Saturday, August 29, 2015

Week 34: August 23, 2015 -- August 29, 2015

The big story, of course, was the market meltdown due to concerns about China, and the accompanying decline of the price of WTI oil to well below $40. By the end of the week, things had quieted down, the market bounced back a bit, but oil surged 10%, closing well above $40/bbl. While China implodes, the US reports 2Q15 GDP of 3.7%. Whether anyone "believes" that number is another story, but all agree that the number for 2Q15 is unlikely to presage the 3Q15 number.

Gasoline demand this past week was particularly interesting to follow: are California refineries having a tough time meeting demand?

Some things are happening in the Mideast. McDermott, an oil services company, received a record contract and record lump sump from Saudi Aramco for work in fields offshore Saudi Arabia.

There are rumors that President Obama will officially announce he is denying the Keystone XL pipeline a permit. 

Schlumberger will buy Cameron for almost $15 billion.

Utility rates may be up as much as 88% along the US East Coast.

Update on the Whiting Obrigewitch wells in Stark County
Excess crude oil storage along the Gulf Coast?
Missouri River Resources is on the board
Zavanna, seeming to be on a roll lately, has seven (7) more permits in Foreman Butte oil field
Zavanna, reporting some nice wells
Random look at Zavanna's "old Nelson" well after gas life
What do you get when you cross a great operator (Whiting) with great sites (KOG)? Huge wells
NDIC's September, 2015, hearing docket agenda posted

East coast refinery no longer taking Bakken CBR

Bakken 101
NDIC's "break-even" points for the Bakken
Rig productivity
The Bakken is changing

North Dakota gets FAA approval to test night-flights for drones
Hess now deducts a transportation fee from royalty checks

There are indications this is close to the "end" for Halcon in its present form 

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