The Condensate-Export Process -- RBN Energy; August 8, 2014

Bakken101: nationwide data -- the number of horizontal wells hit a record high last week. It broke the record set in the previous week ending July 25, 2014. The story at the link focused on the Permian but information has relevance for the Bakken.

Update on the section in Mandaree oil field in which EOG could place "not more than 32 wells in one 640-acre unit." No new wells, but the IPs and cumulative production for wells sited in this section have been updated.

OXY USA production numbers have been updated for all OXY USA wells reported in the Bakken prior to 2012. Link here.  When you get to the link, scroll down, until you get to December, 2012, and then scroll through the production numbers. Maybe one in ten wells has total production greater than 100,000 as of June, 2014, after testing in 2010 or 2011. OXY does have a couple of great wells, but they seem to be far and few between.

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The Los Angeles Times sports: huge story -- regular readers know what this is all about -- Katie Ledecky beats Missy Franklin in 200 freestyle. The lede:

Was there another swimmer with the potential to dominate races?

No one immediately came to mind.

In fact, the only comparison he could think of was Shane Gould, the Australian who held every world freestyle record from the 100 to the 1,500 meters in the early 1970s.

Ledecky's not there yet, but that's how high her potential is, Gemmel said.

Ledecky, just 17, is showing that potential at the 2014 National Championships in Irvine. After dominating the 800-meter freestyle Wednesday, Ledecky followed that up by finishing more than a body length ahead of Missy Franklin to win the 200 freestyle Thursday.

The 200 free isn't usually classified as a sprint, but for the endurance-based Ledecky, "Everything under the 800 meters is a sprint.

When Allison Schmitt, the reigning Olympic champion in the event, didn't qualify for the final, the 200 free became about Franklin, 19, and Ledecky. They are not just America's two best female swimmers, but two of the best in the world, young enough to be the faces of the sport for at least the next Olympic cycle.

Active rigs:

	8/8/2014	08/08/2013	08/08/2012	08/08/2011	08/08/2010
Active Rigs	193	182	199	187	141

RBN Energy: a must-read on the "condensate-export" process.

After a WSJ story broke in late June that the Commerce Department’s Bureau of Industry and Security (BIS) had permitted the export of condensates by Enterprise and Pioneer, a good number of additional export requests were received by the agency.  Then a couple of weeks ago, Reuters reported that the BIS had put a “hold” on the approval of any more requests, implying that potential condensate exports were in limbo. 

Turns out, as we understand it, there is no limbo – it is nothing more than an administrative process that takes time for any of these requests while the applicant is providing additional supporting information that the BIS requires.  

There has also been misunderstanding in the industry about the process of receiving BIS approval for exports.  But in fact, approval is a fairly straight forward process of having BIS agree that your product should be classified as something designated EAR99 and assigned a CCATS number – for Common Classification Automatic Tracking System. 

At the link, RBN Energy explores this process and what it takes to get condensates approved for export.

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Poll

It looks like we can take down the poll with regard to the PGA Championship. It appears that Tiger Woods is going in the wrong direction. Starting off +3 going into the second round, he is now +6, with one bogey and just carding a double bogey on hole #6. [Update, he just bogeyed #7; now +7.] So, unless he withdraws before the day is over, it will simply be he missed the cut:

• Miss the cut: 57%
• Make the cut but withdraw: 7%
• Withdraw before the end of the 2nd round: 20%
• Finish, but not in the top 30: 13%
• Win the tournament: 3%

Obviously, "winning the tournament" was tongue-in-cheek or pure idiocy.

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The White House Channel

See if you can spot the error

The error: The 42 people killed -- that's only since July. Ever since Algore started warning us about "global warming," many more Chinese than just 42 have been killed by giant hornets. The giant hornets are attracted to human sweat, alcohol and sweet flavors and smells. They are especially sensitive to when animals or people run ... so, if attacked, don't run.