This is a new CLR presentation. Due to time constraints associated with traveling, I have not yet viewed this presentation closely.
One data point jumped out. One can argue about IP numbers until the cows come home, but slide 26 of that presentation graphs out the 90-day average production. In 2007, 90-day production for a CLR well averaged about 150 barrels of oil/day; in the most recent reporting period, that number has jumped to 576 bopd.
Thursday, July 1, 2010
Analysts Surprised (Again) by Increased Jobless Claims
Analysts were again surprised (so what else is new) by the increase in the number of jobless claims. Analysts had expected claims to ease to 452,000; in fact, it rose to 472,000, not an insignificant number. And just yesterday I posted this:
Why the unemployment rate is dropping (it ain't good news).
In related news, 1.3 million jobless will not have benefits "restored." Congress has left for its Independence Day vacation. "Restored" is an interesting word. A more appropriate word would be "extended" as in extend benefits longer than 99 weeks. Yes, unemployment benefits now extend out to 99 weeks. Without the extension, 200,000 who have not worked for at least 26 weeks will come off the jobless benefits rolls every week. Four months to the end of October, works outs to about 3.2 million more without jobless benefits adding up to a total of 4.5 million, out of the 11 million or so unemployed, going into the November elections.
Elsewhere, the city of Los Angeles will not delay layoffs: they begin today. This affects mostly library and child care employees. Stimulus money is running out and we are now going to see the effects of using stimulus money to simply extend the inevitable instead of a comprehensive stimulus program to generate an entirely new industry or expand existing needed industries.
And the state of California begins the budget year with no budget. Thousands of folks are at risk of getting paid by the state starting today because the politicians cannot come together on a budget deal. I guess that's one way to solve a budget crisis: suspend payments to creditors.
The state of Massachusetts just signed their budget law that will slash thousands of jobs. The governor mentioned the "stalled" Federal stimulus money payments. Oh, my.
Nationwide, pending home sales plummeted a record thirty (30) percent. Clever, but temporary, manipulation of the tax code has expected consequences. However, I find this interesting: when Congress wants to spur a specific industry, what does it do? It cuts taxes. Now, if one wanted to spur industry across the board, what would be the logical thing to do? Are we smarter than a fifth grader?
And the bad news just gets worse: the June "manufacturing index" also declined. Stimulus money is starting to fizzle out.
- Analysts estimated there would be an increase of 60,000 private sector jobs in June, 2010. The report has just been released .... drum roll ..... 13,000 (released June 30, 2010)
- Census jobs end this month (June, 2010)
- Stimulus money running out which will result in more jobs lost (mostly at state and local government level).
- Federal government won't be seeing any huge increase in numbers.
Why the unemployment rate is dropping (it ain't good news).
In related news, 1.3 million jobless will not have benefits "restored." Congress has left for its Independence Day vacation. "Restored" is an interesting word. A more appropriate word would be "extended" as in extend benefits longer than 99 weeks. Yes, unemployment benefits now extend out to 99 weeks. Without the extension, 200,000 who have not worked for at least 26 weeks will come off the jobless benefits rolls every week. Four months to the end of October, works outs to about 3.2 million more without jobless benefits adding up to a total of 4.5 million, out of the 11 million or so unemployed, going into the November elections.
Elsewhere, the city of Los Angeles will not delay layoffs: they begin today. This affects mostly library and child care employees. Stimulus money is running out and we are now going to see the effects of using stimulus money to simply extend the inevitable instead of a comprehensive stimulus program to generate an entirely new industry or expand existing needed industries.
And the state of California begins the budget year with no budget. Thousands of folks are at risk of getting paid by the state starting today because the politicians cannot come together on a budget deal. I guess that's one way to solve a budget crisis: suspend payments to creditors.
The state of Massachusetts just signed their budget law that will slash thousands of jobs. The governor mentioned the "stalled" Federal stimulus money payments. Oh, my.
Nationwide, pending home sales plummeted a record thirty (30) percent. Clever, but temporary, manipulation of the tax code has expected consequences. However, I find this interesting: when Congress wants to spur a specific industry, what does it do? It cuts taxes. Now, if one wanted to spur industry across the board, what would be the logical thing to do? Are we smarter than a fifth grader?
And the bad news just gets worse: the June "manufacturing index" also declined. Stimulus money is starting to fizzle out.
1291
That's the number of new permits that "we" are on track to grant in 2010 based on the number of permits granted so far this year.
As of June 30, the mid-point of the year, 640 new permits have been granted by the North Dakota Industrial Commission. Two of them were in the "99XXX" series but all the rest were standard oil and gas permits. If "we" maintain that pace, we should see about 1300 new permits this calendar year, well ahead of the record 954 two years ago.
Today, there are 129 active rigs in North Dakota, one shy of the record 130 that was reached for a very short period (less than one day) earlier this year.
As of June 30, the mid-point of the year, 640 new permits have been granted by the North Dakota Industrial Commission. Two of them were in the "99XXX" series but all the rest were standard oil and gas permits. If "we" maintain that pace, we should see about 1300 new permits this calendar year, well ahead of the record 954 two years ago.
Today, there are 129 active rigs in North Dakota, one shy of the record 130 that was reached for a very short period (less than one day) earlier this year.
Subscribe to:
Posts (Atom)