Now, For The Damages -- July 25, 2021

This story was published some days ago, in The Williston Herald, but for some reason I never posted it.

Posted now.

Last year the North Dakota Supreme Court upheld a lower court decision in the Wilkinson’s disputed mineral rights case that the state no longer has any claim to any minerals under Lake Sakakawea that lie outside the historical Missouri River channel.

But it also sent the case back to the lower court in Williams County, to consider damages.

Judge Paul Jacobson did just that on Thursday and Friday, hearing testimony from Wilkinson family members about their struggle to regain minerals that official records show the family retained after Lake Sakakawea was flooded in 1958.

To catch up on the story, see the tag,  "high water mark" or "riparian," although the latter was seldom used.

I considered this story the most egregious story to have come out of the Bakken up to that time, and I'm not aware of any story that is more egregious to this day. This was a "land grab" by the state, pure and simple; fortunately the court agreed.

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Whistle Register

Something to share with the oldest granddaughter who knows so much about music. I don't know if she knows about this, the whistle register.

At wiki.

For Investors Only -- Nothing About The Bakken -- July 25, 2021

Global investors: $1 trillion invested in US funds in 1H21, a record amount. Link to The WSJ. Some numbers rounded. 

Investors world-wide have funneled more than $900 billion into U.S.-domiciled mutual and exchange-traded funds, on a net basis, during the first half of the year. 

That is a record in data going back to 1992 and is more than investors have put into funds elsewhere around the world combined during the first two quarters of 2021.

This is just "mutual funds and ETFs ." Doesn't include other equities. Much more at the link. When you look at the American indices and the German index, imagine you are a German investor and not an American. My hunch: American mom-and-pop retail investors are doing a lot better than professional Germany money managers.

Previously posted:

Amazing graphics:

Graphic above:

• A: trajectory when folks thought we were coming out of the pandemic; extend line A and we're easily at 36,000 for the Dow;
  
• B: trajectory when vaccinations slowed down; and delta variant emerged
• C: trajectory not seen; when delta variant concerns dissipate, probably beginning in October, 2021;

The graphic that absolutely amazes me: 

Someone is reading the blog. From Bloomberg via Yahoo!Finance today:$17 trillion "on the sidelines.

In the stock market, the refusal of retail investors to back down from every macro threat has become the only story. When will it end? Judging by the size of all the pools of cash lying around, it could be a while.

Among all the economic stories of the pandemic, the one about money piling up in people’s accounts has been the most significant in the stock market, where the S&P 500 just notched its seventh gain in nine weeks. Money market accounts, viewed in some circles as a “dry powder” reserve for equity deployment, sit at just under $4.5 trillion. A more obscure balance, the Federal Reserve’s count of money on deposit with commercial banks, has risen 33% from 2019 to $17 trillion.

While none of the money is completely unencumbered and professionals tend to hate the concept of “cash on the sidelines,” something is arming the day-trader cadres who seem bent on letting no market selloff last more than 24 hours. Take Monday, for example, when fears the delta variant would upend progress sent the S&P 500 down as much as 2.2%. Dip buyers ran to the rescue then and the rest of the week, sending the S&P 500 higher by almost 2% through Friday, despite virus cases still spiking.

Whiting's S-Bar And Satterthwaite Wells In The Sanish

The wells:

• 37083, conf/producing, Whiting, S-Bar 11-7HU, Sanish,

Date	Oil Runs	MCF Sold
5-2021	4344	2510

• 37082, conf/producing, Whiting, S-Bar 11-TFHU, Sanish,
  

Date	Oil Runs	MCF Sold
5-2021	2549	1521

• 24264, AB/1,253, Whiting, S-Bar 11-7H, Sanish, t3/13; cum 159K 12/19 
• 24263 AB/503, Whiting, S-Bar 11-7-2TFH, Sanish, t3/13; cum 106K 12/19

• 17964, 571, Whiting, Satterthwaite 11-7H, Sanish, t6/09; cum 190K 3/21;
  

• 21252, 690, Whiting, S-Bar 11-7TFH, Sanish, t2/12; cum 113K 3/21;

• 36862, conf/drilled/awaiting completion, Whiting, Satterthwaite 13-7-2H, Sanish, spud, December 16, 2019; TD, December 22, 2019;
• 36863, conf/drilled/awaiting completion, Whiting, Satterthwaite 13-7XH, Sanish, spud, December 24, 2019; TD, December 30, 2019;
• 18965, AB/1,264, Whiting, Satterthwaite 13-7H, Sanish, t9/10; cum 246K 12/19;
  

• 21935, AB/812, Whiting, Satterthwaite 14-7TFX, Sanish, t5/12; cum 122K 2/20;
  21936, 1,443, WHiting, S-Bar 14-7XH, Sanish, t5/12; cum 188K 12/19; but back on line 5/21; for four days; 
• 21937, AB/813, Whiting, S-Bar 14-7TFX, Sanish, t5/12; cum 112K 2/20;
  
• 36895, conf/producing, Whiting, Satterthwaite 14-7HU, Sanish,
  

Date	Oil Runs	MCF Sold
5-2021	60	0

• 36896, loc, Whiting, Satterthwaite 14-7TFHU, Sanish, 
• 36897, conf/producing, Whiting, Satterthwaite 14-7XH, Sanish,
  

Date	Oil Runs	MCF Sold
5-2021	65	0

The Niemitalo Wells

Locator: 10010NIEMITALO.

The wells:

• 18481, 2,672, Whiting, Niemitalo 12-35H, Sanish, t5/10; cum 637K 5/21; cum 662K 4/22; cum 669K 7/22; cum 694K 1/24;
  
• 17575, 3,260, Whiting, Niemitalo 11-35H, Sanish, t3/09; cum 703K 5/21; cum 715K 4/22; cum 717K 7/22; cum 723K 1/24;
  
• 19502, 2,720, Whiting, Niemitalo 31-15XH, Sanish, t2/11; cum 511K 5/21; cum 513K 6/21; off line 7/21; cum 519K 1/24;
  
• 32624, 891, Whiting, Niemitalo 11-35H-2H, Sanish, t11/19; cum 244K 5/21; cum 307K 4/22; cum 318K 7/22; remains off line 7/22; cum 380K 1/24;
  
• *** 22710, 615, Whiting, Niemitalo 24-13H, Sanish, t1/13; cum 421K 5/21; cum 451K 4/22; 460K 7/22; cum 499K 1/24;
  
• 32124, loc-->loc/NC, Whiting, Niemitalo 31-15-2XH, Sanish, no production data, 7/22; cum --;
  
• 32123, 982, Whiting, Niemitalo 31-15-3XH, Sanish, t--; cum 60K 7/22; cum 195K 1/24; stimulated 3/15/2022; 30 stages; 247,847 bbls fluid; proppant - 10,686,340 lbs;
  

See the update here. 

32123 loc-->conf, Whiting, Niemitalo 31-15-3XH, Sanish,

Date	Oil Runs	MCF Sold
7-2022	17586	18532
6-2022	19598	17932
5-2022	22411	15526

Breaking On Twitter, Elsewhere -- July 25, 2021

Peak viewing hours, Sunday afternoon, 3:00 p.m. CT for the Olympics:

• table tennis (ping pong); and,
• men's basketball, France vs USA; we already know the outcome of this one; first Olympics basketball game since 2004 that the US has lost; 

Any question why viewership is down; a 33-year low.

Olympics:

• US men's basketball: loses first game in Olympics since 2004; lost to France
• tennis: world's #1 loses (and is out) to world's #48
• US women's gymnasts: one point behind Russia in qualifying; team looks vulnerable; 
• good for her: Naomi Osaka wins her opening match; moves on; earlier she had skipped the French Open and Wimbledon;
  

Schlumberger:

• to drill thirteen exploratory wells of Libya; link here;

GasBuddy:

• weekly US demand reaches new 2021 high; bests week ahead of July 4, 2021; link here;
• weekly (Sunday - Saturday) US gasoline demand set a new 2021 record, rising 2.3% from the prior week and was up 3.1% vs the four-week average; weekly demand was 0.6% higher than the week ahead of July 4 (week of 6/27)

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The Grandsons -- Portland, OR

This is Judah. 

Local church music director.