the year,
- 40864, conf, Grayson Mill, Martin 32-36 3H,
- 40547, conf, Hunt Oil, Clearwater 157-90-24-25H-3,
RBN Energy: XOM's strategy for Wink to Webster Pipeline enhances control of Permian crude. Archived.
The Wink to Webster Pipeline, operated by ExxonMobil, stands out as the largest crude oil pipeline by capacity exiting the prolific Permian Basin in West Texas.
What makes it even more of a midstream icon is the company’s hands-on management of the entire process, from the production well to the long-haul run to delivery to ExxonMobil’s refineries. In today’s RBN blog, we’ll examine Wink to Webster’s complicated ownership structure, how it connects directly to terminals run by its owners and its destination flexibility.
This is the latest in a series of blogs we’ve written highlighting crude oil pipelines serving the Permian. In Part 1 and Part 3 of this series, we looked at the Longhorn and BridgeTex pipelines, respectively, and what ONEOK has accomplished with these systems since it acquired Magellan Midstream in 2023 (see Tulsa Time). In Part 2 and Part 4, we discussed the EPIC Crude and Gray Oak pipelines, respectively, to the Corpus Christi area, which have both been operating at full capacity. In Part 5, we covered Enterprise Product Partners’ Midland to ECHO (M2E) pipelines. Today, we take a closer look at Wink to Webster (W2W).
As we detailed in Houston Bound, W2W (blue line in Figure 1 below) is operated by ExxonMobil and began commercial service at the end of 2020, transporting oil from Midland, TX — the heart of the Permian’s Midland Basin — to Webster, TX, just south of Houston, and from Webster to Baytown along the Houston Ship Channel. The pipeline’s ownership structure is a bit complicated, so let’s break it down. W2W is owned by Wink Webster Pipeline LLC, a joint venture (JV) initially formed by affiliates of ExxonMobil, Plains All American Pipeline and Lotus Midstream (which was purchased by Energy Transfer in 2023), with MPLX, Delek US and Rattler Midstream joining the JV in August 2019. (Delek controls a 15% stake in the pipeline system, while Diamondback Energy has a 4% interest after its 2022 acquisition of Rattler. Percentages for the other members of the JV have not been disclosed.) In addition, Enterprise announced in January 2020 that it would own a 29% undivided joint interest (UJI) in the pipeline system, represented by its Midland to ECHO 3 pipeline (M2E-3; red line). M2E-3 is often grouped with W2W for capacity and flow analysis — they use the same steel pipe — but is not part of the JV’s legal ownership.
Figure 1. Wink to Webster/Midland to ECHO 3 Pipeline Connectivity. Source: RBN
Together with Enterprise’s M2E-3, W2W can move up to 1.5 MMb/d of crude oil. At the time it came online, W2W doubled the total capacity from the Permian to Houston to 3 MMb/d. We should note that Enterprise converted its Midland to ECHO 2 (M2E-2) pipeline to NGL service (and temporarily renamed it the Seminole Pipeline) in early 2024, so Permian-to-Houston capacity is currently at 2.8 MMb/d. Enterprise is expected to convert the line back to crude service — and it’s M2E-2 name — in Q4 2025, which should push overall Houston-bound capacity back to 3 MMb/d.
RBN Energy: foreign firms step up investments i US production and infrastructure.
The uncertainty and angst spurred by the ongoing trade war doesn’t seem to have dampened foreign companies’ interest in acquiring upstream and midstream energy assets in the U.S. The recent rumor — still unconfirmed — that Mitsubishi Corp. is in talks to acquire Aethon Energy Management’s massive holdings in the Haynesville for a reported $8 billion is only the latest indication that overseas interest may be stronger than ever. In today’s RBN blog, we’ll discuss the latest round of foreign investments in U.S. energy and what’s driving those deals. We’ll also look at the Aethon assets on the block.
European, Asian and Middle Eastern companies investing in the U.S. energy space isn’t a new phenomenon — Canadian investment is common too, of course. But the pace of foreign interest in U.S. assets has been accelerating the past few years, much of it tied to the global LNG trade. Controlling gas production and promising acreage near existing and planned LNG export terminals can give LNG traders and overseas gas consumers greater control over their feedgas supply, help them manage their supply costs, and enable them to hedge against price volatility. Similarly, investors in LNG liquefaction and export assets gain a greater say on how those facilities are managed, as well as a deeper understanding of how that part of the market works.
A few months ago, in American Pie, we discussed the flurry of foreign investment in U.S. energy production and infrastructure in 2023-24. Today, we’ll follow that up with a look at more recent deals, beginning with the potential sale of Aethon Energy Management, one of U.S.’s largest privately held gas producers. Recent reports suggested that Mitsubishi is in “advanced negotiations,” to acquire Aethon, though the Japanese trading giant said in late June that it “has not made any decision that is consistent with the contents of those reports.” (Back in April, it was reported that Abu Dhabi National Oil Co., or ADNOC, was interested in Aethon.)
Figure 1. Aethon Energy Management’s Production Areas and Gas Gathering Lines in the Haynesville. Source: RBN
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