Monday, February 23, 2026

And Some Call It A Bubble -- Apple -- TSMC -- Phoenix -- February 23, 2026

Locator: 50041APPLE.

Link here. 

The beginning of a very, very long article:

PHOENIX—On a desolate stretch of land dotted with cactuses some 30 minutes north of Phoenix, more than 30 cranes tower over a construction site 2½ times the size of New York City’s Central Park. A mammoth chip-manufacturing facility is rising, along with U.S. hopes of revitalizing a crucial industry.

The plant’s biggest customer is Apple, which is using its enormous purchasing power to help boost American chip production. The company is seeking to diversify its supply chain, score tariff exemptions and answer the call of two presidents to help the U.S. reduce its dependency on foreign suppliers for the foundational technology of the modern economy.

The world’s largest chip maker, Taiwan Semiconductor Manufacturing, or TSMC, is building the site, planning to spend $165 billion to build six chip plants and more, making it one of the largest construction projects in the U.S.

Under pressure from the Trump administration, Apple vowed last year to invest $600 billion in the U.S. over four years. Much of that spending isn’t related to manufacturing. It counts all spending in the U.S. including salaries for tens of thousands of Apple employees and retail staff.

But the commitment also includes the more than 100 million chips Apple plans to buy from TSMC Arizona this year, said David Tom, its global head of procurement. “We’re buying as much of the output of this fab as we can,” he said, referring to the fabrication plant.

The effort is modest relative to the global chip supply chain. And Apple’s purchases from the factory represent a small percentage of its total demand for chips, the key components that power its devices.

Even so, the scale of construction, at TSMC and other suppliers, shows Apple’s effort to reshore its chip supply chain is bearing fruit. The Wall Street Journal toured the desert southwest with Apple executives to see facilities that its purchasing heft and investments are helping to build.

(News Corp, owner of the Journal, has a commercial agreement to supply news through Apple services.)

 

Monday End-Of-Day Report -- February 23, 2026

Locator: 50040B. 

A DEI hire? That's all I could think of when I saw this headline in The New York Times: 

Focus on dividends: YUM!

  • raises dividend from 71 cents to 75 cents quarterly
  • record date, February 20, 2026
  • pay date: March 6, 2026

Market: I have to laugh. 

Folks seem upset that the market dropped 1% to 2% today -- Micron is up 261% over the past six months. Is anyone paying attention? And, on top of that, for those companies that have not done as well, this provides a buying opportunity. But more important, on days like this, the market is providing more clarity for investors, if not traders. 
CAT down 0.4% today -- four-tenths of one percent. CAT is up 75% over the past six month. 
Dividends: ENB pays 5.44% and was up 1.6% today; EPD pays 6.05% and was up up very slightly today; and, finally, OKE was down today after superb earnings but still pays 4.9%, after raising its dividend last month. I grew up in an era when a dividend of 6% was considered "good." 

White House: 

US women's Olympic Hockey team politely declines invitation to attend SOTU address tomorrow night; US men's team, also a gold medal winner (!) has not yet had a chance to RSVP. My recommendation: teams should not attend. Period. Dot. I might talk about this later, but this is a no-brainer. I was often a member of a "rent-a-crowd" while in the USAF and attended any number of "such" functions when on active duty. It became tedious. This is a time for these folks to enjoy time with their families and close friends. 

My favorite thread today? Canadian hockey coach whining about losing -- link here. 

There are so may story lines here. You know, it's pretty funny. Olympic hockey -- overtime -- 3 v 3. The US got an incredible opportunity in regulation time when they were at the wrong end of a 5 v 3 power play -- LOL. So, in regulation time, the US (3 players) beat Canada (with five players) in a power play, get great practice for overtime when its 3 v 3. LOL. And, then, of course, there are the "Americas" that are upset the US won. LOL. See comments from Jack Hughes' mother. Link here.

Reminiscing: wow -- flashing across my mind right now -- my halcyon days --idyllically happy and peaceful -- while in Yorkshire in the early 2000s. 

What I would give -- short of giving up my family -- if I could return to those days. For an extended period of my time in the USAF, I only had to be "in the office 0800 - 1600" Monday through Friday and not allowed to be in the office on weekends or after hours. No "rent-a-crowd" responsibilities. 
My only "job" after hours during this extended period was a) reading; b) hiking for hours across the Yorkshire moors; and, c) well, that was it. Nothing else -- oh, yes, that's right -- listening to Hank Williams, Sr, on my Sony Walkman! 

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

OKE earnings: link here.

  • raised dividend from $1.03 to $1.07;
  • record date February 20, 2026;
  • pay date: March 6, 2026

WTI: $66.31.

Active rigs: 26.

No new permits.

One producing well (a DUC) was reported as completed:

  • 41701, 270, Marlo Operating, Tosco Brach 5, Bowman County.
  • SWNE 13-129-104, 1554 FNL 1577 FEL. Wildcat.
    • spud date: 6/22/25
    • date off confidential: 12/22/25
    • permit: 160-acre spacing unit; NW/4 section 18-129-103.
    • Red River pool; wildcat
    • if it weren't for the interest in the Bakken revolution / North Dakota oil industry, this would not have been on my radar scope. 
    • no other information of interest to me in the file report.

*****************************
Marlo Operating

An exploration and and production company.  

Physical address:

  • 8200 Camp Bowie West Boulevard, Suite A, within the NAE Contracting Building, Fort Worth, Texas.

Mailing address:

  • PO Box 470503, Fort Worth Texas, 76147 
File NoCTB NoAPI NoWell TypeWell StatusStatus DateDTDLocationOperatorWell NameField
41258
3301101560OGNC5/27/20259943NENE 19-129-103MARLO OPERATING COMPANY, LLCTOSCO Branch 2WILDCAT
41700
3301101562OGNC6/4/20259508NENE 19-129-103MARLO OPERATING COMPANY, LLCTOSCO Branch 4WILDCAT
41282
3301101561OGNC6/19/20259724SWNE 13-129-104MARLO OPERATING COMPANY, LLCTOSCO Branch 1WILDCAT
41701
3301101563OGA8/24/202510112SWNE 13-129-104MARLO OPERATING COMPANY, LLCTOSCO Branch 5WILDCAT

Webpage: link here.

The Sixth (Fourth) Industrial Revolution -- On Days Like This, The Market Helps To Clear One's Mind -- February 23, 2026

Locator: 50039MARKET.

Wow, talk about a volatile market.

I may or may not post the tickers later, but quite amazing, those companies that most fascinate me right now:

  • AAPL
  • AVGO
  • AMZN
  • MU: down today, but up 262% over the past six months;  
  • GLW
  • SCCO: up 3.3%; up almost $7 / share at the moment, near its high for the day as we move into the last 30 minutes of trading. I think it's closing high was $213 about a month ago; today trading at $208.
  • WMT

For investors, it's on days like this that help clear one mind. 

The most exciting thing for me, as an investor -- this is easily a ten-year journey. The volatility is a huge, huge deal for traders, and for investors, one can zig and zag on a yearly basis. 

With regard to AAPL: Jensen Huang announces plans to get back into laptop CPU business.   

**************************
AVGO

Beth. 

Be sure to read the entire thread.

Part of the thread:

I will continue later. Going biking. It's 58°F with the bright sunshine, no clouds, no wind, it feels like 70, 74.

*************************
Book For The Day

Code Breaker, Walter Isaacson. 

I will finish the book over the next several weeks and then re-read it and do a single page bio on each of the major players -- probably no less than 18 such players.


 

 

 

Rockport Energy Solutions, LLC -- Activity In The Bakken Update -- February 23, 2026

Locator: 50038DOCKETS.

Rockport Energy Solutions with cases in the March, 2026, hearing dockets. Link here.

Past activity in North Dakota. 

File NoCTB NoAPI NoWell TypeWell StatusStatus DateDTDLocationOperatorWell NameField
407312407313305310264OGA10/18/202421780SWNE 15-146-98ROCKPORT ENERGY SOLUTIONS LLCCamden 10-3 3HRANCH COULEE
407552407313305310275OGA10/18/202422695SWNE 15-146-98ROCKPORT ENERGY SOLUTIONS LLCChandler 14-23 1HRANCH COULEE
41831
3305310575SWDA10/26/20256200SWSE 16-146-98ROCKPORT ENERGY SOLUTIONS LLCSofia 16 1 SWDRANCH CREEK
41832
3305310576OGNC7/29/202527108SWSE 16-146-98ROCKPORT ENERGY SOLUTIONS LLCSofia 21-28-33 2HRANCH CREEK
42036
3305310615OGNC7/16/202527383SWSE 16-146-98ROCKPORT ENERGY SOLUTIONS LLCSofia 21-28-33 1HRANCH CREEK
42037
3305310616OGNC8/9/202527080SWSE 16-146-98ROCKPORT ENERGY SOLUTIONS LLCSofia 21-28-33 3HRANCH CREEK
42038
3305310617OGNC8/17/202527390SWSE 16-146-98ROCKPORT ENERGY SOLUTIONS LLCSofia 21-28-33 4HRANCH CREEK
408232408233305310287OGA12/1/202422194NENE 18-146-98ROCKPORT ENERGY SOLUTIONS LLCMary Carson 8-5 1HRANCH CREEK
409092408233305310307OGA12/2/202427210NENE 18-146-98ROCKPORT ENERGY SOLUTIONS LLCMerritt 18-19-30 4HRANCH CREEK
409152408233305310312OGA8/29/202527238NENE 18-146-98ROCKPORT ENERGY SOLUTIONS LLCAnnie 7-6-31 4HRANCH CREEK
42186
3305310658OGNC9/25/202527114NENW 18-146-98ROCKPORT ENERGY SOLUTIONS LLCAnnie 7-6-31 1HRANCH CREEK
42201
3305310664OGNC10/20/202527116NENW 18-146-98ROCKPORT ENERGY SOLUTIONS LLCMerritt 18-19-30 1HRANCH CREEK
42202
3305310665OGNC10/8/202527145NENW 18-146-98ROCKPORT ENERGY SOLUTIONS LLCMerritt 18-19-30 2HRANCH CREEK
42203
3305310666OGNC9/12/202527105NENW 18-146-98ROCKPORT ENERGY SOLUTIONS LLCAnnie 7-6-31 2H

 

Valkyrie Operating, LLC -- Activity In The Bakken Update -- February 23, 2026

Locator: 50037DOCKETS.

Valkyrie Operating with cases in the March, 2026, hearing dockets. Link here.

Past activity in North Dakota. 

File NoCTB NoAPI NoWell TypeWell StatusStatus DateDTDLocationOperatorWell NameField
275971275973302301161OGA8/29/201819150NENE 17-162-100Valkyrie Operating, LLCAABERG 8-5N-1HWEST AMBROSE
40630
3302301538 Confidential  NENE 17-162-100Valkyrie Operating, LLCAaberg 8-5N-2HWEST AMBROSE
40631
3302301539 Confidential  NENE 17-162-100Valkyrie Operating, LLCAaberg 8-5N-3HWEST AMBROSE
261421261423302301091OGA11/15/201919000LOT1 1-162-101Valkyrie Operating, LLCCHARLOTTE 1-12-1HFORTUNA
241851241853302300935OGA3/14/201318445LOT3 3-162-101Valkyrie Operating, LLCLEININGER 3-10-1HFORTUNA
239001239003302300917OGA2/24/201318280LOT1 5-162-101Valkyrie Operating, LLCWIGNESS 5-8-1HFORTUNA
256641256643302301046OGA5/31/202318165SWSE 7-162-101Valkyrie Operating, LLCHECKMAN 7-6-1HFORTUNA
264011264013302301103OGTA1/2/202518760SESE 23-162-101Valkyrie Operating, LLCREISTAD 23-14-1HFORTUNA
270711270713302301133OGTA1/2/202519030SESE 23-162-101Valkyrie Operating, LLCREISTAD 26-35S-1HFORTUNA
102981102983302300251OGIA3/18/20258850SWNE 14-163-99Valkyrie Operating, LLCSTATE-HENNING 32-14-1AMBROSE
103011103013302300252OGA9/27/202411000SWSE 15-163-99Valkyrie Operating, LLCTORGESON 34-15-1AMBROSE
112841112843302300326OGIA11/18/202510983NWNW 18-163-99Valkyrie Operating, LLCPEDERSON 11-18-1WEST AMBROSE
90275
3302390275SWDA10/15/20174800NWNW 32-163-100Valkyrie Operating, LLCJEGLUM 32 #12 SWDGOOSENECK
263061263063302301100OGA10/15/201417942NWNE 30-163-101Valkyrie Operating, LLCBJNJ 30-31-1HBIG DIPPER
289001289003302301255OGA12/11/201718800NENE 30-163-101Valkyrie Operating, LLCBJNJ 19-18N-1HBIG DIPPER
245441245443302300960OGA4/11/201318416SESE 35-163-101Valkyrie Operating, LLCOLSON 35-26-1HGOOSENECK
256681256683302301049OGA10/15/201318888SESE 35-163-101Valkyrie Operating, LLCOLSON 2-11S-1HFORTUNA
106241106243302300274OGAB11/18/202510760NESE 9-163-102Valkyrie Operating, LLCDRAWBOND 9 3SKJERMO