Friday, November 13, 2020
This Has Nothing To Do With A Chinese Flu Vaccine -- And, Oh, By The Way, This Has Just Begun -- November 13, 2020
I think this election revealed the fallacy of the blue tide; the red state vs blue state; the GOP vs the Dems.
It is very clear that we have moved into the era of haves and the have-nots; the investor class vs the non-investor class. And maybe we've been there for quite some time. I don't know. All I know is that the tea leaves suggest the next four years is going to be incredibly good for the investor class. It's already starting.
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.
There is a meme out there that investors have always done better under a Democratic administration and Warren Buffett strongly supported Joe Biden, as did Bill Gates.
If a Chinese flu vaccine story turns out to be a good story, the market will surge. If the vaccine is delayed, Schumer/Pelosi will pass a multi-trillion dollar stimulus bill. And Pelosi is already looking at mid-terms less than two years away.
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TV+
Well, this is strange.
For $4.99/month it was impossible to not sign up for TV+ -- so I signed up last month.
Today, out of the blue, as William Shakespeare might say, I get an e-mail from Apple telling me that they will refund me the $4.99/month for the months of November, December, and January. They provided a reason why they were being so generous but I did not understand the reason.
I suppose since one can sign up and cancel on a monthly basis, they want me to watch for 90 days, figuring it takes at least 90 days to get hooked.But it is weird. I have to subscribe each month, pay the $4.99, and they Apple will refund me the $4.99.
Reading The Tea Leaves: Hess Sells Interests In Gulf Of Mexico -- November 13, 2020
Hess Corp. reported Friday that it has completed the sale of its 28-percent working interest in the Shenzi Field in the deepwater Gulf of Mexico (GOM) to operator BHP.
“This transaction brings value forward in the current low price environment and further strengthens our cash and liquidity position,” remarked Hess CEO John Hess in a written statement emailed to Rigzone. “Proceeds will be used to fund our world class investment opportunity in Guyana.”
Hess owns a 30-percent stake in the Stabroek Block offshore Guyana. Exxon Mobil Corp. operates Stabroek.
Staggering -- But Not In A Good Way -- November 13, 2020
The lede:
The oil price collapse is depriving Saudi Arabia of US$27.5 billion in oil revenues this year, Saudi Crown Prince Mohammed bin Salman said on Friday, admitting that the current oil income is not enough to cover the Kingdom’s salaries bill.
Data points:
- one year ago, Saudi forecast 2020 revenue at $222 billion (US)
- $137 billion (US) from oil
- in fact: 2020 oil revenue, $109 billion (US)
- annual budget:
- salaries: 504 billion riyals ($137 billion)
- capital spending: 173 billion riyals ($40 billion)
- social security benefits: 69 billion riyals ($20 billion, rounded)
- operation and maintenance: 140 billion riyals ($37 billion)
- total: 886 billion riyals ($236 billion)
- so:
- tripling the value-added tax (VAT)
- reducing payouts to poorer households
- discontinuing cost-of-live allowances for state workers
- no mention of the $75 billion dividend paid by Saudi Aramco
- no mention of cost of imports on which the kingdom relies
- but look at this: Fitch Ratings
- Saudi Arabia's long-term foreign currency Issuer Default Rating (IDR): NEGATIVE rating
A Closer Look At A Hess BW-Spring Creek Well In Cherry Creek -- November 13, 2020
The well:
- 28088, drl/A, Hess, BW-Spring Creek-149-99-12-1H-4, Cherry Creek, t--; cum 41K 9/20; a 32K month;
Recent production:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 9-2020 | 30 | 31972 | 32060 | 50332 | 68419 | 26875 | 41465 |
| BAKKEN | 8-2020 | 5 | 8712 | 8374 | 8615 | 13100 | 1985 | 11101 |
FracFocus:
- fracked 7/14/20 - 7/27/20; 8.976 million gallons of water; typical frack in the Bakken; 87.5% water by mass;
From the file report:
- spud date: April 24, 2020
- cease drilling: April 3, 2020
- original wellbore: 15,972' MD
- sidetrack 1: 21,548' MD
- logging services began March 27, 2020, 7:39 a.m.CT
- KOP reached at 10,660' MD on March 27, 2020, 9:21 p.m. CT
- curve: began on March 29, 2020, at 2:15 a.m. CT
- curve landed at 10:47 a.m. March 29th, 2020; holy mackerel!
- lateral began at 12:06 p.m. CT on March 31, 2020
- 10' target centered 15' below the top of the middle Bakken;
- a lower Bakken shale strike occurred at 15,972' MD on April 1, 2020;
- pulled back; sidetrack began;
- lateral cease drilling at 21,548' MD on April 3, 2020 at 6:53 p.m. CT; quite incredible;
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