On Tap For Friday; BEXP With Two Nice Wells; OXY Reports Another Well; Apple Sells Out Of iPad Minis at Flagship Boston Store; Unemployment Edges Up; Robust Hiring Past Month; Futures Up

Updates

November 5, 2012: contractors without "permission slips" are being turned away from tree-clearing work in Sandy-savaged New Jersey. Unlicensed homeowners are using unlicensed teenage children to clear downed limbs, trees, ... possibly even raking leaves. I can't make this stuff up. When you get to the linked story, there's only a video, but it's the comments that are a hoot and worth reading. "Nanny state" comes to mind.


November 3, 2012: see comments regarding union / non-union worker issues in New Jersey. I think it's becoming clearer. In fact, it probably occurred: union workers threatening non-union workers about entering the state of New Jersey. The "official" line from the companies is that they are not turning back "non-union workers" but that's at the home office, not in the trenches, where it is likely occurring. It is interesting that the governor has threatened to invoke his powers under the "Disaster Control Act" to preclude this from happening, but apparently to date he has not invoked those powers.  The fact that the governor has made this threat, but stopped short, speaks volumes.

Later, 4:54 pm: the only question regarding the new Apple iPad mini? White/silver or black/slater? One has to actually hold the iPad mini to believe it. It is absolutely incredible. Superficially, it resembles the look and feel of the Kindle and/or the Barnes and Noble Nook but there's something about the iPad mini that seems to be so much more ... shall I say, solid? It certainly is more robust in what it can do. And it makes the MDW blog look stunning.

Original Post

I arrived at the Apple Store on Boylston Street, Boston, at 8:43 a.m. The line was about 30 people long, and they had closed it to any more coming in to look at/buy the iPad mini.  They had been letting folks in at two or three at a time. They had already sold out the allotment of iPad minis (wi-fi version only) for today. But they will open at 10:00 a.m. for regular business. I will be there. Now at Starbucks down the street. Beautiful, beautiful day in downtown Boston.

Update: the iPad mini is incredible.

iPad mini promo

Drudge Report: unemployment higher today than when the president took office; what do we have to show for it? $16 trillion in debt. But markets look robust; futures up. Disclaimer: this is not an investment site. Oil down slightly. Americans are content/satisfied.

CVX: earnings drop by a third; 

The following wells come off the confidential list:

• 11502, PNA --> loc (5/2/2012), Encore, Wegman 2-30, Horse Creek, a Red River well;
• 20689, drl, Zenergy, Patsy 5-8H, Siverston,
• 21468, 2,522, KOG, Koala 14-32-29-4H3, Poe, t9/12; cum 25K 9/12;
• 21505, 349, OXY USA, State Watkins 1-26-35H-143-95, Murphy Creek, t5/12; cum 20K 9/12;
• 21543, 3,203, BEXP, Knight 35-26 1H, Banks, t9/12; cum 20K 9/12;
• 22362, 593, CLR, Kolstad 1-28H, Corinth, t7/12; cum 16K 9/12;
• 22461, 3,545, BEXP, Liffrig 29-20 4H, Alger, t7/12; cum 53K 9/12;

On a completely different note, one certainly gets the feeling that the lack of gasoline and electricity outage in NYC is going to become a much bigger story than most folks initially realized. Drudge always gets it right. He reports that non-union crews were turned away from New Jersey; then recalls the president's "no-red-tape" pledge. Sounds like his "all-the-above" energy policy. Wow. [Update: on CNBC moments ago, 1:20 p.m., November 2, 2012: some union spokesmen are unhappy that the Jones Act was suspended during this emergency, because it might mean some work might not go to Americans during this recovery effort. Wow.]

And from CBS:

“Red Cross is here with hot chocolate and cookies. We need blankets, we need pillows, we need clothing. We can get hot chocolate and cookies, we need help!” resident Jodi Hannula said.

It was almost too much for Hannula to bear. She said she had 30 years of memories washed away by flood waters.

And with no flood insurance, she said she’s been pleading for help, but finding little.

“You hope that the government does the right thing and steps in and helps us out. We have been looking for FEMA, [but] FEMA has not been here,” Hannula said.

At least the Red Cross showed up. FEMA? They will be there next week with clipboards.

RBN Energy: propane. 

Waiting for GMXR to report (I think they report today November 6?). I believe I may have posted this or linked this earlier; it was released earlier this month, GMXR update of two of their Bakken wells:

The Akovenko 24-34-2H (#21544), in which the Company has a 92% working interest, is the first Company-drilled well with oil-based mud. The well is located in Sections 27 & 34, Township 146N, Range 99W in McKenzie County North Dakota. The well reached total depth in less than 30 days and drilling costs were $4 million, in line with our estimates. The plug and perf completion is targeting the Middle Bakken, and we expect oil production to be in early November. This well will be the first plug and perf completion in McKenzie County for GMXR in the Middle Bakken and in a lateral drilled with oil-based mud. Fracture stimulation of the 40-stage well began this week. [Note, Akovenko 24-34-1H, GMXR, had an IP of 1,409, file #21545; it runs to the south, whereas "2H" runs to the north. "1H" had a nice IP but it's production has been lousy, and it has been off-line much of the time since being completed.]

The Lange 44-31-2H (#23634) in which the Company has a 89% working interest, is located in Sections 30 & 31, Township 147N, Range 99W in McKenzie County North Dakota. We expect the well to take approximately 30 days to reach total depth which will occur in early November. The well will be our second well drilled with oil-based mud and will be completed with a plug and perf fracture stimulation.