Looking Good For A Thursday -- Triple-Digit Day For Texas -- Again -- August 17, 2023

Locator: 45485B.

Now? It's a "richcession." This obsession-recession is quite amazing. It's almost as if 30-y/o business writers have just discovered the business cycle. Link here.

Best advice ever: stay the course.

Quick picks: it's been a great month for investors and traders.

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Back to the Bakken

WTI: 

Friday, August 18, 2023: 35 for the month; 237 for the quarter, 482 for the year
39555, conf, Neptune Operating, Gibbins 11-2 2H,
39451, conf, CLR, Edward 11-23H1,
37881, conf, BR, Kermit 1-8-32UTFH,

Thursday, August 17, 2023: 32 for the month; 234 for the quarter, 479 for the year
39554, conf, Neptune Operating, Gibbins 11-2 3H,
38903, conf, Enerplus, MC-Kudrna 144-95-10-3-2H,
37880, conf, BR, Rink 2-1-5UTFH,
35470, conf, Oasis, MHA 1-29-30H-150-92,

RBN Energy: Venture Global becomess LNG leader as Calcasieu Pass commissioning drags on, part 3. Archived.

December 15, 2024: Plaquemines up and running. Link here.

Venture Global reached a final investment decision (FID) on Plaquemines LNG Phase 1 in March 2022, making it the first new LNG project to get the green light post-COVID and kicking off a massive expansion period for U.S. LNG. In fact, more than 61 million tons per annum (MMtpa) of new U.S. LNG capacity has been given the go-ahead in the past 17 months, including the full 20-MMtpa Plaquemines LNG project from Venture Global, plus projects from Cheniere, Sempra and, most recently, NextDecade’s Rio Grande LNG. 

Even if no new LNG projects are sanctioned after this — which seems unlikely, given the progress seen on some pre-FID projects — the U.S. will have the capacity to export 167.5 MMtpa, or more than 22 Bcf/d, by later this decade. 

This unprecedented level of buildout continues to be dominated by our “Big Three” of U.S. LNG — Cheniere, Sempra and Venture Global — which not only already operate LNG export terminals in the U.S. and have projects currently under construction, but all still have more capacity under development and working toward eventual FIDs. 

In today’s RBN blog, we wrap up our series with a look at the newest member of the Big Three, Venture Global, its projects under development and the controversy surrounding the commissioning of Calcasieu Pass LNG.

It's Going To Be A Circus -- August 16, 2023

Locator: 45484POL.

XTO Renewed Seven Permits; Two DUCs Reported As Completed — Gasoline Demand Dampened By WFH Crowd -- August 16, 2023

Locator: 45483B.

Gasoline demand, link here. 

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Back to the Bakken

WTI: 40.

Two new permits, #40126 - #40128, inclusive:

• Operators: Summit Carbon Storage (2); MRO
• Fields: Oliver; Murphy Creek (Dunn County)
• Comments:
• Summit Carbon has permits for two KJ Hintz "wells" in Oliver County; NENE 17-142-86; 
• to be sited 546 FEL with one "well" 426 FNL and the other, 526 FNL.

Seven permits renewed:

• XTO: XTO renewed several permits in Williams and McKenzie counties -- Marmon Federal (Williams); Prairie Federal (3 - McKenzie County) and Harley Federal (3 - McKenze County)

Two producing wells (DUCs) reported as completed:

• 39110, 3,473, MRO, Luhhman 41-13H,
• 39122, 3,369, Grayson Mill, Cherrey 34-27 4H,

Wow! Is Anyone Paying Attention? 5.8 -- Most Recent GDP Estimate, 3Q23 -- This Does Not Look Like A Soft Landing To Me -- August 16, 2023

Locator: 45482ECON.

And?

What if? Link here.

 

Once folks understand this ... wow, Katy, bar the door!

Original Post

Based on Liz Sonder's graphics posted earlier this morning, the new GDP estimate is not surprising.

5.8.

I really wish, we could have a quiet, radio-fireside-chat by a senior statesman -- perhaps a person like Joe Biden -- who could talk about the week's events in a quiet, dignified manner -- the economy would no doubt be the theme for this week's show.

Reminiscing. I feel fortunate to have watched many of these Friday night shows:

Today, GDPNow:

This does not look like a soft landing to me. Yes, I know, it's just a snapshot in time. 

Tech Update -- August 16, 2023

Locator: 45481TECH.

 

Tech: CPUs, GPUS, cores, threads and all that jazz --

• part one: link here.
• part two: link here.
• part three: link here.
• part four: part four.

Definition:

Then (a few months ago):

Now (September, 2023):

Simple addition:

• 32 CPUs + 80 GPU cores = 112 cores on the M3 chip.
• in the "old" days, your computer was a single CPU.
• the M3 is using 3nm technology
• to the best of my knowledge, no other manufacturer of consumer electronics uses 3nm architecture and/or upwards of 112 cores on a single chip -- needs to be fact-checked.
  

No one else in the industry is even coming close. This blows away the competition. Need to fact check.