Odds And Ends -- June 23, 2022

FEDEX: for those who missed it -- 4Q22 earnings here. Incredible report considering all the headwinds. And incredible guidance. 

Revlon: files for bankruptcy protection. The "wave" is just beginning.

Hiatus: link here. 

Hiatus: I'm trying to back away a bit, also, but it's difficult. Too much is happening. I am ignoring the market to the extent possible. But accumulating shares, sticking to plan. 

Buffett: link here.

Oil at $63. Holy mackerel. Again, an open book test.

They're reading the blog: earlier today -- or was it yesterday -- I asked rhetorically whatever happened to Biden's plan to jump-start the US semi-conductor sector. I had not seen a thing. Now this, link here. This is absolutely amazing: my twitter feed keeps telling me how great the DEMS are and here we have the US Congress unable to get their act together. Truly amazing. For those who have forgotten, the DEMS control the White House and the US Congress, both houses. 

 Much, much more. But we will have to wait until tomorrow. Going to take a break.

Weekly Petroleum Inventory Data Supplied By API And SeekingAlpha -- June 23, 2022

Link here:

Shares of energy companies fell sharply on Thursday, again sitting at the bottom of the S&P 500 leaderboard, as signs of slowing consumption sent oil prices sliding to six-week lows. 

U.S. crude oil futures (CL1:COM) closed -1.8% to $104.27/bbl, the lowest since May 10, after the American Petroleum Institute estimated U.S. crude inventories surprisingly increased by 5.6M barrels for the week ending June 17, underscoring concerns about demand destruction.

The Energy Information Administration delayed the release of its weekly report on oil inventories due to problems with its systems; analysts were forecasting a 1.2M-barrel drop in crude inventories and an 800K-barrel decline in gasoline stockpiles.

U.S. natural gas futures (NG1:COM) settled -9% to $6.239/MMBtu, the lowest closing price since April 6, as stockpiles showed a bigger than expected build of 74B cf during the week ended June 17.

Germany's government moved closer to rationing natural gas after Russia cut deliveries in an escalation of the economic war triggered by the invasion of Ukraine.

Oasis With Six New Permits; Forty-Four Active Rigs -- Sailing -- June 23, 2022

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Back to the Bakken

NDIC map update: not yet on line. Goal had been to have it up and running June 14, 2022.

 

WTI: not even going to look.

Active rigs: 44 or thereabouts.

Six new permits, #39049 - #39054, inclusive:

• Operator: Oasis
• Field: Tobacco Garden (McKenzie County)
• Comments: 
• Oasis has permits for six Bergem wells in SWSE 33-151-99; 
• to be sited 270 FSL and between 1913 FEL and 2078 FEL; 
• I believe all six wells will be spaced at 1920-acres: sections 33, 28, and 21.

Three permits renewed / reinstated:

• Enerplus: an Aldabra, a Loggerhead, and a Ridley permit, all in McKenzie County

Eight permits canceled:

• Whiting (7): seven KCH Murphy wells in Mountrail County;
• R360 Williston Basin, LLC (410): SWD

QEP transferred four wells to Oasis:

• 22880, Bert, McKenzie,
• 24685, G. Levang, McKenzie,
• 29327, Jones, McKenzie,
• 30607, Boggs, McKenzie,

Kroger -- Dividends -- June 23, 2022

Update

Later, 4:46 p.m. CT: see this link -- the new dividend rate will be 26 cents. I'm sure glad I post the links.

Original Post

Someone may want to fact check this.

MarketBeat  says KR has increased its dividend to $1.04 and is now yielding 8.79%. KR is Kroger, a grocer.  --- Wrong, see above. 

Kroger paid 18 cents in 2020 and early 2021, and then in late 2021, increased the quarterly dividend to 21 cents. 

Ticker KR: 

• up 1% tooday
• previous yield: 1.76%
• new yield: 8.8% -- wrong -- see above.
• trading at $47.82
• 52-week high: $62.78
• 52-weel low: $37.26

Am I looking at the same company? The same "KR"?

Inflation? What Inflation? McDonald's Advertising On-Line French Fries At $1.00 -- June 23, 2022

Suggestion: McDonald's has all the data. My recommendation: skip the "small, medium, and large" portions of French fries. Have one size. One size. Period. One size, and price it at the medium or large price, and make the size no bigger than medium. 

The Sports Page

PGA: No clear franchise player. Maybe McIlroy. In the old days, Tiger Woods and Mickelson. Now, a dozen for the nucleus at the top, and none are even close to either Mickelson or Woods. I'm hoping Rory McIlroy could be that next leader.

PGA: amazing how much money this "non-profit" found to pay its champions when threatened by the LIV. Amazing. The PGA players need to send a letter of thanks to Phil Mickelson. 

NHL: barring the most unexpected, Colorado will easily take the Stanley Cup, leading the best of seven series, 3 - 1. 

NCAAF: Arch Manning has committed to UT-Austin. Texas. College players can now earn money while playing college football. No state income tax in Texas.