Odds And Ends

Venezuela falters.

North Dakota training diesel refinery operators -- fast tracking -- maybe President Obama will come out to see this job training, the kind of job training he keeps talking about. Jobs that pay starting wages three to four times minimum wage. With benefits.

Kansas to Maine: global warming to impact 100 million.  A major winter storm with heavy snow, ice and a wintry mix will reach from the central Plains to the Midwest and Northeast spanning Tuesday night and Wednesday. It will hit barely after some people had time to dig out from two prior storms in the Midwest and the Monday storm in the Northeast.

Another national pipeline and MLP in the news. Yahoo!Finance is reporting:

Texas Eastern Transmission LP, a unit of Spectra Energy Partners LP, filed with U.S. federal energy regulators to build a pipeline extension that would allow it to move natural gas from Ohio to the Gulf Coast.

In the past, most gas flowed from the Gulf Coast and the U.S. and Canadian West to the heavily populated U.S. Midwest and Northeast. But with record gas production in shale plays like the Marcellus in Pennsylvania and Utica in Ohio, pipeline companies like Texas Eastern are now looking to reverse the direction of some of their pipelines to move gas out of the Midwest and Northeast to meet growing industrial on the Gulf Coast.

Texas Eastern proposed in its filing last week with the U.S. Federal Energy Regulatory Commission to spend about $468 million to build 76 miles of 30-inch pipeline from the Kensington processing plant in Columbiana County, OH, to interconnect with Texas Eastern's existing hub in Monroe County, OH.

The project would turn a large segment of the Texas Eastern system into a bidirectional pipeline, the company said. The so-called Ohio Pipeline Energy Network Project would be capable of transporting 550,000 dekatherms of gas per day from Ohio to the Gulf Coast, the company said in the filing.

Nine (9) New Permits -- The Williston Basin, North Dakota, USA

Active rigs: 

	2/4/2014	02/04/2013	02/04/2012	02/04/2011	02/04/2010
Active Rigs	190	184	202	165	90

Nine (9) new permits --

• Operators: Hess (3), SM Energy (3), Baytex (2), Enduro
• Fields: Baskin (Mountrail), Camp (McKenzie), Blooming Prairie (Divide), Newburg (Bottineau)
• Comments:

Wells coming off the confidential list were posted earlier; see sidebar at the right.

Ten (10) producing wells completed:

• 25797, 1,068, Whiting, Uran 43-17-2H, Sanish, t1/14; cum --
• 25179, 1,894, KOG, P Wood 154-98-4-26-35-14H, Truax, t12/13; cum 2K 12/13;
• 26488, 1,770, KOG, P Wood 154-98-4-26-35-14H3, Truax, Three Forks B1, t12/13; cum 2K 12/13;
• 25474, 1,658, XTO, Kerbaugh 31X-4C, Beaver Lodge, t12/13; cum 5K 12/13;
• 25178, 1,880, KOG, P Wood 154-98-4-26-35-13H3, Upper Three Forks, t12/13; cum 2K 12/13;
• 25177, 2,044, KOG, P Wood 154-98-4-26-35-13H, t12/13; cum 4K 12/13;
• 25420, 846, Hess, CA-Halverson 154-95-0409H-6, Hofflund, t1/14; cum 7K 12/13;
• 25034, 651, Hess, LK-Thomas-145-97-3625H-4, Little Knife, t1/14; cum 3K 12/13;
• 25069, 467, Hess, EN-Hermanson A 155-93-3601H-3, Robinson Lake, t1/13; cum --
• 26051, 1,390, Whiting, Bartleson 34-20TFH, Sanish, t1/14; cum --

Name changes;

It appears that Hess is changing the way it names some of its well, for example:

• 26812, loc, Hess, EN-Hermanson-LE-155-93-3601H-3 (EN-Hermanson-2560-155-93-3502-3601H-3).

Obviously this is a permit for a 2560-acre spaced well, but instead of naming all four sections, it appears the well name will only include the two sections the horizontal is actually in. From the name alone, one cannot tell that it is a permit for a 2560-acre spaced well. I have to admit, the former designation was getting a bit long; it was probably causing havoc with the company's Excel spreadsheet. Smile. Also, note that these were still Hess Corp wells and not Hess Bakken Investments wells.

Oasis is also changing the names of five Shaw 6092 wells (permits 27463 - 27467); the name changes reflect new targets.

• 27463: will now target "T" and not "B"
• 27464: will now target "B" and not "T2"
• 27465: will now target "T2" and not "T"
• 27466: will now target "B" and not "T2"
• 27467: will now target "T" and not "B"

Wells coming off the confidential list Wednesday:

• 24053, 892, Petro-Hunt, Wisness 152-96-33C-28-5H, Clear Creek, t1/14; cum --
• 24320, drl, CLR, Raymo 5-31H, Dolphin, no production data,
• 25376, 526, Fidelity, Kubas 12-1H,  New Hradec, t8/13; cum 32K 12/13;
• 25451, 381, Baytex, Twin Butte 17-20-162-99H 1BP, Ambrose, t8/13; cum 37K 12/13;
• 25887, 2,834, BR, Blue Ridge 24-31MBH, Keene, no production data, but Blue Ridge wells are good wells; t1/14; cum --
• 25933, 163, Murex, Lexie Kay 31-30H, Wildcat, producing, far northwest corner of North Dakota, near Fortuna oil field/Writing Rock oil field; t9/13; cum 16K 12/13;

Another Bakken Crude Oil Pipeline Expansion -- Second Such Story In Two Days -- February 4, 2014

[The following was done quickly; there may be errors. I will check later.]

Yesterday a reader sent me the Enable story, an open-season for a intra-county/inter-county pipeline for gathering Bakken crude oil in Mountrail and Williams counties to deliver to an in-state regional pipeline. That would be a new pipeline.

I forget who sent me that story, but I think it was the same reader who now sends me this story, about a Bakken crude oil pipeline expansion. San Antonio Business Journal is reporting:

San Antonio-based pipeline and oil-storage company Tesoro Logistics LP is expanding its Bakken Area Storage Hub (BASH) terminal in North Dakota’s Bakken Shale area.

The company — a spinoff of refiner Tesoro Corp. — also said it’s seeking shipper commitments for a proposed 160,000-barrel-per-day (bpd) expansion of its Tesoro High Plains Pipeline system, which carries crude to Stampede, ND.

The proposed BASH expansion would be built near the pipeline’s Ramberg Station, allowing shippers to access multiple pipelines and rail-loading facilities, according to a Tesoro Logistics statement. The initial storage capacity at BASH is expected to be at least 1 million barrels of crude. The first 360,000 barrels of capacity is currently under construction, anchored by affiliate Tesoro Refining & Marketing Company LLC.

I thought I had posted a story on BASH some time ago, but I can't find it on the blog. I did not look too hard; I have to leave in a few minutes to take the granddaughters swimming.

At the Tesoro Logistics website/presentation, click on Citi 2013 MLP/Infrastructure Conference to see their Bakken pipeline operations, slides 10 and 11.  I assume this presentation will be at the link for only a few months.

North Dakota Rules On Flaring, Exemptions

A reader was kind enough to send the North Dakota code on rules regarding flaring after someone asked about it over at the discussion group.

Disclaimer: I am always gun-shy when it comes to cutting and pasting legalese on the blog. This is not a source document. I have not checked the following against the source document. There may be errors. There may be additional statutes that I am not aware of that affect the information below. This is only one small part of North Dakota code/statutes. If anyone sees errors, please let me know. Comments are heavily moderated on the blog in order to keep the discussion moving ahead. 

At the very end, below the asterisk divider, there are three non-statute statements from the reader who sent this in (with an introductory clause from me preceding the third statement).

The North Dakota statute regarding flaring - NDCC 38-08-06.4 states as follows:

1. As permitted under rules of the industrial commission, gas produced with crude oil from an oil well may be flared during a one-year period from the date of first production from the well. 

2. After the time period in subsection 1 (see below), flaring of gas from the well must cease and the well must be:

a. Capped;

b. Connected to a gas gathering line;

c. Equipped with an electrical generator that consumes at least seventy-five percent of the gas from the well;

d. Equipped with a system that intakes at least seventy-five percent of the gas and natural gas liquids volume from the well for beneficial consumption by means of compression to liquid for use as fuel, transport to a processing facility, production of petrochemicals or fertilizer, conversion to liquid fuels, separating and collecting over fifty percent of the propane and heavier hydrocarbons; or

e. Equipped with other value-added processes as approved by the industrial commission which reduce the volume or intensity of the flare by more than sixty percent.

3. An electrical generator and its attachment units to produce electricity from gas and a collection system described in subdivision d of subsection 2 must be considered to be personal property for all purposes. 

4. For a well operated in violation of this section, the producer shall pay royalties to royalty owners upon the value of the flared gas and shall also pay gross production tax on the flared gas at the rate imposed under section 57-51-02.2. 

5. The industrial commission may enforce this section and, for each well operator found to be in violation of this section, may determine the value of flared gas for purposes of payment of royalties under this section and its determination is final. 

6. A producer may obtain an exemption from this section from the industrial commission upon application that shows to the satisfaction of the industrial commission that connection of the well to a natural gas gathering line is economically infeasible at the time of the application or in the foreseeable future or that a market for the gas is not available and that equipping the well with an electrical generator to produce electricity from gas or employing a collection system described in subdivision d of subsection 2 (see below) is economically infeasible.

The statute gives the commission the jurisdiction to regulate flaring within one year as it sees fit ("as permitted under the rules of the [NDIC]").  For gas flared after a year, the commission is given jurisdiction to grant exemptions if the operator can show that it is economically infeasible to connect to a gathering system.

For the "within a year portion of the flaring," the commission has field-by-field rules allowing flaring.  Here is an example of the most common field rule regarding flaring:

All wells in the [Field Name]-Bakken Pool shall be allowed to produce at a maximum efficient rate for a period of 60 days commencing on the first day oil is produced through well-head equipment into tanks from the ultimate producing interval after casing has been run; after that, oil production from such wells is not to exceed an average of 200 barrels per day for a period of 60 days, after that, oil production from such wells is not to exceed an average of 150 barrels per day for a period of 60 days, thereafter, oil production from such wells is not to exceed an average of 100 barrels of oil per day; if and when such wells are connected to a gas gathering and processing facility the foregoing restrictions are removed, and the wells are allowed to produce at a maximum efficient rate. The Director is authorized to issue an administrative order allowing unrestricted production at a maximum efficient rate for a period not to exceed 120 days, commencing on the first day oil is produced through well-head equipment into tanks from the ultimate producing interval after casing has been run, if the necessity therefor can be demonstrated to his satisfaction. 

It is written a little bit backwards, but the rule allows the operator to flare all the gas it wants for 60 days (producing oil at a maximum efficient rate), but then - if not connected to gathering - for the next 60 days must restrict the flaring to any gas produced along with oil up to an average of 200 barrels a day, and so on.   

At the end of the one year period, an operator can only flare gas if they have an exemption - granted by the commission pursuant to a different set of rules. That rule is ND ADC 443-02-03-60.2:

43-02-03-60.2. FLARING EXEMPTION. 

The connection of a well to a natural gas gathering line is "economically infeasible" under North Dakota Century Code section 38-08-06.4, if the direct costs of connecting the well to the line and the direct costs of operating the facilities connecting the well to the line during the life of the well, are greater than the amount of money the operator is likely to receive for the gas, less production taxes and royalties, should the well be connected. 

In making this calculation, the applicant may add ten percent to the amount of the cost of connecting the well and of operating the connection facilities used to determine whether a connection is economically infeasible. This ten percent may be added in consideration of the cost of money and other overhead costs that are not figured in the direct costs of connecting the well and operating the connecting facilities. 

An applicant for an exemption under North Dakota Century Code section 38-08-06.4 must, at the minimum, present evidence covering the following areas: 

1. Basis for the gas price used to determine whether it is economically infeasible to connect the well to a natural gas gathering line; 

2. Cost of connecting the well to the line and operating the facilities connecting the well to the line; 

3. Current daily rate of the amount of gas flared; and 

4. The amount of gas reserves and the amount of gas available for sale.

********************************

In relation to the number of wells currently flaring after one year, very few flaring exemptions exist, according to the reader.  

There are two common misconceptions in the media about operations:  1) that operators are paying royalty on gas that is flared outside the one year period, and 2) that operators are choking back wells to comply with the field rules.  The first is untrue and the operators have admitted as much, and the second is mostly untrue as shown just by the monthly production reports.

The writer asserts what I have suspected: the NDIC historically grants "every" single request for under-a-year flaring as well as over-a-year flaring.

New Poll -- Per Reader's Request; The Keystone And Tea Leaves

I suspended the poll because a) it was not adding much to the blog; b) it took a lot of time; and, c) I couldn't come up with timely questions that enough folks might be interested in.

One reader, out of the hundreds of thousands that read the blog (LOL), asked for a poll on whether the president would "approve" the Keystone XL.

I don't like that poll because it is not "timely" in the sense that it could take quite some time before we know the answer.

However, it might be interesting. And it gave me a chance to see if I could remember how to post a poll. So there it is.

The tea leaves suggest that a rational individual has seen enough, read enough, heard enough, spoke enough, that it was "okay" to approve the Keystone XL pipeline.

The last argument "on the table" has been addressed and that argument was answered in favor of the pipeline.

Now that all arguments have been addressed, the answer will be made simply on political grounds.

In politics everything and everyone is unpredictable; President Obama is particularly unpredictable (I would use a different word, but "unpredictable" seems adequate). [That's what I wrote for the original post; The Daily Kos agrees.]

So, the poll.

*****************************************

Predicting political outcomes is very much like astrology. In astrology, one has the stars; in politics, one has tea leaves. 

Will he or won't he ("approve the Keystone")?

Tea leaves:

• state of the union speech suggests he understands the importance of fracking and non-fossil fuels like natural gas (according to the Democratic Party, natural gas is not a fossil fuel)
• the US State Department publishes its study suggesting the Keystone is not an environmental threat
• former Interior Secretary, a Democrat and Obama cabinet member Ken Salazar says the Keystone should be approved

Airline Suspends Flights Into / Out Of Jamestown, North Dakota -- Cites Pilot Shortage

NOTE: due to difficulty accessing the internet earlier, I was late to replying to some of the questions / comments over at the discussion group. Sorry. I am now caught up. And I am going to lunch. See you all later. If the spirit moves me.

Oh, before I go to lunch: one more plug for the eBook for mineral rights owners in North Dakota. I received a very nice note from one individual who has bought the eBook and was delighted with it. The website (it's at the sidebar, also, near the top).

Again, I have no connection with that website, the author, or the book. My only purpose is to help folks understand the Bakken.

***********************************

The Wall Street Journal is reporting:

The problems are evident in recent announcements from two U.S. airlines at opposite ends of the spectrum. Great Lakes Aviation Ltd., a 32-year-old carrier based in Cheyenne, WY, says it suspended flights to six small cities in the Upper Midwest on Saturday "due to the severe industry-wide pilot shortage and its relative acute impact."

The airline is the sole carrier on those routes, which include such towns as Jamestown, ND, and Mason City, IA. It said it hopes to resume flights when it can "rebuild our staff of pilots in order to provide reliable service."

Meanwhile, United Continental Holdings Inc. said Saturday that it plans to cut 60% of its flights from its Cleveland hub by June. Big airlines have been shutting their smallest hubs for financial reasons for years, and United blamed the decision partly on weak demand in Cleveland, which it said hasn't been profitable in more than a decade.

This was reported in the blog yesterday:

The canary at the Cleveland hub: United Continental plans to cut operations this spring at its loss-making Cleveland hub by about 36% based on seats offered, leading to a reduction of 470 jobs.

Congress: Full Time Jobs; Working Hours Will Plummet Due To ObamaCare; Non-Partisan Estimate; This Is Not FOX News Reporting; The Analysis Is Particularly Interesting

I predicted this from the very beginning ... ObamaCare would result in fewer full-time jobs. I was so sure of this I even have a tag at the bottom of the blog: "29_Hour_Work_Week."

Now, the Congressional Budget Office says the same thing -- and it's not a trivial number. CNBC is reporting:

A historically high number of people will be locked out of the workforce by 2021, according to a report by the Congressional Budget Office released Tuesday.

President Barack Obama's signature health-care law will contribute to this phenomenon, the CBO said, citing new estimates that the Affordable Care Act will cause a larger-than-expected reduction in working hours—eliminating the equivalent of about 2.3 million workers in 2021.

In 2011, the CBO estimated the law would cause a reduction of about 800,000 full-time equivalent workers. 

The CBO is nearly tripling the number of jobs lost from earlier estimates. 

The Washington Times is saying the same thing:

Obamacare will push the equivalent of about 2 million workers out of the labor market by 2017 as employees decide either to work fewer hours or drop out altogether, according to the latest estimates Tuesday from the Congressional Budget Office.

That’s a major jump in the nonpartisan budget agency’s projections and it suggests the health care law’s incentives are driving businesses and people to choose government-sponsored benefits rather than work.

And those who are able to keep their jobs will start paying more for their own insurance. The gap between the "haves" and the "have-nots" will simply widen.

The third article has a particularly analysis. Yahoo!Finance reports:

..... a new Congressional Budget Office report says the Affordable Care Act may cost the economy more jobs than previously projected while insuring fewer Americans.

Newly revised CBO projections show that President Obama’s signature health care law may reduce workforce participation by about 2.3 million workers by 2017. That’s compared to the previous estimate of 800,000 fewer workers by 2021.

The CBO suggests the reason for the reduction essentially boil down to employees deciding to work less or opt out of the workforce entirely if they can obtain coverage and subsidies under the new health exchanges.

That CBO analysis is MOST interesting: the CBO says that workers themselves will make the decision to opt out or work less; it is not because employers will be cost shifting or decreasing the number of job openings. If that turns out to be true, that could result in huge changes in monthly "unemployment" numbers.

The Fiscal Times has an in-depth analysis of jobs and ObamaCare as well as numerous additional links: The Great ObamaCare Workforce Exodus. 

Random Update On The MRO Wells Targeting The Tyler, Southwest North Dakota

An astute reader noted this in yesterday's daily activity report.

From daily activity report, 2-3-14:

• 26223, conf/plugged or producing,  MRO, Rundle Trust 11-29TFH, 29-136-99 Slope Co.

Your thoughts on this? I know in the Bakken this usually means producing.
Since this a Tyler horizontal I wonder if it means it's producing? It seems this would be a pretty quick timeframe to plug it, but it would also also be pretty quick to have it fracked.
If this well is a good one, the Tyler could be "the story of the year."

I agree (as for story of the year). But whether it's producing or plugged? I don't know. You are correct; 9 out of 10 "plugged or producing" Bakken wells are producing.

Wow, I could go either way, but it's where the Tyler should be, so I will put a hamburger bet on this one that the well is producing. Good luck. [E-mail from another reader awhile back who seemed to have pretty good sources, suggested that MRO had difficulty drilling the first two wells; it may not be a good ending. Hoping otherwise.]

For newbies, I am tracking these MRO Tyler wells here.

******************

Later, in response to the above, a reader sent in the following comment. He did not say whether he wanted the comment posted or not (which included his name) but just in case, I will post his comments up here (and it will also be googable-searchable:

Based on my experience and following of their first Lodgepole well they take the time to study the formation as is. In other words they waited about a year before they put a frack job on the Darwin well we discussed earlier in the year. They take their name seriously "marathon" and they tend to keep a pace. It would not surprise me if there is oil that they have left it as a flow only proposition to learn about the properties of the reservoir. Anyways that is my two cents on this situation. If there is oil one will suspect an uptick of leasing in that area and we may see it early in the North Dakota land leasing for next quarter. Wish I had a few grand lying around ; ).

Don't we all (wish we had a few grand lying around). Smile. Thank you for taking time to write.

By the way, there were some dry Bakken wells when they first started drilling the Bakken, and a lot of uneconomical Bakken wells until operators "cracked" the code. But even more so, in the other formations, from 1951 when they hit the first productive well in North Dakota, operators had a lot of dry holes. But they learn from all of them. "We" have become spoiled with the Bakken, where there are "no" dry holes. So, we'll see.

Off The Net For Awhile

Wow, what an incredible morning. I rode the bike into Starbucks about 5:45 this morning -- raining, cold Dallas (well, cold for Texas).

Speaking of "cold," Don noted that we never had "obnoxious snow" until global warming came along, but that's what the new, very liberal mayor of NYC is calling this snowfall. I don't know why he just doesn't fine New Yorkers who don't shovel their own walks and driveways, and who don't clear the streets of snow themselves. If everyone did their little bit, it would all be okay.

Now, back on the bike for a six-mile ride up to the public library in South Lake, Texas.

But what a morning of blogging.

Eleven (11) new stand-alone posts (not counting this one).

Updated several older posts.

Reported on the spectacular year that Oasis had. 93% of their wells are connected to natural gas pipelines (compare to KOG).

Corrected the MDU post -- a huge "thank you" to Don for noting my huge error. I didn't follow my own rules on fact checking. This, too, will pass. It wasn't the first huge mistake on the blog; it won't be the last.

So, with that I'm heading out. I see oil is up about a percent, back up to $97. This is the longest sustained period of "high-price" oil. Sweet.

The Burlington Resources Blue Ridge Wells In Keene Oil Field

The Burlington Resources Blue Ridge wells in Keene oil field (middle Bakken or Three Forks targets have not been confirmed for the post):

• 18290, 2,192, BR, Blue Ridge 14-31H, Keene, t8/10; cum 399K 3/20;
• 20621, 3,591, BR, Blue Ridge 14-31TFH, Keene, Three Forks, t5/12; cum 390K 3/20; off-line recently; came back strong in 5/18;
• 25886, 2,886, BR, Blue Ridge 34-31TFH, Keene, t1/14; cum 339K 3/20; off line as of 12/18; remains off line as of 3/19; back on line 4/19; jump in production;
• 25887, 2,834, BR, Blue Ridge 24-31MBH, Keene, t1/14; cum 374K 3/20; subtle production increase, 4/19; came off line 7/19; remains off line 10/19;
  
• 25888, 2,970, BR, Blue Ridge 24-31H, Keene, Three Forks, t1/14; cum 270K 3/20; cum off line 9/19; remains off line 10/19; back on line 1/20; small jump in production;
  
• 25890, 2,887, BR, Blue Ridge 44-31TFH, Keene, Three Forks, t1/14; cum 322K 3/20; remains off line 10/19; no activity in area to explain why these wells are off line; back on line 11/19; nice jump in production;
  
• 25891, 2,805, BR, Blue Ridge 44-31MBH, Keene, t1/14; cum 394K 3/20;
• 25892, 1,728, BR, Blue Ridge 41-30MBH ULW, Keene, t6/14; cum 331K 3/20; only Blue Ridge well coming from the north;
  

Readers opine that "ULW" stands for "unit line well" -- wells placed along section lines or along 1280-acre spacing lines in new 2560-acre overlapping units.

• 28414, 2,204, BR, Shenandoah 44-36MBH ULW, Keene, t3/15; cum 517K 3/20;  to the west; on the section line to the west of the Blue Ridge wells; off line 10/19;

Producing Acres In The Sanish Going For $40,000/Acre -- Almost As Much As An Acre In Iowa For Corn

Link here.

Oasis: Operational Results And Preliminary Financial Results -- 2013; Producing Sanish Acreage Selling For $40,000/Mineral Acre; No Complaining = "Normal Winter"

Press release. Lots of rounding (below). Disclaimer: typed fast; assume errors below; go to linked source.]

For calendar year 2013:

• increased average daily production by 51%; now almost 34,000 boepd
• 106 net wells in 2013; 36 net wells in fourth quarter (2013)
• increased total estimated net proved oil/gas reserves to almost 228 million boe
• increased total estimated net provide oil/gas reserves by almost 60%
• grew leasehold by 54% to 515,314 net acres
• 422,386 net acres held by production
• acquired 161,000 net acres in four separate transactions, totaling $1.554 billion
• increased drilling location inventory by almost 80%
• drilling location inventory: 3,590 (up from 2,020 one year ago)
• well costs: $7.5 million (from $8.5 million a year earlier)
• ended year with total liquidity of $1.25 billion

Plans for 2014:

• to sell some non-operated Sanish property; undisclosed buyer; $333 million; 8,354 acres ($333 million/8,354 producing acres = $40,000/acre
• increase daily production to 50,000 boepd (excluding Sanish production)
• CAPEX: $1.425 billion; 90% for drilling/completion [$1,282 million/$7.5 million = 171 wells]
• to complete 148 net wells [$1,282 million / 148 wells = $8.7 million/well]
• will drill almost all wells on 3+ well-pads; 50% of wells will target the Three Forks

4Q13:

• "normal winter"
• increased volume almost 30% q/q
• 93% of wells connected to natural gas infrastructure [compare with KOG]

High Initial Production Numbers -- Page 4

Page 6

Page 5

Page 3

Page 2

Page 1

27267, 2,525, BR, CCU Red River 34-9MBH, Corral Creek, t6/14; cum 68K 3/15;

26063, 2,538, MRO, Swift Eagle USA 31-15TFH, Moccasin Creek, t6/14; cum 81K 3/15;

26466, 2,156, Whiting, Taylor 34-7-2H, Sioux, t1/14; cum 95K 3/15;
26945, 1,978, XTO, Lucy 14X-32A, Siverston, t5/14; ccum 98K 3/15;
27269, 2,324, BR, CCU Red River 24-9MBH, Corral Creek, t6/14; cum 62K 3/15;
 
26807, 2,704, MRO, Earl Pennington USA 44-33H, Reunion Bay, producing, a huge well, 24,743 bbls, the first month, t5/14; cum 342K 7/17;

25989, 2,338, HRC, Fort Berthold 148-94-20C-21-4H, Eagle Nest, t6/14; cum 90K 3/15;

25089, 2,941, Statoil, Edna 11-2 3H, Camp, t6/14; cum 66K 3/15;
26023, 2,213, Whiting,  Mork Farm 24-8-2H, Pleasant Hill, t6/14; cum 89K 3/15;
26024, 2,532, Whiting, Mork Farm 24-8H, Pleasant Hill, t6/14; cum 69K 3/15;
27050, 2,176, Whiting, Mork Trust 21-17-6H, Pleasant Hill, t6/14; cum 82K 3/15;

24372, 2,995, Statoil, Broderson 30-31 2H, Banks, t6/14; cum 66K 3/15;
26118, 2,023, HRC, Grev 157-100-30B-31-2H, Marmon, t5/14; cum 212K 7/17;
24183, 1,949, Statoil, Folvag 5-8 4TFH, Stony Creek, t5/14; cum 46K 3/15;

25644, 3,008, Statoil, Bill 14-23 6H, Alexander, t5/14; cum 83K 3/15;
25645, 1,578, Statoil, Bill 14-23 4TFH, Alexander, t5/14; cum 28K 3/15;
25979, 2,412, XTO, Inga Federal 41X-29D, t5/14; cum --

23091, 2,984, Statoil, Jarold 25-36 3TFH, Todd, t5/14; cum 87K 3/15;

25207, 2,219, HRC, Fort Berthold 148-95-27B-34-4H, Eagle Nest, t5/14; cum 103K 3/15;

25335, 2,616, XTO, Martin Federal 21X-33B, Cedar Coulee, 30 stages; 3.5 million lbs, t5/14; cum 320K 7/17;

23092, 3,106, Statoil, Jarold 25-36 4H, Todd, t5/14; cum 118K 3/15;
25091, 2,902, Statoil, Bill 14-23 3H, Alexander, t5/14; cum 87K 3/15;

25536, 2,042, KOG, P Thomas 154-98-14-33-4H3, Truax, t5/14; cum 111K 7/17;
25537, 2,200, KOG, P Thomas 154-98-14-33-4HA, Truax, t5/14; cum 97K 3/15;
26322, 3,317, Fort Berthold 48-95-27B-34-8H, Eagle Nest, t4/14; cum 162K 3/15;

26806, 2,574, MRO, Tollefson 41-4H, Reunion Bay, t5/14; cum 266K 7/17;

25847, 2,701, Oasis, Ceynar 5200 11-28B, Murphy Creek, t12/13; cum 66K 4/14;

24270, 2,452, HRC, Fort Berthold 147-94-3B-10-5H, t4/14; cum 6K 4/14; 

25801, 2,404, HRC, Fort Berthold 147-94-3B-10-7H, McGregory Buttes, t4/14; cum 4K 4/14;
26660, 2,240, MRO, JWC 44-34H, Reunion Bay, 4 sections, t5/14; no production data,

25354, 1,179, Whiting, Mork Trsut 21-17-5H, Pleasant Hill, t12/13; cum 39K 4/14;
25355, 2,061, Whiting, Mork Trust 21-17-4H, Pleasant Hill, t11/13; cum 36K 4/14:
25356, 2,065, Whiting, Mork Trust 21-17-3H, Pleasant Hill, t11/13; cum 49K 4/14;
25357, 2,069, Whiting, Mork Trust 21-17-2H, Pleasant Hill, t11/13; cum 49K 4/14:
24927, 1,760, Oasis, Wayne Zumhof Federal 5300 44-15T, Willow Creek 1st Bench Three Forks, 36 stages, 3.8 million lbs sand/ceramic, t1/14; cum 32K 4/14;
25221, 2,074, Oasis, Aspen Federal 5300 24-15B, Willow Creek, middle Bakken, 36 stages, 3.7 million labs sand/ceramic, t2/14; cum 54K 4/14; 
25393, 2,614, Oasis, Augusta 5200 11-28B,  Camp, t1/14; cum 53K 3/14;
25577, 3,134, Oasis, Ida 5200 21-28B, Camp, t1/14; cum 63K 4/14;
25689, 1,992, Oasis, Crawford 5493 44-7T, Robinson Lake, t12/13; cum 35K 4/14;
25725, 1,468, Oasis, Jase 5892 21-30T, Enget Lake, t2/14; cum 25K 4/14;
25726, 1,450, Oasis, Mahaila 5892 21-30H, Enget Lake, t2/14; cum 32K 4/14;
26057, 1,593, Oasis, Montague 5602 42-34 5B, Cow Creek, t2/14; cum 17K 4/14;
26124, 1,041, Oasis, Lefty 5200 14-30 2T, Camp, t4/14; cum 13K 4/14;
26178, 1,391, Oasis, Satsuma 5693 44-35B, Alger, t4/14; cum 11K 4/14;

24271, 2,376, HRC, Fort Berthold 147-94-3B-10-4H, McGregory Buttes, t4/14; cum 6K 4/14;
24272, 2,588, HRC, Fort Berthold 147-94-3B-10-3H, McGregory Buttes, t4/14; cum 5K 4/14;
25828, 2,880, BR, Rising Sun 21-1MBH-5NH, Clear Creek,  4 sections, t5/14; cum --
26323, 3,138, HRC, Fort Berthold 148-95-22C-15-9H, Eagle, t4/14; cum 2K 4/14;
26680, 2,664, BR, CCU Burner 41-26MBH, Corral Creek, t4/14; cum 7K 4/14;
 
25333, 2,791, XTO, Martin Federal 21X-33A, Cedar Coulees, t4/14; cum 9K 4/14;
25535, 2,083, KOG, P Thomas 154-98-14-33-4H, Truax, t51/14; cum 83K 3/15;
20258, 2,399, KOG, Skunk Creek 3-24-25-13H, Mandaree, t4/14; cum 16K 4/14;
25757, 989, EOG, Wayzetta 35-1920H, Parshall, t1/14; cum 113K 4/14;
25785, 1,682, EOG, Wayzetta 36-1920H, Parshall, t1/14; cum 126K 4/14;
25860, 2,716, QEP, Zorro 4-35-26BH, Grail, t1/14; cum 65K 4/14;
25861, 2,655, QEP, Zorro 3-35-26BH, Grail, t1/14; cum 63K 4/14;
26060, 2,323, QEP, Zorro 27-34-26-35LL, Grail, t1/14; cum 47K 4/14;

25208, 2,149, HRC, Fort Berthold 148-95-22C-15-4H, Eagle Nest, t4/14; cum 129K 3/15;
25682, 2,040, BR, Rising Sun 31-1TFH-7NH, Clear Creek, 4 sections, t5/14; cum 105K 3/15;
25829, 2,088, BR, Sunline 21-1MBH-5SH, Clear Creek, 4 sections, t5/14; cum 99K 3/15;
26046, 2,485, BR, Capitol 14-7MBH, Westberg, t5/14; cum 115K 3/15;
26047, 1,683, BR, Capitol 24-7TFH, Westberg, t5/14; cum 90K 3/15;
26375, 1,960, Whiting/KOG, P Vandeberg 154-99-1-1-12-16, Stockyard Creek, t5/14; cum 109K 3/15;
26376, 1,267, Whiting/KOG, P Vandeberg 154-99-1-1-12-16H3, Stockyard Creek, t5/14; cum 35K 3/15;
26377, 2,198, Whiting/KOG, P Vandeberg 154-99-1-1-12-15H, Stockyard Creek, t4/14; cum 111K 3/15;
26378, 2,086, Whiting/KOG, Vandeberg 154-99-1-1-12-15H3, Stockyard Creek, t4/14; cum 75K 3/15;

27656, 1,248, Whiting, Littlefield 11-30H, Sanish, t5/14; cum 98K 3/15;
24988, 3,306, Statoil, Domaskin 30-31 7TFH, Alger, t5/14; cum 93K 3/15;
24986, 3,087, Statoil, Domaskin 30-31 5TFH, Alger
24987, 2,912, Statoil, Domaskin 30-31 6H, Alger,

18518, 2,710, KOG, Two Shields Butte 3-24-12-4H, Mandaree, t4/14; cum --  
20257, 2,475, KOG, Two Shields Butte 3-24-12-3H3, Mandaree, t4/14; cum --
20259, 1,579, KOG, Skunk Creek 3-24-25-14H3, Mandaree, t4/14; cum --
27122, 2,372, KOG, P Scanlan 153-98-16S-9-11-16H, Truax, t4/14; cum --

25930, 1,430, Whiting, Schilke 34-32-2H, Pleasant Hill, t11/13; cum 30K 31/4;
25982, 2,513, Whiting, Norgard 41-14-2H, Ellsworth, t11/13; cum 42K 3/14;
18987, 223, KOG, Two Shields Butte 14-21-16-2HS, t4/11; cum 594K 7/17; when the well was fracked two years after it was initially drilled, it had an IP of 2,061 

25210, 2,789, HRC, Fort Berthold 148-95-22C-15-5H, Eagle Nest, t4/14; cum --
26048, 1,884, BR, Capitol 24-7MBH, Westberg, t4/14; cum --
26358, 2,148, XTO, Rink 13X-4E, Garden, t4/14; cum --
26359, 2,390, XTO, Rink 13X-4A, Garden, t4/14; cum --
26360, 1,867, XTO, Rink 13X-4F, Garden, t4/14; cum --
26361, 1,725, XTO, Rink 13X-4B, Garden, t5/14; cum --

26439, 2,084, BR, CCU Four Aces 14-21TFH, Corral Creek, t4/14; cum --
26727, 2,403, MRO, Herb 14-35H, Killdeer, 4 sections, t4/14; cum -- 
26235, 2,270, QEP, Moberg 3-18BH, Grail, a huge well, t11/13; cum 91K 3/14;
26342, 2,706, HRC, Miller 157-101-12D-1-2H, Otter, t2/14; cum 17K 3/14;
26438, 2,405, BR, CCU William 44-20MBH, Corral Creek, t4/14; cum -- 

26234, 2,524, QEP, Moberg 2-18TH, Grail, one section, t11/13; cum 68K 3/14;

24984, 2,154, Statoil, Jack Cvancara 19-18 6H, Alger, t4/14; cum --

26437, 2,124, BR, CCU Corral Creek 11-28TFH, Corral Creek, t4/14; cum --

26017, 2,727, MRO, Zimmerman 21-26TFH, Killdeer, t4/14; cum --

25040, 2,981, QEP, Lawlar 3-5-8TH, Grail, t4/14; cum --

26039, 3,002, Whiting, Johnson 31-4-2H, Pleasant Hill, t11/3; cum 64K 3/14;

22577, 3,129, Statoil, Gudnerson 15-22 4TFH, Banks, t4/14; cum --
24983, 2,238, Statoil, Jack Cvancara 19-18 5TFH, Alger, t4/14; cum --
25417, 3,001, XTO, Rolfsrud State 14X-36F, Sand Creek, t3/14; cum --,
25836, 2,595, XTO, Duke 34X-31B, Siverston, t3/14; cum --
26214, 2,122, Petro-Hunt, USA 153-95-22C-15-3H, Charlson, t1/14; cum 34K 2/14;
25639, 2,362, Oasis, Feathertop 5493 43-23B, Robinson Lake, t11/13; cum 35K 2/14;

25525, 2.510, HRC, Fort Berthold 152-94-11b-14-6H, a Sanish well, Antelope, t3/14; cum --
25524, 2,584, HRC, Fort Berthold 152-94-11B-14-5H, a Sanish well, Antelope, t3/14; cum --

25821, 2,164, BR, CCU Columbian 14-36TFH, Corral Creek, t3/14; cum -- 

25526, 2,000, HRC, Fort Berthold 152-94-11B-14-7H, Antelope, a Sanish well, t3/14; cum --
26170, 2,520, BR, Crater Lake 41-14MBH, Hawkeye, t4/14; cum --
25602, 2,203, KOG, P Scanlan 153-98-16-9-5-5H, Truax, 4 secs, t3/14; cum --
25600, 2,665, KOG, P Scanlan 153-98-16-9-5-12H, Truax, 4 secs, t3/14; cum --
26031, 1,841, KOG, P Earl Rennerfeldt 154-99-1-3-10-15H3, Stockyard Creek, t3/14; cum --
26032, 1,781, KOG, P Earl Rennerfeldt 154-99-1-3-27-2H3, Epping, t3/14; cum --
26030, 2,008, KOG, P Earl Rennerfeldt 154-99-1-3-27-1H, Epping, t3/14; cum -- 

26462, 2,224, MRO, Myers 24-35H, Reunion Bay, t3/14; cum --
18120, 2,966, BR, CCU Mainstreeter 14-24TFH, Corral Creek, t2/14; cum 5K 2/14;

26029, 2,492, KOG, P Earl Rennerfeldt 154-99-1-3-10-16H, Stockyard Creek, t3/14; cum -- 

25789, 2,495, Whiting, Lucky Lady 44-35H, Timber Creek, t10/13; cum 44K 2/14;
25790, 2,013, Whiting, Evelyn Moen 4-34H, Arnegard, t10/13; cum 43K 2/14;
25791, 2,172, Whiting, Roy Moen 44-34-2H, Arnegard, t10/13; cum 50K 2/14;
24254, 1,800, HRC, Fort Berthold 152-93-7D-6-3H, Four Bears, t3/14; cum -- 
24253, 1,719, HRC, Fort Berthold 152-93-7D-6-4H, Four Bears, t3/14; cum -
25415, 1,509, XTO, Rolfsrud State 14X-36A, Sand Creek, t3/14; cum --
25261, 2,274, XTO, Bully Federal 44X-20F, Bear Den, t3/14; cum --
25259, 3,112, XTO, Bully Federal 44X-20E, Bear Den, t3/14; cum --
25262, 2,682, XTO, Bully Federal 44X-20B, Bear Den, t3/14; cum --
25260, 2,432, XTO, Bully Federal 44X-20A, Bear Den, t3/14; cum --
26167, 2,044, BR, Crater Lake 21-14MBH, Hawkeye, t3/14; cum --
26168, 2,520, BR, Crater Lake 31-14MBH, Hawkeye, t3/14; cum --
26169, 2,616, BR, Crater lake 41-14TFH, Hawkeye, t3/14; cum -- 

26419, 2,904, BR, Archer 14-25TFH, Charlson, t2/14; cum 9K 2/14;

24256, 2,546, HRC, Fort Berthold 152-93-7D-6-1H, Four Bears, t2/14; cum --
25835, 2,595, XTO, Duke 34X-31F, Siverston, t3/14; cum --
23593, 2,805, Statoil, M. Macklin 15-22 4H, Cow Creek, t2/14; cum 7K 2/14;
23595, 2,871, Statoil, M. Macklin 15-22 5H, Cow Creek, t2/14; cum 5K 2/14;

26288, 2,046, MRO, Ell 21-1H, Murphy Creek, no production data,

25804, 1,837, KOG, Koala Wold 153-97-1-5-29-1H3, Banks, t3/14; cum --
25803, 1,573, KOG, Koala Wold 153-97-1-5-8-15H3, Banks, t3/14; cum --
25802, 1,944, KOG, Koala Wold 153-97-1-5-9-15H, Banks, 4 secs, t3/14; cum --
25805, 2,054, KOG, Koala Wold 153-97-1-5-29-2H, Banks, t3/14; cum --
24707, 1,811, Oasis, Paul S 5300 13-13T, Willow Creek, t10/13; cum 47K 2/14;
24919, drl, Slawson, Jeriyote 7-5-32TFH, Big Bend, no production data,
25308, 646, Oasis, Norris 5892 21-30B, Cottonwood, t10/13; cum 18K 2/14;
25578, 2,247, Oasis, Jade 5200 21-28T, Camp, 24K first month; t1/14; cum 41K 2/14;
21708, 2,808, BR, Franklin 44-36MBH, Little Knife, t2/14; cum 6K 1/14;
25731, 2,291, Whiting, Edie 41-13HR, Timber Creek, t10/13; 61K cum l/14;

25908, 2,976, BR, CCU Columbian 43-1MBH, Corral Creek, unitized, t3/14; cum --
25907, 2,712, BR, CCU Columbian 43-1TFH, Corral Creek, unitized, t3/14; cum --
25838, 2,413, XTO, Duke 34X-31A, Siverston, t3/14; cum --
25909, 2,880, BR, CCU Columbian 33-1TFH, Corral Creek, t3/14; cum -- 

26007, 2,592, BR, Archer 24-25TFH, Charlson, t2/13; cum --

26006, 2,928, BR, Archer 24-25MBH, Charlson, t2/14; cum -- ICO

26016, 2,084, MRO, Schaefer 34-23TFH, Chimney Butte, t2/14; cum -- 

25976, 1,976, KOG, P Vance 154-97-4-17-2-14H, t2/14; cum -- 

24540, 2,271, Whiting, Levi Federal 21-33H, Sanish, t 2/14; cum --
25499, 707, HRC, Moline 157-100-20D-17-2H, Marmon, t2/14; cum --
25430, 2,204, XTO, FBIR Youngbear 31X-9A, Heart Butte, t2/14; cum --
26211, 1,188, HRC, Moline 157-100-20D-17-3H, Marmon, t2/14; cum --
25431, 1,785, XTO, FBIR Youngbear 31X-9E, Heart Butte, t2/14; cum --
25429, 1,410, XTO, FBIR Youngbear 31X-9F, Heart Butte, t3/14; cum --

25253, 1,908, EOG, Parshall 35-0509H, Parshall, Bakken, 1,920 acres; 59 stages; 18 million lbs; t10/13; cum 108K 1/14; 
25605, 1,686, EOG, Fertile 52-3332H, Parshall, Bakken, 31 stages, 9.5 million lbs; 1,280 acres; t10/13; cum 71K 1/14;
25507, 2,926, BR, CCU Powell 31-29MBH, Corral Creek, unitized, t2/14; cum --
25509, 2,886, BR, CCU William 34-20MBH, Corral Creek, unitized, t214; cum --
25510, 2,766, BR, CCU William 44-20TFH, Corral Creek, unitized, t2/14; cum --

24412, 3,823, Statoil, Garmann 19-18 3H, Banks, t2/14; cum --

24706, 2.062, Oasis, Kristie 5300 13-13B, Willow Creek, t10/13; cum 65K 1/14;

25103, 1,721, EOG, Liberty 26-1319H, Parshall, t10/13; cum 93K 1/14;
25118, 1,807, EOG, Van Hook 32-1202H, Parshall, t11/13; cum 68K 1/14;
25119, 1,222, EOG, Van Hook 31-1202H, Parshall, t11/13; cum 78K 1/14;
25238, 2,262, EOG, Fertile 50-0509H, Parshall, t9/13; cum 125K 1/14;
25452, 1,171, Whiting, Obrigewitch 41-29PH, Bell, t9/13; cum 56K 1/14;
25453, 2,027, Whiting, Obrigewitch 21-29PH, Bell, t9/13; cum 64K 1/14;
25454, 1,614, Whiting, Obrigewitch 11-29PH, Bell, at9/13; cum 57K 1/13;

24413, 2,513, Statoil, Broderson 30-31 4TFH, Banks, t2/14, no production data,

21529, 2,015, Newfield, Pittsburgh Federal 153-96-3-2H, Sand Creek, t11/13; cum 37K 12/13;
21530, 2,058, Newfield, Pittsburgh Federal 153-96-3-3H, Sand Creek, t11/13; cum 26K 12/13;

20916, 2,361, HRC, Fort Berthold 151-94-34C-27-2H, Antelope, t1/14; cum 9K 12/13;
24414, 2,856, Statoil, Garmann 19-18 4TFH, Banks, t2/13;  cum --
25422, 2,757, XTO, Alice 44X-34D, Siverston, t2/14; cum --
25423, 2,798, XTO, Alice 44X-34H, Siverston, t2/14; cum --
24146, 2,911, Oasis, Power Federal 5300 14-15B, Willow Creek, t1/14; cum --
25545, 2,482, MRO, Rudolph USA 41-15TFH, Reunion Bay, t1/14; cum --
25550, 4,051, XTO, Marlene 42X-20D, Blue Buttes, t1/14; cum --

25948, 2,088, Petrogulf, Sanstrom 151-94-1H, Antelope, a Sanish well,  t12/13; cum 21K 12/13;

25951, 2,688, BR, Capitol 44-7MBH, Westberg, t12/13; cum 14K 12/13;

25783, 2,485, BR, CCU William 14-20MBH, Corral Creek, t2/14; cum -- 

25336, 2,129, EOG, Wayzetta 137-2226H, Parshall, t9/13; cum 658K 7/17;

25961, 2,880, BR, Archer 44-25MBH, Charlson, t2/13; cum 401K 7/17; ICO

25549, 3,264, XTO, Marlene 42X-20G, Blue Buttes, t2/14; cum 401K 7/17; 

20643, 1,816, EOG, Van Hook 104-1218H, Parshall, t11/13; cum 51K 12/13;
25056, 1,815, EOG, Van Hook 33-1218H, Parshall, t11/13; cum 54K 12/13;
25402, 1,908, Whiting, Fajewski 14-12H, Lonesome, t8/13; cum 45K 12/13;
24904, 2,002, KOG, Smokey 3-17-20-14HA, Pembroke, t1/14; cum -- 
26026, 2,049, Newfield, Moberg Federal 149-95-29-32-4H, Bear Den, t11/13; cum 21K 12/13;

25960, 2,312, BR, Archer 44-25TFH, Charlson, t1/14; cum --,
25678, 2,976, BR, Washburn 41-36TFH, Charlson, t1/14; cum --
24634, 2,533, Statoil, Blanche 27-22 7H, Painted Woods, t1/14; cum --
23746, 2,145, Statoil, Mark 4-9-2TFH, Williston, t1/14; cum --
25551, 4,434, XTO, Marlene 42X-20H, Blue Buttes, t2/14; cum --

25891, 2,805, BR, Blue Ridge 44-31MBH, Keene,  t1/14; cum --
25962, 2,592, BR, Archer 34-25TFH, Charlson, t2/14; cum --
25679, 2,800, BR, Washburn 41-36MBH, Charlson, t1/14; cum --
25680, 2,544, BR, Washburn 42-36TFH, Charlson, t1/14; cum --
25665, 2,952, BR, Washburn 44-36TFH, Charlson, t12/13; cum --

25890, 2,887, BR, Blue Ridge 44-31TFH, Keene, t1/14, cum 257K 7/17;

24547, 2,607, Statoil, Greenstein 30-31 4H, Camp, t1/14; t1/14; cum -- 

25887, 2,834, BR, Blue Ridge 24-31MBH, Keene, no production data, but Blue Ridge wells are good wells; t1/14; cum -- 

25177, 2,044, KOG, P Wood 154-98-4-26-35-13H, t12/13; cum 4K 12/13;

25886, 2,886, BR, Blue Ridge 34-31TFH, Keene, t1/14; cum --  
25888, 2,970, BR, Blue Ridge 24-31TFH, Keene, t1/14; cum --
26086, 2,169, MRO, Chuck Quale USA 21-29H, Reunion Bay, t12/13; 20K 12/13;

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For Investors Only

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or anything you think you may have read here.

Fifteen companies announced increased distributions or dividends, including Black Hills Corp, Broadcom, and Mattel. 

About As Close As President Obama Will Get To The Bakken -- Visits A GE Factory In Wisconson

A reader alerted me to this interesting story:

Roughly 1,500 oil wells in western North Dakota burn off natural gas, a byproduct rendered worthless because pipelines to gather the gas have yet to be built. Some of that gas could power engines produced by General Electric Co. in Waukesha.

"Everywhere there is flaring, you should be sticking a Waukesha engine," said Brian White, GE's senior executive at the plant in Waukesha that makes the engines.

"To me, it doesn't make sense."

GE is among the companies working to put that wasted energy to use. Almost all the initiatives, ranging from powering drilling rigs to micro liquefied natural gas plants, include the use of gas-powered engines. But that is just one part of the potential markets created by the surge in natural gas production in recent years.

When pipelines eventually are built to the oil wells in western North Dakota and other new fields throughout the world, GE's Waukesha gas engines can compress and move that natural gas.

The GE factory that makes gas engines sold under the name of their hometown was the setting last week for a visit by President Barack Obama to promote job training. The choice of the venue for the president's visit was not surprising.

Well, actually it was ... surprising. 

It took 'em long enough. 

And speaking of gas ...

Classical Gas, Mason Williams
By the way, before the end of this administration, Algore will have a PowerPoint presentation on how he discovered the Bakken; Obama will take credit for developing the Bakken; and Immelt will make billions capturing natural gas in the Bakken. It took 'em long enough. Thank goodness for red state governors. A reader opines had it not been for red state governors, the country would be drowning in red ink from dicers and slicers.

A Brave New World -- Nothing About The Bakken -- Except For The Active Rig Count

Active rigs:

	2/4/2014	02/04/2013	02/04/2012	02/04/2011	02/04/2010
Active Rigs	189	184	202	165	90

The Wall Street Journal

Clinical laboratories must give patients access to their own lab-test results upon request, without going through the physician who ordered them, according to a new federal rule announced Monday. All I can say is: "about time."

Detroit is seeking to invalidate several Wall Street deals that allowed it to fund pension plans, arguing the deals were illegal and shouldn't be repaid.

Tax refunds add urgency on debt ceiling. Treasury Secretary Jacob Lew pressed Congress to deal soon with the debt ceiling, arguing that the Obama administration has much less flexibility to avoid a crisis than in previous standoffs.

I'm shocked! I'm shocked? Police discover variety of drugs at actor's home.

Heroin use, and deaths, rise. I have no dog in this fight. Perhaps the liberalization of pot laws in Colorado and Washington are the answer.

************************************

Apple quietly building new networks: the company is boosting internet infrastructure, laying the groundwork for more traffic amid broader ambitions. 

Apple is stitching together a network of Internet infrastructure capable of delivering large amounts of content to customers, giving the company more control over the distribution of its online offerings while laying the groundwork for more traffic if it decides to move deeper into television.

Apple's online delivery needs have grown in the last few years, driven by its iCloud service for storing users' data and rising sales of music, videos and games from iTunes and the App Store.

But the iPhone maker is reported to have broader ambitions for television that could involve expanding its Apple TV product or building its own television set. Snapping up Internet infrastructure supports all those pursuits at once. Apple is signing long-term deals to lock up bandwidth and hiring more networking experts, steps that companies like Google Inc. and Facebook Inc. have already taken to gain more control over the vast content they distribute.

Bill Norton, chief strategy officer for International Internet Exchange, which helps companies line up internet traffic agreements, estimates that Apple has in a short time bought enough bandwidth from Web carriers to move hundreds of gigabits of data each second.

A brave new world.

************************************

I noted this yesterday: January auto sales chilled by winter weather.

The New York Times

I guess this might put fracking into perspective for smug New Yorkers: Hoffman's heroin points to surge in grim trade. 

Detectives found dozens of small packages in the West Village apartment where Philip Seymour Hoffman, the actor, died on Sunday. Most were branded, some with purple letters spelling out Ace of Spades, others bearing the mark of an ace of hearts. At least five were empty, and in the trash.

Each of the packages, which can sell for as little as $6 on the street, offered a grim window into Mr. Hoffman’s personal struggle with a resurgent addiction that ultimately, the police said, proved fatal. And the names and logos reflect a fevered underground marketing effort in a city that is awash in cheap heroin. 

The NYT reporters were hesitant to be more specific: "dozens" may or may not sound like a lot of packages. But 70 packages is incredible, and that's what other sources are reporting.

But why would this be a surprise? The President of the United States, after all, has said that drugs like marijuana are no more dangerous than beer. What a great country. 

But before anyone gets their knickers in a knot, go back and watch a few episodes of Miami Vice which aired in 1985. The US heroin problem probably can be traced back to the Vietnam War, if not even farther back.

**************************************

First We Take Manhattan, Jennifer Warnes

Fear and Loathing in Las Vegas, Somewhere Around Barstow

Miami Vice, Crockett's Theme

ObamaCare Website Software Development Subcontracted Out To Belarus?

Certainly this story has to be entirely fabricated. The story, as published, is a bit convoluted, strange. It's hard to know what might be factual, what might be flat out fictional, flat out lies. Certainly this can't be true at any level.

The first thing I did: google "Belarus Obamacare" and the first hit was a Washington Times story posted one hour ago. It is simply a reprint of the The Washington Free Beacon story.

But this is what The Washington Free Beacon is reporting:

“The U.S. Affordable Care Act software was written in part in Belarus by software developers under state control, and that makes the software a potential target for cyber attacks,” one official said.

“[Belarus] programmers wrote the program that appears on the monitors in all hospitals and all insurance companies—they will see the full profile of the given patient,” Tsepkalo said June 25 on Voice of Russia Radio.

But HHS is not worried but the department will do a thorough review anyway.

“Nation states are generally not interested in [personal identification information] for its own sake,” the official said. “Given that, we would be surprised to see a nation-state capability applied in this matter. But we are doing a thorough review anyway.”

I can't make this stuff up.

• the Russians wrote some of the software for ObamaCare website
• possibility exists that malware inserted
• for sure, Belarus has code for the website if they wrote any of the software
• "nation states are generally not interested in personal identification information" -- say what?

My hunch: this story has no legs. This story will be swept away faster than a dead cockroach in Texas. Not to worry. I'm waiting for the next bombshell: that Iranian software developers are writing code for our nuclear missile defense system.

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My Sweet Lord, George Harrison

CORRECTED POST: MDU Earnings For Calendar Year 2013

FOR CALENDAR YEAR 2013

From the press release.

For the year, 2013: $1.53/share compared to $1.16 in 2012.

Consolidated GAAP earnings, 2013: $1.47/share; versus a loss of one (1) cent/share in 2012. 

4Q13: 48 cents (I believe analysts forecast 41 cents). Compares to to 40 cents 4Q12.

From the press release:

Adjusted earnings grew 32 percent for the year to the highest level since 2008 and shareholders experienced a total annual return of 48 percent in 2013, so this has been a very successful year, said David L. Goodin, president and CEO of MDU Resources.

All of our businesses are operating exceptionally well. Our focus on substantial capital investment to grow our businesses is having an impact and with the added investments planned for this year, we expect to continue the momentum. We also successfully executed on more than $100 million in sales of non-strategic assets in 2013 and plan to maintain our focus on the efficient use of capital.

The companys (sic) exploration and production business achieved its growth target for oil production with a 30 percent increase, despite bitterly cold December temperatures that impacted operations across North Dakotas oil fields.

Over the past two years, Fidelity Exploration & Production Companys (sic) oil production has increased 77 percent. Nearly 60 percent of Fidelitys (sic) 4.8 million net barrels in 2013 came from the Bakken. Production also grew 221 percent in the prolific Paradox basin in Utah, where two back-to-back high-producing wells have highlighted the potential of this developing play.

A major portion of Fidelitys (sic) $440 million 2014 drilling program will again be targeted at further development in the Bakken and Paradox areas. Two rigs are working in each of the plays. In addition, Fidelity recently acquired an additional 35,000 acres in the Paradox basin, bringing the acreage total there to approximately 130,000 net acres of leaseholds. The new acreage is on trend with our current Paradox acreage position and the geology is similar. The company continues to have an option to earn an additional 20,000 acres in the play.

The company is initiating adjusted earnings guidance for 2014 in the range of $1.45 to $1.60 per share.

Additional Crude Oil Gathering System In North Dakota?

From the press release:

Enable Midstream Partners, LP announced today that Enable Bakken Crude Services, LLC, an indirect, wholly-owned subsidiary of Enable Midstream has commenced a binding open season to gauge market interest in producers making long-term commitments for a new crude oil gathering and transportation pipeline system in the Bakken Shale play in North Dakota.

The system will gather crude oil from points located in North Dakota's Montrail (sic) and Williams Counties, and transport it to interconnections with downstream pipelines. The open season provides potential shippers with the opportunity to make long-term acreage dedications for crude oil gathering and transportation service over the system.

Note: this is simply a "local" crude oil pipeline. This would get a lot of trucks off the road. 

The company probably needs to learn how to spell "Mountrail" County.

Throwing People Under The Train -- Literally; Phoenix Rising; XOM Acquires Acreage In The Permian, Ohio Utica

Updates

February 8, 2014: more on the XOM/XTO story in the Permian. MRT.com is reporting:

Exxon Mobil Corporation has reached an agreement to enhance its Permian Basin portfolio managed by its XTO Energy subsidiary.

Through an agreement with Endeavor Energy Resources LP, XTO will fund development to gain substantial operating equity in about 34,000 gross acres in the prolific liquids-rich Wolfcamp formation in Midland and Upton counties. Endeavor will continue to operate shallow production while XTO will drill and operate horizontal wells in the deeper intervals. 

The agreement increases XTO’s holdings in the Permian Basin to just more than 1.5 million net acres, enhancing the company’s significant presence in one of the major U.S. growth areas for onshore oil production. 

“The Wolfcamp shale is a vast, tight oil resource with tremendous potential,” said Randy Cleveland, president of XTO Energy. “The presence of multiple, stacked pay zones creates the potential for capital-efficient horizontal development, and the proximity to XTO’s ongoing Wolfcamp operations will offer operating cost efficiencies.”

Original Post

RBN Energy: Marcellus natural gas heading to Florida, Part 2

The idea of using natural gas produced in Pennsylvania to generate power in South Florida would have been considered implausible or even unthinkable just a few years ago. But now it seems likely that by mid-2017 Marcellus-sourced gas will, in fact, be moving deep into the Southeast. Williams’ planned Atlantic Sunrise project will make its Transco mainline bi-directional as far south as Station 85 in southwestern Alabama. From there, Spectra Energy and NextEra Energy’s Sabal Trail pipeline will move Marcellus and other gas into central Florida, and NextEra’s Florida Southeast Connection line will take gas still further south. Today In the second of a two part series, we conclude our analysis of the transformational Atlantic Sunrise project.

John Kerry: without Keystone, six (6) railroad deaths per year.

Replacing the Keystone XL pipeline with oil-laden freight trains from Canada may result in an average of six additional rail-related deaths per year, according to a U.S. State Department report that is adding to pressure for President Barack Obama to approve the line.

The long-awaited study, released on Friday, focused on the environmental impact of TransCanada's $5.4 billion pipeline, but also spent several pages analyzing the potential human impact of various ways to transport oil, using historical injury and fatality statistics for railways and oil pipelines.

Although it excluded the runaway oil train derailment that killed 47 people in Lac Megantic, Quebec, last summer, the tragedy that first shone a critical light on the rapidly expanding trend in shipping crude by rail, the findings highlight the risks or railway transport versus pipes. Shipping another 830,000 barrels per day (bpd) of crude "would result in an estimated 49 additional injuries and six additional fatalities for the No Action rail scenarios compared to one additional injury and no fatalities" per year if Keystone XL is built, according to the report.

The president has thrown a lot more folks than "six per year" under the train during the past five years. I doubt this report will influence him one way or the other.

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Phoenix rising! Ex-Chesapeake CEO -- Aubrey McClendon -- doubles his acreage in the Ohio Utica.

Former Chesapeake Energy Corp CEO Aubrey McClendon's American Energy Partners said on Monday that it had struck three deals in Ohio's Utica shale region, doubling its holdings there.

The company said it would buy about 130,000 acres in the southern part of the Utica shale from Hess Corp, Exxon Mobil Corp and privately held Paloma Partners. It said the three deals would bring its total acreage in the region to about 260,000 acres.

American Energy did not disclose how much it is paying for the acreage, but Hess said previously that it sold its 74,000 acres in the Utica for $924 million.

$924 million / 74,000 acres = $12,500/acre  -- and that's for natural gas

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XOM acquires acreage in the Permian and Ohio. 

Exxon Mobil Corporation announced Monday enhancements to its U.S. oil and natural gas portfolio managed by subsidiary, XTO Energy Inc., through separate agreements in the Permian Basin in Texas and Utica shale in Ohio.

XTO: 34,000 gross acres in liquids-rich Wolfcamp in Midland and Upton counties.
XTO: 30,000 net acres in Ohio -- recently initiated development in the Utica

 

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Summertime Sadness, Lana Del Ray