From Social Media Today -- March 9, 2021

Link here. This is quite amazing when you think about it: Saudi exporting only 5.84 million bopd. The Permian oil basin produces around 4.5 million bopd.

And this seems to be "false precision," estimating a global shortage of 380,000 bopd this year and even less, 130,000 bopd in 2022.

And then this.

Link here. 

How can analysts and experts be so far off?

• consensus forecast: a build of 800K;
• actual: a build of almost 13 million bbls

That's API data. We'll see the EIA data tomorrow.

Meanwhile, US oil production jumped 300K bopd to 10.0 million bopd. 

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My New Look

I think these make me look ten years younger. LOL.

Photo by Sophia:

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A Musical Interlude
Ed Bruce
  

Ed Bruce:

• December 29, 1939 -- January 8, 2021 (just a couple of months ago)
• wrote Mammas Don't Let Your Babies Grow Up to Be Cowboys
• mostly wrote commercial jingles
• Thirty-nine And Holding
• Jerry Lee Lewis also recorded a Thirty-nine And Holding, but a completely different song

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Liberace 

This is from 1955. 

I saw Liberace live on stage in Las Vegas in 1977 (or thereabouts). He did this exact act -- same jokes -- identical to that in this clip. Imagine, doing this twice a night for twenty-five years.

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I Came For The Dancing, Stayed For The Music

Hot Wheels Sophia -- March 9, 2021

Coolest thing since sliced bread: day rates at southern California pools. Link at LA Times. No matter how you slice it, this is really, really cool:

L.A. is chock-full of phenomenal pools, spectacular spas and supercool five-star hotels just waiting for us to explore. Now there’s a way to do that without spending $500 a night.

It’s called a day pass. For as little as $20, you receive access to pools and other hotel amenities. Spend a day lounging beside a posh pool, drinking margaritas and nibbling on fish tacos while palm trees sway overhead. Then return home — all without paying a room charge.

Some of the most popular day-pass bargains can be found at rooftop pools that overlook Los Angeles, with spectacular views from the Hollywood Hills to the Pacific Ocean. You can grab a lounge chair and while away the day by yourself or visit with friends and splurge on a cabana, which may set you back $300.

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Hot Wheels

CLR With Three More Permits In The Long Creek Unit; Four DUCs Reported Completed; Seventeen Permits Renewed -- March 9, 2021

Active rigs:

$64.01	3/9/2021	03/09/2020	03/09/2019	03/09/2018	03/09/2017
Active Rigs	15	55	67	59	43

Four new permits, #32801 - #38204, inclusive:

• Operators: CLR (3); Whiting
• Fields: Long Creek (Williams); Sanish (Mountrail) -- this is the first new permit in the Sanish in calendar year 2021, so far;
  
• Comments:
• Whiting has a permit for one more well in the Sanish, 
• 38204, conf, Whiting, section NWNW 13-154-92, 245 FNL 370 FWL;
• CLR has permits for three more wells in the huge Long Creek Unit;
• 38201, conf, CLR, LCU Foster Federal 4-28H, Long Creek, NENW 28-153-99; 666 FNL 1853 FWL
• 38202, conf, CLR, LCU Foster Federal 3-28H1, Long Creek, NENW 28-153-99; 625 FNL 1872 FWL
• 38203, conf, CLR, LCU Foster Federal 2-28H, Long Creek, NENW 28-153-99, 584 FNL 1891 FWL

Four producing wells (DUCs) reported as completed:

• 36238, drl/A, Slawson, Periscope Federal 1 SLH, Big Bend, no production data;
• 37160, drl/A, Slawson, Motune Federal 1-10-15H, Big Bend, no production data,
• 33624, drl/A, Slawson, Gunslinger Federal 7-1-12TFH, Sand Creek, no production data,
• 36005, loc/A, BR, Kermit 3-8-32UTFH, Pershing, no production data

Seventeen permits renewed:

• Liberty Resources Management Company (7): four Albertson permits in Mountrail County; one each, Herseth permit, a Holmen permit, and a Blomquist permit, all three in Burke County
• Crescent Point Energy (6): six CPEUSC Reed permits, all in Williams County;
• CLR (2): two Gordon Federal permits in Dunn County;
• Resource Energy Can-Am, a Shorty permit in Divide County;
• Enerplus: a Cutthroat permit in Dunn County;

"Damn The Torpedoes, Full Speed Ahead" -- CLR With Three More Long Creek Unit Permits -- March 9, 2021

CLR's Long Creek Unit is tracked here. 

To what is already there, add these:

• 38201, conf, CLR, LCU Foster Federal 4-28H, Long Creek, NENW 28-153-99; 666 FNL 1853 FWL
• 38202, conf, CLR, LCU Foster Federal 3-28H1, Long Creek, NENW 28-153-99; 625 FNL 1872 FWL
• 38203, conf, CLR, LCU Foster Federal 2-28H, Long Creek, NENW 28-153-99, 584 FNL 1891 FWL

From April 14, 2021:

Now, March 9, 2021, ten more wells:

• add a 1x7 well pad;
• add a 1x3 well pad.

Morning Notes -- March 9, 2021

For the archives; not recommendations. 

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.

First things first:

Selected tickers:

• TSLA up over 13%.
• AAPL up 4%.
• UNP: up another 0.9%.
• CVX: flat, slightly negative.
• COP: flat, slightly positive.
  
• EPD: up 1.25%.
• SRE: up 1%.