Tech rally has more room to run: J.P. Morgan.
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OXY: makes $1.33 billion deal. The deal:
- to sell its Wyoming, Colorado, and Utah land grant
- about 2.5 million acres in Colorado, alone
- does not include OXY's core DJ Basin position
- buyer: Orion Mine Finance
- a footprint of approximately 4.5 million acres; one million fee surface acres
- $1.33 billion / 4.5 million acres = $300/acre -- throw in the one million fee surface acres and Wow! Nellie!
- some confusion?
- Orion is acquiring mineral rights to the world's largest known trona deposit; yes, trona! Wow. That sealed the deal for me, LOL! Trona? Link here.
- world's largest known trona deposit: who knew?
Andrew Sorkin, CNBC: says his family just bought two new Apple computers for their children. I always thought Andrew was a GE/NBC/MSNBC/Microsoft guy -- I never thought "he" would buy an Apple product. My hunch: his wife and kids drove the deal.
CNBC chief financial advisor: AAPL surging due to mom-and-pop investors. LOL. He really thinks the computer algorithms aren't in control? LOL.
China: gears up for record breaking US crude oil haul.
U.S. oil exports to China are set to reach a record next month in a
sign that Beijing is stepping up purchases to meet its commitments under
a landmark trade deal reached earlier this year.
Chinese crude buyers have chartered about 19 tankers for September to
send roughly 37 million barrels of oil to China, according to
provisional tanker fixtures. If these proceed as planned, the exports
would surpass a record set in May at 35.2 million barrels, according to
U.S. Census data compiled by Bloomberg. The May volume was also the most
by any U.S. oil buyer for a given month, data show.
Under phase one of the deal, the world’s largest oil importer
promised to buy an additional $200 billion of U.S. goods and services in
2020 and 2021, including $52 billion in energy products, in an
agreement signed in January. Purchases so far have lagged that target. A
review of the deal that was set for for August 15 was canceled, and has
yet to be rescheduled.
