Rube Goldberg -- Remove One Element And The Whole Thing Stops -- August 6, 2026

Locator: 51349RUBE.

Disclaimer: this is not an investment site. This post is for my extended family. This is not for the general readership. See disclaimer down below. 

With regard to the 4th Industrial Revolution, one can't pick and choose.  Don't take this out of context.

*********************************
Disclaimer

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. Now, I've added Amazon. And QCOM.

Longer version here.  

 

Morning Market -- August 6, 2026

Locator: 51348VACAMUERTA.

Updates

WTI: spiking late morning; up over 3%; trading at $77.73. Iran says US-flagged and Israeli-flagged ships will not be allowed to transit the strait. Will we back to $80+ by Monday? If Trump accepts the fact that the strait is closed to America and Israel (this will also be other-flagged cargo with Israel or US destinations), Iran can declare victory, a Pyrrhic victory. 

All indices are now red: midday. 

S&P: to get from 7,700 to 8,000, it only needs to go up 4%.

Original Post 

Vaca Muerta: turns out to be surprisingly good. Link here. 

I track the Vaca Muerta at the sidebar at the right, but haven't updated it in ages. Link here. XOM sold its Vaca Muerta holdings back in 2024. So, this company went out of its way to sue CVX over Hess holdings (and lost) and willingly sold their position in Argentina. Talk about no skating to where the puck will be. Vaca Muerta is now producing 625,000 bopd. 

SPACEX: will build chips in Texas. 

TSLA says Terafab will be built in Grimes County Texas as both it and SPCX prepare for chip demand beyond global supply. The company plans to build “the largest chip manufacturing facility ever” with a goal of producing more than 1 terawatt of compute annually.

Markets:

• Dow: down 330 points:
• NASDAQ: flat
• WTI: up $1.73; trading at $77

Musk:

• SPCX: doing just fine, thank you. Up a couple of bucks after the "unlock."

Natura gas: 

• LNG: up $8 after earnings report.

TECH:

• AAPL: up earlier, now down, less than a $1 
• AVGO: up $6
• TSM: up $8
• AMD: up $9
• AMZN: up $1 

Oil:

• CVX: up $2
• PSX: up $2 
• COP: up $1 -- completed its asset sale ahead of schedule; $1.7 billion non-core lower 48.

New mRNA Flu Vaccine Approved By FDA -- August 6, 2026

Locator: 51347FLUVACCINE. 

Hell must have frozen over. RFK, Jr.,'s agency, the FDA, has approved the first mRNA flu vaccine. From TNYT:

The Food and Drug Administration on Wednesday approved the first mRNA flu vaccine, enabling use of a technology that will make it easier to rapidly target a widely prevalent or particularly virulent strain of the virus. 

Why is this important?

Intergenerational Wealth Transfer -- Update -- August 6, 2026

Locator: 51346WEALTHTRANSFER. 

Tag: wealth transfer intergenerational 

Intergenerational wealth transfer: has now reached $120 trillion over the next 20 years.  Gemini suggests taking an annual "salary" of $70,000, a one-million-dollar inheritance will last fourteen to eighteen years.  

More:

Economy -- The Consumer Is Doing Just Fine, Thank You -- August 6, 2026

Locator: 51345MARKET. 

Futures: futures suggest it's a great time for stock picking traders. 

The consumer is doing just fine, thank you. I consider Burger King and Popeyes Louisiana Kitchen as focused on those consumers in the lower to lower-middle class demographics. 

Intergenerational wealth transfer: has now reached $120 trillion over the next 20 years.  Gemini suggests taking an annual "salary" of $70,000, a one-million-dollar inheritance will last fourteen to eighteen years.  

Dow at record high.

Dow is on pace for best week since June, 2025.

AAPL: right now, three hours from market opening, AAPL is up almost $3/share. 

*********************************
Disclaimer

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. Now, I've added Amazon. And QCOM.

Longer version here.  

Walmart Drone Program -- Update -- August 6, 2026

Locator: 51344WALMART. 

Tag: drones.  

In Texas, generally 40 - 60 deliveries per day. Exact figures not supplied by Walmart.  

Walmart down the street from us has an aggressive drone program. It's been discussed on the blog before. 

 

In addition to Texas, other states with the Amazon drone program:

• Georgia
• North Carolina
• Arkansas
• Florida

Insurance: Progressive Vs Geico -- August 6, 2026

Locator: 51343BRKB. 

Tag: retail insurance 

Link here. 

 From the linked article:

Progressive roared back from a rough patch after the pandemic, becoming the nation’s largest personal auto insurer this year. Along the way, it also generated a mountain of excess capital, paying out a record 2025 dividend to shareholders.

But now the company faces a slight different outlook: a combination of strong profitability and slowing growth. That’s a boon for investors avid for capital returns, but a capital-allocation question for the company.

Progressive recovered faster than its peers from inflationary pressures, nabbing market share and growing plump on higher premiums, analysts say. And it stands apart among insurers for the way it has used variable annual dividends, in addition to fixed quarterly dividends, to distribute excess capital. At the end of last year, Progressive, which mostly sells auto insurance, announced an $8 billion variable dividend, or $13.50 a share, its largest-ever and three times the amount of its 2024 dividend.

Progressive uses variable dividends to return capital after it has considered other uses, such as buybacks and acquisitions, said John Sauerland, the company’s former finance chief, in an interview before he retired this month. When growth slows and margins are wide, the company generates a lot of capital. “Our situation has changed, but our approach to capital has not changed,” Sauerland said.

North Dakota State Legacy Fund -- August 6, 2026

Locator: 51342B. 

Link here. 

 

Trump Shows His Agility, Quick Thinking To Prevent Toddler From A "Biden Fall" -- August 6, 2026

Locator: 51341B. 
Pageviews: 77,643,674. 4:00 a.m., Thursday, August 6, 2026.

Tea leaves: Hegseth will survive politically, but he's not getting Trump's love right now. White House accused Department of Defense lying on status of munitions. 

Discount: link here. 

Potential "Biden fall" averted: link here.  

"Unlocked"!  SPCX up $1.50 before market open. 

AAPL futures:  

Thursday Morning -- August 6, 2026

Locator: 51340B. 

At the end of the day, the "thing" that the current president hates most ... is to be ignored. Iran negotiating with Oman (and not with the United States) may, indeed, be the worst thing Iran could be doing right now. LOL.  

His base: either finish it or get out.  

Hell must have frozen over. RFK, Jr.,'s agency, the FDA, has approved the first mRNA flu vaccine. From TNYT:

The Food and Drug Administration on Wednesday approved the first mRNA flu vaccine, enabling use of a technology that will make it easier to rapidly target a widely prevalent or particularly virulent strain of the virus. 

Irony:

• eating salad could lead to explosive diarrhea, and for some, death;
• eating steak? Well, at least you won't be getting cyclosporiasis. 
• me? I have chorizo for breakfast.  

*******************************
Back to the Bakken

WTI: $74.8.

New wells reporting:

• Friday, August 7, 2026: 19 for the month, 60 for the quarter, 413 for the year, 
• 42090, conf, Phoenix Operating, Big Stone 32-29-20 3H, 
• 41434, conf, Whiting, Jefferson Federal 5003 42-14 4B, 
• Thursday, August 6, 2026: 17 for the month, 58 for the quarter, 411 for the year,  
• 42091, conf, Phoenix Operating, Big Stone 32-29-20 5H-LL, 
• 41983, conf, Murfin Drilling, LC Rambousek 1-9H,
• 41277, conf, Oasis, Stepanek 5201 13-18 4B,
• 41276, conf, Oasis, Stepanek 5201 13-18 3B,

RBN Energy: world-class assets headline BP's return to upstream growth. Link here. Archived.

BP has undergone a series of significant strategic transformations since the Deepwater Horizon oil spill in 2010 tarnished its reputation and nearly crippled its balance sheet. Over the past 16 years, the company has undergone multiple restructurings of its upstream portfolio, interrupted by a shift to — and then away from — one of the sector’s most ambitious energy transition strategies. In today’s RBN blog, we chronicle the upstream evolution of one of the oil and gas industry’s most significant integrated companies.

The Deepwater Horizon oil spill, the most consequential disaster in the history of the oil and gas industry, imposed enormous financial, legal, operational and reputational consequences that lasted more than a decade. The April 2010 blowout killed 11 workers and triggered the largest offshore oil spill in U.S. history, releasing an estimated 134 million gallons of crude into the U.S. Gulf. BP’s financial position and strategic direction were severely challenged as it ultimately faced a combined cost of $61.6 billion in cleanup, settlements, fines and compensation — one of the most expensive corporate disasters ever. The company paid a $20.8 billion civil settlement, a $4 billion criminal penalty, and billions more through private claims programs and restoration funding. Equally important, the company faced a loss of confidence by investors, regulators and other industry participants. 

Survival required significant strategic restructuring that continued over the next decade and a half. We should begin by noting that BP announced in July 2010 — three months after the Deepwater Horizon spill — that CEO Tony Hayward would be replaced by Bob Dudley, a Mississippi native who had already been put in charge of handling the spill as president of the newly created Gulf Coast Restoration Organization. Dudley, the first American to lead BP, focused on stabilization: restoring trust, managing the legal fallout, and rebuilding the company’s reputation. BP concentrated capital in a smaller number of high‑quality developments capable of generating durable returns. By the end of the decade, BP had strengthened positions in the offshore Gulf, Azerbaijan, Oman, Egypt, Trinidad & Tobago, and the Lower 48 — assets that now anchor its upstream portfolio.

BP’s evolution can be summarized in three phases, as shown in Figure 1 below.

How The Average Mom-And-Pop Retail Investor Can Afford Some Of These High-Priced Stocks -- August 5, 2026

Locator: 51339INVESTING. 

This is not an investment site. This is not for general readership; this is for me, and for my extended family members to know how I'm thinking.  

Take a look at this blog. 

On a dollar/share basis (not a p/e per share basis), many of these stocks are priced way to high for the average mom-and-pop retail investor. Here's a solution. Park your "new" money (sales, capital gain, dividends, royalty money, RMDs, inheritances, etc) into ETFs (SCHD, SCHB, SCHG, and IHE, for example) and then when those ETFs accumulate a huge amount of cash and on a "down day" for the market, cash in some of those (or part of those) ETFs and buy these very expensive tech companies. 

I did that and all of a sudden I went from not being able to afford some of these expensive tech companies to being able to buy a share or two. Yes, I know, "slices" are available. "Slices" not for me.  

AAPL: I wasn't paying attention to the market today. So, I just checked. Huge surprise. AAPL closed higher today and it looks like it could go higher tomorrow, albeit not be much. 

*********************************
Disclaimer

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. Now, I've added Amazon. And QCOM.

Longer version here.  

A Short Review Of The Hyperscalers -- August 5, 2026

Locator: 51338HYPERSCALERS. 
Pageviews: 77,042,097. 10:30 p.m. August 5, 2026.

See also: Nvidia's GPUs vs Broadcom's TPUs. 

This is how it started this evening: 

Not only does Amazon need the memory but it also needs the LDCs. So that leads to this question: does Amazon have adequate data center capacity to meet its requirements? The short answer is no.

Google and Microsoft are facing similar problems. A chatbot query will explain how GOOG and MSFT are addressing this issue. It's a long reply so I won't place it here. I'm interested in something else.  

Notice in the lower right-hand corner: $MU $AVGO $NVDA.

One can go down that rabbit hole and be reminded how closely aligned AWS/AMZN and AVGO are.

This has been discussed on the blog previously.

And this leads quickly to this query: 

Musk said recently that Nvidia's GPUs are the best. How do they stack up with AVGO's TPUs? 

The reply: 

That led to this query: 

I know that you would not have any inside information on this, but with the close relationship between Broadcom and Amazon, and the size of Amazon, would it made sense for Amazon to acquire Broadcom, or does the current business model for both make better sense? 

The reply:

This is one of the nice things about chatbots. There is no dumb question. No matter how far-fetched, the chatbot will provide so much more information.

 

On another note, earlier in the blog today, it was noted in an excellent CNBC interview today that a talking head felt that MSFT, GOOG, and AMZN were the premier hyperscalers. Two other hyperscalers: Oracle and SpaceX.

 

Specialize "AI-native" hyperscalers include CoreWeave, Crusoe Energy, and Nebius Group and Lambda Labs.

 

And finally, in a league of its own, a consumer-scale  ecosystem: AAPL (Apple, Inc.).

 

This all helps me sort out where to invest for the grandchildren. 

 

Ticker, AVGO: 

 

For investors, I highly recommend 5-year comparisons for NVDA, AAPL, and AVGO. 

*********************************
Disclaimer

Briefly: 

I am inappropriately exuberant about the Bakken and I am often well out Nofront 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. Now, I've added Amazon. And QCOM.

Longer version here.  

Copper At All-Time Highs; Geo-Political; Huge Trump Effect; Neither SCCO Nor GLW Benefited; No New Permits But Active Rigs In The Bakken Have Jumped To 30 -- August 5, 2026

Locator: 51337B.

BRKB sold all AMZN shares earlier this year. Link here. 

Walmart: "back-to-school" sales are ... simply ... amazing. 

Mideast: if this is where it ends, it's a Pyrrhic victory for Iran. Inviting Oman to join in was simply a "ploy." Trump, of course, definitely knows what is going along, but for a number of reasons he is willing to play along. Fees to transit the strait, apparently, will be "voluntary," about 3% to 10% of value of the cargo. To be determined.   

Copper: high prices due to geo-political events (i.e. Trump) but there are also supply disruptions in Chile, which supplies 20% of global demand. The disruptions are due to weather, not labor, as far as I know. 

Jamie Dimon: CNBC interview -- sounded more bullish than I've generally heard him. Link here.

Chartists: bullish.  

MSFT, GOOG, AMZN: in a good CNBC note this morning, the talking head suggested there are the three "clouds" that have the biggest moat (moat = lots and lots of money). It doesn't seem out-of-line to suggest these three companies are the places to park money for your grandchildren.  Cramer says to buy SpaceX for your grandchildren. I prefer MSFT, GOOG, AMZN and many others before I would purchase SPCX.

For the record: Nvidia makes the best GPUs. Link here. 

Tech memory: something is not making sense. Sandisk in correctio. I have no interest in it but it is very, very interesting. One wonders if state moratoria on LDCs having an effect.  

Human memory: 

***************************************
Back to the Bakken

WTI: $75.07.

Active rigs: 30. Significant jump.

No new permits per se, however one permitted for recompletion:

• 41137, CLR, Shadowcat 1-31H, SESE 31-162-95, Divide County, wildcat; the well was drilled to establish oil production from the Winnipeg formation. Initial production: dry. Winnipeg is an exploratory play; tends to be natural gas than oil.

*********************************
Disclaimer

Briefly: 

I am inappropriately exuberant about the Bakken and I am often well out Nofront 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. Now, I've added Amazon. And QCOM.

Longer version here.  

Testing. … 1 … 2 …. 3 ….August 5, 2026

Locator: 51336CRASH.

AI Overview 

A “spent” SpaceX Falcon 9 upper-stage rocket drifted in an uncontrolled orbit for over 18 months following a deep-space lunar lander mission in January 2025. A mix of Earth's gravity, solar activity, and a lack of remaining fuel eventually pushed the 4-metric-ton piece of space debris onto a collision course with the Moon. 

The Mission and the Drift

The Launch: The Falcon 9 lifted off in January 2025 to carry commercial lunar payloads toward deep space. 
The Upper Stage: While the first-stage booster separated and returned, the second-stage upper body remained in space after delivering the required heavy-thrust energy.
Uncontrolled Orbit: Because deep-space missions require high energy, the spent segment missed standard atmospheric reentry paths and was left floating without fuel or active steering. 

The Impact

The Collision: Astronomers tracked the object as gravitational forces and solar radiation pressure slowly altered its path, leading to an impact near the Moon's Einstein Crater at roughly 5,400 mph (8,700 km/h). 
Safety: Space agencies confirmed the crash posed zero threat to Earth, providing scientists a unique chance to study high-velocity impact dynamics and crater formation on the lunar surface. 

Remember The Disclaimer -- Time To Take A Breath; Consolidate -- August 5, 2026

Locator: 51335AMGN.

Tag: Amgen 

This is not an investing site. We've discussed this before. See disclaimer.

AMGN: chart of the day -- completely unexpected -- 

This particular blog is meant for my extended family. It's not for the general reader. 

With regard to investing: much of the following has been posted before. 

Thoughts:

• after a very volatile, manic two weeks, it's time to slow down, take a breath
• a new month; lots of dividends to digest 
• the word for the day: consolidate -- time to add to your favorite positions
• watch the price of WTI very closely for the next six days
• if everything goes well, WTI will trend toward $60;
• if things go badly, WTI will trend toward $80, if not $90 but I'm not betting on $90 any more 
• it's time for companies like CVX to reward stockholders with a higher dividend or a special dividend -- but I doubt it will happen 
• new money? If you are unsure what to do, park your money in an ETF -- SCHD, SCHG, SCHB, IHE 

*********************************
Disclaimer

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. Now, I've added Amazon. And QCOM.

Longer version here.  

SpaceX Rocket Believed To Have Crashed Into Moon -- August 5, 2026

Locator: 51334SPACEX.

Rivian Update -- Cash Burn -- August 5, 2026

Locator: 51333RIVIAN.

Tag: EVs Rivian RIVN 

 In a sense, same ol', same ol'.

Wednesday -- August 5, 2026

Locator: 51332B.
Pageviews: 76,123,719 pageviews. 7:30 a.m. August 5, 2026.

Hormuz Strait: everyone's waiting.  

Market: seems subdued this morning after yesterday's action.  

Rivian: cash burn continues to be an issue. 

Shortly after the open: 

************************************
Back to the Bakken

WTI: $74.54 and dropping.

New wells reporting: 

• Thursday, August 6, 2026: 17 for the month, 58 for the quarter, 411 for the year,  
• 42091, conf, Phoenix Operating, Big Stone 32-29-20 5H-LL, 
• 41983, conf, Murfin Drilling, LC Rambousek 1-9H,
• 41277, conf, Oasis, Stepanek 5201 13-18 4B,
• 41276, conf, Oasis, Stepanek 5201 13-18 3B,
• Wednesday, August 5, 2026: 13 for the month, 54 for the quarter, 407 for the year, 
• 42089, conf, Phoenix Operating, Big Stone 32-29-20 3H, 
• 42088, conf, Phoenix Operating, Big Stone 32-29 2H,
• 42087, conf, Phoenix Operating, Big Stone 32-29-20 1H, 
• 42078, conf, Silver Hill Energy Operating, K&L Hegstad South W 158-92-10-22-1MBHX,
• 41275, conf, Oasis, Stepanek 5201 13-18 2B,

RBN Energy:  what Williams gains from its acquisition of Momentum Midstream. Link here. Archived.

The Haynesville Shale is the nation’s third-largest natural gas producer, and the onshore play closest to most of the U.S.’s existing and planned LNG export capacity. Those facts make the gas pipelines between the Haynesville and the Gulf Coast critically important — and valuable — assets, a reality Williams Cos. just affirmed with its newly announced agreement to acquire Momentum Midstream for $5.5 billion. In today’s RBN blog, we’ll examine the transaction, two simultaneously unveiled pipeline expansion projects, and what it all means for Williams, Haynesville gas producers and LNG exporters. We’ll also discuss the unusual history of Momentum, a private equity-backed entity now in its sixth iteration in 22 years.

As we said earlier this year in Southbound, the Haynesville Shale in North Louisiana and East Texas is one of the most consequential gas basins in the U.S., especially as LNG exports along the Gulf Coast continue to grow. While the Appalachian Basin is the largest gas producer, and the Permian the fastest-growing, the Haynesville stands out for three significant reasons:

• Its location puts it in a sweet spot, nestled close to Gulf Coast LNG export facilities and well positioned to serve rising power demand across the Southeast.
• Unlike the Permian and Appalachian basins, the Haynesville isn’t boxed in by infrastructure and pipeline constraints. It has spare pipeline capacity (though that does not mean that all the gas can get to the most ideal markets), which means producers can ramp up output in the near term without waiting for new infrastructure.
• The basin is extremely responsive to Henry Hub prices, perhaps more so than any other basin in the U.S. When prices are high, production climbs; when prices are low, it pulls back. That makes the Haynesville one of the country’s most effective swing producers.

Williams already was a leading midstream player in the region before the August 3 announcement that it is acquiring Momentum Midstream (aka M6 Midstream LLC — more on that below) from primary private-equity backer EnCap Flatrock Midstream, Momentum’s management team and other investors for about $3.5 billion of cash and debt considerations and $2 billion of Williams equity. The deal is expected to close later this year.

As shown in Figure 1 below, Williams owns and operates the 174-mile, 1.8-Bcf/d Louisiana Energy Gateway (LEG; yellow line), which runs from northwestern Louisiana to the gas hub in Gillis, LA. LEG finally came online in Q3 2025 after an extended legal battle with Energy Transfer — a scuffle worth a blog in itself. Williams also owns the 10,000-mile Transco system (red lines), which moves vast amounts of gas through coastal Texas and Louisiana, home to a long list of existing, under-construction and planned LNG export terminals (solid, striped and checked blue diamonds, respectively).

Most Interesting Thing I've Read All Day -- August 4, 2026.

Locator: 51331MEMORY.

This may be the most interesting thing I've read all day. On so many levels. 

Would Steve Jobs have seen this coming? I really don't know. It's obvious now. It wasn't obvious one year ago.

Five New Permits; Five Permits Renewed; Three DUCs Reported As Completed -- August 4, 2026

Locator: 51330ARCHIVES.
Pageviews: 75,529,180. 4:15 p.m. CT, August 4, 2026.
 

Tech: if you want to know how the AI build-out is going look at these three tickers today -- GLW, SCCO, and CAT.  Note GLW and SCCO, and now this -- just posted over at x --

**************************************
Back to the Bakken 

WTI: $75.77. 

Right now, this is the word out of the mideast: Iran and Oman will control the strait. Iran controls who gets in; Oman controls who gets out. Iran will have oversight of the entire strait. And each country will charge a fee for safe passage. 

If this is how it ends, one can say, Iran will win with a Pyrrhic victory. If that's how it ends, let's see if the US maintains the blockade on Iran. 

Iran, bringing Oman into the solution, to some extent "legitimizes" the outcome, making it more difficult for Trump to respond militarily. 

By negotiating with Oman (with Pakistan's blessing; with Saudi Arabia's blessing), Iran can delay negotiations for a long, long time. If absolutely no ships are attacked by the IRGC during this period, it suggests the official government of Iran and IRGC are least working together at some level. 

[Later, 9:40 p.m. P.M. -- there are reports that Yemeni Houthis have made a major strike on a Dubai, UAE, industrial area. Trump needs to take note. LOL.This may be his break before the Iran-Oman talks get too far along.]

Active rigs: 28.

Five new permits, #43184 - #43188, inclusive:

• Operator: Formentera Operations
• Field: Larson oil field, Burke County:
• Comments: 
• Formentera has permits for five Pettigrew wells, SESW 9-162-94, 
• to be sited 530 FSL and 1784 / 1924 FWL.

Five permits renewed:

• BR: #32791, Patton 1A TFH, Bailey, Dunn County;
• Stephens DBA SEG Williston (2): two Prattsville Federal permits, Stanley oil field, Mountrail County;
• KODA Resources (2): two Bock permits, Daneville oil field, Divide County.

Three producing wells (DUCs) reported as completed:

• 41955, 1,700, Kraken, Dwyer East 26-35 8H 7H, McKenzie. 
• 41956, 1,551, Kraken, Dwyer East 26-35 8H 8H, McKenzie. 
• 42419, 768, Kraken, Emerson 33-28-21 2H, Williams.