Statoil, XTO, BR With Great Wells / "High IP" Wells In The Bakken; Nine (9) New Permits -- June 30, 2014; 5 Of 8 Producing Wells Go To DRL Status -- Waiting To Be Completed

Again, the mainstream media doesn't make it easy. Earlier it was reported GM recalled another 8 million ignition-switch-vehicles. So, 8 million. What does that mean? The entire US automobile production on an annual basis is 4 million cars. So, this most recent recall is equivalent to two full years of all US automobile production. Government motors culture run amok. The number varies from 8.23 to 8.4 million. Whatever.

The New York Times is reporting:

In a vast escalation in its safety crisis, General Motors recalled more than 8.4 million vehicles worldwide on Monday, bringing its total figures for the year above 28 million cars — more than the 22 million recalled last year by all automakers combined.

Stunning fact of the day, June 16, 2014. 

So, with that, let's get on with today's daily activity report coming out of North Dakota, where they don't make cars with faulty switches. Not one car was produced last year in North Dakota which had to be recalled due to a faulty 38-cent ignition switch designed in Detroit, manufactured in China.

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Wells coming off confidential list Tuesday, the first day of the new quarter:

• 23140, 409, OXY USA, State Andrew Schmidt 2-3-10H-143-97, Crooked Creek, t1/14; cum 32K 5/14;
• 23141, 623, OXY USA, State Andrew Schmidt 3-3-10H-143-97, Crooked Creek, t1/14; cum 42K 5/14;
• 26496, drl, Hess, GN-PNR-158-98-1003H-1, Rainbow, no production data,
• 26664, drl, Hess, HA-Link-152-95-3526H-5, Hawkeye, no production data,
• 26771, drl, CLR, Winston 7-12H, Long Creek, no production data,
• 26852, drl, SM Energy, Bonner 9-12H,  Poe, no production data,
• 26930, 13,91, Oasis, Monson 18-19H, Foreman Butte, t3/14; cum 11K 5/14;
• 27195, drl, XTO, Emil 24X-36B, Wildcat (on the Williams/Divide County, north of Williston, it's a wildcat but has producing wells in the area; 

Active rigs in North Dakota:

	6/30/2014	06/30/2013	06/30/2012	06/30/2011	06/30/2010
Active Rigs	190	189	215	173	129

Nine (9) new permits --

• Operators: Hunt (4), Oasis (3), CLR (2)
• Fields: Smoky Butte (Divide), Baker (McKenzie), Elk (McKenzie), Green Lake (Williams)
• Comments: there were two additional permits that did not show up on either yesterday's or today's daily activity report but were granted on either today or yesterday: one for EOG in Parshall oil field (Mountrail) and one for Slawson in Clarks Creek (inside the reservation, Dunn County)

Wells coming off the confidential list over the weekend, today were posted earlier; see sidebar at the right.

Twelve (12) producing wells were completed:

• 24183, 1,949, Statoil, Folvag 5-8 4TFH, Stony Creek, t5/14; cum --
• 24808, 366, CLR, Wahpeton 10-16H2, Banks, t6/14; cum --
• 24842, n/d, CLR, Wahpeton 5-16H2, Banks, producing, no IP yet;
• 24844, n/d, CLR, Wahpeton 7-16H3, Banks, producing, no IP yet;
• 25644, 3,008, Statoil, Bill 14-23 6H, Alexander, t5/14; cum --
• 25645, 1,578, Statoil, Bill 14-23 4TFH, Alexander, t5/14; cum --
• 25934, 221, Murex, Stephanie Catherine 18-19H, t6/14; cum --
• 25979, 2,412, XTO, Inga Federal 41X-29D, t5/14; cum --
• 26092, 1,643, BR, Big Bend 21-2TFH, Camel Butte, t6/14; cum --
• 26191, n/d, CLR,  Montpelier 3-14H1, Indian Hill, producing, no IP yet,
• 26420, n/d, CLR, Montpelier 2-14H, Indian Hill producing, no IP yet
• 27684, 1,596, Whiting, Uran 11-24-2H, Sanish, t5/14; cum -- 

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A Note to the Granddaughters

It was pretty much an oath that Air Force commanders took when taking command: it was their intent to leave the installation in better shape than they found it.

I was reminded of that when I read the headline today that President Obama is sending 200 ground troops back into Iraq.

Five years into his presidency and almost as many years into the recovery, the economy collapsed (their word, not mine) in 1Q14. A trillion dollars of stimulus and I don't think mainstream America feels much better in 2Q14 than they did in 2Q09.

One of the architects of ObamaCare has called it a trainwreck and decided not to run for re-election. Apparently, based on headlines in The Los Angeles Times, Obamacare is a wreck out in California.

The Veterans Administration, despite multiple warnings, and a promise when he took office to "fix it," (or maybe that promise was back when he was a junior senator) is in worse shape than ever before. The VA has been without a director for who-knows-how-long, the last director leaving in disgrace, and the first man asked to replace him said, "no." We still don't have a director.

We're now up to 13 or 14 Supreme Court cases in which the President was on the wrong side or was blatantly accused of overstepping his executive powers. Even his appointees ruled against him in seldom-seen 9-0 rulings.

In Maryland, which can be seen from the President's bedroom on a clear night, the driving public will be facing the highest gasoline prices in six years, partly because the president failed to take advantage of the one bright spot in "his" economy: the oil and gas revolution in the United States. After six years he still can't decide "yes or no" on a pipeline that becomes more irrelevant very day.  No one will blame George Bush for low gasoline prices.

Institutions whose integrity seemed beyond reproach have carried the president's water: first, The National Geographic has a cover with the Statue of Liberty halfway under water (that's either irony or "no pun intended"), and now NOAA, the nation's watchdog for climate matters has quietly changed its website to say that July, 1936, was the hottest month ever in the United States, not July, 2012, which NOAA had previously said was the hottest month ever, and crowed about it every chance it got.

The US consulate in Beghazi is certainly not in better shape than when he took office. His own IRS is caught red-handed (is it politically correct to say that any more?) trashing hard drives, destroying evidence in the minds of most, and it's a shrug of the shoulders. 

I suppose the one bright spot we have is on immigration. We finally have ipso facto immigration reform: those coming across our southern borders and those watching those coming across our southern borders now call immigration reform "open borders." It sort of makes one wonder why folks from Europe even have to go through "passport control" when arriving at JFK or Atlanta. It's very likely the president will appoint a US High Commissioner of Refugees (Michelle) before it's all over, a directorate of Homeland Security to manage the entire situation, from refugee camps to resettlement to deportation. I assume reparations will be paid to those "forced" to wait in refugee camps or those who have to fly discount airlines. The President is acting quickly to disperse this mass of humanity by trucking, busing, and flying the newcomers away from the borders as quickly as possible. A video of ten-thousand refugees along the Arizona border is not going to play well in Peoria. If any of these new citizens-to-be make it to New York City, they will be allowed to drink any size soft drink they want. And that's probably all they want, anyway.

I understand the big story on ABC national news this evening, according to my wife, was the tornado weather in Iowa. And so it goes.

On a positive note: the market had a relatively good day. The oil and gas sector, again, did particularly well. Futures tomorrow are particularly noteworthy, and positive. What a great country.  Oil continues to hold its own.

[The other day I suggested the Ukraine/Russia called a cease-fire because of the first round in the World Cup. The first round is over, the games now move to the second round, and lo and behold, Ukraine has called an end to the cease-fire.]