Update on Legacy's Bottineau Wells -- Ready for Fracking -- North Dakota, USA

I've been told that Legacy is about ready to frack their Bottineau wells.

The Halliburton coiled tubing crew from Rock Springs, Wyoming, has been in the area for the last few days, but the Halliburton fracking crew coming down from Canada has "been hung up at the border crossing for the last two days!" 

The wells in question, from an earlier note from the company's website, dated March 14, 2011:

"The first two horizontal wells of a five-well program targeting light oil in the Spearfish in Bottineau County, North Dakota, were drilled in the fourth quarter of 2010, with the remaining wells drilled subsequent to year end. Based on drill cuttings, gas detector response and oil shows while drilling, all five wells have now been cased as potential Spearfish oil wells and await completion. Fracture stimulation treatment is dependent on weather and road bans but is anticipated to occur within the next six weeks. The Company has continued to build on its dominant land position in the area which is now in excess of 43,840 net undeveloped acres. No reserves have been assigned to Legacy's interest in Bottineau County in the December 31, 2010, reserves report."

A big thank you from "another" Bruce for providing the update via e-mail.

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Update:

Anon 1 provided significant amount of information regarding an earlier question in the comment section below. Because comments don't "link" appropriately, I have "cut and paste" the comment/links here to make it easier to get to the links:

Also see:

http://www.renegadepetroleum.com/

They have a little acreage which might have a shot at Spearfish. But, they don't mention it here:

http://www.renegadepetroleum.com/documents/presentation/RPL-2011-04-29-MayCorpPresent.pdf

They do mention Bakken and Waskada Spearfish.

Also, you have covered:

http://www.surgeenergy.ca/

Together they constitute a renegade surge of Canadians looking for legacy oil.

http://www.legacyoilandgas.com/

Water, Water, Everywhere!

No update on whether US Army Corps of Engineers has begun charging storage fees for water from the reservoir, but there's no shortage of water in the Bakken.

Strong Maine Lobster Harvest is Forseen -- Boston Globe

Updates

March 19, 2017: seventh year of record catches of Maine lobster.
 

Original Post

 

Link here.

PORTLAND, Maine — On the heels of last year’s record-shattering catch, another bountiful lobster harvest is expected this year in Maine.

Last year, Maine fishermen caught more than 90 million pounds of lobster, breaking the record of 81.2 million pounds in 2009. Even though the resource is in strong shape and signs are pointing to another whopper of a harvest, lobstermen are approaching the season ahead with caution.

For those interested in reading about the comeback of the lobster fishing industry, read The Secret Life of Lobsters: How Fishermen and Scientists Are Unraveling the Mysteries of Our Favorite Crustacean. Biologists saved the industry and lobster fishermen are indebted to them. Getting there was not easy for either party, however.

I read that book a few years ago. Incredible. It was a gift from my daughter when we visited her family in Portsmouth, New Hampshire. They now live in Boston area where we spend much of our time. As mentioned earlier, these are my ports o' call: Boston, the Bakken, San Pedro (California), and San Antonio (Texas).

But back to the story. I talked to Roy Moore in Rockport, Massachusetts, yesterday about lobster "farming" while he was boiling our 1.5 pound lobster -- 12 minutes exactly. He was the one that brought up the book; loved it. He's been in the business 32 years; he looks about 40 years old, if that. He lets his son bring in the lobsters now (outside his back door at the wharf where one can touch, see, photograph "Motif #1").

Roy Moore has not raised his prices for lobster in six years: $15 each, boiled, cracked, butter, wet towel, lots of paper towels, and cleanest bathrooms in the country. The maitre d' was a laughing seagull. Serves no beverages. You put your dollar bill into a vending machine just inside the door to his 8' x 8' "restaurant" and carry your selection to the deck in the back, next to the traps, galoshes and Mackintoshes.

Down the street, the sit-down, more upscale restaurant serves lobster and fries for $12.99. More than likely they will serve you a beverage.

Report Doubles Natural Gas Reserves in British Columbia

Link here.

A report released today from the National Energy Board (NEB) and British Columbia Ministry of Energy and Mines puts the marketable shale gas in the basin at 78 trillion cubic feet, including 75 Tcf of undiscovered resources. 

Huge.

Didn't the USGS estimate of the Bakken in 2008 increase the earlier reserves estimate by five (5) times?

Who Owns What Where in North Dakota? (oil leases) -- Bakken, North Dakota, USA

Link here.

Nothing new, just an occasional reminder. It's a frequently asked question.

Just a Little Reminder: Saudi "Slashed" Production in March (2011)

Link here.

Saudi Arabia's oil minister said on Sunday (April 17, 2011) the kingdom had slashed output by 800,000 barrels per day in March due to oversupply, sending the strongest signal yet that OPEC will not act to quell soaring prices.

Well, I guess that worked. 

Watch For TAM Completions Systems, Inc., in the Bakken

Link here.

Please let me know if you see TAM in North Dakota. Readers will be interested. TAM provides fracking technology solutions.

OXY's Update Includes The Bakken

Link here.

Oxy's North Dakota prospect is big enough to warrant attention even when discussing worldwide production.

In the United States, Oxy acquired properties in new core oil and natural gas producing areas for the company. Oxy expanded its modest position in North Dakota's Williston Basin with the purchase, during the fourth quarter of 2010, of approximately 174,000 net contiguous acres. These assets, which produce from the Bakken formation and are prospective in the Three Forks formation, gave Oxy production interests in the Williston Basin of approximately 6,000 BOE per day as of the date of purchase.

EPD To Increase Pipeline Capacity -- Not a Bakken Story (For Investors)

Link here.

Enterprise Products Partners L.P. (EPD) on Thursday announced a planned expansion of the Rocky Mountain segment of the partnerships Mid-America Pipeline (MAPL) system, which is expected to add up to 85,000 barrels per day (BPD) of incremental transportation capacity for natural gas liquids (NGL).

Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.

Rigzone: North Dakota Hits Oil Tax Revenue Milestone

Link here.

This is the first time the state has surpassed a $100 million benchmark for tax revenue, thanks to production in March, the most recent data available.

From November 2010 to February of this year, oil has brought in tax revenues hovering around $80 million, but in March that number rose to more than $100 million for the first time.

That brought in $20 million more than in February despite a drop in production of about 2,000 barrels.

I talked about this just a couple days ago. What's better: $150/bbl of oil when production is shut in for two months out of three due to blizzards; or $90/bbl oil, spring weather, and more rigs coming on line?

It's a rhetorical question; please don't answer.

By the way, great entry for investors.

The Next Harold Hamm? Drilling Wells for $175,000 in Central Montana

Link here.

Meet Adam Standiford, a small independent based in North Central Montana. His company, Brainstorm Energy, is not one you've heard of. Standiford, 34, holds 14 total wells, 12 gas and two oil, spread over 20,000 acres on the Sweet Grass Arch where commercial hydrocarbons have been discovered in Mississippian carbonates and in Jurassic and Cretaceous sands.

Though the Alberta Bakken area is known for its shale plays, Standiford is not involved in shale. "It is something for players with more money and more experience," Standiford explains. "Shale wells are $4 million wells. The wells we are drilling are about $175,000. We don't have the resources for shale."

For Investors Only: Incredible Entry Point for Those Who Missed SSN The First Time (and Second Time) Around

Link here.

SSN is well off its recent highs.

EOG Well On Its Way to Shedding $1 Billion in Natural Gas Assets

Link here.

EOG Resources Inc. has sold $637 million worth of assets in its goal of divesting $1 billion worth of assets this year, EOG Chief Executive Officer Mark Papa said May 6, adding most of the assets sold were mature gas-producing properties in South Texas and New Mexico.

“Our shift from a natural gas to a liquids company is essentially complete,” Papa said during a conference call on the company’s first-quarter earnings. “At current prices, we expect approximately 70% of our North American revenue to emanate from crude oil, condensate, and natural gas liquids.”
For newbies: think Bakken. 

Apparently James Cramer, oracle of newyorkcity, pumped EOG yesterday. I missed it; I was traveling.

What a Bunch of Manure

Link here.

“Political people don’t pay attention to individual permits. They don’t interfere with permitting for political purposes,” Ned Farquhar, deputy assistant secretary for land and minerals management in the US Department of the Interior, told energy professionals May 5 at the Offshore Technology Conference in Houston.

In a panel discussion of risk management on the last day of OTC, he said the General Accounting Office for the first time has included Interior’s oil and gas program in its high risk category among government agencies that may not meet their goals. [What would the other high risk categories be? Lunar landings? War? Brain surgery?]

Farquhar said “so much of the process” that the Bureau of Ocean Energy Management, Regulation, and Enforcement is “trying to inculcate” into the oil and gas industry is “thinking about safety.” He said, “Risks can be reduced by sensible regulation.”  [Meanwhile the permitorium continues.]

He also said, “Everyone [in the oil and gas industry] has got to commit to a certain level of safety.”

Actually, everyone in the oil and gas industry is committed to safety. Everyone in the administration needs to understand that deepwater drilling is inherently risky. As is going to war in Iraqistan, Afghanistan, Pakistan, and Libystan. 

If only the text could be converted to energy. Smile. This post may or may not remain up.

Climate Change Panel: Renewables Will Be the Answer to Global Energy Needs

Link here.

DOHA, Qatar – The world's top scientific body concluded that renewable energy in the coming decades will be widespread and could one day represent the dominant source for powering factories and lighting homes, according to a draft report obtained by The Associated Press Thursday.

But the report also warned that such expansion will be costly and policy changes will have to be enacted to ensure that renewable energy can achieve its potential in helping reduce greenhouse gas emissions.

The link above did not include photographs or video of the panel. Fortunately, a reader was able to find a video of the opening statement from the four-day conference in Dubai.

During the Q&A, a question was asked whether the panel members, when it came to renewable energy, "believed in magic?" The panel said they each brought their new energy to the group.

Japan: More Nuclear Energy Loss?

Link here.

The headline / story are a bit confusing. The headline suggests three more nuclear reactors WILL BE shutdown. The article suggests that there is only a strong recommendation to shut down these reactors.

The reactors are near Tokyo; there is fear that if an earthquake damaged these, the effect on Tokyo (i.e., Japan) would be incalculable.

These three reactors represent 7 percent of Japan's combined nuclear power generating capacity.

Major industries, including Toyota, would be hurt. Meanwhile, Japan will be building solar and wind farms as fast as GM is building Volts. As fast as they can.