Grayson Mill Getting Ready To Drill Six New Wells On The Pyramid Pad Northwest Of Williston -- October 4, 2025

Locator: 49292B. 

The Bakken never fails to surprise me. 

Earlier tonight I was on my way to looking up something else when I noted that the "very old" Grayson Mill Pyramid pad had six new confidential sites on the pad. When I went to check them out, it turns out the older Pyramid wells have just been taken off line, all four of them, which means just one thing! Grayson Mill is getting ready to drill these new Pyramid wells! Whoo-hoo. I have no dog in this fight -- no mineral rights -- but vicariously I'm lovin' it! 

There is so much more work left to be done in the Bakken.

The maps:

Williston, North Dakota: northwest corner; the "bypass" bisects the graphic below. The Grayson Mill Pyramid well pad is in the far upper left hand corner. Four very old producing wells; six new confidential sites on this same pad. 

Google map / screenshot, northwest Williston, North Dakota; the "new" Williston High School is on the far northwest corner of Williston, northwest by just a few blocks of the original Grayson Mill Pyramid wells:
 

Zooming in on the CLR Pyramid well pad; four older producing wells and six confidential sites on the pad:

The wells:

• 22875, 2,341, Grayson Mill, Pyramid 15-22 1H, Todd oil field, t4/13; cum 306K 7/25; just came off line this month (8/25);
• 22874, 21,884, Grayson Mill, Pyramid 15-22 2TFH, Todd oil field, t3/13; cum 210K 7/25; just came off line this month (8/25);
• 22873, 2,835, Grayson Mill, Pyramid 15-22 3H, Todd oil field, t3/13; cum 395K 7/25; just came off line this month (8/25);
• 22872, 3,091, Grayson Mill, Pyramid 15-22 4H, Todd oil field, t3/13; cum 469K 7/25; just came off line this month (8/25);

 

• 35866, loc/loc, Grayson Mill, Hawkeye 16-21 8H, Todd, 
• 35867, loc/loc, Grayson Mill, Pyramid 15-22 XW 1H, Todd, 
• 35868, loc/loc, Grayson Mill, Pyramid 15-22 6H, Todd, 
• 35869, loc/loc, Grayson Mill, Pyramid 15-22 5H, Todd, 
• 35870, loc/loc, Grayson Mill, Pyramid 15-22 7H, Todd, 
• 35871, loc/loc, Grayson Mill, Pyramid 15-22 8H, Todd, 

A Musical Interlude -- Beach Boys -- Sloop John B -- October 4, 2025

Locator: 49291MUSIC. 

Sloop John B.  

Link here. 

Trump's American Sovereign Wealth Fund -- October 4, 2025

Locator: 49290SWF. 

 Addition: Trilogy Metals; sores 250%, link here.

Sovereign Wealth Fund 

Warren Buffett is passing the nation's investment baton to Trump's American Sovereign Wealth Fund. 

I'll be disappointed if Congress does not have America's SWF bill ready for his signature before the end of the 119th Congress (calendar year 2026). This could easily be Trump's "big bill" rivaling "Obamacare" in terms of overall scope.

Just prior to and during his first term, I often mentioned on the blog that folks were not taking Donald Trump. I had to continually remind myself to listen carefully to what Trump said -- to take him seriously, but not literally.

That brings us to the second term, and Trump's American sovereign wealth fund. 

Donald Trump signed an executive order on February 3, 2025, to begin developing a plan for a U.S. sovereign wealth fund (SWF). A sovereign wealth fund is a state-owned investment vehicle that manages and invests national assets to generate returns. 

Since then:

• a visit to Saudi Arabia, poster child for a national sovereign wealth fund;
• investments in one way or a number of companies or sectors: 
• Intel
• MP Materials
• Lithium Americas
• under consideration:
• US Rare Earth;
• Critical Metals Corp
• Lockheed
• Palantir
• already, budgetary and contractual boosts
• RTX (formerly Raytheon)
• Northrop Grumman
• General Dynamics
• Boeing
• L3Harris Technologies
• indications he may be interested in:
• Big Pharma
• "Golden Dome" missile defense (Star Wars expansion) 
• more "blades" -- Nvidia, TSM, AMD 

AI prompt:

Trump's American wealth sovereign fund. Who would manage such a fund, Secretary of the treasury, or Secretary of commerce, or someone completely different? Would it be run by one of the cabinet directors or Congress? 

AI reply:

Under former President Trump's February 2025 executive order, the Secretaries of the Treasury and Commerce were tasked with delivering a plan for a US sovereign wealth fund, including recommendations for its governance

. The order directed Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to coordinate with the Assistant to the President for Economic Policy to create this plan

While Bessent and Lutnick are developing the plan, there are several possibilities for who would ultimately manage the fund:

• A new government entity. A new company with dedicated employees could be created to manage government assets. This entity could be established by an act of Congress, which would also define its purpose, structure, and powers.
• An existing agency. The fund could potentially be managed by an existing government agency, although the specific agency has not been definitively identified.
• Private fund partners. Trump also suggested the fund could partner with "very wealthy people" in a private equity-style arrangement, where the fund would co-invest alongside private actors. 

The role of Congress

Regardless of how the fund is structured, Congress will likely play a role in its creation and oversight. Any legislation needed to establish the fund or define its structure would require congressional approval. Congress would also be involved in appropriating funds for the fund's operation or designating a separate funding mechanis

Potential managers

In March 2025, reports indicated that Michael Grimes, a technology investment banker, was expected to lead the new US sovereign wealth fund within the Department of Commerce. Grimes joined the Commerce Department after leaving Morgan Stanley, where he had led several high-profile technology initial public offerings.  

Summary of management possibilities

• The Secretaries of the Treasury and Commerce developed the initial plan for the fund.
• A new, independent government entity created by an act of Congress could be established to manage the fund.
• A senior manager within the Commerce Department, possibly Michael Grimes, could be appointed to lead the fund.
• Congress would likely need to pass legislation and appropriate funds to establish the fund and provide oversight.
• Private sector partners could be involved in a co-investment structure.

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Howard Lutnick vs Gina Raimondo

Their operating styles are completely different. 

I see Gina Raimondo as predominantly a politician. Wiki. In her interviews she always seemed to be defending her anti-Big Market bias. She was a regular on CNBC. 

Howard Lutnick: has he ever been on CNBC? Apparently he has become a regular on CNBC but I've not caught any of his interviews. But seeing him in the White House, I have a good feeling for operating style. 

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Disclaimer
Brief Reminder 

Briefly:

• I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
• 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 Bakken, 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. Nvidia is a metonym for AI and/or the sixth industrial revolution.
• I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
• Longer version here.

The "Heavy Oil" Issue May Be What's Driving Up The Price Of Gasoline -- October 4, 2025

Locator: 49289OIL. 

See this link: global energy.

American refineries need a mix of "light" oil and "heavy" oil. This is an old theme on the blog, discussed many times. It would not be an issue if the Keystone XL had been approved by Hillary Clinton. But a lot of water has passed under that bridge, so we can move on.  

A major source of heavy oil for the United States is heavy oil from Mexico and Venezuela.  

AI prompt:  

Heavy oil, particularly from Mexico and Venezuela is becoming more problematic, as in increasing challenges with availability. Are oil traders anticipating a worsening problem or is this simply background noise that we seen in the oil sector, day in and day out.

Seek First To Understand -- Stephen Covey -- October 4, 2025

Locator: 49288DOD. 

Peggy Noonan had an opinion published in today's WSJ. 

Her "theme": SecDef Hegseth was embarrassing. Her "word."

My initial reaction: the same. 

My second reaction: Peggy Noonan was the embarrassing one.  

Upon reflection: not so fast. Maybe I'll post some of own thoughts with regard to SecDef Hegseth but for now this is all I will write:

I've never been in combat, but I've been in combat zones and have the documentation to prove it.

Hegseth has been in combat.

Many of those to whom Hegspeth spoke have not been in combat. Like me, many / most may have served in combat zones but that doesn't mean they've served in combat.

Those in attendance need to be thankful that:

• they were sitting among some of the best Americans they could ever imagine;
• they are part of the best military in the world ... with lots of luxuries they can only imagine.
• one wonders what percent of general officers / flag officers are "dead wood"? The Chairman, Joint Chiefs of Staff knows what I'm talking about. 
• everyone in that audience had their own thoughts / ideas / opinions
• they had an opportunity to reflect on Hegseth's words as well as their own thoughts
• in a combat zone / in a headquarters office general officers / admirals don't often have that luxury -- they're concentrating on other things
• they have a SecDef that has their best interests in mind and is interested in them and is watching out for them; 
• he is not resting on any laurels; he has not yet compromised his principles (even if one does not accept all that he had to say);
• he is unlikely to have sold out to any lobbyists yet

Now, it's time to reflect on what Hegseth said. 

Seriously, parse his speech and determine for yourself where he was wrong.

Women in combat? Two things:

• not all Americans are comfortable with that concept;
• in combat, one doesn't want standards lowered for any reason.

The word "combat": needs to be re-defined.

Just as "grade" and "rank" are equal but different, so is "Viking combat" and Star Wars combat." 

"Old school combat delivered technologically" vs "new school technological combat."

I remember seeing squadrons of uniformed coders / cyber soldiers in fatigues, wondering why they need to be active duty; why can't they be contractors? Don't have to worry about US Army standards. 

For pay purposes, promotion, leadership opportunities, VC and SWC need to be equal.

In a shooting war, VC and SWC require different skillsets.

In addition to "Combat" roles, there are "Combat Support" roles.

Both are equally important. "Combat Support" in this technological age may be more important than "Combat."

In fact, really, really good "Combat Support" may not only save "combat lives" but may also prevent direct combat action in the same place.

Does a sniper need to meet US Army standards? Maybe some "combat" roles need to be contracted outside the military.

Seek first to understand. 

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Drama Queens

Peggy Noonan agrees with me: the military does not need drama queens. LOL. "Nuclear official." Arrested three times for stealing luggage. Looking for nuclear codes?

And, this four-star admiral. Had Biden been re-elected, they would still be serving.

College Rankings -- October 4, 2025

Locator: 49287COLLEGE. 

Link here. 

College rankings. College rankings matter. At one time I did not think so, but I do now. And to some extent it's because there's been a shuffling of the top ten over the past decade. It took a "Trump" presidency to make me pay attention. 

The WSJ didn't start publishing college rankings until 2015 / 2016, so let's look at WSJ college rankings. in 2018 (2017), first:

• Harvard: 1 (2)
• Columbia: 2 (5)
• MIT: 3 (3)
• Stanford: 3 (1)
• Cornell
• Duke
• Yale
• CIT
• University of Pennsylvania
• Princeton University

Most recent, 2026, The WSJ:

• Stanford University
• Babson College -- Massachusetts
• Yale University -- New Haven, CT
• Princeton University -- NJ 
• Harvard University 
• Claremont McKenna College -- California
• University of California, Berkeley
• Columbia University 
• University of Pennsylvania
• Davidson College -- North Carolina
• MIT 
• Bentley University -- Boston metro area
• University of California, Davis
• University of California, Merced
• Harvey Mudd College -- Claremont, CA
• Georgia Institue of Technology, Main Campus
• San Jose State  University 
• Cornell University -- upstate New York 
• Loyola University of Maryland
• University of Notre Dame 

Comments:

• San Jose State and Stanford, through ROTC, have a very close relationship;
• Harvard dropping from first to fifth is noteworthy;
• the number of relatively unknown colleges in the most recent list is very noteworthy.
• more and more a contest between two states: Massachusetts and northern California
• neither USC nor UCL make the top 20 list
• in vast fly-over country, only one makes the list: Notre Dame

New York: I've always wondered why there is a such a paucity of high-ranked schools in New York (state, city) -- the city's likely new mayor explains all that.

Geographically, your preference: New England (New Jersey, Boston, upstate New York, NYC) or the Pacific west coast.  

Stanford: founded by a railroad magnate. Is it time for Trump-Jensen Huang-Gates to start a new STEM university with a first-rate business school to be located in Napa Valley? 

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Claude

Has a great commercial.

Claude: not a worse time ever for a problem. Research it, find it, solve it.

CNBC all day long, except for Cramer, Mike Santoli, and "the judge":  not a worse time ever for a problem. Invest accordingly.

Apple: ICE-Tracking App -- October 4, 2025

Locator: 49286APPLE. 

Apple's ICE-tracking app -- this whole thing has soured me a bit -- maybe a lot --  on Apple / Tim Cook. I'm not sure yet how far down my favorability rating has fallen for Apple. What it is, it's not trivial.

This would apply to almost any tracking app. Remember: this is Apple, the company that prides (no pun intended, but incredibly apt here) itself on privacy and security. I guess "privacy" only goes so far, even for Apple. But it certainly let me on in what Apple thinks of ICE. And Apple remains very, very woke -- which is not a bit surprising. 

I know the Chinese -- huge fans of iPhones -- would love to hear that Apple is willing to put tracking apps on the iPhone. Maybe the Chinese government would get back to recommending iPhones.  

Tracking and doxxing. Synonyms. Doxxing and doxing are both acceptable spellings. I prefer doxxing. Sort of like fracking and fraccing. 

The big question is whether Apple's fondness of doxing has ended or if this just pertains to ICE agents. 

It's Only Just Begun -- The AI Utility Trade - Source -- October 4, 2025

Locator: 49285AI. 

Link here. 

MMF -- Another Large Weekly Inflow -- October 4, 2025

Locator: 49284MMF. 

My favorite chart.

Tag: MMF MMFs 

Link here. 

Per AI:

The highest amount ever recorded (U.S. assets held in money market funds) is about $7.31 trillion as of September 24, 2025 — that’s the latest “all-time high” per ICI.