The Energy And Market Page, Part 2, T+242 -- September 19, 2017 -- The Trump Rally Keeps On Trumping -- UN Speech Best Ever According To Some

More records. All three indices on track to hit all-time highs in late afternoon trading. 

NYSE:

• new highs, 162, including: Andeavor (Tesoro); Berkshire, B & A (whoopee); Boeing, CAT, Phillipos 66 (whoopee); RDS, B & A (whoopee)
• new lows, 17

Strange bedfellows: Kohl's will now pack and ship eligible items back to Amazon fulfillment centers. The same service is available at Whole Foods grocery stores, announced when Amazon acquired that grocery store chain.

Bye-bye? Nope, buy-buy. CNBC contributor had it exactly right today -- whether GOP repeals ObamaCare or whether it doesn't, investing in US health care companies is a no-brainer. Bottom line for him regarding health care investments: buy-buy. Buy if ObamaCare is "repealed" (wink, wink); buy if ObamaCare survives a GOP vote to repeal. I've said the same thing for months.

Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here.

The Whiting Wold And Wold Federal Wells In Sand Creek Oil Field

New permit added, SWSE 34-153-97;

• 37439, conf, Oasis, Wold 5397 43-34 6B, Sand Creek, first production, 6/21; t--; cum 129K in les than five months;initial production:

Date	Oil Runs	MCF Sold
10-2021	17014	59050
9-2021	35172	95624
8-2021	33532	84969
7-2021	31166	68677
6-2021	12597	26103

New permits added May 17, 2018, SESE 1-153-97;

• 34914, SI/NC-->3,360, Whiting, Wold Federal 44-1-3H, Sand Creek, t4/20; cum 240K 9/21;
  
• 34915, SI/NC-->3,072, Whiting, Wold Federal 44-1-3TFH, Sand Creek, t4/20; cum 180K 9/21;
  
• 34916, SI/NC-->3,216, Whiting, Wold Federal 44-1-4H, Sand Creek, t4/20; cum 282K 9/21;

The Whiting Wold wells in Sand Creek, will run west to east, ending in section 5-153-96:

• 33481, 1,748, Whiting, Wold Federal 42-1-1H, Sand Creek, t9/18; cum 211K 5/20; intermittent starting 6/20; just came back on line, 9/21; nice production; cum 222K 9/21;
  
• 33469, 1,757, Whiting, Wold Federal 42-1-1TFH, Sand Creek, t10/18; cum 130K 6/20; off line as of 12/18; back on line 3/19; only 19 days, 7/20; cum 158K 9/21;
  
• 33470, 1,833, Whiting, Wold Federal 42-1-2H, Sand Creek, t9/18; cum 197K 7/20; only 12 days 7/20; just came back on line 9/21; cum 211K 9/21;
  
• 33471, 2,387, Whiting, Wold Federal 42-1-2TFH, Sand Creek, t8/18; cum 202K 7/20; cum 232K 9/21;
• 33472, 1,953, Whiting, Wold Federal 42-1-3H, Sand Creek, t8/18; cum 128K 7/20; off line 1/19; cum 156K 9/21;
  

• 33485, 2,522, Whiting, Wold Federal 43-1-1TFH, Sand Creek, t8/18; cum 205K 7/20; intermittent since 5/20; just came back line 9/21;cum 218K 9/21;
• 33484, 1,583, Whiting, Wold Federal 43-1-1H, Sand Creek, t9/18; cum 207K 1/20; just came back on line, 6/21; cum 236K 9/21;
  
• 33483, 2,387, Whiting, Wold Federal 43-1-2TFH, Sand Creek, t8/18; cum 82K 1/20; mostly off line as well is getting put on pump, etc; or, recent neighboring fracks; cum 150K 9/21;
  
• 33482, IA/2,493, Whiting, Wold Federal 43-1-2H, Sand Creek, t9/18; cum 289K 1/20; still off line, 9/21;
  

• 34661, drl/A-->3,984, Whiting, Wold Federal 44-1-1TFH, Sand Creek, t4/20; cum 82K 7/20; a 34K month; see this note; cum 167K 9/21;
  

Producing well:

• 18787, AB/IA/801, Whiting, Sorenson Federal 15-5H, Sand Creek, 24 stages; 3 million lbs, large/small sand and ceramic, t1/11; cum 144K 3/18; went off-line as of 12/17;

The graphic:

The Energy And Market Page, T+242 -- September 19, 2017

From the September, 2017, CLR corporate presentation. Link here for presentations.

First, look at the breakeven price for crude oil in the Bakken:

 

Then, look at how the DAPL affected takeaway capacity in the Bakken:

Again? It looks like the market may open at new highs in a couple of hours. In the old days, a 75-point rise in the Dow 30, as it did yesterday, would have been noteworthy. Now 75 points barely represents a third of a percent. In fact, one of my personal favorite portfolios actually dropped slightly yesterday despite the fact the market rose. It concerned me until I checked the reason why. Shares in a couple of companies had risen quickly over the past two weeks, and a bit of profit-taking explained the slight drop. The point of all this: any rise or fall in the Dow 30 of 100 points is simply a "flat day" in the big scheme of things. Having said that, 100 points in the "green" is always better than 100 points in the "red."

Toys "R" Us: files for bankruptcy. No link, story everywhere.

EVs. Why switching to fully electric cars will take time -- BBC. It looks like all that talk about EVs is code for: a) hybrids; b) hybrids; c) hybrids. I think of several reasons why the switch will "take time," starting with consumer demand. What does the BBC say?

• conventional the ICE (gasoline and diesel) is not going away
• the definition of "electrified" automobile: more and more it simply means 25-mile-EV-Prius-hybrid range (which does not need to be plugged in to re-charge)
• a mild hybrid is effectively a conventional car, using a small electric engine to take over while an automobile is idling at stoplights
• huge infrastructure still required to meet needs of true EVs
• a lot of batteries will be required to meet needs of true EVs

Actually, the article was a bust. Save yourself some time; don't read it. The article simply reiterated what you already know and said it fairly poorly, considering this was BBC.

The Political Page, T+242 -- September 19, 2017

The art of the deal: "we" give up a dozen Confederate statues and, in return, we "get" ten national monuments in exchange. 

Priorities? In 2005, the FTC blocks Blockbuster from buying Hollywood Video. Today, it is announced that Walgreens wins FTC's okay to buy 1,932 Rite Aids stores. As far as I know, Blockbuster and Hollywood Video are no longer around.

Cracking up. Hillary Clinton says she may challenge the 2016 election results. I assume the challenge will begin in California, and then skip Wisconsin, Michigan, Pennsylvania and head directly to New York. One assumes the challenge will raise a lot of money for the Foundation.

Walls. Hollywood elites have them. The Obamas have one. UC-Berkeley had one. Even the Chinese have one. It seems it's "okay" for everyone to put up protective walls except Trump. Latest example: Hungary. From one of those alt-right sites, Hungary builds a wall, cuts illegal immigration by over 99%." Over 99% is, like, almost 100%, or total control.

Hungary has slashed illegal immigration by over 99 per cent after rolling out a series of powerful border fences in response to the European migrant crisis, possibly providing a lesson as to the potential impact of constructing President Trump’s much-discussed southern wall in the U.S.

Speaking on the second anniversary of the government’s move to seal Hungary’s border with Serbia — which is also an external border for the European Union — Prime Minister Viktor Orbán’s Chief Security Advisor, György Bakondi, announced that the fences have caused illegal immigration to collapse from 391,000 in 2015, to 18,236 in 2016, to just 1,184 in 2017.

A huge "thank you" to a reader for sending me the link. The reader also noted that the #1 "open-borders" proponent is a Hungarian, George Soros.

Also this little tidbit from the same reader: four companies have been chosen to built prototypes for "Trump's wall." The four are listed at this site. One of them is Fisher Sand & Gravel Co., DBA Fisher Industries, of Tempe, Arizona. Fisher Sand & Gravel Co. of Dickinson is now wholly owned by the Fisher Industries. Fisher Sand and Gravel is one of the top 25 sand and gravel companies in the United States, with operations in Arizona, Montana, Nevada, North Dakota South Dakota, New Mexico and Wyoming.

WTI May Open Above $50 -- And Trending Higher -- September 10, 2017

Active rigs:

$50.35↑	9/19/2017	09/19/2016	09/19/2015	09/19/2014	09/19/2013
Active Rigs	56	32	67	196	182

RBN Energy: possible scenarios for the 2017- 18 natural gas market withdrawal season.

How did I miss this? Worth re-posting:

Four companies have been chosen to built prototypes for "Trump's wall." The four are listed at this site. One of them is Fisher Sand & Gravel Co., DBA Fisher Industries, of Tempe, Arizona.

Fisher Sand & Gravel Co. of Dickinson is wholly owned by the Fisher Industries. Fisher Sand and Gravel is one of the top 25 sand and gravel companies in the United States, with operations in Arizona, Montana, Nevada, North Dakota South Dakota, New Mexico and Wyoming.

WTI: $50 and trending higher. OPEC sticks to cuts. A weaker dollar also helps.

Boom! World's biggest wealth fund hits $1 trillion. Quick! Without looking, what country. Spoiler alert: Norway. Norway's sovereign wealth fund hit $1 trillion for the first time Tuesday (today), driven higher by climbing stock markets and a weaker US dollar.

The fund’s sheer size has made it a challenge to find markets big enough to invest in. Meanwhile, Norway’s politicians are finding it hard to resist the temptation to raid the world’s biggest state piggy bank, with the petro-dollar addiction threatening to overheat the $400 billion economy.

Unwind: markets concerned that the Fed's unwinding could hurt the market. Perhaps Norway will soak up what the Fed unwinds.

Mideast deal: Russia's Rosneft clinches gas pipeline deal with Iraq's Kurdistan.

Perspective. Some folks are wringing their hands over thousand-dollar-iPhones. Let's put that into perspective. From The Wall Street Journal earlier this week: some New York city K-12 schools cross $50,000-a-year mark. Parents are increasingly concerned that "these schools are dominated by the city's most affluent families." As I commented at the WSJ the other day regarding the price of the new iPhone X, folks have no idea how much money is out there.

By the way, for the record, I've seen few negative comments over at Macrumors regarding the price of the new iPhone. The biggest decision folks were struggling with was whether to buy the $80 iPhone 8 Plus or the slightly more expensive iPhone X.