Sunday, July 14, 2013

They Never Give Up, Do They? The Solar Enthusiasts

Japan is in a "world of hurt" with regard to energy -- it shut down all its nuclear reactors after the disaster some years ago.

Some in Japan see the need to re-start those nuclear reactors. But, Bloomberg is reporting:
[Japan's] new safety standards are high enough that it will take years for some nuclear facilities to comply. Meanwhile, Japan is under tremendous economic pressure to restart reactors. A weakening yen has made its increased imports of fossil fuels even more expensive. In the year that ended March 31, the country’s nine utilities with atomic plants ran up losses totaling 1.59 trillion yen ($16 billion).
And then this in Bloomberg:
Greater investment in energy efficiency and in solar and other renewable power sources could ease the pressure.
Hello! Japan has no available land for solar farms and somehow I don't think off-shore wind turbines are in the cards. But "they" never give up, do they?

Low Cost Energy Gives North Dakota Manufacturers A Financial Edge

The Bismarck Tribune is reporting.
On a national scale, cheap natural gas retrieved through fracking is being credited with helping to resurrect the manufacturing industry.
On the state level, affordable energy means lower overhead costs for North Dakota manufacturers. Meanwhile, the state is looking for other benefits it could provide.
Many manufacturers in the state use natural gas to heat large buildings. Others, like Bobcat in Bismarck and Baker Boy and Steffes Corp. in Dickinson, also use it for production.
And this:
The projects include fertilizer plants that use natural gas to make their products, a natural gas-fired unit at the Heskett Plant, plans for a new MDU Resources natural gas pipeline and two diesel fuel refineries.
“Natural gas liquids provide a huge opportunity to add value to our state’s energy resources, The study will determine where the low hanging fruit may exist,” Ness said.
What should surprise North Dakotans is all this talk about natural gas and natural gas liquids. The Bakken is an oil play; NG and NGLs are by-products that used to be as popular as lutefisk among the operators. 

I personally think server farms in Fargo and fertilizer plants hold the most promise for North Dakota as far alternative industries go. 

The state certainly doesn't have the work force to manufacture small aircraft but one has to ask the question whether expanding and promoting pilot training at UND might be in the cards. A lot of oil millionaires in the state who now have the money and time to get the training, and there is a need for air transportation for oil-company and oil-service-company managers and roughnecks, across the entire Rocky Mountain oil sector: North Dakota north to Canada, and south to Oklahoma; west to Montana, Wyoming, and Colorado.

Whiting's Drilling Plan For The Bakken/Three Forks, Williston Basin, North Dakota And Montana

From Whiting's June corporate presentation:


For newbies: note three things that jump out at regular readers --
  • look at how WLL plans to drill the middle Bakken in some locations -- two zones
  • look at how WLL plans to drill the 1st bench/Three Forks in some locations -- two zones
  • the third bench of the Three Forks is not yet a target

Mike Filloon's Look At EOG's Parshall Wells

Updates

Starting August 10, 2014, I did not post any EOG Wayzetta or EOG Austin wells on this page because they are posted elsewhere.

File number, total production as of date stated. The well's legal name, IP, and test date are also included for wells with more than 500,000 bbls total production as of date specified:

2013
25374, 1,414, EOG, Austin 39-3204H, Parshall, t9/13; cum 1.004672 million bbls 7/18; watch this one go over 1 million bbls; still not on a pump;
Due to the huge number of EOG permits at this point, I won't complete this for now; perhaps later; will target "families" of wells, and those wells that provide new information about the Bakken and how it is being developed. By 2013, EOG was turning to longer laterals and more intensive fracking.

EOG's permits in 2009 (all wells are one-section wells, short laterals):
18365, 338K 10/18;  inactive since 3/15 (work-over rig on site); back on status 6/15; off line again 4/18; back on line 9/18/
18569, 354K 5/19;
18565, PNC, Clear Water,
18563, PNC, Clear Water,
18562, 135K 10/18; Alger; IA since 10/18;
18555, 226K 5/19; Clear Water,
18539, 196K 5/19; Clear Water,
18538, 247K 5/19; Painted Woods, IA as of 5/19;
18535, 159K 5/19; Clear Water,
18532, 117K 5/19; Clear Water,
18529, PNC, Clear Water,
18519, 148K 5/19; Clear Water 
18516, PNC, Clear Water,
18512, PNC, Clear Water,
18509, 149K 5/19;
18505, 189K 5/19;
18504, 2,195, EOG, Van Hook 7-23H, Van Hook, t5/10; cum 597K 5/19;
18493, 254K 5/19;
18490, PNC, Clear Water,
18484, 134K 5/19;
18482, PNC, Clear Water,
18479, 170K 5/19;
18478, PNC, Clear Water,
18474, PNC, Clear Water,
18473, 2269K 5/19;
18468, 136K 5/19;
18465, PNC, Clear Water,
18464, 207K 5/19;
18461, 109K 5/19;
18459, PNC, Parshall,
18454, 128K 5/19;
18449, 107K 5/19;
18444, 128K 5/19;
18438, 113K 5/19;
18432, 310K 5/19;
18422, 109K 5/19;
18412, PA/3K 11/13;
18411, 212K 5/19;
18403, 250K 5/19;
18398, TA/45K 11/13;
18391, 131K 5/19;
18376, TA/70K 11/13;
18366, IA/276K 5/19;
18338, TA, Fertile 28-26H, Parshall,
18337, 135K 5/19;
18329, 86K 11/13;
18319, 595K 10/18;
18315, 70K 11/13;
18310, 92K 11/13;
18305, 83K 11/13;
18301, TA/130K 11/18;
18292, 85K 11/13;
18289, 70K 11/13;
18273, 97K 11/13;
18257, 101K 11/13;
18251, PA/1,389; 403K 1/14; June 1, 2016: request for well to be put on inactive status; well needs to be repaired, but at current commodity prices, wants to wait;
18231, 71K 11/13;
18214, 167K 11/13;
18208, PNC, Parshall,
18203, 177K 11/13;
18181, 88K 11/13;
18178, PNC, Parshall;
18172, 112K 11/13;
18171, 572, EOG, Lucille 22-06H, Parshall, t9/09; cum 769K 5/19;
18164, 187K 11/13;
18163, cum 112K 11/16; off-line as of 2/16; struggling 10/18;
18157, cum 230K 11/16;
18150, cum 135K 11/16;
18148, cum 137K 11/16;
18147, 128K 11/13;
18139, 130K 11/13;
18121, 70K 11/13; cum 94K 4/18;
18118, 68K 11/13;
18117, 161K 11/13;
18110, 190K 11/13;
18108, 191K 11/13;
18101, 151K 11/13;
18097, 120K 11/13;
18073, 124K 11/13;
18066, 90K 11/13;
18065, 84K 11/13;
18062, 98K 11/13;
18061, 128K 11/13;
18057, cum 346K 5/19; off line as of 4/18; back on line as of 9/18;
18041, PNC, wildcat,
18038, 329K 10/18;
18024, 93K 11/13;
18023, 78K 11/13;
18010, 341K 11/16;
17997, 172K 11/13;
17996, 19K 11/13;
17995, PNC, wildcat,
17988, PNC, wildcat,
17977, PNC, Thompson Lake,
17972, cum 410K 5/19;
17951, cum 74K 5/19;
17950, 106K 11/13;
17949, 50K 11/13;

EOG's permits in 2008 (all wells are one-section wells, short laterals):
17938, PNC, Van Hook,
17937, Cottonwood, 123K 11/13;
17936, PNC, Stanley oil field,
17934, cum 356K 5/19;
17933, 240K 11/13;
17932, PNC, Parshall,
17913, 45K 11/3;
17911, 91K 11/13;
17910, 153K 11/13;
17888, 157K 11/13;
17870, cum 276K 7/15;
17862, 53K 11/13;
17851, 184K 11/13;
17850, 116K 11/13;
17834, 839, EOG, Wayzetta 16-09H, Parshall, t7/09; cum 515K 5/19;
17828, 127K 11/13;
17798, 67K 11/13;
17795, 109K 11/13;
17780, 26K 11/13; Clear Water
17775, 164K 11/13;
17754, 208K 5/19;
17732, 895, EOG, Wayzetta 17029H, Parshall, t6/09; cum 477K 5/19;
17728, 75K 11/13;
17727, 140K 11/13;
17689, cum 389K 5/19; Stanley oil field,
17676, 128K 11/13;
17627, cum 372K 5/19;
17621, 180K 11/13;
17620, 221K 11/13;
17619, 1,571, EOG, Van Hook 6-14H, Van Hook, t12/08; cum 664K 5/19;
17614, 1,595, EOG, Austin 20-29H, Parshall, t9/09; cum 816K 5/19; was off line for a couple of months; back on line10/18;
17613, 690, EOG, Van Hook 2-24H, Van Hook, t7/09; cum 570K 5/19; went inactive 7/15; back on-line 8/15;
17580, 242K 11/13;
17543, 86K 11/13;
17542, 99K 11/13;
17539, 1,200, EOG, Austin 14-18H, Parshall, t11/08; cum 626K 5/19;
17531, 143K 11/13;
17526, 146K 11/13;
17523, 174K 5/19;
17522, cum 381K 5/19;
17500, 2,162, EOG, Austin 19-30H, Parshall, t11/08; cum 898K 10/18; (one section) -- off line as of 8/18;
17490, 116K 11/13;
17487, 136K 11/13;
17486, 166K 11/13;
17485, cum 293K 5/19;
17478, cum 483K 5/19;
17475, cum 510K 5/19;
17470, 1,334, EOG, Austin 17-20H, Parshall , t6/09; cum 764K 5/19; was off line for a couple of months; back on line as of 10/18;
17469, cum 305K 5/19;
17463, TA/cum 361K 10/15;
17416, 1,124, EOG, Austin 16-19H, Parshall, t7/09; cum 884K 5/19;(one section)
17414, cum 358K 11/15;
17410, 148K 11/13;
17409, 221K 11/13;
17386, 2,205, EOG, Austin 15-17H, Parshall, t11/08; cum 740K 5/19; was off line for three months; back on line 10/18; small jump in production;
17366, cum 523K 5/19;
17346, 1,853, EOG, Austin 13-08H, Parshall, t10/08; cum 676K 5/19;
17301, 166K 11/13;
17296, cum 312K 11/15;
17295, cum 270K 11/15;
17294, 405K 5/19;
17290, 266K 9/15;
17287,  1,137, EOG, Austin 22-31H, Parshall, t10/08; cum 909K 5/19; off-line as of 8/15; back on-line as of 11/15; now below 1,000 bbls/month (9/18; needs to be re-fracked;
17281, cum 469K 9/18;
17280, n/d, EOG, Van Hook 5-11H, Parshall, n/d; cum 639K 10/18;
17277, 236K 11/13;
17227, 2,191, EOG, Austin 21-28H, Parshall, t8/08; cum 1.074894 million bbls 5/19; (one section); in-depth here;
17222, 1,769, EOG, Austin 18-21H, Parshall, t9/08; cum 976K 5/19; INACTIVE as of 2/16; back on status as of 6/16;
17215, 2,227, EOG, Austin 27-10H, Parshall, t12/08; cum 674K 5/19;
17205, 86K 11/13;
17189, cum 337K 11/15;
17184, 113K 11/13;
17177, cum 468K 10/18;
17170, cum 494K 10/18;
17155, 281K 11/13;
17152, 937, EOG, Wayzetta 15-05H, Parshall, t7/09; cum 671K 9/18;
17151, 142K 11/13;
17142, 1,055, EOG, Wayzetta 12-20H, Parshall, t9/08; cum 602K 10/18;
17129, cum 493K 11/15;
17127, 1,714, EOG, Wayzetta 11-08H, Parshall, t11/08; cum 660K 6/15;
17122, 581, EOG, Austin 23-32H, Parshall, t8/09; cum 605K 6/15;
17121, cum 441K 11/15;
17120, 2,051, EOG, Austin 10-34H, one section, open hole, 2 million lbs, t8/08; cum 1.002679 million bbls; 7/18; INACTIVE as of 3/16; back on status as of 7/16; look at production profile;
17111, 1,341, EOG, Austin 24-33H, one section, open hole 1.6 million lbs, t6/09; cum 867K 11/18; INACTIVE as of 5/16; active as of 7/16;
17083, cum 447K 7/18;
17078, 1,212, EOG, Austin 25-35H, one section, open hole 1.9 million lbs, t10/08; cum 495K 7/18;
17075, 2,310, EOG, Austin 9-11H, Parshall, t6/08; cum 727K 11/18;
17068, cum 374K 7/18;
17058, IA --> SWD;
17051, cum 399K 7/18;
17044, cum 549K 7/18;
17042, cum 541K 7/18;
17041, cum 383K 7/18;
17037, 1,167, EOG, Parshall 7-23H, t5/08; cum 313K 7/18;
17034, 1,012, EOG, Parshall 8-24H, t11/08; cum 201K 7/18;
17030, 1,967, EOG, Skaar 7-10H, Parshall, t6/08; cum 826K 9/18;
17028, 2,207, EOG, Wayzetta 14-02H, Parshall, t10/08; cum 648K 7/18;
17027, PNC, wildcat
17026, cum 68K 7/18;
17019, cum 531K 7/18;
17011, 1,663, EOG, Parshall 4-20H, t7/08; cum 436K 11/18; IA as of 5/14; shut in while EOG executes a downspacing and infill drilling program; dated August, 2014; active as of 3/16;
17005, 1,121, EOG, Parshall 5-21H, t7/08; cum 379K 7/18;
16954, IA/3,633, EOG, Austin 6-15H, Parshall, t4/08; cum 838K 5/19; (one section); went inactive 5/19; 
16885, 3,070, EOG, Austin 8-26H, Parshall, t2/08; cum 797K 5/19; (one section) 

Original Post

Mike Filloon in SeekingAlpha, July 14, 2013:

EOG completed 22 wells in 2006 and 2007; file number, cumulative oil in bbls as of October, 2013:
  • 16370, 1,553, EOG, Warberg 1-25H, t1/07; cum 449K 7/18;
  • 16371, 918, EOG, Ehlert 1-35H, t4/07; cum 535K 7/18;
  • 16469, 1,267, EOG, Herbert 1-26H, t12/07; cum 575K 7/18;
  • 16483, 870, EOG, Zacher 1-24H, t6/07; cum 612K 7/18;
  • 16550, 1,329, EOG, Ralph 1-32H, t9/07; cum 446K 7/18;
  • 16578, 817, EOG, Risan 1-34H, t907; cum 476K 7/18;
  • 16671, 1,198, EOG, Cormylo 1-23HH, t10/07; cum 544K 7/18;
  • 16713, Austin, cum 591K 7/18;
  • 16768, Austin, cum 655K 7/18;
  • 16795, Austin, cum 704K 7/18; see this post;
  • 16164, 463, EOG, Parshall 1-36H, t6/07; cum 229K 7/18;
  • 16324,  883, EOG, Parshall 2-36H, t9/07; cum 378K 7/18;
  • 16346, 1,800, EOG, Bartleson 1-3H, t10/07; cum 536K 7/18;
  • 16457, 922, EOG, C&B 1-31H, t5/07; cum 468K 7/18;
  • 16461, 1,487, EOG,Patten 1-02H, t3/07; cum 530K 7/18;
  • 16467, 783, EOG, Geving 1-09H, t8/07; cum 397K 7/18;
  • 16497, 1,675, EOG, Hoff 1-10H, t6/07; cum 486K 7/18;
  • 16532, TA/IA/1,285, EOG, N&D 1-05H, t7/07; cum 472K 7/18; inactive as of 10/17;
  • 16543, 1,015, EOG, Florence 1-04H, t7/07; cum 518K 7/18;
  • 16635, 581, EOG, Sampson 1-12H, t12/07; cum 260K 7/18;
  • 16637, 970, EOG, Long 1-01H, t10/07; cum 430K 7/18;
  • 16776, 864, Hunt, Bowman 1-18H, t12/07; cum 330K 5/19;
One of these wells is on pace to produce revenues over $100 million (the link takes you to a Mike Filloon contribution over at Seeking Alpha; at some point the link will probably be broken. Mike is talking about EURs when he says "on track to produce...")

Filloon: "EOG used mainly short laterals with tight stages and large amounts of water and proppant. EOG has kept its wells on a very tight choke, but has opened its wells up some in 2012 and 2013. It has kept its costs down by self sourcing sand, and being very good at cutting costs. It was also the first operator to rail Bakken crude to St. James for LLS pricing. This significantly increased crude revenues, obtaining LLS pricing."

The wells have produced for about six to seven years; they still have more than 30 years of production.

WHAT DIFFERENCE DOES IT MAKE?

The Wall Street Journal is reporting:
President Obama's announcement on July 2 that he is suspending the Affordable Care Act's employer health-insurance mandate may well have exposed his actions to judicial review—even though that is clearly what he sought to avoid.
The health-care reform law's employer mandate requires businesses with more than 50 employees to provide a congressionally prescribed set of health-insurance benefits or pay a penalty calculated at about $2,000 per employee. The law was to take effect on Jan. 1, 2014, but Mr. Obama has "postponed" its application until 2015. His aim, the administration said, was to give employers more time to comply with the new rules. But it was also seen as a way to avoid paying at least part of ObamaCare's mounting political price in the 2014 congressional elections.
Whatever the reason, the president does not have the power to stop the implementation of a law. If there is one bedrock constitutional legal principle, it is that the president must "faithfully execute" federal statutes. He cannot suspend laws he dislikes on policy grounds or because he fears their political consequences. 
When the president was sworn in, he took an oath to uphold the laws of the land.

Unless he had his fingers crossed. 

Parshall: "More Productive" Than The Sanish -- Filloon

In SeekingAlpha: EOG, Whiting well "prove" Parshall oil field more productive than the Sanish -- Mike Filloon.

There is so much in the article, it is a disservice to print even a snippet, but here it is, to give you an idea of how much Mike packs in one paragraph (which I've broken up a bit to make it easier on the eyes):
The above results are incredible. Using $90/Bbl crude and $4/Mcf, we see significant earnings in Parshall Field. The average well produced over $35 million in revenues. Granted, the gas lines may not have been in, and oil prices did sink during "The Great Recession," but I had to use a set price for comparison. Its wells have produced a little over five and a half years. This leaves another 30 to 35 years of production. Depending on the model used, we could see these revenues double over the life of all these wells. This would bring the average to over $70 million/well. I would guess these wells will not model like current completions.
Most of these wells used no ceramic proppant.
Given the depth and pressure, we could see the sand crushed under the weight of the formation. This would shut off the resource to the well. There is a chance that EOG's numbers outperform due to where it drilled middle Bakken wells. Most of its wells were drilled diagonally through each mile.
This could be the best area of the shale to drill and complete, but it makes pad drilling a little worrisome.
Whiting did a nice job of planning ahead so it could infill easier, with less worry about communication between wells.

Gradually Moving Toward A State of Low Income Retirees

I'm out visiting family in California.

One of my wife's closest friends will be moving to Florida next year upon retirement. They are upper income retirement folks and though they love it in California, the tax advantages in Florida are too good to ignore.

The demographic pendulum of California retirees will gradually swing to those with lower retirement income. Higher retirement income folks will move to Florida. This is not all bad news for California.

The property tax argument doesn't hold up .. it might be counter-intuitive, but I will let readers ponder why I say that.

I don't know if California retirees move to Florida or whether that's a myth. At least one other person thinks so:
"You may not know this, but today almost 1,000 people a day are moving to the state of Florida," he said at a rally by Americans for Prosperity Florida on March 19, 2013. "Do you know why they're coming here? Because they are more free here than they are in some other states."
The author at that blog disagrees. 

Some Spectacular Wells Coming Off The Confidential List Over The Weekend, Monday: Oasis, Murex, Halcon, BR, WPX All With Nice Wells;10/18 Wells To DRL Status

Monday, July 15, 2013
  • 21275, drl, Enerplus Resources, Music 148-93-18D-07-4H TF, McGregory Buttes, no data,
  • 22313, 1,545, HRC, Fort Berthold 148-94-28A-33-2H, McGregory Buttes, t4/13; cum 19K 5/13;
  • 23017, 4,174, Oasis, Ashlin 5300 44-12B, Willow Creek, t2/13; cum 82K 5/13;
  • 23018, 2,559, Oasis, Andy 5300 44-12T, Willow Creek, t2/13; cum 51K 5/13;
  • 23633, drl, Statoil, Michael Owan 26-35 2TFH, Painted Woods, no data,
  • 23788, drl, XTO, Thorp Federal 11X-28F, Little Knife, no data,
  • 24132, drl, XTO, FBIR Walterpackswolf 31X-12D, Heart Butte, no data,
  • 24340, 658, Hunt Oil, Frazier 1-24-13HTF, Frazier, t4/13; cum 22K 5/13;
  • 24388, drl, Hess, EN-Uran A 154-93-1522H-2, Robinson Lake, no data,
  • 24685, drl, QEP, G. Levang 13-32/29H, Grail, no data,
Sunday, July 14, 2013
  • 21858, 206, CLR,, Knutson 1-15H, Stoneview, t5/13; cum 3K 5/13;
  • 23460, 1,450, MRO, Hansen Ranch USA 44-10H, Bailey, t5/13; cum 19K 5/13;
Saturday, July 13, 2013
  • 22912, 2,972, BR, Old Hickory 14-33TFH, Sand Creek, 4-sec spacing, t5/13; cum 12K 5/13;
  • 23303, 2,888, WPX, Blackhawk 1-12H, Moccasin Creek, t11/12; cum 78K 5/13;
  • 23990, 3,657, Statoil, Beaux 18-19 2TFH, Banks, t8/13; cum --
  • 24389, drl, Hess, EN-Uran A 154-93-1522H-3, Robinson Lake, no data,
  • 24456, drl, CLR, Hawkinson 14-22H2, Oakdale, no data,
  • 24686, drl, QEP, G. Levang 13-32/29H, Grail, no data
**********************************

 22313, see above, HRC, Fort Berthold 148-94-28A-33-2H, McGregory Buttes:

DateOil RunsMCF Sold
5-201389620
4-201396160

23017, see above, Oasis, Ashlin 5300 44-12B, Willow Creek:

DateOil RunsMCF Sold
5-20131339310867
4-20131451512802
3-20131603117188
2-2013234808006
1-2013137300

23018, see above, Oasis, Andy 5300 44-12T, Willow Creek:

DateOil RunsMCF Sold
5-201362934724
4-20131448713184
3-20131336610470
2-2013135327712
1-201325670


24340, see above, Hunt Oil, Frazier 1-24-13HTF, Frazier:

DateOil RunsMCF Sold
5-201391010
4-2013112270
3-201310300


23460, see above, MRO, Hansen Ranch USA 44-10H, Bailey:

DateOil RunsMCF Sold
5-2013184126004

22912, see above, BR, Old Hickory 14-33TFH, Sand Creek:

DateOil RunsMCF Sold
5-2013115860

23303, see above, WPX, Blackhawk 1-12H, Moccasin Creek:

DateOil RunsMCF Sold
5-2013336470
4-2013282896859

For The Archives: North Dakota Oil Production

For the archives: FinancialSense.com is reporting that Bakken production will eventually plateau. Well, duh. I'm not sure what the point of the article was. Of course, a lot of my posts don't have any points or purposes either; I guess that's what blogging is all about.

Whatever.

Having said that, the graph at the linked article was most interesting. North Dakota is currently producing about 800,000 bopd. In 2055, these are the production estimates:
  • proven: 500,000 bopd
  • probable: 600,000 bopd
  • possible: 900,000 bopd
For these projections, the following data for technically-reoverable oil was (were?) used:
  • proven: 7 billion bbls
  • probable: 10 billion bbls
  • possible: 15 billion bbls
The "15-billion-bbl" figure is still very, very low by some estimates:
  • USGS: 7 billion bbls (which the USGS admits, is conservative)
  • CLR, pre-2013 USGS assessment: 24 billion bbls (middle Bakken, upper Three Forks)
  • CLR, post-2013 USGS assessment: 54 billion bbls (middle Bakken, four benches of the Three Forks) 
I don't think one can use straight arithmetic to extrapolate, but if one did, at 24 billion bbls technically-recoverable oil, one could see 1.5 million bopd being produced by the state in 2055. This is consistent with what the Bentek analysis predicted: 2.2 million bopd by 2022.

The graph is titled "North Dakota oil production" but the accompanying notes refer only to the the Bakken/Three Forks. Likewise the CLR figures of 24 and 54 billion bbls refer only to the Bakken/Three Forks. 

If Harold Hamm is correct, the graph referenced above could look a lot different in 2055. By then I will have celebrated by 100th birthday.

But again, worse case scenario: North Dakota oil production will be "about the same" in 2055 as it was in 2011. Pretty spectacular, I would say. 2011 was a pretty good year by all accounts.

Oops! They've Done It Again; The Permitorium Continues

Last year, in March, 2012, it was reported that production of oil, gas, and coal on federal lands sunk to a nine-year low -- the graph was quite impressive. This was not a small decline. 
The updated EIA report revealed a 12 percent decline in production for coal, oil, and natural gas on federal and Indian lands from fiscal 2003 through fiscal 2011.
The EIA is now reporting that the decline has set a 10-year low through fiscal year 2012.

The San Onofre Story

The Los Angeles Times is reporting.

This is a 3-page internet story about closing the San Onofre nuclear reactors in southern California. It is a very well-written article. I am posting it only because it is simply a great article detailing why the San Onofre nuclear reactors were shut down permanently.

The plant had been operating since 1968 and was nearing its expected life expectancy when a proposed $1 billion "fix" was suggested. If the "fix" worked, it would help the power plant get a 20-year renewal of its operating license.  San Onofre is one of two nuclear power plants in California; it is a  2,200 megawatt power plant that provides electricity to 1.4 million homes.

The "fix" was in the form of new steam generators which cost in the ballpark of $700 million -- in the story, the reporter says the "fix" was a billion-dollar blunder.

CLR's Historic August, 2012, Corporate Presentation May Soon Be Lost To The Archives

I assume the CLR corporate presentation of August 10, 2012, (almost a year old now) will soon be no longer available at the CLR website.

It's a "historic" presentation and folks may want to keep a copy for archival purposes. The presentation can be found here (I assume in another couple of months it will be gone simply because the presentation will be fairly "old").

I discussed the presentation in a posting suggesting that the Bakken/Three Forks (all benches) is a trillion-barrel reservoir with 45 billion bbls of technically-recoverable oil. I may be using the wrong word but suggesting original oil in place to be one trillion bbls (rounded); this would suggest a recovery rate of 4.5% which many would argue is way too high. Most folks seem to suggest only 1 to 3 percent of OOIP is currently being recovered, though there have been oil experts suggesting as much as 8% in some places in the Bakken.

For newbies, the 2013 USGS estimated about 7 billion bbls of technically-recoverable oil and CLR's Harold Hamm suggested 24 billion bbls of technically-recoverable oil from the middle Bakken and the upper Three Forks.