Monday Morning -- December 8, 2014; North Dakota Taxpayers' Income Has Doubled Over The Duration Of The Boom (Since 2006)

This page is now completed; no new entries; errors will be corrected if noted.

There are going to be some huge wells reported today in the Bakken. I'll update them later, but here are the four I'm interested in today:

• 28330, 1,716, CLR, Salers Federal 3-27H, Antelope, a Sanish well, t10/14; cum 41K 10/14;
• 26608, 1,601, Enerplus, Courage 150-94-06A-18H, Spotted Horn, t6/14; cum 146K 10/14;
• 27283, 4,523, Whiting, Skaar Federal 41-3TFHU, Twin Valley, t6/14; cum 144K 10/14;
• 27284, 4,934, Whiting, Skaar Federal 41-3TFH, Twin Valley, t6/14; cum 176K 10/14;

Some quick comments:

• spend a few moments looking at those numbers, and thinking about them
• remember: Whiting said they were going to do some new completion techniques
• remember: the Whiting, NCS, coiled tubing story, records set
• how often does one see 41,000 bbls of oil in the same month as the test month? Answer: not often (#28330)
• how often does one see 150,000 bbls in 4-5 months; answer: not often
• how often does one see 175,000 bbls in 4 -5 months; answer: even less often

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Totally Unexpected

Active rigs:

	12/8/2014	12/08/2013	12/08/2012	12/08/2011	12/08/2010
Active Rigs	191	193	181	202	165

Totally unexpected. I was looking for 183.

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Pipelines

RBN Energy: Permian pipeline projects continue despite price cash.

Hey, by the way, did you all see that story yesterday that the Bakken has regained its position as the largest "shale" play in the US? I assume the Permian is one of the "shale" plays in the US though it is historically not a shale play. And yes, there is a difference between "shale" and "tight" but I'm not going to go into that now.

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North Dakota Taxpayers Are Paying More State Taxes

... but for a good reason. Look at this: 

Reported income by all North Dakotans has more than doubled to a record $30.4 billion since the infancy of the state's oil boom in 2006, tax return filings show.

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Venezuela -- Oh, Oh

CNBC is asking: will low oil prices push Venezuela toward default? Regular readers know where I rank Venezuela on the "pain list" with regard to the slump in the price of oil.

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Rail

Yesterday I posted a great story on the backlog of rail cars -- the link was sent by a reader. Today, coincidentally, over at Yahoo!In-Play:

Greenbrier announces orders for 14,100 railcars valued at $1.24 bln; orders include 11,400 units valued at nearly $1 bln, which GBX previously disclosed on 10/30 : Co announced that it received new orders in its first quarter ended November 30, 2014 for 14,100 railcar units valued at $1.24 billion.

• Orders for the quarter include small-cube covered hopper cars for sand and cement transportation, boxcars, double-stack intermodal units, automobile carrying cars, gondolas and tank cars, both for crude oil and other commodity types.

Those are just new orders.

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The Euro -- Oh, Oh

I can't recall if I've ever posted it, but I've always predicted it. A talking head over at CNBC is predicting the demise of the Euro within the next three years.

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Those Who Like Cash -- Oh, Oh

The Wall Street Journal is reporting that banks are urging some of their largest customers in the U.S. to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits. This has been reported for the past two years in various forms and sources. One can thank US Congress. I'm only a spectator; no bank has asked me to take my cash elsewhere, and yes, I still have no-fee banking.