Wednesday, May 10, 2023

Wednesday, May 10, 2023

Locator: 44620E.

Personality of the day: Sandy Dennis. 

Up The Down Staircase, Bel Kaufman, c. 1964, on the NYT best seller list for 64 weeks. One of the first best books I ever read. I was thirteen years old when it was published. Just ordered a copy from Amazon to read again. Paperback edition, but a hard cover for $121 is still available. Books fascinated me then, age thirteen; they still do.

Posted by at

Hunt Oil With Two New Permits; BR With Seven Renewed Permits; One DUC Reported As Completed -- May 10, 2023

Locator: 44619B.

Active rigs: 39.

WTI: $72.56.

Natural gas: $2.191.

Two new permits, #39889 - #39890, inclusive:

  • Operator: Hunt Oil
  • Field: Wolf Bay (Dunn County)
  • Comments:
    • Hunt Oil has permits for two Halliday wells, NESE 14-146-93, 
      • to be sited 2151 FSL and 226 FEL, and 2240 FSL and 327 FSL.

Seven permits renewed:

  • BR: two Croff permits; two Mathistad permits, McKenzie County; and, three Keene permits, Dunn County.

One producing well (a DUC) reported as completed:

  • 37476, 532, Petro-Hunt, Watterud 160-95-14B-23-1HS,
Posted by at

Gasoline Demand -- May 10, 2023

Locator: 44618B.

Link here.


********************
A Musical Interlude

>

Iris DeMent: 

Iris DeMent was born in Paragould, Arkansas, the 14th and youngest child of Pat DeMent (1910–1992) and wife Flora Mae (1918–2011).
Iris's mother had harbored dreams of going to Nashville and starting a singing career. Although she put those plans on hold to get married, her singing voice was an inspiration and influence for her youngest daughter Iris.
DeMent was raised in a Pentecostal household. Her family moved from Arkansas to the Los Angeles area when she was three. While growing up, she was exposed to and influenced by country and gospel music.
Singing at age five as one of "the little DeMent sisters,"Iris had a bad experience when she forgot her words during her first performance, which caused her to avoid performing in public for some time.
DeMent was inspired to write her first song, "Our Town," by a drive through a boarded-up Midwest town at the age of 25. The song lyrics came to her "exactly as it is now," without need for re-writing, and she realized then that songwriting was her calling.
"Our Town" was played during the closing scene for the final episode (July 26, 1995) of CBS's television series Northern Exposure.

Link here.

Posted by at
Labels:

DIS - 2Q23

Locator: 44614SW.    

Streaming: link here. Streaming wars. 

With regard to streaming, DIS+ is not the best option in the streaming sector. And, the "streaming sector" is a bad sector in which to be, in the first place. 

Updates

May 11, 2023: WSJ  finally calls it -- investors are spooked by the loss of subscribers. 

Walt Disney shares slid Thursday after the company reported that income from its traditional television business had declined sharply and its streaming segment is still a long way from achieving profitability.
Shares of the entertainment giant closed down 8.7% at $92.31, their largest percentage decline since November 9, 2022, when they fell over 13%.
The stock was the worst performer in the S&P 500 and Dow Jones Industrial Average for the day.

The drop comes despite Disney sharply reducing losses in its streaming business in the second quarter, helped by higher prices for Disney+. But it also lost about 300,000 subscribers in the U.S. and Canada [earlier reports said 600,000], while its global subscriber count was also sliced due to cancellations in India, where Disney last year lost the rights to stream a popular cricket league that powered new sign-ups.

BUD has a problem; DIS has a bigger problem.

May 11, 2023:

DIS is making BUD look great. LOL. 

IIRC: DIS+ lost 600,000 subscribers in the US this last quarter. DIS+ lost four million subscribers in one quarter --  tries to hide the bleeding by saying almost all of that was in India. But 600K in the US is not trivial.


Most interesting: analysts and "Wall Street" are doing what they can to sugar coat this story. Isn't working.

4:32 p.m. CT: 

In addition, the company is already seeing ripple effects from the writers’ strike, including the production shutdowns of Marvel Studios’ “Blade,” which was set to begin filming in Atlanta next month, as well as the Disney+ Star Wars series “Andor." [Not good. The word on the street is that there is "no end in sight" with regard to the strike. Ouch.]

4:29 p.m. CT:  

Additionally, the company plans to remove more content from its streaming platforms, which it expects will result in impairment charges of between $1.5 billion and $1.8 billion. [That doesn't sound good.]
It also plans to roll out a smaller volume of content going forward. [That doesn't souunt good.]
Disney’s linear TV networks posted $6.63 billion in revenue for the period, down 7% from a year earlier. [That's definitely not good.]
Overall, for the three-month period ended April 1, 2023, Disney reported net income of $1.49 billion, or 69 cents a share, compared with $597 million, or 26 cents a share, a year earlier. [Last year, 26 cents; this year, 69 cents, and this year, adjusted, 93 cents. That's good.]

4:20 p.m. CT: it looks like DIS+ and Hulu are now one? Not sure how this is going to work. Waiting for details. It looks like DIS+ will cost more in the future but Hulu stays the same -- doesn't get DIS+. A one-way street as it were, not a two-way street, unless I'm misreading this. 

Disney has a powerful "family" brand and those with kids will like it, but I don't need DIS+. Actually, all I need is Amazon Prime, but I have to admit, without Hulu I would miss sports. 

But at the end of the day, all I really need is Amazon Prime Video which comes "free" with an Amazon Prime subscription. At the end of the day, Amazon Prime is still a much better deal than DIS+ for me.

3:45 p.m. CT:

Wall Street had expected Disney+ subscriptions to grow less than 1% during the quarter to reach 163.17 million users. However, the service saw a 2% decline in memberships, falling to 157.8 million subscribers from 161.8 million as of December 31, 2023.
The majority of these losses came from an 8% drop in membership at India’s Disney+ Hotstar. An additional 600,000 subscribers were lost domestically.

3:30 p.m. CT: 


Comment: once analysts did into these numbers, they're going to see how really bad they really are. No matter how much make-up you put on Minnie, the miss is still a miss.

Original Post

Link here.

Here are what analysts expect:

  • Earnings per share: 93 cents per share expected.
  • Revenue: $21.79 billion expected.
  • Disney+ total subscriptions: 163.17 million expected.

Posted by at

A Well Drilled In 2015 With Small Jump In Production -- May 10, 2023

Locator: 44617B. 

The well:

  • 27384, 1,844, XTO, Berquist 31X-2D, Garden, t1/15; cum 186K 5/18; cum 239K 6/21; off line 7/21; cum 250K 3/23; 

Recent production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-20233131753061250311948116500
BAKKEN2-20232834423598227910762104940
BAKKEN1-20231535292939170388598029684
BAKKEN12-20220000000
BAKKEN11-20220000000
BAKKEN10-2022574874911918778131062
BAKKEN9-20220000000
BAKKEN8-20220000000
BAKKEN7-202210860000
BAKKEN6-20220000000
BAKKEN5-20220000000
BAKKEN4-20220000000
BAKKEN3-20220000000
BAKKEN2-20220000000
BAKKEN1-20220000000
BAKKEN12-20210000000
BAKKEN11-20210000000
BAKKEN10-20210000000
BAKKEN9-20210000000
BAKKEN8-20210000000
BAKKEN7-2021830240516141913790
BAKKEN6-20213016331554744679766100
BAKKEN5-20213117641704725614259530
BAKKEN4-20213017511775654570955310
BAKKEN3-202131246528161155740971130
BAKKEN2-202126227618371028591237791908
BAKKEN1-20210000000
BAKKEN12-20200000000
BAKKEN11-20200000000
BAKKEN10-2020133010707
BAKKEN9-20203013611463863595157690
BAKKEN8-20203115321474791641962230
BAKKEN7-20203115631440877658263860
BAKKEN6-20203018441681525690467150
BAKKEN5-20203115321846886576955800
BAKKEN4-202030202217761064634861590
BAKKEN3-202031239126691345658462900

Posted by at
Subscribe to: Posts (Atom)