The Million Dollar Way (The Bakken Oil Blog)

Saturday, September 10, 2022

These Photos Are No Longer Atypical Or Funny -- September 10, 2022

Okay, they're still funny. Just not as funny as they once were.

Laser-Focused On Dividends -- PXD -- September 10, 2022

I don't follow SM Energy. I don't directly invest in SM Energy. I lost interest in SM Energy when it left the Bakken years ago.
The reason for posting: if this doesn't tell you how much money the oil and gas sector is making, nothing will convince you this is unprecedented -- the cash flow and cash being returned to shareholders.
In addition, oil and gas investors will not be happy with those oil and gas companies not aggressively increasing their dividends.
In addition, oil and gas companies are choosing to return all that cash to shareholders rather than drill more oil. In some cases, the oil companies have no choice: the Biden administration is shutting down oil drilling where it can. In addition, not only is the world awash in oil but "everyone" sees demand destruction everywhere.

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. Full disclaimer at tabbed link.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.

Laser-Focused On Dividends -- September 10, 2022

SM Energy pays a semi-annual dividend, in the months of April and October.

For years, SM Energy's semi-annual dividend has been one cent.

This month, SM Energy increased its semi-annual dividend by 15x.

Announcements, September 7, 2022:

Dividend history:

I don't follow SM Energy. I don't directly invest in SM Energy. I lost interest in SM Energy when it left the Bakken years ago.

The reason for posting: if this doesn't tell you how much money the oil and gas sector is making, nothing will convince you this is unprecedented -- the cash flow and cash being returned to shareholders.

In addition, oil and gas investors will not be happy with those oil and gas companies not aggressively increasing their dividends.

In addition, oil and gas companies are choosing to return all that cash to shareholders rather than drill more oil. In some cases, the oil companies have no choice: the Biden administration is shutting down oil drilling where it can. In addition, not only is the world awash in oil but "everyone" sees demand destruction everywhere.

The US Fed Is Not Happy -- September 10, 2022

Link here.

The Fed: "We're going to slam the US equity market. It's going to be painful."

Wall Street: "Here, hold my beer."

Alternate:

Wall Street: "Double-dog dare you."

Warren Buffett: ESG? What's ESG? September 10, 2022

Updates

September 11, 2022: IBD repeats the story. Link here.

Berkshire Hathaway now owns 26.8% of Occidental Petroleum, according to a regulatory filing Friday night, September 9, 2022.

That came exactly one month after Warren Buffett's firm disclosed its OXY stock stake had reached 20.2%. Crossing the 20% ownership level means Berkshire Hathaway can record Occidental earnings on its books.

The Federal Energy Regulatory Commission has given Berkshire Hathaway permission to buy up to 50% of Occidental Petroleum. That's according to an order made public on August 19, 2022. Berkshire made the request on July 11, 2022.

Original Post

Link here.

There is some question whether this article is "exactly" accurate. It depends on the definition of "stake" -- actual or potential -- "actual ownership" or "actual ownership plus warrants."

See this thread to see where disagreement exists.