Clearing Out The In-Box -- July 19, 2023

Locator: 45170MISC. 

Apple:

• voicemail. WSJ
• developing own version of ChatGPT
  

Netflix: 2Q23 earnings.

OPOYI: launch.

• link here.

My favorite chart, link here:

Vaccine: link here.

• current management of prenatal-Group-B-strep-positive-mother:

• vaccine, Pfizer:

AI:

EVs: Ford and GM having EV problems. Link here.

TSM; breathlessly we’re being told TSM delays building it’s new site in Arizona. Readers infer it’s due to the AI bubble bursting. In fact, TSM is delayed because not enough skilled workers to build the plant. 

Gasoline Demand -- Not Sure What To Make Of This -- July 19, 2023

Locator: 45169GASOLINE.

Gasoline demand, link here.

ASML Update -- July 19, 2023

Locator: 45168CHIPS.

Themes.

Chips: link here. Chips, semiconductor: link here.

ASML lithography, link here. 

• Deep Ultraviolet (DUV) lithography processes carve electric circuits into semiconductor wafers with processes of > 7 nm. 
• Newer Extreme Ultraviolet (EUV) lithography technology achieves even smaller processes of 2 nm and beyond. This advance, which allows more electric circuits to be squeezed onto a chip, is vital to sustaining Moore’s Law. 
• Next-generation High Numerical Aperture (High-NA EUV) lithography systems are currently in development. They are anticipated to enable even higher-resolution patterning, which should validate Moore’s Law in the foreseeable future.

Updates

July 19, 2023: earnings.

July 19, 2023: ASML guidance.

July 19, 2023: ASML sales. 

July 19, 2023: Barron's, link here:

July 19, 2023: superb second quarter.

• profit jumps;
• handily beats on both upper and lower lines;
• ups guidance

Original Post

ASML, CNBC, December 4, 2022: 

From the linked article:

ASML, headquartered in the town of Veldhoven, does not make chips.

Instead, it makes and sells $200 million extreme ultraviolet (EUV) lithography machines to semiconductor manufacturers like Taiwan’s TSMC.

These machines are required to make the most advanced chips in the world, and ASML has a de-facto monopoly on them, because it’s the only company in the world to make them. This makes ASML one of the most important chip companies in the world.

And more:

ASML has not been able to ship an EUV machine to China since 2019 due to various Dutch export restrictions, according to a company spokesperson.

But they said that ASML expects “the direct impact of the new export control measures on ASML’s overall 2023 shipment plan to be limited.”

There are currently no EUV systems in China. The U.S. is worried that if ASML ships the machines to China, chipmakers in the country could begin to manufacture the most advanced semiconductors in the world, which have extensive military and advanced artificial intelligence applications.

Peter Zeihan weighs in.

Two New Oil And Gas Permits; Eight Permits Renewed; Two Permits Canceld; Six DUCs Reported As Completed Including Four CLR Brangus Wells; Active Rigs Up To 39 -- July 19, 2023

Locator: 45167B.

Cheniere Energy:

• eyes new gas pipeline to feed LNG expansion; link here;
• Chenier: largest US LNG exporter
• may build a new pipeline to link its Louisiana expansion project to other pipelines
• Cheniere's Sabine Pass faciltiy, Louisiana, has been expanding since its production began in 2016 but needs additional natural gas beyond current supplies to reach its planned "Stage 5" capacity
• plays that could provide additional natural gas: Haynesville, Marcellus, mid-continent, Permian, Eagle Ford;
• see also RBN Energy update, July 18, 2023. 

From August 22, 2022 with "Sabine Pass stage 5" noted:

 

*****************************
Back to the Bakken

Locator: 45167B.

Active rigs: 39.

WTI: $75.35.

Two new oil and gas permits, #40053 - #40054, inclusive:

• Operator: Oasis
• Field: Todd (Williams)
• Comments: 
• one K2 Holdings 5401 well will be sited 935 FNL and 323 FWL; 
• the other K2 Holdings 5401 well will be sited 968 FNL and 324 FWL

Eight permits renewed:

• BR: one Lincoln Hill in Killdeer (Dunn County); three Omlid and four Ivan wills  in Elidah (McKenzie County)

Two permits canceled:

• MRO: a Kisse USA permit and a Videlius permit, both in Dunn County;

Six producing wells (DUCs) reported as completed:

• 39074, 250, Crescent Point Energy, CPEUSC Szarka 4-36-25-159N-100W-MBH,
• 39275, 627, Kraken, Sumner 12-13-24 5H,
• 37949, 711, CLR, Brangus FIU 10-11H,
• 37952, 1,210, CLR, Brangus Federal 7-11H2,
• 37954, 1,197, CLR, Brangus Federal 5-11H1,
• 37957, 1,054, CLR, Brangus FIU 2-11H,

Wells of interest:

• 32605, 1,995, CLR, Charolais North Federal 1-3H1, t-- 9/16; cum 867K 5/23; back on line; small jump in production;
• 32606, 2,305, CLR, Brangus North 1-2H2, t-- 9/16; cum 866K 5/23; not yet back on line; 

The CLR Brangus wells are tracked here.

The CLR North Charolais wells are tracked here.

The CLR South Charolais wells are tracked here.

Off The Net For Awhile -- July 19, 2023

Locator: 45166B. 

There is so much more to report -- can't wait to get to "chips," for example -- but I'm going to the park with the grandsons.

We're going to learn some new terms -- stay tuned.

Oh, by the way, AI / chips -- not a bubble.