Wednesday, April 30, 2014

Apologies To All For My Delayed Posting; I'm Traveling And Not On The Net As Much; Fourteen (14) New Permits; Lynchburg, VA, Crude Oil Probably Bakken Crude Oil; More People Killed In Wind Farm Accidents Than CBR Derailments In USA?

Gradually catching up.

Lynchburg, VA, crude oil derailment not linked at Drudge Report yet; front page story at LA Times. Front page story at on-line WSJ, but small headline "below the fold."From the WSJ
The train was traveling from Chicago. It was unclear where the crude shipment was headed, but there is one oil train terminal in Virginia. The Yorktown, Va., storage and shipping site owned by Plains All American Pipeline LP began receiving shipments of crude by rail in December, according to a securities filing. Bakken oil produced in North Dakota is railed to Yorktown where it can be loaded on barges and shipped north to East Coast refineries, one expert said. Plains didn't return calls for comment.
Irony? hopefully there were no injuries in the crude oil derailment. Four were killed when a small private plane flies into "wind farm windmill." It was noted that this story -- a most unusual story to say the least -- was not picked up by the mainstream media.
This is not the first time a plane has crashed into a wind farm--in 2008 near southeast Minnesota, poor weather caused the pilot of a 1948 Cessna 140 to lose control while trying to fly around wind turbines.
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Rigzone is reporting: An explosion in a West Texas oil field near the border with New Mexico left at least two dead and nine injured Wednesday morning, the Associated Press said. The workers were changing a wellhead when the buildup of pressure caused the explosion. 

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Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here. 

Earnings today:
  • Enbridge Energy Partners (EEP): expectations, 20 cents; actual -- in line; declares distribution of $0.5435/unit
  • Hess: expectations, $1.02; actual -- profit drops from a year ago; results boosted by gain from sale of some properties; net income comes in at $1.20/share (compared to $3.72/share one year ago)
  • MDU: expectations, 33 cents; actual --- in line; see below;
  • Murphy Oil: expectations, 96 cents; actual -- beats by 2 cents;
  • PSX: expectations, $1.34; actual: $1.47/share but without excluding a one-time gain, the actual earnings were $2.23/share.
  • Whiting: expectations, 96 cents; actual -- beats by 9 cents; profit jumps 27%;
  • Williams Companies: expectations, 26 cents; actual -- beats by 2 cents; profit drops 13%
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MDU Resources reports EPS in-line, beats on revs; raises FY14 EPS guidance in-line : Reports Q1 (Mar) earnings of $0.32 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate consensus of $0.32; revenues rose 11.9% year/year to $1.04 bln vs the $0.97 bln consensus.
  • Co raises FY14 EPS guidance, sees EPS of $1.50-1.65 vs. $1.59 Capital IQ Consensus Estimate, up from $1.45-1.60.
  • "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 
  • "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 
  • "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 
  • "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year."
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 Active rigs:


4/30/201404/30/201304/30/201204/30/201104/30/2010
Active Rigs187185210173112

Fourteen (14) new permits --
  • Operators: MRO (6), BR (3), Whiting (2), Denbury, QEP, Enduro
  • Fields: Lost Bridge (Dunn), Reunion Bay (Mountrail), Johnson Corner (McKenzie), Lonesome (McKenzie), Cedar Hills (Bowman), Grail (McKenzie), Glenburn (Renville)
  • Comments:
Wells coming off confidential list were posted earlier; see sidebar at the right.

Three (3) producing wells completed:
  • 25722, 657, Petro-Hunt, MM Wold 160-94-31A-6-7H, North Tioga, t4/14; no production data,
  • 26050, 72, Samson Resources, Almos Farms 0112-5TFH, Ambrose, no production data,
  • 26128, 413, CLR, Perch 1-30H1, Park, t3/14; cum 5K 3/14;

2 comments:

  1. Pilots who are flying as low as the height of the tallest windmills are flying in direct violation of FAA regulations and are risking flying into many tall objects. The fact that a wind farm was in their way is of no moment. They shouldn't be flying through them anyway.

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    Replies
    1. Agree 100%. Just like the engineer on the Canadian train who did not set the brakes on that train carrying crude oil. I assume that's also some violation of some law about setting brakes on a stopped train -- but the media lumps that Canadian derailment into the list of numerous derailments (three of any note, including the one in Lynchburg yesterday, with no fatalities in the US, that I am aware of).

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