Locator: 51743HAMM.
Page views: went over 106 million page views earlier this evening.
US oil equities fall: it's amazing how volatile shares in oil companies (CVX, COP, PSX, etc) are considering the state of affairs and that WTI is still above $102. Six months ago pundits were talking about $40-oil and now we're talking "higher for longer," and we're at $102. One gets the feeling that the pundits don't think that "$102" can last more than six months.
I can't talk about energy stocks, but there certainly seem to be a lot of good opportunities in other sectors of the stock market.
Today on CNBC in a long and fascinating interview, a "Mr Ron Baron" spent a lot of time on his #1 holding, SpaceX. One may want to query who Ron Baron is and whether the billionaire Ron Baron has ever invested in Amazon. From Forbes some years ago (2022):
Missed opportunity: Ron Baron has stated that failing to invest in Amazon back in 1999—when he met with Jeff Bezos to pitch a partnership with Sotheby's—was a major error.
Venezeula / Continental Resources: link here.
Continental Resources signed a memorandum of understanding withVenezuela's state oil company PDVSA on Wednesday to operate and develop the Ayacucho 2 Block in the Orinoco Belt, the company announced, with an estimated 30 billion barrels of resource in place across roughly 126,000 acres in Anzoátegui state.
The two sides intend to advance a long-term Contrato de Participación Productiva agreement in the coming weeks; once it's signed, Continental will operate the block with a 100% working interest.
Venezuela / XOM: also in talks to return to Venezuela.
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Back to the Bakken
WTI: $102.20.
Active rigs: 34.
Four new permits, #43306 - #43309 --
- Operators: White Rock; Devon Energy (3);
- Fields: Wildcat, McKenzie County; Buford, Williams County;
- Comments:
- White Rock has a permit for a wildcat, NWNE 17-146-99;
- to be sited 290 FNL and 2089 FEL; spacing unit, sections 17 / 20 / 29 / 32 - 146-99;
- Devon Energy has permits for three Buford wells, lot 2, section 3-152-104;
- to be sited 329 / 331 FNL and 1675 / 1765 FEL;
Four permits renewed:
- XTO (4): four Ruby State Federal permits; Grinnell, McKenzie County;
One permit canceled:
- 40940, Five States Operating Company, BC 1-22H, Stark County.
No DUCs reported as completed.
