Daily Bakken Operations Report
Wells coming off the confidential list, August 21, 2012
- 20076, 273, EOG, Vanville 15-1102H, Thompson Lake, t3/12; cum 23K 6/12;
- 20417, drl, XTO, FBIR Goeseverywhere 31X-11, Heart Butte, s2/12;
- 21239, 1,315, EOG, Wayzetta 156-3329H, Parshall, t3/12; cum 116K 6/12;
- 21770, drl, BEXP, Domaskin 30-31 2H, Alger, s2/12;
- 21852, 1,526, MRO, One Feather USA 31-17H, Deep Water Creek Bay, t5/12; cum 17K 6/12;
- 21931, 427, Hess, GO-Elvin Garfield-156-97-1918H-1, Dollar Joe, t6/12; cum 10K 6/12;
- 22038, 1,025, Oasis, Willie 5992 12-8H, Cottonwood, t3/12; cum 23K 6/12;
- 22045, drl, Oasis, Acklins 6092 12-18H, Cottonwood, s1/12; cum 19K 6/12;
- 22217, 356, CLR, Barmoen 1-18H, Stoneview, t5/12; cum 10K 6/12;
- 22220, 1,962, Oasis, Jefferies 5301 43-12B, Baker, t4/12; cum 47K 6/12
Record August gasoline prices
Gasoline in the US is now at the highest price ever paid on this date
U.S. drivers paid an average of $3.72 per gallon on Monday. That's the highest price ever on this date, according to auto club AAA, a shade above the $3.717 average on Aug. 20, 2008. A year ago, the average was $3.578.
I wish we were paying $3.72 in Los Angeles. In downtown LA, the price is over $5.00/gallon. In the metropolitan area, mostly $4.19/gallon. This is truly crazy. I believe in January, 2008, the price was about $2.20/gallon. So "we've" doubled the price of gasoline despite an economy that appears to be headed nowhere.
President Obama earlier this summer: the private sector is doing fine. If you are not talking about the price of gasoline on Tuesday morning, I will be surprised. Fortunately the private sector is doing fine and can handle the doubling of price of gasoline.
Related: High price of oil
Devils Lake project fast-tracked
Devils Lake project fast-tracked
The federal government will fast-track environmental reviews this winter so that construction can begin on raising the rails of BNSF tracks (owned by Warren Buffett) in flood-prone Devils Lake, North Dakota.
The federal government awarded $10 million for the project. The entire project will cost $100 million. BNSF is owned by Warren Buffett who has said he feels he should pay more taxes than his secretary. I have no idea why the federal government is sending more cash to North Dakota but ... it is what it is. I don't think North Dakota is a swing state in this fall's election. Again, something you will be discussing Tuesday morning.
Germany burning more coal
Chancellor Angela Merkel’s government says RWE AG’s new power plant that can supply 3.4 million homes aids her plan to exit nuclear energy and switch to cleaner forms of generation. It’s fired with coal.Now that US CO2 emissions are the lowest in 20 years, "we" have a bit of breathing room for Germany to start adding more CO2 to the mix.
The startup of the 2,200-megawatt station near Cologne last week shows how Europe’s largest economy is relying more on the most-polluting fuel. Coal consumption has risen 4.9 percent since Merkel announced a plan to start shutting the country’s atomic reactors after last year’s Fukushima disaster in Japan.
New York State to allow fracking: their Pennsylvania neighbors are driving new tractors
New York to allow fracking: huge, huge story
I heard this story on the news today. Faux environmentalists say fluids used in fracking cause cancer. New York farmers said they have not seen any increase in cancer, but they have seen the farmers in Pennsylvania (where fracking is allowed) driving new tractors. It should be noted that the same fluids used in fracking are commonly found / used in car dealerships and high school chemistry laboratories,
For investors only
KOG: a strong buy at current prices, SeekingAlpha
KOG: a takeover candidate, Wall Street Cheat Sheet
NOG: bullish reasons to invest in the Bakken, Mike Filloon, SeekingAlpha
KOG: poised to pop, Motley Fool
Gee, is KOG the darling of Wall Street, or what?