Sunday, December 3, 2017

Week 48: November 26, 2017 -- December 2, 2017

Biggest story in the Bakken this past week: MRO reports a well that produced 75,000 bbls in one month.  A close second was the report that Bakken gas flaring rebounds, a story that RBN Energy felt significant enough to devote an entire post to the news.

Politically, Heidi Heitkamp passed up an opportunity to help ND farmers.

The stock market surged this week, hitting new milestones on anticipation the US Senate would pass the GOP tax bill. They did. At the same time, WTI stayed steady.

All that talk about ND receiving more in federal handouts than it sends to Washington, DC? Poppycock: New York and North Dakota, per capita, are almost tied.

Meanwhile, the GDP estimate for 1Q17 jumped from 2.7% to 3.5% overnight based on consumer spending.

One of the bigger, if not the biggest energy story this past week: Saudi Arabia's foreign reserves actually increased, unexpectedly, and reversing a two-year trend. Here, and here

In the oil sector, this was a non-story: Nebraska regulators vote "no" with a 3-2 "yes" vote to approve the Keystone XL.

One of the bigger, if not the biggest, non-oil energy sector story this past week was the announcement that Cape Wind was finally dead.

In the Harold Hamm vs EIA forecasts: EIA - 1; Harold Hamm - 0. Having said that, the EIA was "way wrong" back in 2016.

Most concerning story this week? It appears an American business journalist thinks the US government somehow controls the nation's crude oil production.
MRO reports a well that produced 75,000 bbls in one month
Newfield's Moberg wells see significant jump in production
Oasis has three rigs working one drilling unit
Whiting has two rigs on the 15-well Mega-Pad in Banks Oil Field
CLR getting ready to frack more Burr Federal wells 

CLR completions strategy
Newfield reports a 62-stage frack

More nonsense: update on UND-EERC's science project to determine feasibility of storing "dirty" CO2 undergroung  

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