CLR With Twelve New Permits -- February 9, 2021

Twitter: quarterly results after market close today. Earnings beat, but users flat. Apparently going to a subscription service.

Got gas? Germany, not so much. Germany's gas storage depletes fast amid lower Gazprom flows. Link here to Tsvetana Paraskova. 

WTI: up a bit today. Should close about $58.35 today. Some analysts are predicting $100 oil in the not-so-distant future. 

BP: losing money on its car-charging stations, but expects that to change as more electric vehicles come onto market.

• to date: the company has installed 10,000 chargers
• goal: 70,000 stations by 2030
• big expansion effort in Europe and China

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

Active rigs:

$58.36	2/9/2021	02/09/2020	02/09/2019	02/09/2018	02/09/2017
Active Rigs	15	54	63	58	36

Twelve new permits, #38129 - #38140, inclusive:

• Operator: CLR
• Field: Big Gulch, Cedar Coulee
• Comment: CLR has permits for twelve more Dennis/Flint Chips wells in Cedar Coulee:

• 38129, Dennis, Cedar Coulee, NWNE 8-147-96, 208 FNL 1854 FEL;
• 38130, Dennis, Cedar Coulee, NWNE 8-147-96, 241 FNL 1853 FEL;
• 38131, Flint Chips, Cedar Coulee, NWNE 8-147-96, 274 FNL 1853 FEL;
• 38132, Dennis, Cedar Coulee, NWNE 8-147-96, 307 FNL 1853 FEL;
• 38133, Flint Chips, Cedar Coulee, NWNE 8-147-96, 340 FNL 1853 FEL;
• 38134, Dennis, Cedar Coulee, NWNE 8-147-96, 373 FNL 1853 FEL;
• 38135, Flint Chips, Cedar Coulee, NWNE 8-147-96, 406 FNL 1853 FEL;
• 38136, Dennis, Cedar Coulee, NWNE 8-147-96, 439 FNL 1853 FEL;
• 38137, Flint Chips, Cedar Coulee, NWNE 8-147-96, 472 FNL 1853 FEL;
• 38138, Dennis, Cedar Coulee, NWNE 8-147-96, 505 FNL 1853 FEL;
• 38139, Dennis, Cedar Coulee, NWNE 8-147-96, 538 FNL 1852 FEL;
• 38140, Dennis, Cedar Coulee, NWNE 8-147-96, 571 FNL 1852 FEL;

Four oil and gas permits canceled:

• CLR: four Harrisburg permits in McKenzieCounty:

Ten permits renewed:

• Petro Harvester (9): one Tafelmeyer C permit; one STR1 permits; two RNL1 permits; four FLX4 permits, and one LIG2 permit, all in Burke County;
• Kraken: a Wallace permit in Williams County;

Notes From All Over -- Mid-Day Edition -- February 9, 2021

WTI is dead! Long live WTI: 

Driving miles: 

Get woke! Go broke!

 *************************************
And My Favorite

ISO NE oh-oh: one of the worst days ever, so far this winter. Link here. Graphics to follow.

• coal: 5%
• oil: 5%
• renewables: 5% -- only is renewable energy not "holding its own" it's costing consumers even more as expensive alternatives required
• Boston: paying $152 / WMh

Fast And Furious -- Mid-Morning Edition -- Nothing About The Bakken -- February 9, 2021

NASCAR race tonight: 6:00 p.m. CT -- Daytona. 

The market: who wudda guessed? Dow turns green. Barely. NASDAQ turns green. Russell 2000 green. Seven-day streak in the making? 

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

From a reader:

Why is it wrong to call it the China Virus, but okay to call it UK variant or the South African variant?  Just wondering.

The headlines:

• Manhattan office supply soars to record as remote-working dominates;
• Tesla:
  
• excluding sunsetting emission credit sales Tesla still loses money, as it has every year in its 17-year existence;
• Tesla summoned by Chinese regulators over quality issues; The WSJ; at twitter;
• charging stations: 1;
• charging stations: 2;
  
• F-15EX flies for first time as USAF prepares for deliveries; 
• BP screwed;

******************************
The Sports Page

Updates

5:43 p.m. CT: I've literally watched every sports talk show on television today, from 9:00 a.m. to 6:00 p.m. and every show has led off with "the ad." Near the end of the day the Cowobys organization finally weighed in, saying it was an "oversight." LOL. That guarantees this story will continue into tomorrow. It will not end until Dak Prescott himself has weighed in and analysts have exhausted parsing his remarks.

Original Post

The most brilliant "ad" ever? 

The Dallas Cowboys commercial released today to encourage Dallas fans to buy season tickets.

This commercial -- 32 seconds long -- has been playing all morning on every sports talk television show. 

The "talking heads" are laughing at the ad, but again, there is no serious analysis, asking "why?"

The "controversy": the 32-second ad encouraging Dallas fans to buy season tickets does not include any footage of Dak Prescott, but Troy Aikman does make the cut.

The immediate question whenever an ad is released: who is the audience?

The audience for this ad:

• Dallas fans
• Dak Prescott
• the organization

Dallas fans:

• this suggests to me the internal polling showed there is no love lost between Dallas fans and Dak Prescott; 
• internal polling might suggest that as great as Dak Prescott is, he is no Troy Aikman; not featuring him in the ad will not hurt season ticket sales; 
• if there's one thing Texans pride themselves in, it's loyalty -- not just sports fans, but Texans across the board -- patriotism, loyalty -- holding out for more pay, shorter contract does not exemplify loyalty; Dak said he would stay with Dallas only as long as the pay reflected his "self-appraised" value;
  

Dak Prescott:

• need we say more?
  

the organization:

• this is the biggie;
• this ad has been playing nationwide all morning long; more exposure than the Dallas Cowboys could have gotten any other way; huge amount of exposure
• Jerry Jones: the Dallas Cowboys -- "America's team" -- this kind of exposure is priceless
• any other NFL team getting this kind of exposure just two days after the Super Bowl? Nope.
  
• Jerry Jones is the organization; is the team; the 32-second ad is about the Cowboys, not about Dak
• if the ad is about the Cowboys, no one is going to get higher billing than Jerry Jones

Bottom line:

• brilliant ad;

Daimler Truck North America -- Huge Detroit Investment; Going Down Memory Lane -- WHS -- February 9, 2021

DTNA: Daimler Truck North America;
DTB: Daimler Truck and Bus

Undated but company newsletter sent to me February 9, 2021:

• Daimler's major competitors:
• PACCAR
• TRATON, Volkwagen Group: soon-to-be-owner of Navistar
• help drove DTB
• Announces: plans to introduce the Detroit ePowertrain. Not something from a car shoehorned into a truck application. Not a propulsion system bought off the shelf from a supplier. 
• No – an in-house Daimler Truck & Bus technological marvel to power our Freightliner eCascadia and eM2 and backed by the power of Detroit – our people, our technological prowess and our dealers. 
  

Today, we took another step forward into a new era for our CO₂-neutral future, the future of Detroit, the future of DTNA, and the future of Daimler Truck & Bus. See more about the ground-breaking Detroit ePowertrain at DemandDetroit.com.  

DTNA: 

• introduces Detroit ePowertrain; invests $20 million in Michigan facility. 
• initial production expected to begin in late 2021
• the start of both Freightliner models is to begin in 2022 
• also in Australasian News;

The single motor design is rated at 180hp, delivering maximum torque of up to 11,500 lb-ft (15,591.91Nm) of torque, while the dual motor design offers up to 360hp and 23,000 lb-ft (31,183.81Nm) of torque.

The Detroit ePowertrain will be mated to the choice of three battery offerings for the eCascadia and eM2, including a 210 kilowatt hour (kWh) version, 315 kWh, and 475 kWh.

Battery packs comprise arrays of lithium-Ion prismatic cells.

Initial ePowertrain offerings will see maximum ranges exceed 230 miles (370km) on a full charge for the medium-duty eM2 and 250 (402) miles for the Class 8 eCascadia tractor.

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

**********************************
Williston High School Memories

Williston, North Dakota

Yearbooks

1969: https://issuu.com/jim.stenehjem/docs/whs_yearbook_1969_lite.
1968: https://issuu.com/jim.stenehjem/docs/whs_yearbook_1968_lite__636675af0519a4.

A huge "thank you" to a reader pushing me in this direction.

No Wells Coming Off The Confidential List; Total Reports Huge Loss; Maintains Dividend -- February 9, 2021

Qualcomm is dead! Long live Qualcomm!

• just a few weeks ago, Apple announced it would be transitioning to its own chips, moving away from Qualcomm
• December 10, 2020, Bloomberg: Apple starts work on its own cellular modem;
• component would eventually replace mobile chips from Qualcomm
• oh-oh; the end of Qualcomm as we know it?
• today: Qualcomm debuts world's first 10-gigabit 5G modem, destined for 2022 iPhones; link here; 
• Qualcomm announces the Snapdragon X65, the world's first 10 Gigabit 5G modem and antenna system for smartphones, enabling theoretical data speeds up to 10 gigabits per second. Apple will likely use the Snapdragon X65 in 2022 iPhones.

Total Loss: link here to Charles Kennedy. 

• net loss: $7.2 billion
• 2019: a profit of $11.27 billion
• silver lining: production costs -- as low as $5.10 / boe
• dividend unchanged; 80 cents/share
• on a down day for the market: down 3.6%; lost $1.56; trading at $42

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

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

Active rigs:

$57.79	2/9/2021	02/09/2020	02/09/2019	02/09/2018	02/09/2017
Active Rigs	15	54	63	58	36

No wells coming off the confidential list.

RBN Energy: February polar vortex effect puts $3 / MMBtu gas prices back in play.

Weather is the perpetual wildcard in the natural gas market, but it’s been particularly shifty this winter, keeping market participants — and weather forecasters, for that matter — on their toes. Gas futures prices started this season at $3.30-plus/MMBtu, but then endured some of the warmest weather on record (in November and January), including a couple of polar vortex head fakes over the past month or so — weather forecasts at times in January started off much colder but ultimately reversed course. 

Prompt CME/NYMEX Henry Hub futures prices have seesawed as a result. Despite the weather setbacks, however, prices have held on in the $2.40-$2.70/MMBtu range through much of winter and averaged more than $0.60/MMBtu higher year-on-year in January. And, with an Arctic blast set to unfurl across the Lower 48 this week, prices last Friday topped $3/MMBtu again in intraday trading before settling in the high-$2.80s/MMBtu Friday and Monday. 

Today, we examine the supply-demand factors underlying the recent price action, and prospects for sustained $3/MMBtu gas prices.