Eggs — In Context, The Egg Story Was …. Silly … And A Distraction — March 30, 2023

Link here.

Americans, today, have it pretty good.

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Never Cry Over A Boy

… you’ll ruin your mascara.

Link here.

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We Gotta Get

… out of this place.

Link here.

 

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A Goldilocks Economy

 

Link here. And here.

Mortgage rates falling: recent home buyers can re-finance and use their new house as an ATM.

Jobs everywhere. Unemployment rate about 1%. Lots of folks taking advantage of this by holding two jobs.

Initial unemployment claims: from 191,000 to 195,000. 

Unions back in vogue. See recent Michigan story. Right to work.

 

Eggs at Target back to what they were two years ago. 

 

GDP: holding. 

 

Taylor Swift tickets at $1,000. Not my idea of a recession.

 

Those who are skittish of/about the stock market can invest in bonds and get a 5% return and no risk now that the US government will backstop even the worst-run banks.

Those who don't like guaranteed 5% yields can easily get 7%+ yields in the stock market, with hardly much more risk.

 

US not directly involved in any war.

 

US with so much energy, natural gas is going for less than $2.00. Now, Henry Hub with a $1-handle; if the news gets any better, we'll see natgas with a $0-handle. LOL.

A Bit Of Reality — March 30, 2023

Overnight.

This is why SecTransportation didn’t go to the East Palestine derailment. Today he would be traveling to Wilmer, Minnesota, and then on to Hettinger, ND. 

With 1,000 derailments a year, that’s all Buttigieg would be doing, 24/7.

Similarly, but not quite the same, it’s the reason VPOTUS isn’t visiting the southern border. (By the way, has anyone even talked about the “southern surge,” lately? If not, there must be a reason.)

I don’t have problems with either of them on those two issues.

Ovintiv, Fourteen Well On 1280-Acre Units; Siverston / South Tobacco Garden -- March 30, 2023

From the April, 2023, hearing dockets:

• 29994, Ovintiv, Siverston-Bakken; fourteen wells on a 1280-acre unit, sections 13/24-150-99; McKenzie;
• 29995, Ovintiv, South Tobacco Garden-Bakken, fourteen wells on a 1280-acre unit; sections 14/23-150-99; McKenzie;

The map:

The existing wells:

• 28094 1,367, Ovintiv, Wehrunng 150-99-14-23-5H, South Tobacco Garden, t7/14; cum 251K 1/23;
• 28095, 1,967, Ovintiv, Wehrunng 150-99-14-23-4H, South Tobacco Garden, t7/14; cum 238K 1/23;

• 20456, 1,096, Ovintiv, Staal 150-99-23-14-1H, South Tobacco Garden, t8/11; cum 371K 1/23;

• 23924, 1,096, Ovintiv, Staal 150-99-23-14-10H, South Tobacco Garden, t3/13; cum 154K 1/23;  
• 23925, 1,624, Ovintiv, Staal 150-99-23-14-3H, South Tobacco Garden, t4/13; cum 274K 1/23;  
• 23926, 3,027, Ovintiv, Staal 150-99-23-14-2H, South Tobacco Garden, t3/13; cum 306K 1/23;

• 25270, 1,798, Ovintiv, Holm 150-99-13-24-3H, Siverston, t8/13; cum 236K 1/23;
•  25271, 1,435, Ovintiv, Holm 150-99-13-24-2H, Siverston, t8/13; cum 282K 4/22;

• 20335, IA/2,370, Ovintiv, Holm 150-99-13-24-1H, Siverston, t8/11; cum 362K 4/22; off line;
  

• 26467, 1,007, Ovintiv, Scott 150-99-13-24-4H, Siverston, t5/14; cum 225K 1/23; 
• 26468, 946, Ovintiv, Scott 150-99-13-24-5H, Siverston, t5/14; cum 214K 1/23;
  

Just How Big Is Apple, Inc, Anyway? March 30, 2023

This will give you some idea, link here.

Apple in the news for another reason today: it's been talked about for years -- all the way back to when Steve Jobs and Bob Iger were on the boards of the other's company board. Bob Iger, at that time, said it would happen. Now, talk again.

Buy DIS now and hope for AAPL shares if Apple buys Disney? 

Nope.

• DIS P/E at 54.
• AAPL P/E at 27.

Disney has such a great brand name, and Disney has always been a darling of Wall Street -- what that means:
Apple makes a move for DIS: Apple has an immediate 10- 15% jump in share price.

How does Apple "move the needle"? Huge acquisition.

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.

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. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source. 

Would this be akin to theWarren Buffett BRK buying BNSF some years ago?

DIS:

• market cap: $180 billion

AAPL:

• market cap: $2.6 trillion
• cash on hand:

What will Apple get out of it?

• lots of content;
• lots of debt; and,
• lots of headaches.

Three Wells Coming Off Confidential List Today; WTI-Brent Update -- March 30, 2023

Midmorning; WTI jumped $1.01.

WTIBrent: finally someone is talking about this. Link here.

From cargoes for June onward, West Texas Intermediate Midland, oil from the Permian will become one of a handful of grades that set the Dated benchmark.

Freeport:

Overnight:

FF: EV production starts after months delay; FF91; it's much-delayed first luxury car, the FF 91 Futurist, California factory; shares rose 24% to 44 cents/share; longer range and better acceleration than Tesla, etc. No specifics. 

RSV: J&J drops out. Link here. 

Last month, a split panel of FDA experts voted 7-4 in support of the safety and effectiveness of Pfizer's shot. Soon after, the same committee voted unanimously in support of the effectiveness of GSK's shot and 10-2 on the safety question.

Though Moderna is trailing, the company stands a chance of gaining approval in time for the upcoming RSV season this fall. That puts all three on deck to compete. News on the RSV vaccine front could spark shares. Pfizer and Moderna stocks remain below their 50-day lines, while GSK stock is trading in line with that key marker.

Johnson & Johnson didn't expect to wrap up its Phase 3 study until November 2024, according to ClinicalTrials.gov. That would have given the other three a vast lead. Meanwhile, JNJ stock is already under pressure this year, having fallen more than 16% from a high point in late December.

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Back to the Bakken

Active rigs: 44.

Peter Zeihan newsletter.

WTI: $73.55.

Natural gas: $2.137.

Friday, March 31, 2023:
None. Six months ago, September has only 30 days.

Thursday, March 30, 2023:
3550, conf (no typo), Empire North Dakota, Waddle-Olson 1,
38864, conf, Liberty Resources, CA S 158-93-21-23-5MBHX,
38762, conf, Whiting, Locken 12-11TFX, 

RBN Energy: in quest to lower methane emissions, piking the right technology is key, part 3. 

The oil and gas industry is being pushed by regulators, third parties and investors to better identify and mitigate its methane emissions, especially the few “super-emitter” sites that make outsize contributions to overall emissions. But while operators are ramping up capital spending on new technology, one thing has become clear: There is no silver bullet when it comes to reducing emissions, and each option includes one or more drawbacks, including source attribution, costs, quantification, and detection limits. In today’s RBN blog, we’ll break down the advantages and disadvantages of the different measurement technologies.