Recap -- October 6, 2014

All day it was quiet and then all of a sudden, around 1700, everything started pouring in. I posted so much between 1700 and 2100, I haven't had a chance to look at it. So, let's recap.

This is not an investment side. Do not make any investment, financial, or relationship decisions based on what you read here or think you may have read here. 

The market opened nicely this morning and it looked like it might be a good day for the bulls. Early on the Dow might have been up 70 - 90 points, and oil was down a bit. And then all of a sudden: the Dow drops into negative territory and oil recovers, above $90. What could account for that? How about a nuclear explosion in the Iranian desert? Yup, as crazy as that sounds, .... and it hardly warrants much discussion over at Drudge...pushed off the page by the implosion of the Obama administration -- with a question whether Bill (Clinton) can save the Democratic Party....

Tonight, all the stories that got posted, perhaps in order of least important to more important....most, possibly all, stories were sent to me....

Two stories on ethanol, mostly for the archives. In the big scheme of things, ethanol is a footnote in the North American energy revolution, but it just may affect CBR. Sweet irony. There's a great music video there, of all things.

Super Nova Petroleum announces it will drill another well in the Alberta Bakken, northwest Montana. The importance of the story: it reminds readers that there is a significant geographical difference between the Alberta Bakken (northwest Montana) and the Williston Basin Bakken (north east Montana) in Montana.

Oasis, Halcon, and Statoil each report a "high-IP" well. This is not all that unusual. Day in and day out the roughnecks and petroleum engineers are bringing in good wells. When the Bakken boom began, we got excited with 1,000-bbl IPs; now we see multiple 3,000-bbl IPs over the course of a couple days, and don't give it a second thought.

Phillips (PSX) announces it may build a CBR terminal in North Dakota. The reader reminded me he had sent me the article and had not yet seen it posted. I don't recall seeing it the first time, so I had to do a google search to find the story the reader sent me. Hopefully I got the right one. I'm mostly interested if any reader knows where PSX might be building that CBR terminal. 

This would have been the biggest story of the day had it not been for the OXY USA story (see next story): Targa Resources announces plan to "purchase of a 200 MMcf/d cryogenic processing plant to be located in McKenzie County."

The biggest story: confirmation of sorts that OXY USA is shopping their Bakken assets for about $ billion. I would never be able to find it, but in a recent CLR corporate presentation, CLR noted it had a $2 billion credit facility completely untapped. With Whiting's purchase of KOG, Whiting has bragging rights. 2 + 2 = 4.

Or maybe this is the biggest story: Natural Resources acquires, or Kaiser-Francis sells, a bunch of oil-producing acres in the Sanish oil field for about $60,000/acre.

All those stories came fast and furious. And in the middle of all this, the daily activity report with eleven producing wells that were completed -- including the three wells noted above that were "high-IP" wells.

But there will be more. At least one more story if I have the energy. It's 10:50 p.m. CDT and I need to take a break.