NASCAR! Who Wudda Guessed?

Thank goodness for The Drudge Report and the internet. Link to Breitbart.

The Senate-passed tax and spending bill has something for NASCAR:

The "fiscal cliff" deal reached by the Senate and the White House on New Year's Eve, and passed in legislative form by the Senate early New Year's Day, includes many giveaways to special interests --including an extension of a perk enjoyed by "motorsports entertainment complexes" otherwise known as the "NASCAR tax credit."

The provision, under section 168(i)(15) of the federal tax code, allows speedways to write off their costs over seven years. Typically, such expensing occurs over a much longer period of time, from 15 to 39 years. The cost of the NASCAR tax credit to taxpayers has been estimated at some $40 million--over and above any tax incentives provided by state and local authorities.

My hunch is that most senators were unaware of the giveaways, except for the ones they inserted. Like the ObamaCare bill, they read the bill after it's passed.

Hollywood gets a tax credit also. Sooner or later, the wind lobby will get their tax credit renewed, too. No wonder some House members (on both sides of the aisle) won't vote for this bill.

Chesapeake's Experience in North Dakota To Date: Largest Failure in Recent oil History In North Dakota

Link to KXNews -- provided by Don.

From the article: "It's the largest failure in recent oil history in North Dakota."

While production [in the Bakken] continues to ramp up daily, there is one part of western North Dakota where the excitement of oil has gone bust.

Chesapeake's attempt to find the southern edge of the Bakken, is being described as the largest failure in drilling in the state since the 1980's.

Data points:

• Chesapeake secured leases in a large part of the state, south of I-94
• drilled 8 wells, only 3 produced any oil -- but minimal amounts
• all holes are shut in
• Chesapeake's investment in this area: $60 millions; excludes money spent on leases

Elm Tree Oil Field in The Bakken Has Been Updated

Link here to the Elm Tree Oil field. There are some huge wells in this small field; one example, this CLR four-well pad:

• 21491, 835, CLR, Bohmbach 4-35H, Elm Tree, t7/12; cum 35K 11/12;
  21490, 736, CLR, Bohmbach 3-35H, Elm Tree, t7/12; cum 51K 11/12;
  21489, 823, CLR, Antelope 4-23H, Elm Tree, t8/12; cum 90K 11/12;
  21488, 1,357, CLR, Antelope 3-23H, Elm Tree, t8/12; cum 99K 11/12; 

Notice that two wells have produced almost 100,000 bbls each in less than four months.  In addition, they have produced about 20,000 boe in natural gas, and most of it has been sold, not flared.

Wells Coming Off The Confidential List Tomorrow; Slawson and Denbury Have A Nice Well Each

Wells coming off confidential list today, and yesterday (will be reported tomorrow):

Wednesday, January 2, 2013

• 21120, 1,135, XTO, FBIR Huntsalong 31X-2, Heart Butte, t9/12; cum 17K 11/12;
• 22483, drl, Samson Resources, Coronet 2413-4TFH, Ambrose,
• 22853, 687, Fidelity, Isaac 11-23H, Sanish, t7/12; cum 40K 11/12;
• 22876, 598, Hess, GO-Foss Trust 156-97-3526H-2, Dollar Joe, t9/12; cum 20K 11/12;
• 23055, 781, CLR, Rixey 3-28H, Lone Tree Lake, t9/12; cum 18K 11/12;
• 23109, 1,217,  Slawson Exploration, Wolverine Federal 2-31-30H, Elm Tree, t9/12; cum 54K 11/12; 

Tuesday, January 1, 2013

• 22632, drl, BEXP, Marcia 3-10 4TFH, Last Chance,
• 22860, 1,471, Denbury Onshore, Madson 21-33SEH, Charlson, t10/12; cum 35K 11/12;
• 22875, drl, BEXP, Pyramid 15-22 1H, Todd,

23109, 1,217,  Slawson Exploration, Wolverine Federal 2-31-30H, Elm Tree:

Date	Oil Runs	MCF Sold
11-2012	18055	0
10-2012	26645	0
9-2012	8730	0

22860, 1,471, Denbury Onshore, Madson 21-33SEH, Charlson:

Date	Oil Runs	MCF Sold
11-2012	15280	23652
10-2012	19282	9295

The "Red Queen" Commentary -- #3 Over At The Oil Drum

Some folks may remember the "Red Queen" commentary at The Oil Drum back in September, 2012.  The Oil Drum has also been posting their top ten blogs over the past few days.

Here's the link to the re-post of that commentary. It was ranked #3 among all The Oil Drum posts in 2012.

And this is the link to the original "Red Queen" post.

As usual, the comments are often the best part of some of these blogs.

Crazy Man Creek Has Been Updated -- The Bakken

What a great way to start off the new year!

A reader suggested I look at the nine Oasis wells in one section in Crazy Man Creek oil field. The field has been updated.

There are some huge wells in that field. When you get there, scroll down to the original post and look at the nine (9) Oasis wells in one section.

Rose Parade 2013 Order of Events -- Absolutely Nothing To Do With The Bakken -- There Is No Bakken Float In The Parade

Some interesting observations

Comment: My favorite car which I've talked about several times: the Honda Civic.
Observation: the pace car and sound car for the 2013 Rose Parade is a Honda.

Comment: ditto
Observation: the first float is sponsored by American Honda; no floats sponsored by GM or Ford

Comment: neat
Observation: Dr Jane Goodall is the Tournament of Roses Grand Marshall

Comment: really neat; I come from a family of nurses
Observation: the 21st entry is "The Nurses' Float"

Comment: really, really neat:
Observation: the 40th entry is "The Salvation Army Tournament of Roses Band"; their 93rd year in the Tournament of Roses parade

Comment: interesting
Observation: the 44th entry is "China Airlines"; no floats sponsored by an American airline

Comment: cool
Observation: the 51st entry is the "Sioux Falls, South Dakota, Lincoln High School 'Patriot' Marching Band"; see below

Comment: amazing, but not sure why it's "in" the parade
Observation: the 77th entry is the USAF B-2 bomber; it will be a flyover

Comment: the biggest reason to watch the parade
Observation: the 91st entry is the "All American Cowgirl Chicks"; see below

Highlights

The Lincoln High School Marching Band:

The Lincoln High School Marching Band is under the umbrella of the Lincoln High School Band program and is the product of five concert Bands that meet on a daily basis throughout the school year. The Program’s elite Symphonic and Concert Bands are audition only and comprised of students who study music privately outside of school. In addition, the program also has three active jazz bands that also meet daily, as well as a pep band and an active solo and ensemble program. Three orchestras and five choirs round out the robust Music Department at Lincoln.

The Lincoln High School Marching Band has a long tradition of outstanding accomplishments including: • FOUR Tournament of Roses Parade appearances: 1992, 1998, 2005, 2013 • THREE Macy’s Thanksgiving Day Parade appearances: 1994, 2000, 2008 • Sweepstakes trophies at numerous local and regional competitions throughout the Upper Midwest, including the sweepstakes trophies at the 2011 Sioux City, Iowa ‘Starfest’ field competition; the 2011 ‘Valleyfest Showdown’ in Des Moines, Iowa; and, 2011 University of South Dakota ‘Quad State’ field competition, the 2012 'Tri-State' band festival in Luverne, Minnesota, and the 2012 'Big Sioux Review' in Brandon, South Dakota. • The drum line was regionally undefeated from 2001 through 2006, and again from 2009 through 2011. • The Lincoln High School Band Program has had record numbers of students in the South Dakota All-State Band for the past 13 years. In 2010, a state-record thirty-seven students made into the South Dakota All-State Band from Lincoln, comprising nearly one-fourth of the group.

The All American Cowgirl Chicks:

Most of the Cowgirl Chick horses are rescue horses. They believe in giving a second chance to these horses that they call the Heart of a Champion. Since 1998, Trish lynn started gathering horses for a group of Cowgirls from Weatherford, Texas, known as the Cowgirl Chicks. After performing at the historical North Side Coliseum, the site of the first indoor rodeo, Fort Worth Stockyards Championship Rodeo, Hub Baker renamed this daring group of Cowgirls “The All American Cowgirl Chicks” because of their display of patriotism during their performance. They are now one of the most sought after rodeo entertainment teams in the industry today. The team they are today would not have been possible if not for the incredible group of horses they have gathered over the years. The Cowgirl Chicks were never financially able to go and purchase expensive, well trained horses. The Chicks had to make due with animals other people did not want or decided were not fit to ride and were considered dangerous. The Cowgirl Chicks had to make something out of a group of misfit horses or their chances of becoming a performance would never exist. With many hours of blood and sweat they put their heart and soul into training these horses. The group of horses you see some were abused, cast away, or just unwanted, but have become an Olympic level performance horse.