Friday Morning -- Just Waking Up

Wells coming off confidential list have been posted: Zenergy, XTO, and BEXP all report nice wells.  Scroll down to earlier posts. Remember: G3 Operating (GEOI) was acquired by Halcon in 2Q12, I believe. 

 Michael Filloon on Oasis.

Independent Stock Analysis: taking some time off.

From RBN Energy:

We just finished up the hottest July on record. Very high temperatures cause air conditioning demand to go ballistic. System operators struggle to generate enough power to satisfy peak load and call on expensive “peaker” generation units that set a high market price for power. With gas prices trading lower these days, the spread between high power prices and the cost of the gas fuel to generate that electricity (the spark spread) widens considerably during a heat wave. Today we look at spark spreads during July in New York City.

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A "throwaway" article in CNNMoney today resulted in coming across this commentary: No Plan B.  If you go there, scroll down to the "original post."

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To be filed under "How Did This Happen?"  US Reliance on Saudi Oil Heads Back Up.

The United States is increasing its dependence on oil from Saudi Arabia, raising its imports from the kingdom by more than 20 percent this year, even as fears of military conflict in the tinderbox Persian Gulf region grow.

The increase in Saudi oil exports to the United States began slowly last summer and has picked up pace this year. Until then, the United States had decreased its dependence on foreign oil and from the Gulf in particular.

This reversal is driven in part by the battle over Iran’s nuclear program. The United States tightened sanctions that hampered Iran’s ability to sell crude, the lifeline of its troubled economy, and Saudi Arabia agreed to increase production to help guarantee that the price did not skyrocket. While prices have remained relatively stable, and Tehran’s treasury has been squeezed, the United States is left increasingly vulnerable to a region in turmoil.

How did this happen? The Keystone XL is not mentioned in this article.

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