Energy Links for the Past Two Days

RBN Energy: confusing condensate export regulations. 


US oil production surging so fast, could outproduce Saudi Arabia, become world's #1 oil producer -- link here to Bismarck Tribune.

U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

The boom has surprised even the experts.

"Five years ago, if I or anyone had predicted today's production growth, people would have thought we were crazy," says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm.

Bloomberg: update on slide in oil prices, link here to Bloomberg -- 

Brent crude rose on evidence of a stronger economy in China, the world’s second-largest oil consumer, and signs that previous price declines were overdone.  

Remember that $27/gallon diesel sold to the US Navy? Don thinks it was this company and it looks like he is correct:

• SoladieselHRF-76® is renewable diesel for ships. It's currently being used as the base fuel for testing and certification of renewable F-76. To date, Solazyme is the only company to provide the U.S. Navy with fully in-spec SoladieselHRF-76®.
• Solajet™ is the world's first 100 percent algal-derived jet fuel, for both military and commercial applications. The fuel has been used in a U.S. Navy testing and certification program. Solajet™ meets all military specifications for HRJ-5 jet fuel and all non-petroleum commercial specifications for ASTM D 7566.

RBN Energy: the third in a series of reports on pipelines in the northeast United States, subsequent to the Marcellus

Short video of huge natural gas flare in the Bakken, sent in by Greg (for more information, go to YouTube where it is posted:

• 22174, Whiting, Kannianen 22-32XH --

Flaring in the Bakken, Whiting's Kannianen 22-32XH

Earnings:

Yesterday, it was noted that four companies of interest would be reporting 3Q12 earnings on Tuesday:

• Facebook -- Facebook's stock soared more than 20 percent after the social-networking giant reported its revenue surged 32 percent, topping expectations, thanks to gains in mobile. At least four brokerages boosted their price targets on the company, while Citigroup, BofA Merrill and Stifel raised their rating to 'buy.'
• Nabors (NBR) -- at 42 cents, soared past estimates
• Newfield (NFX) -- missed expectations; shares slammed; down almost 20%; the conference call will be most interesting
• Norfolk Southern -- beats by a penny; but earnings down 27% yoy due to decreasing coal shipment

Today, Wednesday, Whiting reported: misses by 3 cents; beats on revenue; production up 

Trinity Industries (TRN): There aren't a whole lot of companies raising guidance for full year 2012. This company is. In addition, the company reports 100% earnings growth in 3Q12. It has seven months' worth of new railcars backordered. This company recently bought OTTR wind turbine manufacturing plant in Fargo; some opine that TRN will be building something other than wind turbines in this plant.

Coal industry still struggling: Peabody coal to layoff more workers; at least one campaign promise seems to be on track

Global warming 2012-2013 news: early snow wallops California; the AP used the word "walloped";

Encana will bring back production after taking if off-line due to low price for natural gas; a PDF file.

During the first half of this year, when natural gas prices were at their lowest in the last 10 years, Encana shut-in or curtailed approximately 500 MMcf/d of production. Beginning in August, Encana began bringing the volumes back online with the goal that all shut-in and curtailed volumes would be back on-stream prior to winter. With production volumes now largely restored, the company re-affirms its 2012 production guidance of 3.0 Bcf/d.