Shay: AI Semiconductor Value Chain -- January 12, 2026

Locator: 49893CHIPS.

Link here. There are very few analysts that break out "EDGE." See this post.

Six New Permits; Three Permits Renewed; Two DUCs Reported As Completed; Huge Kellogg Ranch Well Reported By BR -- January 12, 2026

Locator: 49892B.

Sherwood: link here. A "Goldilocks" market today?

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Back to the Bakken 

WTI: $59.78.

Active rigs: 23. At recent record low. 

Six new permits, #42635 - #42640, inclusive:

• Operators: Phoenix Operating (5); Enerplus;
• Fields: Grenora (Williams County); Spotted Horn (McKenzie County);
• Comments:
• Enerplus has a permit for an MHA Sandhill wells, lot 4, section 4-149, 94, 
• to be sited 853 FNL and 1022 FWL;
• Phoenix Operating has permits for five Quarne / Quarne Fed wells, lot 4, seciton 2-159-103, 
• to be sited 425 FNL and 1225 / 1345 FWL

Three permits renewed:

• Lime Rock: one State permit; one Kary permit; and, one Emil Veverka permit. The State and Kary permits are for wells in Cabernet oil field; the Emil Veverka permit is for a well in Murphy Creek.

Two producing wells (DUCs) reported as completed:

• 40296, 4,704, BR, Kellogg Ranch 2A TFH, McKenzie County; 
• 40859, 504, BR, Kellogg Ranch 4D-MBH, McKenzie County; 

Well of interest:

• 37663, loc/A, BR, Kellogg Ranch 1B MBH, t5/25; cum 130K 11/25; full production profile, 40,459 bbls over 16 days extrapolates to 75,861 bbls over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2025	30	18552	18532	13144	71838	71212	544
BAKKEN	10-2025	31	17359	17389	11473	63014	62452	520
BAKKEN	9-2025	29	19395	19369	12617	62123	61509	584
BAKKEN	8-2025	28	17673	17670	16571	54465	53907	530
BAKKEN	7-2025	20	16549	16467	15304	47014	46500	492
BAKKEN	6-2025	0	0	145	0	0	0	0
BAKKEN	5-2025	16	40459	40314	4496	123301	122032	1210
BAKKEN	4-2025	0	0	0	0	0	0	0
BAKKEN	3-2025	0	0	0	6654	0	0	0

Apple -- January 12, 2026

Locator: 49891APPLE.

Another partnership: Google and Apple.

Link here. 

Link here. 

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Cellphone Growth

Link here. 

Link here. 

MacRumors link here.

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Meawhile, Breaking Records in Services

Link here.
 

*******************************
Apple, Airlines, and Air Tags

Link here. 

 The 36 airlines listed at the site.

Some Cherry-Picked Tickers -- January 12, 2026

Locator: 49890INVESTING.

Micron:

Link here. Also, Shay here.

I really don't get it. Is Shay Boloor going to break out as this year's best investor?

*************************************
The Cherry-Picked Tickers

 

 

 

Is Costco Losing Its Mojo? January 12, 2026

Locator: 49889RETAIL.

Before we get started, this breaking news, link here: 

Now, back to our regularly scheduled programming.

Costco has been in the news lately. It falls in the "BRK" category for me. With thousands of tickers to choose from ....

Earlier (see this blog) I suggested that of the three things consumers look for (cost, quality, convenience) when shopping from the large, big-name retailers, convenience is the most important. 

Amazon and Walmart pretty much "neutralized" the cost argument. 

Quality is absolutely not a factor at all. Among the three leaders, they all have the same products (with some minor exceptions -- particularly when it comes to beef and wine, where Costco excels -- for the record I can't remember when I last bought beef or wine from Costco). 

It comes down to convenience. 

I would add that buying in bulk to save money is now a "negative" for most folks when shopping, and even if buying in bulk is important, one can out-Costco Costco by shopping at Amazon. Not only can you buy in bulk at Amazon, products are often heavily discounted at Amazon, and one can save even more by subscribing to a product. 

Instead of buying a twenty-weeks-supply of Bounty paper towels at Costco -- paying for twenty weeks all at one time, and then trying to find space at home for all those paper towels -- one can buy one or two rolls at a time at Amazon, have them delivered to your front door, and subscribe -- for which Amazon offers a discount -- and then "set it and forget it." I do that with Clorox cleaning supplies which arrives ever few weeks and I donate to the local elementary school if my wife doesn't intercept them first.

By the way, if one understands human behavior, buying in bulk is the worst way one can save money these days. Amazon subscription is without question, the best way, Especially if using the Amazon Prime credit card and getting another 5% cash back on every Amazon purchase (needs to be fact-checked).  

So, now, more from over the weekend. Regarding convenience and cost. 

Link here. 

E-commerce is growing at a rate of 10% year-over-year for almost all e-commerce retailers -- where, I assume, Gen Z shoppers make up the largest group of consumers.

Link here. 

All retail, not just e-commerce:

Website by number of visits: 

Investors in Costco have the same problem as investors in energy and BRK: they're older investors; have held those stocks for 50 years; and, can't afford to sell the tickers for two reasons:

• capital gains would be formidable; so, they will wait to die and let their heirs take the step-up value and sell;
• for energy, the dividends are worth way more than the underlying value; cost basis is literally zero for many and they're getting 4% (and better) dividends now and compared to their original dividends 50 years ago ...

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The Book Page

The Portable Dorothy Parker. 

Link here. 

Random Look At Two EOG Mandaree Wells In Phaelens Butte -- January 12, 2026

Locator: 49888B.

Both 1280-acre spacing, both laterals run south. 

Over 600K since 9/22:

• 38965, drl/A, EOG, Mandaree 148-0916H, Phaelens Butte, t9/22; cum 619K 11/25; early production profile:

BAKKEN	7-2023	29	21674	21614	33149	32918	32713	205
BAKKEN	6-2023	30	26482	26685	39205	41170	40926	244
BAKKEN	5-2023	31	32329	32351	48412	45550	44880	277
BAKKEN	4-2023	29	29147	29209	43766	43125	42061	252
BAKKEN	3-2023	31	35109	34960	53695	48407	47257	301
BAKKEN	2-2023	28	33772	33738	54394	46341	45646	22
BAKKEN	1-2023	31	41965	42009	71879	58417	57321	345
BAKKEN	12-2022	30	35621	35572	62526	47332	46608	0
BAKKEN	11-2022	30	39757	39668	71506	51719	50577	0
BAKKEN	10-2022	31	37337	37304	67582	46757	43714	0
BAKKEN	9-2022	9	9651	9443	14966	11105	10382	0

Of interest, to the west:

• 40506, drl/A, EOG, Mandaree 0916-04H (sic), Phaelens Butte, t7/24; cum 297K 11/25; full production profile:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2025	30	6427	6369	12804	10034	9995	39
BAKKEN	10-2025	31	3206	3264	9506	4457	4433	24
BAKKEN	9-2025	27	5687	5749	12956	10079	10038	41
BAKKEN	8-2025	31	8272	8332	16051	15011	14960	51
BAKKEN	7-2025	31	11226	11155	17775	24425	24360	65
BAKKEN	6-2025	30	11840	11829	11734	21564	21473	91
BAKKEN	5-2025	31	15377	15364	15302	25239	25155	84
BAKKEN	4-2025	30	10138	10189	13791	12747	12668	79
BAKKEN	3-2025	31	14497	14537	16053	20683	20598	85
BAKKEN	2-2025	28	17617	17646	16153	36127	36038	89
BAKKEN	1-2025	31	22182	22071	18827	38885	38645	240
BAKKEN	12-2024	27	21347	21433	21242	36556	36342	214
BAKKEN	11-2024	30	30798	30698	30369	51213	50842	371
BAKKEN	10-2024	21	25521	25583	28362	34562	34298	264
BAKKEN	9-2024	30	34277	34244	44965	43243	42698	541
BAKKEN	8-2024	31	55821	55827	66486	71850	71322	523
BAKKEN	7-2024	31	2292	2138	2384	2676	2517	158

Personal Reading Program: Summer 2025 And Winter 2025 - 2026 -- Posted January 12, 2026

Locator: 49887WMT.

Link here: 

Ticker WMT:  

• one day:

• one year:

• vs COST, one year: 

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Personal Reading Program

Over at x today:

My 2025 summer reading program: https://milliondollarliterature.blogspot.com/p/2025-srp.html. 

My 2025 - 2026 winter reading program: https://milliondollarliterature.blogspot.com/p/2025-2026-wrp.html.

Word Of The Day -- The Sahel -- January 11, 2026

Locator: 49886SAHEL.

Ticker SCCO: 

• one day:

• one year:

• vs FCX:  

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Word of the Day: The Sahel

The Sahel is a vast, semi-arid transitional zone in Africa, south of the Sahara Desert, stretching from the Atlantic to the Red Sea, known for its grasslands, diverse cultures, and historical empires, but now facing severe challenges from climate change, drought, poverty, political instability, and violent extremism, impacting millions who rely on agriculture and herding for survival.  

It includes parts of Senegal, Mauritania, Mali, Burkina Faso, Niger, Nigeria, Chad, Sudan, and Eritrea, among others. 

Manic Monday -- GOOG Hits $4 Trillion Valuation -- January 12, 2026

Locator: 49885B.

Vern Whitten: arrived yesterday! What a treat. Stand-alone post later. But what a treat. Thank you very much, Mr Whitten.

• a look back on 2025: link here. 
• the start of 2026: link here.

Apple: at least two huge new stories coming out of Apple today. Will post later.

GOOG: hits $4 trillion valuation.  

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Back to the Bakken

WTI: $59.09.

New wells reporting:

• Tuesday, January 13, 2026: 20 for the month, 20 for the quarter, 20 for the year,
• 41293, conf, Hess, GO-Morgan-156-97-1806H-2, 
• Monday, January 12, 2026: 19 for the month, 19 for the quarter, 19 for the year,
• 42031, conf, WGO Resources, Ueckert 1-8, 
• 41363, conf, BR, Sadie IA UTFH, 
• 41195, conf, Hess, GN-Gtundal-158-97-1819H-2, 
• Sunday, January 11, 2026: 16 for the month, 16 for the quarter, 16 for the year,
• 41386, conf, Hess, GN-Stundal-LE-158-97-1819H-1, 
• 40581, conf, KODA Resources, Stout 1831-4BH, 
• Saturday, January 10, 2026: 14 for the month, 14 for the quarter, 14 for the year,
• 41349, conf, Iron Oil Operating, Patten 3-27-15H, 

RBN Energy: non-state midstreamers holding their own on Mexico's gas-pipeline dance floor. Link pending.

In Mexico, state-owned players like Cenagas and CFE continue to play central roles in planning and underpinning the development of natural gas pipelines.