Murex With Two New Permits -- Thursday -- February 11, 2026

Locator: 49970B.

Global economy: Trump has been predicting this for quite some time -- global economy on fire! Japan stocks extend post-election rally with Nikkei 225 breaching 58,000 for the first time.

Tariffs: revenue soars more than 300% as US awaits Supreme Court decision.

Jobs: surprisingly strong January growth -- but nattering nabobs of negativity continue to question the data -- want to see another month's worth of data -- it gets tedious. 

Bill Ackman: Meta, Amazon, Hertz.  

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Back to the Bakken 

WTI: $64.96.

Active rigs: 26.

Two new permits, #42707 - #42708:

• Operator: Murex Petroleum Corp
• Field: Tioga (Burke County)
• Comments:
• Murex has permits for two MS wells -- MS-Opdal and MS-Karen Sue, lot 4, section 31-159-94, spacing unit, sections 31 - 32:
• to be sited 400/430 FSL and 360 FWL.
• a pad is already located there, with #41408 and #41409;
• no producing wells of interest in the immediate area; a couple of miles away, some mediocre wells; many operators in this area.

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Random Look At Area Of Activity

Several miles away from area noted above. South of Beaver Lodge, north of the river. 

Cramer's First Ten Minutes -- El Paso FAA Ban Lifted -- Wednesday, February 11, 2026

Locator: 49961CRAMER.

WTI: up $1.59; trading at $65.55.  

Before the open: holy mackerel! 

• AAPL: up 57 cents 
• CAT: up $13.63
• GEV: up $30
• Micron: up $22 -- top gainer in the S&P 500 this morning
• NOG: up 36 cents
• SCCO: up $7
• AMD: up $2.51
• GLW: up $2.91
• NVDA: up $2.90
• ORCL: up $3.64

TSMC: hit an all-time high today; $50 billion away from "the $2-trillion club." Evan.

Mattel: worse day in its history (market, share drop) 

Cramer is off for the week.

At the open: it's going to be huge. Profit-taking by the close. 

US stock futures jump. Jobs reports was a stunner -- in a good way!  Blockbuster! Huge revision on the upside. 130K vs 55K. Way better than expected.

Unemployment rate drops from 4.4% to 4.3%. Average hourly earnings actually drops a bit. No wage inflation. Steve Liesman is confused. Probably greatly upset. Steve Liesman says "take the numbers with a grain of salt." Global GDP will take off; led by the US. CNBC is having trouble saying these are good numbers. Steve Liesman says we need to wait for another sample. It gets tedious. LOL. NYTimes jobs report here. Incredible amount of good news, surprising news.

LYFT: oh-oh. LYFT drops 16%. Earnings report: every number great except rides which dropped significantly. 

Robinhood: continues to fall. But all brokers fell yesterday. 

Vertiv Holdings: a $7-stock four years ago; today -- $235. Cooling services for large data centers. Last company mentioned on this page: link here. Alphabet's cooler. 

El Paso: all flights to El Paso stopped for ten days due to security reasons. FAA. No explanation. No rumors. Crickets. One of three top stories on Cramer's first hour. Do we get more information? Fallout from Venezuela / Maduro story? Breaking! FAA lifts the ban -- it was in effect for less than 24 hours. Later: due to Mexican drug cartel drones; neutralized by US DOD/DOW.  Something tells me this could be pretext for President Trump to take more decisive action with regard to Mexican drug cartels. At a minimum, the Mexican ambassador to the United States will be visiting with select members of the Trump administration. Party balloons? My hunch: more to the story.

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Nebraska? 

No wonder Warren Buffett liked Nebraska. 

Link here. 

GPUs Vs TPUs -- Broadcom Vs Nvidia -- February 11, 2026

Locator: 49957TPUS.

Broadcom vs Nvidia, at Barron's: link here. 

Wednesday -- February 11, 2026

Locator: 49955B.  

Climate change / global warming: The Washington Post supports Trump's / EPA's decision. My hunch: Obama's fanaticism was going to significantly impact the fourth industrial revolution -- satellites and terrestrial large data centers. 

North Dakota: doesn't often get mentioned by Liz Ann Sonders , link here --  

Clickbait: but lots of information regarding US LNG. Link here. It's the usual suspects; the big story here is the dominance of US energy -- 

• ChatGPT: says it is Cheniere (LNG); and,
• Gemini: says this -- 

Without question, The Merchant was referring to Cheniere (LNG).

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Back to the Bakken

WTI: $65.34. Iran:

• once the Olympics are over;
• once the second a/c is in the region

New wells reporting:

• Friday, February 13, 2026: 20 for the month, 73 for the quarter, 73 for the year,
• 41353, conf, Hess, GO-Beck Living TR-156-98-2017H-2, 
• Thursday, February 12, 2026: 19 for the month, 72 for the quarter, 72 for the year, 
• None.
• Wednesday, February 11, 2026: 19 for the month, 72 for the quarter, 72 for the year,
• 41240, conf, Hunt, Clearwater 157-90-13-12H-2, 
• 41239, conf, Hunt, Clearwater 157-90-13-12H-1, 
• 41005, conf, Hunt, Palermo 156-90-2-31H-2, 

RBN Energy:  mom-and-pop shops remain the heart of the retail propane industry. Link here. Archived.

The retail propane market delivers about 9 billion gallons to U.S. consumers each year, with its heart anchored in the “mom-and-pop” retailers serving rural and small-town communities. These small, owner-operated businesses — the backbone of the market — know their customers, regions and their challenges, which is a key reason the propane industry is thriving and has avoided the sweeping consolidation seen in so many other sectors of the small-business economy. In today’s RBN blog, we’ll examine why the small-business model has been so durable and effective in retail propane, and why the industry has seen relatively little large-scale consolidation.

In the past few weeks, the retail propane market has navigated a challenging stretch and emerged remarkably well. Winter Storm Fern hit parts of the country with some of the toughest conditions in recent memory, as bitter cold drove high demand and snow and ice made transportation very difficult. Plus, there were freeze-offs and refinery issues cutting into supply. We can’t publish a propane blog so soon after the storm without acknowledging the industry’s strong performance under pressure. The industry deserves kudos for a job well done, but it’s not quite spring yet. There is still some winter left.

We’ve written a lot about the propane industry and its structure in recent months. In Part 1 of our propane series, we outlined the journey of propane from wellhead to burner tip and discussed the various segments of the domestic market, including industrial, petrochemical, commercial, residential and agricultural demand. The wholesale-to-retail value chain starts at processing plants and refineries (left column of Figure 1 below), where propane is extracted and often placed into underground storage. In Part 2, we detailed the role of wholesalers (middle column), the companies that sell propane to retailers by aggregating supplies, operating logistics networks, trading physical volumes, and other supply functions. Wholesalers help move propane through pipelines and railcars to retailers (right column), which range in size from small, owner-run operations serving a local market to companies with fleets of railcars and dozens of supply points. In Part 3, we outlined retailers’ roles and functions in the market. 

Today, we take a deeper look at propane retailers and why even smaller and midsized operations have been able to thrive without the large-scale consolidation seen in many other markets. (All these topics and more are discussed in detail in our Propane Master Class Encore, which is now available online. Much more on what’s included in the class below.)