The Million Dollar Way (The Bakken Oil Blog): 06/08/26

Monday, June 8, 2026

Four New Permits; Three Permits Renewed -- June 8, 2026

Locator: 50943B.

WTI: $90.40.

Active rigs: 28.

Four new permits, #43009 - #43012, inclusive:

Operators: Hess (3); Murfin Drilling
Fields: St Anthony (Dunn County); Antelope (McKenzie); Hawkeye (McKenzie)
Comments:

Murfin Drilling has a permit for a Kinzel well, SWSW 33-141-96;

to be sited 350 FSL and 820 FWL;

Hess has permits for two AN-Melby wells and one HA-State well; all three WNW 15-152-95,

to be sited 930 / 1029 FL ad 1210 / 1211 FWL.

Three permits renewed:

True Oil, three Erie Federal permits, lot 3, section 3-147-101, Bowline oil field, McKenzie County.

Keep This On Your Radar Scope: Nebius -- Hyperscale Competing With Amazon (AWS) And Microsoft (Azure) -- June 8, 2026

Locator: 50942NEBIUS.

Query:

Put this in perspective: "Nebius has announced an investment of £1.7 billion to build out capacity in the UK with three new deployments of NVIDIA infrastructure.The three new sites will deploy the latest generations of NVIDIA’s full-stack, end-to-end AI factory platform technology and combined will reach 65 MW when fully ramped up in 2027." How does this compare with AWS or Azure in the US?.

Summary of reply below: US hyperscalers (AWS, Azure) are building intercontinental railroads; Nebius is building a freight terminal.

Reply:

A likely acquisition target some day.

Oracle --- Update -- June 8, 2026

Locator: 50941ORACLE.

Tag: tech chips AI LDC LDCs

From Yahoo!Finance, morning brief:

There's a specific reason for posting this note.

For investors looking to assess the state of the AI trade whether demand in the cloud space is holding up, look no further an Oracle's (ORCL) fiscal fourth quarter earnings on Wednesday.

While Larry Ellison's Oracle saw an extended down period through the first quarter of the year, the company is now up 12% year to date, and Deutsche Bank analyst Brad Zelnick said demand for its services should remain healthy as the AI boom keeps accelerating.

"Demand for AI infrastructure has driven a real inflection in public cloud revenue and backlog growth, enabling long-standing leaders to reaccelerate off an increasingly large base," [Deutsche Bank analyst Brad] Zelnick wrote.

The stressor to watch for companies like Oracle, Zelnick warned, is the "upfront costs required to massively scale new capacity to meet demand" — increasingly financed not through cash flow but debt markets. [Google may have been one of the first to scare the market in issuing more stock to raise cash.]

The five major hyperscalers issued roughly $121 billion in US corporate bonds in 2025, more than four times their 2020–2024 annual average of $28 billion. In 2026, that figure is projected to reach $175 billion, per Bank of America, with Oracle the largest issuer in class.

Major debt issuance isn't necessarily a problem so long as the industry's massive AI investments ultimately produce returns that justify the growing leverage burden. The risk, of course, would be that demand dries up, leaving these companies over-leveraged without the revenue to support them [i.e., a bubble that bursts].