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Title : Boom! Permian Acres Sell For $95,001 -- Septermber 10, 2018
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Boom! Permian Acres Sell For $95,001 -- Septermber 10, 2018

Hold on to your hats. See "Permian auction" below -- under "fast and furious."

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on anything you read here or think you may have read here.

Opening remarks: I've been investing as a small investor since 1984. There have been some rough patches and I've "left a lot of money on the table," as they say. Ope! But in the big scheme of things, I've loved it; I've learned a lot; it kept me "involved"; and, I will leave the granddaughters a portfolio with which they should have some fun. I don't think I've ever seen a more exciting market and it's exciting for several reasons:

• a tectonic change in thinking in the White House
• millenials
• technology
• "open book" test every day -- so much information available
• numerous trading vehicles and instruments
• instantaneous trades
• tax changes favoring investors
• commissions on trades are going to zero (which, by the way, will have big implications for at least two well-known discount brokers)
• energy
• US will be a net exporter of energy this next century while the rest of the world, for the most part, will be net energy importers

Fast and furious: the movie I'm watching --

• rabbit holes and Ope! -- 
• end of driving season, and the price of gasoline in our area has not dropped; if anything it has increased a bit
• supposedly, on threats from Trump, Saudi has increased oil exports to the US; link here;
• apparently the EIA did not get the memo; link here;
• Canadian crude prices plunge again; link here; 
• Dow, irrelevant, looks to open over 100 points higher
• WTI: holding, maybe up a little bit
• dead cat bounce? Maybe not. Last week I noted that Tesla was selling 10x the number of EVs as its nearest competitor; then Motley Fool noted it; today, I see TSLA should open higher

Boom: Permian auction doubles 20008 record, link here;

• near billion-dollar sale
• on the New Mexico side of the Permian Basin
• $95,001 / acre
• federal government auction
• a record high for North America's biggest oil field
• previous record: $40,001
• for newbies: there's a reason the bid ends in a single dollar
• two-day auction: 142 parcels
• raised almost one billion dollalrs
• total was more than the whole of 2017 and double the 2008 record
• Federal Abstract Co, Santa Fe, bids for a number of anonymous investors -- the record bidder -- a near-$400-million for 17 tracts
• the logical buyers: EOG, Devon, Exxon, and Chevron

************************************

Back to the Bakken

Wells coming off the confidential list over the weekend, today --
Monday, September 10, 2018
34632, conf, MRO, Lars 14-8H, Killdeer, no production data,
33521, conf, Enerplus, Vinson 148-95-12D-01H-TF, Eagle Nest, a very nice well;

Sunday, September 9, 2018
33846, conf, WPX, Otter Woman 34-27HG, Mandaree, no production data,
32132, conf, CLR, Burr Federal 5-26H, Sanish, early production;

Saturday, September 8, 2018
33522, conf, Enerplus, Evans 148-95-12D-01H, Eagle Nest, a nice well; 
33520, conf, Enerplus, Blanc 148-95-12D-01H, Eagle Nest, a nice well; 
32963, conf, Oasis, Ceynar 5198 12-5 6B, Banks, a very nice well;

Active rigs:
 

$68.24↑	9/10/2018	09/10/2017	09/10/2016	09/10/2015	09/10/2014
Active Rigs	66	55	37	70	199

RBN Energy: local frack sand spreads to Eagle Ford and SCOOP/STACK.

https://ift.tt/2dZyQXu

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