Thursday Links: AXAS - Plenty of Water for Fracking; CBR Narrows the WTI-Bakken Differential; Permian Will Exceed Takeaway;

I will be out and about the rest of the day, so I am consolidating a bunch of links. A little bit for everyone. For newbies: I generally post a dozen stand-alone posts every day, so scroll down for new posts so far this morning. More will be coming this evening.

I will be out and about when I miss the announcement that Hillary has replaced Joe.  With Paul Ryan as the Republican VP selection, it's time for Barry to get serious. Enough of Joe's gaffes. If folks think Paul Ryan energized both camps, wait until Hillary is named.

RBN energy: CBR -- narrows the WTI-Bakken differential

Bentek: Permian oil will exceed takeaway capacity next year (Reuters: "outside the housing industry, the rest of the American economy has looked wobbly..." -- are they kidding?)

Crude oil production in the Permian basin -- a carbonate and sandstone prospect in Texas and New Mexico -- will rise by some 60 percent to reach at least 1.82 million barrels per day by the end of 2016, energy consultancy Bentek said on Wednesday.

Output will surpass existing pipeline capacity by early next year, Bentek added, while noting some 1 million bpd of new takeaway capacity is slated to come online by the end of 2014.

Don sends the following, page 14 of the AXAS presentation, August 9, 2012:

That's a good question, John.

North Dakota, luckily, is a very pro-business, pro-industry state, as you know. We have been a little bit more proactive in that ... we have actually discovered, if you will, a subsurface aquifer of water that's not quite potable, so you can't put it on your crops, you can't drink it .. but it's adequate for fracking wells. We are actually in the permitting process to drill a water supply well on our existing land [where] we own the surface. We're in the process of building a big, freshwater lake, which should be completed by next week. That well will be pumped into the lake. That lake will serve all 30+ wells that we plan to frack in the area by pipeline. We won't have to truck it. It's a tremendous cost-savings for us, and it also could be a source of revenue for selling water to other operatros in the area.

So, we don't see any issue with water in North Dakota. We don't see any issue with water in south Texas. There's plenty of subsurface water there, despite what the media would lead you to believe. So, we don't have the issues that you have in the Marcellus, plus most of the citizens in Texas and North Dakota support the industry, which again, you don't have up there, unfortunately. 

Seven more Americans killed in Afghanistan. Helicopter crash. Way overdue to get out of this quagmire.  Should have been out years ago.

Seventy-one percent of voters want more oil and gas development. Well, duh. The president's approval rating, down to about 43%.