Sunday, July 24, 2016

How Bad Is It? -- Bloomberg Says The World Will Need To Depend On Russia To Make Up The Shortfall In Oil Going Forward -- Oh, Give Me A Break -- July 24, 2016

From Bloomberg, some data points:
  • international CAPEX cut so much, dire shortages predicted
  • Russian is our only salvation
  • Russia will need to produce 11.7 million bopd by 2018, an increase of almost 600,00 bopd from 2015
Oh, give me a break. Later this year, we will see North Dakota production drop below 1 million bopd.

Unfettered, North Dakota Bakken can produce 2.2 million bopd.

Russia, our only savior. Nonsense.

It was only "yesterday," August, 2015, that "we" started hearing about the STACK, just as one example. 

Non-Bakken News And Comments -- July 24, 2016


Terrorist attacks in the US, Britain, and Germany are becoming so commonplace it's hard to keep track of what terrorist attack a headline story is reporting. It's beyond time to start naming terrorist events in the headlines reporting the stories just like they name hurricanes. 
Original Post
Yahoo!Mail is down. At least here in north Texas, in and around Denton, Texas. This is about 40 minutes away from my hovel in Grapevine. I won't know if Grapevine was affected until about 9:30 later this evening. I'm up in Denton with our oldest granddaughter at water polo practice. My Gmail account is up and running but I don't use Gmail except for "emergencies." Gmail: not one piece of spam over several years of having a Gmail account. Yahoo!Mail? 50 spam messages daily including some that seem to come from Yahoo itself. Maybe Verizon will scrap Yahoo!Mail and simply start over. LOL.

Terror in Germany. I see there was another terrorist bombing in Germany today -- in Ansbach. Ansbach is an administration capital of Middle Franconia. In addition, the US Army had (has?) a huge military presence there. No links, story everywhere.

Terror in Turkey. I also see that there is a "massive" fire in / around a NATO base / US air force base in Turkey: Izmir. No links; story easily found. I provide more background at "Mideast on the brink."

Disarray in Philadelphia: And, of course, the Wasserman story. It looks like it is playing out like this:
  • CNN: someone resigned? Really? Who? Hillary waiting in wings to be crowned.
  • MSNBC: someone resigned? Really? Let's go interview some demonstrators.
  • Fox News: DNC implodes.
Sets new record: shortest time on job -- I'm not even sure this is "legit,"  but wikileaks is now reporting that Donna Brazile who had been named to replace Debbie Wasserman-Schultz has now, in turn, been replaced by someone named Marcia Fudge. Yup, it's "legit." Fudge represents a district in Ohio. So, Donna Brazile held the job as an interim DNC chairperson for about ... oh, maybe 30 minutes. Long enough for Hillary to make a phone call. Too bad she didn't act this quickly the night of Benghazi. Just saying. I wonder who will write the speeches for Marcia Fudge? My hunch she is not ready for prime time and for all those Bernie Sanders protestors. A sacrificial lamb?

The press can't keep up. Some mainstream media outlets are still reporting that Donna Brazile will be the interim DNC chairperson for the duration of the convention. (8:25 p.m. Central time: Hollywood Deadline)

My thoughts:
Wow, let's just say I was completely wrong. Not in a million years would I have expected DNC chairperson Debbie Wasserman-Schultz to step down. It will be interesting to see how this plays out. Right now the press is having a field day with this. I'm watching this at a McDonald's (with wi-fi and no limit on how long I can stay here) for about 30 minutes before going back to watch oldest granddaughter at water polo practice). I think this will be a 24-hour story. As one commentator said, Hillary will "power through this."

The Sanders folks won't be appeased; her stepping down may even give them renewed strength to see what "else" they can get. But if Hillary does power through this, the national perspective is what is important. I think this makes Hillary look a lot more decisive, a strong leader -- she saw the wikileaks and said it was time for Wasserman to go. Hillary didn't even let Wasserman twist in the wind; the hanging was quick.

Hillary has the media on her side. They will report the convention but won't dwell on the Wasserman story. It goes without saying that Fox News ... so I won't say it. 

Obviously the Sanders folks are not going to vote for Trump in the November election; whether they stay home or not is the real question. I think a lot more folks than just the Sanders folks who wanted to see Wasserman go. The obvious question is to what degree Kaine played a role?
180 days: until January 20, 2017. 

Liberty Resources Reports Four Nice Wells, Though IPs Are Low -- July 24, 2016

The wells coming off the confidential list and will be reported Monday:
Monday, July 25, 2016
  • 29856, SI/NC, Newfield, Jorgenson Federal 148-96-10-15-3H, Lost Bridge, no production data,
  • 30617, 503, Liberty Resources, Leon 158-95-17-8-1TFH, McGregor, 35 stages, 4.7 million lbs, t2/16; cum 41K 5/16;
  • 30618, 622, Liberty Resources, Leon 158-95-17-8-1MBH, McGregor, t2/16 cum 44K 5/16;
  • 30619, 428, Liberty Resources, Leon 158-95-17-8-2MBH, McGregor, t3/16; cum 25K 5/16;
  • 30620, 272, Liberty Resources, Leon 158-95-17-8-3TFH, McGregor, t3/16; cum 32K 5/16;
Sunday, July 24, 2016
  • 32010, TASC, MRO, Colvin USA 14-34TFH, Reunion Bay, no production data,
Saturday, July 23, 2016
  • 27345, 2,262, BR, Stafford 13-34TFH, Blue Buttes, t6/16; cum --
  • 30921, SI/NC, WPX, North Segment 6-5-4 HY, Van Hook, no production data

30620, see above, Liberty Resources, Leon 158-95-17-8-3TFH, McGregor:

DateOil RunsMCF Sold

30619, see above, Liberty Resources, Leon 158-95-17-8-2MBH, McGregor:

DateOil RunsMCF Sold

30618, see above, Liberty Resources, Leon 158-95-17-8-1MBH, McGregor:

DateOil RunsMCF Sold

30617, see above, Liberty Resources, Leon 158-95-17-8-1TFH, McGregor:

DateOil RunsMCF Sold

Sunday Morning -- Nothing About The Bakken, Except One Link -- July 24, 2016

The one Bakken link on this page: a reminder that Mike Filloon posted a great update on the Bakken yesterday. I track it here with comments. I say that because a reader has provided some additional information on what it means "to trip" in the oil patch. Another reader introduces technology that was new to me: monobore / monodiameter / one run drilling. These little vignettes could serve as the basis for some great essays for kids in school tasked to write essays on various subjects. I remember how much I enjoyed writing projects throughout "junior hi" and high school.


If you came here only for the Bakken you can skip the rest of this page, and scroll down, or to the sidebar at the right. Nothing below will interest those who arrived here simply for Bakken updates.

Wow, the Drudge Report this Sunday morning certainly is full of stories on the fallout from Wikileaks (#DNCLeaks) and the Munich Massacre by Ali. I think the most interesting was the BBC's attempt -- remember who the mayor of London is -- to "change" the suspect's name. Until Breitbart called the BBC on that, and then they posted the full name. (By the way, it's very similar to how the media long ago -- if ever -- referred to the president using his full given name.) No links; stories everywhere.

CNN headline: "21 killed in Baghdad suicide blast, weeks after deadliest in years." ISIS claimed responsibility. I assume this is another example of ISIS on the run not that we have them on the run, according to the administration. I track the "Mideast on edge" at the sidebar on the right.

Fox News reported that "Saudi official makes rare Jerusalem visit, meets Israelis." If he visited Jerusalem, it's hard to think he would not meet Israelis. As a reminder, the Israelis and the Palestinians both claim Jerusalem as their capital. Fox News considers this newsworthy; my hunch is this happens all the time, Saudi officials meeting Israeli officials. I wonder if they met in an air-conditioned unmarked aircraft parked at the end of a runway.

NextEra. Nexterror. Someone has a sense of humor. The NextEra lawyers are suing a blogger who refers to NextEra as Nexterror. The NextEra lawyers suggest her parody could confuse folks who might want to buy a wind turbine. I can't make this stuff up. Over at wiki:
NextEra has launched a copyright infringement lawsuit against a wind turbine protester who, on her personal website, created a parody of the NextEra logo and referred to the corporation as Nexterror. The corporation's lawyers claim that she “advertised her services in association with a trademark that was confusing with the Plaintiff’s registered trademarks”, potentially causing confusion among NextEra’s customers. As in, wind turbine customers might think that the woman is really NextEra and that they might try to buy wind turbines from her.
That last entry: a huge "thank you" to Don. By the way, on a serious note, a much bigger story, at least for me. This finally connects all the dots.

I assume folks in North Dakota remember Florida Power and Light investing in all those wind farms in the Peace Garden State. I blogged about it numerous times, although I think it might have been under the FPL moniker. For some time now, I haven't seen anything with regard to FPL in North Dakota. It turns out they changed their name, and I see NextEra everywhere -- especially on the "WSJ -- new highs" list for the past few weeks. NextEra is on a tear, trading at new highs, it seems, almost every day.

This on NextEra from wiki:
NextEra Energy is currently the largest owner and operator of wind turbines in the US, and second in the world after Iberdrola.
As of January 1, 2015 NextEra Energy, through its subsidiaries, currently operates over 100 wind farms across 19 states and three Canadian provinces, with a gross capacity of 11,300 megawatts.
It owns and operates the Horse Hollow Wind Energy Center in Taylor County, Texas, the second largest wind farm in the United States.
In 2015, NextEra accounted for roughly 35 percent US wind power installed.
Google Energy is an investor and customer of NextEra, having invested $38.8 million in two sites in North Dakota, and entered into a purchase agreement for 100 MW at a fixed rate for 20 years.
So, the dots are connected.

Tax credits -- Google -- NextEra -- FPL -- North Dakota -- wind farms.

One final note: when the Hillary administration takes office, one can bet that corporations investing in "x" amount of wind power will be given generous tax credits. Anyone paying attention has seen the close relationship between Eric Schmidt and Hillary Clinton. They're joined at the hips. (Of course, a lot of folks are joined at Hillary's hips: her hips are broad and inclusive.)

By the way, speaking about blogging about FPL: RBN Energy has had some great posts on FPL (now NextEra Energy) investing in natural gas producing companies and the reserves themselves, guaranteeing them some ability to control the price of their "own" natural gas.

Ah, enough of that.