I will be teaching today, so won't get back to these stories until later tonight. But as I get them today, I will link them here, and do stand-alone posts where indicated later. [Update: most, if not all, of these stories not have a stand-alone post for the day.]
The reason for fall in oil prices: Saudi Arabia hints that it may increase production to step rise in price of oil. This will be interesting to follow, to see if Saudi can follow through on this. There are four issues: their wilingness to do so; their ability to do so; the necessary infrastructure in place to accomodate increased production at the wellhead; and, refining capacity. I am sure there is more than enough refining capacity but it will put pressure on heavy oils since refiners prefer lighter oils like the Bakken and the Saudi's oil. That comes to mind in light of the TransCanada Keystone LX story below.
GM car sales in China surpass those of GM car sales in US for first time. And I bet most of those cars run on gasoline. Coal-powered cars are probably a bit too expensive.
JC Penney to close catalogue business, six stores and two call centers.
Oasis to raise $300 million via senior notes.
Oasis tripled reserves in 2010. Has more than 1,000 gross drilling locations; drilled 26 gross wells in 2010. Lots of work to be done.
Good news for Enbridge: Texas doesn't want the TransCanada Keystone XL Pipeline -- the landowners don't want it and even if it goes in, it sounds like the refiners don't want it. I have no dog in this fight.
HAL reports earnings today. Profit more than doubles on North American rebound. The Bakken. Beat estimates. You can manipulate earnings, but revenues are revenues. Revenues are up 40 percent.
Countless corporations have received waivers from ObamaCare -- I think the number is well above 300 now. Yes, as of December 3, 2010, there were 222 "entities" with approved waivers. [I find it interesting that the update is more than a month old. Most businesses would update their data on a daily basis.] Today, from the DrudgeReport, we learn that three Service Employees International Union (SEIU) locals, including the Chicago chapter, have been given waivers from the ObamaCare requirement. The SEIU political action committee gave $27 million to support ObamaCare. Every large corporation who has asked for a waiver has been given one to the best of my knowledge. With 33 states taking their case to the Supreme Court to also request the opportunity to opt out of ObamaCare, this plan is unraveling faster than an old sweater. It will be interesting to see how the 33 senators who are up for re-election in 2012 vote on this. Repeal of ObamaCare has already passed the House of Representatives.
Hal will benefit from the extra money eog and slawson will pay for their long laterals under the lake. Looks like Bronco 28 has set up to drill a 3 section 24500 foot well in liberty twp. I wonder what it will cost to frac that baby???
ReplyDeleteThank you for stopping by.
ReplyDeleteThank you, Tom. You alerted me to this a few weeks ago. I would have missed it but I really appreciated you taking time to comment. A lot of folks will be interested in this one.
To remind folks, you are referring to #20037, Liberty LR 17-11H, the longest lateral, it appears, so far in North Dakota.
And yes, one can see that it's Bronco 28, MIRU (moving in, rigging up) on the active drilling rig list.
It will be interesting to follow this one. Again, thanks.
Oh, by the say, there should not be a problem with enough fresh water for fracking! Smile.
ReplyDeleteI wonder if they will pump water directly from the Missouri to the site; I would assume so.