From Seeking Alpha On Monterey Shale, California; TrainWreck In California; California Blue?

The link:

• The revelation that California's Monterey Shale deposit will yield only 4% of what was originally hoped was not a big surprise to those in the know, who say the downgrade does little to alter the near-term trajectory of the energy renaissance.
• Monterey's terrain, as well as California's strict environmental regulation, always meant full scale drilling would be difficult; Chevron bemoaned the lack of profit derived from its Monterey operations at a 2013 shareholders meeting, and Venoco - once one of the biggest drillers in the formation - exited most of its Monterey acreage years ago in order to reduce debt and go private.
• The Monterey news does spotlight an element of the shale boom that often goes unremarked by fracking advocates: Shale wells are prone to rapid depletion rates, as spots in North Dakota's Bakken lose 85% of their capacity within a few years.

EOG's expectation is that Bakken wells will pay for themselves in one year, and possibly six months. All wells deplete. It's all about cost of wells, return on capital, and EURs. Even with a fast depletion rate, the production does eventually tend to level off; while the well is producing, the lease is "held by production." Bakken wells are expected to produce for 39 years. The rate of depletion is a metric well-understood by regular readers. Readers may want to note the Bakken projections to put the "85% depletion" in perspective.

California Blue, Roy Orbison

This may just be my favorite song of all time.

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TrainWreck In California

ObamaCare Enrollees Cannot Even Get Something So Basic As An Insurance Card

The Los Angeles Times is reporting a trainwreck in California that is not George W. Bush's fault:

Nearly 1,500 Californians have complained to state regulators in the last four months about their Obamacare coverage purchased through California's insurance exchange.

New data reveal the biggest category of complaints centers on getting confirmation of health plan enrollment and basic issues such as getting an identification card to obtain care.

Many consumers have also encountered difficulty finding a doctor who accepts their new coverage, as well as frustration with inaccurate provider lists, according to the California Department of Managed Health Care.

"If you have a medical condition and can't get care that is a very serious issue," said Marta Green, spokeswoman for the managed healthcare agency. "We are still working to resolve many of these cases."

The 23 veterans who died in Arizona because they couldn't get an appointment suggests that Ms Green is correct: "If you have a medical condition and can't get care that is a very serious issue." Wow, where do they find these people. Acorn?

The good news coming from these acorns is that 1,500 represents a very small number of potential complainers. Let's go golfing.

[Voter ID cards: no. Heathcare ID cards: yes, but you can't get 'em.]

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And Now Mr Obama Throws Half of Mt Rushmore Under The Bus

Mr Obama says the Founding Fathers screwed up the Constitution, and that explains why his administration has failed. I guess it took more than George W. Bush to explain all his failures. I can't make this stuff up.