Sunday, May 4, 2014

Traveling; Minimal Blogging; Goodnight, Moon

I am on the road again. I will be traveling through the night.

When I travel by car I have no access to wi-fi until I stop at a) McDonald's or b) Starbucks. I won't start finding Starbucks until Tuesday, and no McDonald's until late Monday afternoon.

I may have a short stop at a truck stop early tomorrow (Monday) morning but it will be a short stop and not much time for much blogging.

When I am off the net it also affects replies to e-mail, moderating comments to the blog, and comments sent to the Discussion Group. I take e-mail and comments very seriously so it always bothers me when I can't reply "immediately."

I generally answer every e-mail.

When "push comes to shove" and I have to prioritize what I post, the most important thing to get posted is the summary of the daily activity report from the NDIC, and the list of wells that will be coming off the confidential list the next day.

Hopefully I will be caught up by the end of the week. I assume every post has typographical errors; I correct them when I find them or someone alerts me to them. Don't bother alerting me to simple typographical errors that don't affect the substance of the post. 

For newbies: when I have plenty of time to post, I generally post 5 - 10 stand-alone posts every day, and I generally update many more previous posts. Be sure to scroll down to read the new stand-alone posts.

I take the Bakken very seriously. Everything else is for entertainment only. This is not an investment site but I learned soon after starting the blog that following the money helps me understand the Bakken. If you send me something to post and want credit for it, let me know. I generally post "stuff" sent to me anonymously, using common first names only, if I use names at all. I assume anything sent to me can be posted, so if you don't want it posted be sure to tell me. Having said that, I am very, very cautious about maintaining anonymity for anyone sending me anything.

I have no hidden agendas. I don't engage in private discussions or offer opinions outside the blog (there have been exceptions, and there will continue to be exceptions, but they are rare).  I own no mineral rights and am not directly benefiting financially from the blog. I do invest in equities and the blog has helped me with managing my portfolio. A very small portion of my portfolio (less than 2%?) is invested in the Bakken. My carbon footprint is significantly maller than Algore's. My apartment is, if I recall correctly, 761 square feet. No garage. But during hail season, I rent a carport.

Good luck to all. Goodnight, moon.


Goodnight, Moon, Shivaree

A Request From A Reader

A reader sent this over at the discussion group:
I am trying to find some type of map that outlines each of the specific oil fields in the Bakken. Poster size would be nice and I am willing to purchase it. Does anyone know of such a thing?
I do realize that the field boundaries change regularly so the map would only be relatively accurate.
Last month I purchased (for only $10 with shipping) a fantastic 24"x36" wall map showing well sites with IP ranges current as of summer 2013. It really helps put things in perspective. I highly recommend it to anyone who is trying to get a look at the overall picture of the Bakken. 
If anyone has any suggestions, ....

For Investors Only: EOG, OAS, And OXY Report Monday; Update On BNSF 2014 CAPEX; Fracking Is Here To Stay

Companies reporting earnings Monday:
  • APC ($1.16): after market close-- actual: despite litigation loss, beats by 10 cents; shares up 2%
  • EOG ($1.21): after market close; actual -- beats by 21 cents; stock up nicely;
  • EOX (0): after market close; actual beats, by 3 cents;
  • OAS (63 cents): after market close
  • OXY ($1.70): before market opens; actual - beats by 5 cents -- $1.75
  • OTTR (53 cents): after market close; actual -- beats by 4 cents; 
  • ROSE (84 cents): after market close; misses by 7 cents;
Other News From Over The Weekend

BNSF: On March 8, 2014, I posted the following:
Specifics of BNSF investment in North Dakota in 2014:
  • double track the line from Minot to Glasgow, MT ($162 million)
  • add sidings between Fargo and Grand Forks ($26 million)
  • add sidings between Bismarck and Glendive, MT ($14 million)
  • add sidings along Devils Lake ($13 million)
  • add sidings and an interchange track through the Port of Pembina ($13 million)
  • invest in Centralized Traffic Control along the Jamestown, ND, subdivision ($11 million)
  • add sidings along the KO subdivision, between Fargo and Minot ($8 million)
Now, additional information for those interested in Montana. Daily Interlake is reporting:
BNSF plans to hire more than 450 employees in Montana this year; about 200 of those additional workers already have been hired year-to-date. 
Montana projects include:
  •  Extending track lengths at train yards in Glendive and Forsyth
  •  Constructing a siding between Marsh and Terry
  •  Extending train sidings at Beaver Hill, Blatchford, Hodges, Hysham and Rosebud
  •  Upgrading to Centralized Traffic Control and extending a train siding at Terry
  •  Surfacing and undercutting more than 900 miles of track
  •  Replacing about 60 miles of rail
  •  Replacing more than 145,000 ties

Not to worry. Forbes is reporting: 
Despite official predictions that the U.S. energy boom will pop like a bubble in the next 20 years, people engaged in drilling for oil and gas—from the financiers to the frackers—see no end to boom times or low gas prices, industry insiders said in Chicago Friday.
Wow, that's good news. Twenty (20) years. What's to worry? In twenty years we should all be underwater due to the rising oceans due to global warming. This should all work out just about perfectly. Give or take a year, it looks like "party hearty."

Some Huge Wells Coming Off Confidential List Monday In The Bakken -- May 5, 2014

Monday, May 5, 2014:
  • 25864, 1,425, Newfield, Holm 150-98-5-8-3H, Siverston, t3/14; cum 18K 3/14;
  • 26028, 1,142, EOG, Wayzetta 41-2117H, Parshall, t12/13; cum 159K 3/14;
  • 26205, 1,514, Petro-Hunt, Sherven Trust 153-95-27B-3H, Charlson, t2/14; cum 36K 3/14;
  • 26345, drl, Statoil, Cvancara 20-17 6TFH, Alger, no production data,
  • 26592, drl, SM Energy, Paul 3-4HS, Alexandria, a nice well,
Sunday, May 4, 2014:
  • 25647, 110, EOG, Wayzetta 31-3230H, Parshall, t10/13; cum 219K 3/14;
  • 26039, 3,002, Whiting, Johnson 31-4-2H, Pleasant Hill, t11/3; cum 64K 3/14;
  • 26116, 1,785, HRC, Grev 157-100-30B-31-3H, Marmon, t3/14; cum 10K 3/14;
  • 26119, 901, HRC, Pasternak Trust 157-100-19C-18-2H, Marmon, t3/14; cum 6K 3/14;
  • 26444, drl, CLR, Vachal 5-27H1, Alkali Creek, no production data,
Saturday, May 3, 2013:
  • 25023, drl, Sinclair, Martens 4-4TFH, Sanish, no production data,
  • 25295, drl, Hess, EN-Weyrauch 154-93-1918H-7, Robinson Lake, no production data,
  • 26752, 337, SM Energy, Marvin 14-34HS, Alexandria, t2/14; cum 6K 3/14;

26028, see above, EOG, Wayzetta 41-2117H, Parshall,

DateOil RunsMCF Sold

25647, see above, EOG, Wayzetta 31-3230H, Parshall:

DateOil RunsMCF Sold

26205, see above, Petro-Hunt, Sherven Trust 153-95-27B-3H, Charlson:

DateOil RunsMCF Sold

26039, see above, Whiting, Johnson 31-4-2H, Pleasant Hill:

DateOil RunsMCF Sold

Wanna Guess? [The Answer Is In The Comments]

DateOil RunsMCF Sold

Give up? Here's another one, next to the one above:

DateOil RunsMCF Sold

Taxable Sales, North Dakota, 2013; Williston Again Leads The State; Growth Leveling Off

I haven't seen a complete report of taxable sales for 2013 in the regional media. I guess this is why: not particularly exciting. The Bismarck Tribune is reporting:
Taxable sales and purchases in the fourth quarter of 2013 did not rise over 2012 levels.
North Dakota taxable sales and purchases were $6.755 billion during October, November and December 2013. That’s a decrease of $281 million or .04 percent, compared with the same time period in 2012.
Taxable sales compared to 2012
  • Bismarck: up 2.6 percent
  • Burleigh County: up 0.39 percent
  • Mandan: up about 10 percent
  • Morton County: up 8 percent
The same was true in the oil patch; things are leveling off (slowing down?). The Williston Herald is reporting:

Williston led the state in taxable sales and purchases in 2013, bringing in more than $3.3 billion.
The city was down 3.62 percent from last year’s $3.5 billion mark.
Taxable sales by city
  • Williston: $3.3 billion (Williams County: $4.4 billion; down 5.9% from 2012)
  • Fargo: $2.6 billion
  • Bismarck: $1.8 billion
  • Minot: $1.5 billion
  • Grand Forks: $1.1 billion
  • Alexander reported growth of 67%
North Dakota: taxable sales grew 0.5% over 2012; $25.464 billion.

Major cities reported growth in 4Q13: Williston, Grand Forks, Minot, Bismarck, and Fargo.

Watford City, surprisingly, was not mentioned in either the Bismarck or the Williston papers.