The Million Dollar Way (The Bakken Oil Blog)

Thursday, November 17, 2022

"No More Drilling." "Saudi First." The Biden Legacy -- November 17, 2022

Link here.

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Back to the Bakken

The Far Side: link here.

WTI: $80.94

Natural gas: $6.138.

Active rigs: 40.

Sunday, November 20, 2022: 34 for the month, 71 for the quarter, 616 for the year.
38876, conf, CLR, Nebula SWD,
38788, conf, CLR, Medicine Hole 10-27H,
37957, conf, CLR, Brangus FIU 2-11H,

Saturday, November 19, 2022: 32 for the month, 69 for the quarter, 614 for the year.
38789, conf, CLR, Medicine Hole 11-27H1,
37958, conf, CLR, Charolais South Federal 16-10HSL1,

Friday, November 18, 2022: 30 for the month, 67 for the quarter, 612 for the year.
None.

RBN Energy: the steady march higher for octane prices driven by demand, tighter supplies.

While we’ve seen up-and-down spikes in stock market indices, cryptocurrency values and the prices of crude oil and motor fuel in recent years, the price of one important commodity has been quietly but relentlessly rocketing higher — octane, the primary yardstick of gasoline quality and price. The steady rise in octane prices is tied in part to the fundamental change in how octane is valued, with the retail market now being impacted more by demand than production costs. In today’s RBN blog, we look at why octane prices have climbed over the past decade and what market factors are limiting its supply.

For Investors -- November 17, 2022

Link here.

Walmart Vs Target -- November 17, 2022

3Q22:
Walmart: an incredible third quarter.
Target: an awful quarter.

Link.

Four differences between Target and Walmart:

Grocery routine vs occasional stop:

Walmart gets a far bigger share of its sales from groceries than Target, which is helping it draw shoppers looking to save money as inflation squeezes budgets.
Groceries account for 56% of Walmart’s annual revenue, compared with just about 20% at Target, according to company filings. Walmart is the country’s largest grocer by revenue.

Low prices vs fun finds:

Walmart is known for its mantra of “everyday low prices” and its focus on value has become synonymous with its name. Founder Sam Walton built the company on a no-frills approach aimed at making groceries and other products more affordable.
As Americans increasingly watch their budgets, the big-box retailer’s reputation as a discounter is giving it an edge. And the company has flexed its ability to use its size and scale to keep prices low.
Walmart’s McMillon speaks often about the company being a price leader — and more recently, an inflation fighter. For Thanksgiving, the company said it would hold down the price of foods like turkey and ready-to-heat macaroni and cheese to last year’s levels. [Walmart has succeeded.]

Planned purchases vs impulse buys:

About 21% of sales at Target come from unplanned purchases, according to GlobalData research from before the pandemic. At Walmart, the figure is about 12%.
In an inflationary environment, those shopping sprees – and impulse buys – become a tougher sell.

Shopper spending power:

During the pandemic, Target benefited from its middle-income customers, who suddenly felt flush with cash from stimulus checks and the money they weren’t spending on dining out, travel or sending kids to summer camp.
Those shoppers helped Target’s sales grow dramatically during the pandemic. Its annual revenue rose about 36% to $106 billion in 2021, the most recent full fiscal year, from 2019.