Saturday, October 19, 2013

Week 42: October 13, 2013 -- October 19, 2013

Best article of the week
Why the skeptics were wrong on the Bakken 

Best graphic of the week
CLR's graphic of 34 wells in one spacing unit

Best number of the week
North Dakota production surges; new record; up 4%

Some nice wells for Whitiing in its Pronghorn Prospect
Is something going on with Oasis?
NOG production: from 140 bbls of oil per day in 2008, to 13,000 bopd this year
Slawson with some nice wells
Update on Samson Oil & Gas operations in Stockyard Creek, east of Williston
Some are predicting North Dakota will report one million bopd by end of the year
Update on permits in North Dakota
Director's comment on the Federal fracking rule
QEP asking to unitize the Helis Grail; what it means for mineral owners

Other formations
Another Madison well added to the monster list of wells

Dickinson to get a $100 million event center?
North Dakota #2 in business climate; Minnesota #47 on tax list (worse end of list)

Denver conference, Bakken takeaway, January 29 - 30, 2013
OXY USA to sell its position in the Bakken?

After seven years of the Bakken, folks still don't get: Wall Street analyst says KOG is a MLP paying a huge dividend
Schlumberger doesn't even mention the Bakken in 3Q13 earnings conference call, same link
On energy: the center of gravity has shifted from the Mideast to the Midwest

For investors only
Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here. 
This was an incredible week for Bakken companies; SLB surged 8%  

Two Random Comments

Ignore this article at SeekingAlpha: way too many errors. Note the comments at the article. The writer does not seriously follow the Bakken; he follows "stocks." Whatever that means.

Second: a note I sent Don regarding Schlumberger's 3Q13 earnings conference call:
I am so focused on the Bakken, I lose sight of the overall global oil and gas business.
SLB would be one way to get a feeling for the global situation.
In 3Q13 earnings call, SLB did not even mention Bakken or North Dakota (directly): at least I did not see it and a word search did not pick up either "Bakken" or "Dakota." Eagle Ford is barely mentioned; twice, and only in passing in Q & A. The Bakken, interestingly, simply does not appear to be on the "big boys" radar scope.
There was a lot on "North American operations" and perhaps I am missing the bigger picture here, but not even mentioning the word "Bakken" helps me put this play in perspective with the rest of the world.

A Note To The Granddaughters

I stayed overnight in Rapid City, SD, arriving about 8:30 pm last night (local time, Mountain Time). It was quite cold last night.

From the interstate it looked like Las Vegas, the "water vacation" motels huge, lit up, and parking lots so full, I drove in and drove out, looking for a more accessible place to stay. I ended up at Comfort Suites across the road; plenty of room. Not as cheap as advertised. Very nice suite. 95% more than I needed, and probably why I paid 95% more than I wanted. (I usually just sleep in the car on cross-country trips but I will be visiting friends in about four hours so I thought a nice rest, shower, shave, etc., would be appropriate. This certainly beats the days of hitchhiking, which really don't seem all that long ago.)

At breakfast. CNN, of course, is on.

I had forgotten how much I disliked television. I haven't seen live TV in over three or four months -- except for NASCAR back in August on two or three occasions. I've even quit watching NASCAR: based on comments at Yahoo!Sports others have noticed what I've noticed -- the fix is in when the races get boring: a fictitious caution at "20 laps to go" and then a sprint to the end. The last 20 laps will play out one of two ways: the guy in the third row, who was almost a lap down because he picked up four new tires, will spurt to the lead and coast to victory; and/or, a Keselowski-like crash forcing a "green-white-checkered flag" ending, which sounds like three laps, but is in fact, two laps with a start taking up about 25% of the final two laps. After driving for four hours, it must be a relief for drivers and viewers that it's finally ending.

I had also forgotten how much I dislike these "free breakfasts" offered by motels. I have so much to write about that, but most of it is inappropriate so I will leave this subject for now. [I know I am back in the Dakotas: for bagels -- white plain bagels only choice; no butter, no cream cheese. But plenty of peanut butter.]

I was impressed with all the snow-weather reports on television. I was even more impressed with the look on people's faces watching the snowfall. If people have trouble understanding the weather, wait until they try to understand ObamaCare. They will find out they have a health insurance policy that doesn't provide "free" health care. Obama and Congress "own" ObamaCare. The Tea Party should move on. We will see the trainwreck by July, 2014.

So, today.

I will read the book I received from Amazon just before departing home 36 hours ago: The 4% Universe: Dark Matter, Dark Energy, and the Race to Discover the Rest of Reality by Richard Panek. I read the first couple of chapters while driving (yes, the roads in the midwest are that straight and the traffic is that light in some cares). It is really, really well written. I am still reading The Neanderthal Enigma. It's miserably written. There really is a difference among science writers, and my first impression of Richard Panek is "okay." Not the best, but so much better than James Shreeve, at least based on very, very limited writing.

Then, on the road again, I'm on the east side of "Rapid," so through the city first, then straight north to the Bakken. I will stop to see friends in Bowman, ND, first, probably spending the weekend there.