Say What? May 13, 2021

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Three Energy Stocks

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.

Link to Alex Kimani.

The few articles I recall posted by Alex Kimani suggest he and I are on the same page of music. 

The three publicly traded companies:

• Apache Corp: smart hedging strategy;
• Cheniere Energy: pure-play LNG producer;
• Devon: strong earnings + variable dividends

Alex says BofA recently noted three companies with the potential to grow their free cash flow through consolidations or other cost reduction measures:

• Devon
• Pioneer Natural Resources
• EOG Resources

Devon:

• capital (CAPEX) discipline
• no intention of allocating capital to growth projects until demand side fundamentals recover and it becomes evident that OPEC+ spare oil capacity is effectively absorbed by the world markets
• has adopted a variable dividend structure; something Wall Street seems to appreciate
  

Final words re: Devon:

Devon paid an $0.11/share regular dividend and a $0.24/share variable dividend during the quarter, implying an annualized 5.5% yield. Further, the company has forecast a dividend yield of more than 7% for 2021 if current trends hold, illustrating its commitment to return more capital to shareholders in the form of dividends whenever cash flows permit.

Some Wall Street analysts have pointed to the potential for DVN to sport a dividend yield of as high as 8% by year-end.

Another key attraction: Despite the rally, DVN stock remains relatively cheap.

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. 

A Two-Year-Old CLR Well Goes Over 500K BBls Crude Oil, Still Flowing Without A Pump -- Elm Tree -- May 13, 2021

A CLR well with first production only two years ago has gone over 500K bbls crude oil.

The well:

• 33094: MB 1280; 3,043, Sakakawea Federal 14-19H, Elm Tree, t1/19; cum 483K 1/21; huge well; 502K 3/21;

This well and its neighbors are tracked here. 

The Elm Tree oil field is one of the better fields in the Bakken. But then again, there are quite a few great fields in the Bakken.

The MRO Wolf-Fox Pad Wells Updated; They Appear To Have Been Drilled To Depth; Not Completed; Older Neighoring Wells Recently Taken Off Line -- May 13, 2021

The new wells on the MRO Wolf-Fox pad in Moccasin Creek have gone from drl/drl-->drl/NC, suggesting the wells have been drilled to depth but not completed. FracFocus does not provide any frack data. The older wells, four of them, came off line two and three months ago, and remain off line.

The wells are tracked here.

Is Zavanna Bringing The Shepard Wells In Stony Creek Back Online? May 13, 2021

This well has been off line since 5/20. Most recent data suggests Zavanna is bringing this well back on line. The pad this well is on is tracked here.

The well:

• 20111, 718, Zavanna, Wildcat 1-11H, Stony Creek, short lateral, 20 stages, 2.3 million lbs, t8/11; cum 319K 5/20; remains off line 1/21; produces small amount over five days, 3/21; cum 320K 3/21;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	3-2021	5	374	319	620	485	359	51
BAKKEN	2-2021	0	0	0	0	0	0	0
BAKKEN	1-2021	0	0	0	0	0	0	0
BAKKEN	12-2020	0	0	0	0	0	0	0
BAKKEN	11-2020	0	0	0	0	0	0	0
BAKKEN	10-2020	0	0	0	0	0	0	0
BAKKEN	9-2020	0	0	0	0	0	0	0
BAKKEN	8-2020	0	0	0	0	0	0	0
BAKKEN	7-2020	0	0	0	0	0	0	0
BAKKEN	6-2020	0	0	0	0	0	0	0
BAKKEN	5-2020	29	831	819	1426	1560	1114	14
BAKKEN	4-2020	30	1443	1398	1616	1683	1145	91
BAKKEN	3-2020	30	1177	1165	1630	1952	1123	382
BAKKEN	2-2020	23	1147	1107	1492	1761	995	423
BAKKEN	1-2020	27	1244	1226	1442	1416	913	101

From the Breitbart News Desk -- May 13, 2021

From the Breitbart News Desk today:

Federal health officials announced on Thursday, May 13, 2021, that fully vaccinated people don’t need to wear a mask or physically distance regardless of whether gatherings are large or small, indoors or outdoors. This will come as welcome—if overdue—news to many businesses. No one really wants to sit through a concert, a ballgame, or a movie in a facemask. Even shopping was a drag with diminished airflow.

Yet the sudden shift in policy—just over two weeks ago, federal health officials said the vaccinated should still wear masks—will do little to foster confidence in public authorities, whether they are public health officials, central bankers, or those whose jobs should currently be focused on resolving the gas crisis inflicting the southeastern United States. Throughout the pandemic period, the counsel of our public officials has just been too inconstant and unreliable to inspire trust.

Certainly, the Biden administration has done nothing to assist itself in this regard. If anything, its officials have seemed perfectly helpless in the face of the collapse of our gasoline infrastructure this week, warning the public about over-reacting and tut-tutting Americans for "hoarding" gasoline even while gas stations closed down for lack of product. This was, it shouldn't be forgotten, a foreign attack on the economy and security of the U.S. It's as if FDR responded to Pearl Harbor by telling Americans that the harbor would once again be open for business soon enough.

At the same time, President Biden and Treasury Secretary Janet Yellen have decidedly become unreliable narrators when it comes to the economy, insisting that an extra $300 per week could not possibly be a major cause of businesses struggling to find workers despite high unemployment. This defies common sense. In many states, unemployment benefits pay the equivalent of $20 per hour. As a result, a job that pays $30 an hour—the equivalent of over $62,000 a year—really pays just $10 extra. Many people quite sensibly would prefer 100 percent leisure time than 40 hours a week for an extra 10 bucks per hour.

Meanwhile, Fed officials have insisted the inflation seen in Wednesday's Consumer Price Index and Thursday's Producer Price Index will be only transitory, lasting only a few months. But if economists severely underestimated the level of inflation, they may also be underestimating its duration.

Fortunately, several Republican governors have announced that they will end enhanced unemployment benefits early. That should ease both the labor shortage and some of the inflationary pressures — assuming, of course, that the workers can find the gas they need to drive to work.

– Alex Marlow & John Carney
Breitbart News Network

 

That lede:

Federal health officials announced on Thursday, May 13, 2021, that fully vaccinated people don’t need to wear a mask or physically distance regardless of whether gatherings are large or small, indoors or outdoors. 

This was a huge shift -- just over two weeks ago, federal health officials said the vaccinated should still wear masks.

 

One needs to ask the question: why the sudden shift in policy? Nothing changed in two weeks and here we go: the "all clear" sign if one is fully vaccinated.

 

And there's the rub -- if one is fully vaccinated. 

 

My hunch: the sudden shift in policy was made when the data regarding daily vaccination was noted: the vaccination rate is decreasing. Today's "Thursday data" is the worst "Thursday data in ten weeks. The government needed to do something to spur "everyone" to get vaccinated. 

 

Ah, yes, the carrot and/or stick approach. This was the carrot approach. No mask needed if fully vaccinated. Finally, a science-based policy if the vaccine is 100% effective.

 

It's not. 

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HIPAA

And look what's trending on social media now:

HIPPA: wiki.