Friday, October 30, 2015

Week 43: October 25, 2015 -- October 31, 2015

The biggest story this past week: observing a new phenomenon -- non-governmental strategic petroleum reserves and one of the reserves is in North Dakota. CNBC asked the question but did a lousy job reporting on it; initial post here.

It is interesting that there were three stories this week, very coincidental, that Russia, Venezuela, and Saudi Arabia are all burning through their cash reserves. Venezuela has six months; Russia has one year; and, Saudi Arabia, five years.

Operations
EOG with permits for 19 wells in one section in Clarks Creek
Bakken Shale ND, new operator in the Bakken; with permits for 8 wells in Lone Butte
BR permitted for re-entry; reason unknown
EOG with permits for 10 more oil wells in Clarks Creek
Target zone efficiency

Pipelines
Minnesotans keystoning the Sandpiper provide Bakken twist 

Bakken economy
Continued discussion on a 4-lane divided highway from Watford City to I-94 (Belfield)
Muckbusters

Miscellaneous
Putting OXY's exit into perspective 
Updates on the Samson Resources, American Eagle bankruptcies 

Global economy
Saudi Arabia burning through their cash 
Venezuela running out of cash; selling their gold 
Russian burning through cash; rainy day funds could be depleted as early as next year 

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