This may not be a Bakken story, but it speaks volumes. We've already had a pretty good run-up in oil and gas, and now Mr Icahn doubles his position in Chesapeake, considered by most to be primarily a natural gas company.
I can't remember all I've posted over the past year, but I believe I have posted that my hunch is that the "big boys" know something about natural gas that the rest of us may not be seeing.
Or maybe, again, I'm just looking through rose-colored (oil-covered) glasses.
Link is here.
For those interested in news closer to home, this link also mentions NOG in passing.
Another investor bullish on natural gas at SeekingAlpha, December 27, 2010.
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Wednesday, December 22, 2010
Baker Hughes Could Add Hundreds of Jobs in Oklahoma Over Next Ten Years -- Not a Bakken Story
Link here.
This actually isn't a very important story in the big scheme of things, but it's important to those living in northeastern Oklahoma.
What struck me: this is another example of all the domestic jobs, most of them high-paying with great benefits, that are available in the oil and gas industry. But, as I've noted before, 2000 - 2010 will go down as the "lost decade" when the nation was sidetracked by a scam and lost its focus on energy independence.
I don't hold out much hope for the next few years due to moratoria on drilling off-shore the United States, to include Alaska, and the moratoria on hydraulic fracking in upstate New York.
I see that Jay Leno is now driving a coal-powered hybrid.
This actually isn't a very important story in the big scheme of things, but it's important to those living in northeastern Oklahoma.
What struck me: this is another example of all the domestic jobs, most of them high-paying with great benefits, that are available in the oil and gas industry. But, as I've noted before, 2000 - 2010 will go down as the "lost decade" when the nation was sidetracked by a scam and lost its focus on energy independence.
I don't hold out much hope for the next few years due to moratoria on drilling off-shore the United States, to include Alaska, and the moratoria on hydraulic fracking in upstate New York.
I see that Jay Leno is now driving a coal-powered hybrid.
A Nice EOG Well -- Bakken, North Dakota, USA
Link here.
My database shows that this permit used to belong to "Duncan" with a different well name.
What make this EOG well interesting is that the IP is pretty good for any Bakken well, 754, but it's a very good well when one considers this was on 320-acre spacing, and only 13,000 feet deep. Also, note, after four months, there has been no decline rate in production.
At least that's what I am seeing.
My database shows that this permit used to belong to "Duncan" with a different well name.
What make this EOG well interesting is that the IP is pretty good for any Bakken well, 754, but it's a very good well when one considers this was on 320-acre spacing, and only 13,000 feet deep. Also, note, after four months, there has been no decline rate in production.
At least that's what I am seeing.
Four (4) New Permits / Some Nice Wells -- North Dakota, USA
Producers: EOG (2), Anschutz, and Whiting.
Fields: Kittleson Slough, Sanish, St Anthony, and one wildcat.
Fidelity: 1,658, Kinnoin 24-13H, one of Fidelity's best wells ever in the Bakken. This one was in Mountrail County.
Whiting: two wells -- 1,557 and 2,654; Teddy 44-30TFH and Strobeck 12-1H. The former is in Billings County; the latter is in Mountrail County. I believe these have been reported out earlier in press releases or corporate presentations.
The wildcat is an EOG permit, 20219, a short lateral, Wildrose 1-06H, in Lot 4 6-155N-103W, Williams County. The wildcat is one mile north of the Hebron oil field, and one mile north of another EOG well still on confidential list: 19239, Lebron 1-01H, which is producing. This activity is all west-north-west of Williston, along the Montana border.
Fields: Kittleson Slough, Sanish, St Anthony, and one wildcat.
Fidelity: 1,658, Kinnoin 24-13H, one of Fidelity's best wells ever in the Bakken. This one was in Mountrail County.
Whiting: two wells -- 1,557 and 2,654; Teddy 44-30TFH and Strobeck 12-1H. The former is in Billings County; the latter is in Mountrail County. I believe these have been reported out earlier in press releases or corporate presentations.
The wildcat is an EOG permit, 20219, a short lateral, Wildrose 1-06H, in Lot 4 6-155N-103W, Williams County. The wildcat is one mile north of the Hebron oil field, and one mile north of another EOG well still on confidential list: 19239, Lebron 1-01H, which is producing. This activity is all west-north-west of Williston, along the Montana border.
Newfield / EOG Mutually Agree to End Marcellus Agreement
Link here.
I don't think the sale would have been material to either company, but Newfield investors are probably happy.
The text suggests this was in Pennsylvania and, if so, not related to current moratorium on hydraulic fracking in New York state.
I don't think the sale would have been material to either company, but Newfield investors are probably happy.
The text suggests this was in Pennsylvania and, if so, not related to current moratorium on hydraulic fracking in New York state.
Nice Op-Ed About Texas -- Not a Bakken Story
Here's the link.
I think the "no-income-tax" explanation is a bit over-blown, but there's no question it plays a role.
Interesting observations on immigration. I am pro-immigration but with secure borders. And rule of law.
I think the "no-income-tax" explanation is a bit over-blown, but there's no question it plays a role.
Interesting observations on immigration. I am pro-immigration but with secure borders. And rule of law.
Domestic Crude Supplies Drop
For the second week in a row, domestic crude oil supplies have dropped.
I opined a few weeks after the Gulf moratorium that it would only be a matter of time that effects would be seen.
Note: this is not the driving season, and commercial aircraft are taken out of service between Thanksgiving and Christmas due to less demand. And yet crude oil supplies are down.
Very, very interesting. Despite my comments in second paragraph above, I am still surprised to see the decline now. I thought it would take a bit longer.
I opined a few weeks after the Gulf moratorium that it would only be a matter of time that effects would be seen.
Note: this is not the driving season, and commercial aircraft are taken out of service between Thanksgiving and Christmas due to less demand. And yet crude oil supplies are down.
Very, very interesting. Despite my comments in second paragraph above, I am still surprised to see the decline now. I thought it would take a bit longer.