Nineteen (19) New Permits -- North Dakota; CLR Reports Five Producing Wells Completed -- Unremarkable Results; August 1, 2014

Updates

August 2, 2014: a reader (see comments below) suggests the "second formation" targeted could be the Madison formation. This could be very, very interesting. 

Original Post

Among the new permits today (see below), note the MRO permit:

• 29028, conf, MRO, Glenn Powell 21-3TH,  wildcat, Slope

This well will target the Tyler formation; it will be sited about four (4) miles directly north of another MRO Tyler well:

• 26335, drl, MRO, Powell 31-27TH

The "TH" designation: Tyler Horizontal
A Three Forks would be designated "TFH."

Another thing: note "Unknown MXL" (in red bold below) in the MRO Tyler well in the scout ticket posted below at the NDIC web site:

NDIC File No: 26335    
Well Type: OG     Well Status: DRL     Status Date: 12/25/2013    
Location: NWNE 27-135-99     Latitude: 46.481811     Longitude: -103.100451
Current Operator: MARATHON OIL COMPANY
Current Well Name: POWELL 31-27TH
Field: WILDCAT
Spud Date(s):  12/25/2013
Completion Data
   Pool: TYLER     Status: DRL     Date: 12/25/2013
Cumulative Production Data
   Pool: UnknownXML     Cum Oil: 0     Cum MCF Gas: 180     Cum Water: 83
   Pool: TYLER     Cum Oil: 0     Cum MCF Gas: 30     Cum Water: 183

Monthly Production Data

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
UnknownXML	6-2014	30	0	0	83	180	0	0
TYLER	5-2014	5	0	0	183	30	0

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

Active rigs:

	8/1/2014	08/01/2013	08/01/2012	08/01/2011	08/01/2010
Active Rigs	194	178	207	183	143

Nineteen (19) new permits --

• Operators: CLR (6), MRO (3), Emerald (2), Whiting (2), Enduro (2), Slawson, Triangle, MBI, Samson Resources
• Fields: Crazy Man Creek (Williams), Dollar Joe (Williams), Wolf Bay (Dunn), Boxcar Butte (McKenzie), Sanish (Mountrail), Glenburn (Renville), Newburg (Bottineau), Stockyard Creek (Williams), Blooming Prairie (Divide), 
• Comments: MBI has a permit fora well in Dunn County;

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

Five (5) producing wells completed:

• 26691, 545, CLR, Marlene 4-3H1, Stoneview, t7/14; cum 6K 6/14;
• 26692, 682, CLR, Marlene 3-3H, Stoneview, t6/14; cum 9K 6/14;
• 26693, 712, CLR, Marlene 2-3H1, Stoneview, t6/14; cum 8K 6/14;
• 27034, 623, CLR, McCoy 7-18H, Northwest McGregor, 4 sections, t7/14; cum --
• 27033, 988, CLR, McCoy 6-18H1, Northwest McGregor, 4 sections, t7/14; cum --

Whiting canceled one well in Golden Valley County:

• 26240, PNC, Whiting, Glower 41-18, a Deadwood well,

August NDIC Hearing Docket Agenda, August 27-28, 2014

These monthly transcribed summaries are done quickly; not triple-checked for accuracy. I assume there are typographical errors and some factual errors. In some cases I miscount the number of drilling units being discussed in a particular case. Go to the source to check the details.

I track past docket agendas here. 

Highlights of the agenda can be found here. This is what jumped out at me:

• the number of "risk penalty legalese" cases
• almost no new cases requesting waivers for flaring (just two?)
• no formations other than the Bakken targeted in August agenda? if any, very, very few
• the huge number of "continued" cases with huge implications
• one case: 32 new wells in 1920-acre spacing -- works out to 60-acre downspacing (note, one continued case has 56 wells on 2560-acre spacing: 46-acre downspacing)
• a slight increase in number of "waivers" requested for well sitings/lateral locations

Wednesday, August 27, 2014

22768, Cornerstone, Lignite-Bakken, proper spacing, Burke County
22769, MRO, Bailey-Bakken, establish four overlapping 2560-acre units; 1 well each, Dunn
22770, MRO, Reunion Bay-Bakken, siting, Mountrail
22771, MRO, Reunion Bay-Bakken, siting, Mountrail
22298, cont'd
22772, OXY USA, Fayette and Cabernet-Bakken; establish an overlapping 2560-acre unit; 2 wells; Dunn
22773, OXY USA, Fayette-Bakken, establish an overlapping 2560-acre unit; 2 wells; Dunn
22774, OXY USA, Fayette-Bakken, establish two overlappign 2560-acre units; 2 wells each, Dunn
22775, OXY USA, Fayette and Manning-Bakken, establish an overlapping 2560-acre unit, 2 wells, Dunn
22776, OXY USA, Fayette and Manning-Bakken; 14 wells on a 1280-acre unit; establish an overlapping 2560-acre unit, 2 wells; Dunn
22777, OXY USA, Russian Creek and Manning-Bakken, establish an overlapping 2560-acre unit 2 wells, Dunn
22778, OXY USA, Manning-Bakken, establish three overlapping 2560-acre units; 2 wells each; Dunn
22779, OXY USA, Willmen and Manning-Bakken, 14 wells on four 1280-acre units; establish two overlapping 2560-acre units, 2 wells each, Dunn
27780, OXY USA, Willmen-Bakken, establish four overlapping 2560-acre units; 2 wells each; DUnn
22781, Oasis, Enget Lake and Sorkness-Bakken, establish two overlapping 2560-acre units; 1+ wells each; Mountrail
27782, Oasis, Cottonwood-Bakken, establish four overlapping 2560-acre units; 1+ wells each, Mountrail
22783, Oasis, Camp-Bakken, establish an overlapping 2560-acre unit; 1+ wells; McKenzie;
22784, Oasis, Cottonwood and Alger-Bakken; establish two overlapping 2560-acre units; 1+ wells on each or alternatively, 18 wells on the existing 1280-acre unit; establish two 1280-acre units; 1+ wells on each; Mountrail
22785, Oasis, Alger-Bakken, establish an overlapping 2560-acre unit; 1+ wells; or alternatively establish a 1280-acre unit, 18 wells on that unit; Mountrail
22282, cont'd
22284, cont'd
22786, Whiting, Sanish-Bakken, establish 15 overlapping 2560-acre units, 1 well each; establish 7 overlapping 1280-acre units, 1 well each; Williams, McKenzie
22787, Whiting, Glass Bluff-Bakken, establish an overlapping 2560-acre units; 1 well, McKenzie
22598, cont'd
22788, BTA, Beaver Creek and Cooks Peak-Bakken, establish a 1280-acre unit; 4 wells, Golden Valey
22789, Ballard Petroleum, temporary spacing for Fines, #27319, Bottineau
22790, BR, Haystack Butte-Bakken, establish an overlapping 2560-acre unit, 2 wells, McKenzie
22791, BR, Hawkeye-Bakken and Antelope-Sanish, establish an overlapping 2560-are unit, 1 well, McKenzie
22792, BR, Sand Creek-Bakken, 9 wells on a 1280-acre unit; establish an overlapping 2560-acre unit, 1 well, McKenzie
22793, BR, Dimmick Lake, Camel Butte, Edge, and Clear Creek-Bakken; establish five overlappign 2560-acre units; 1 well each, McKenzie
22794, BR, amend order 18849, Corral Creek-Bakken, establish a 1280-acre unit, 11 wells on said unit; Dunn
22597, cont'd
19399, cont'd
14935, cont'd, Hess, revoking a CLR permit
22795, Hess, Antelope-Sanish, establish two 1280-acre units; 12 wells one of the units, and 10 wells on the other unit; establish an overlapping 2560-acre unit, 3 wells; McKenzie
22796, Hess, Truax-Bakken, siting, Williams
22797, Hess, Alkali Creek-Bakken, establish an overlapping 2560-acre unit; 1 well; McKenzie, Mountrail
22798, Hess, Manitou-Bakken, establish a 1280-acre unit, 1 well; establish an overlapping 2560-acre unit, 2 wells, Mountrail
22799, Hess, Alkali Creek-Bakken, establish an overlapping 2560-acre unit, 1 well, Mountrail,
22800, Hess, Blue Buttes-Bakken, 11 wells on a 1280-acre unit; 12 wells on another 1280-acre unit; establish an overlapping 2560-acre unit, 1 well, McKenzie
22801, Hess, Beaver Lodge-Devonian and Bakken; and the Capa-Bakken, establish an overlapping 1280-acre unit; Williams
22608, cont'd
22802, CLR, revoke a Hunt Oil permit, Divide
22803, CLR, revoke a Crescent Point Energy permit, Williams
22683, cont'd
22804, Citadel, waste treatment plant
22617, cont'd
22615, cont'd
22616, cont'd
22805, MRO, pooling
22806, MRO, pooling
22807, MRO, pooling
22808, MRO, pooling
22809, Murex, Alexandria-Bakken, 8 wells on a 1280-acre unit, Divide
22810, Murex, Musta-Bakken, 8 wells on a 1280-acre unit, Divide
22811, Hess, commingling
22812, Hess, commingling
22813, Hess, commingling
22814, Hess, commingling
22815, Hess, commingling
22816, Hess, commingling
22817, Hess, commingling
22818, Hess, commingling
22819, Hess, commingling
22820, Hess, Robinson Lake-Bakken, 11 wells on an overlapping 2560-acre unit; 13 wells on each of two overlapping 1280-acre units; Mountrail
22821, Hess, pooling, 
22822, Hess, pooling
22823, Hess, pooling
22824, Hess, pooling
22825, Hess, pooling
22826, Hess, pooling
22827, Hess, pooling
22828, Hess, pooling
22829, Petro-Hunt, pooling
22830, Oasis, Camp-Bakken, 3 wells on an overlapping 2560-acre unit; McKenzie
22831, BTA, Beaver Creek-Bakken, 4 wells on a 1280-acre unit; Billings
22832, BTA, Bicentennial-Bakken, 4 wells on each of two 1280-acre units; Golden Valley
22833, BTA, Elkhorn Ranch-Bakken, 4 wells on a 1280-acre unit, Billings
22834, BR, Clear Creek and Camel Butte-Bakken, 9 wells on a 1280-acre unit, McKenzie
22835, BR, Hawkey-Bakken, 10 wells on a 1280-acre unit, McKenzie
22836, BR, Elidah-Bakken 8 wells on each of two 1280-acre units; McKenzie
22631, cont'd
22632, cont'd
22633, cont'd
22634, cont'd
22635, cont'd
22373, cont'd, Emerald Oil, risk penalty legalese,
22374, cont'd, Emerald Oil, risk penalty legalese,
22375, cont'd, Emerald Oil, risk penalty legalese,
22376, cont'd, Emerald Oil, risk penalty legalese,
22377, cont'd, Emerald Oil, risk penalty legalese,
22378, cont'd, Emerald Oil, risk penalty legalese,
22379, cont'd, Emerald Oil, risk penalty legalese,
22380, cont'd, Emerald Oil, risk penalty legalese,
22381, cont'd, Emerald Oil, risk penalty legalese,
22382, cont'd, Emerald Oil, risk penalty legalese,
22383, cont'd, Emerald Oil, risk penalty legalese,
22384, cont'd, Emerald Oil, risk penalty legalese,
22385, cont'd, Emerald Oil, risk penalty legalese,
22386, cont'd, Emerald Oil, risk penalty legalese,
22387, cont'd, Emerald Oil, risk penalty legalese,
22388, cont'd, Emerald Oil, risk penalty legalese,
22389, cont'd, Emerald Oil, risk penalty legalese,
22391, cont'd, Emerald Oil, risk penalty legalese,

Thursday, August 28, 2014

22837, Oasis, Crazy Man Creek-Bakken, proper spacing, McKenzie, Williams
22838, XTO, #27195, Emil well, temporary spacing, Williams
22839, XTO, North Fork, Bear Den, Croff and/or Grail-Bakken, establish five overlapping 2560-acre units; 1 well in/near section lines; McKenzie
22645, cont'd
22840, HRC, Eagle Nest-Bakken, establish an overlapping 2560-acre unit, 1 well near the section line; Dunn
22646, cont'd
21997, cont'd
22647, cont'd
22841, CLR, Cabernet-Bakken, 28 wells each of two existing 1280-acre units; Dunn
22842, CLR, Murphy Creek-Bakken, 28 wells on an existing 1280-acre unit; Dunn
22843, CLR, Little Knife-Bakken, 28 wells on each of 8 1280-acre units; 6 wells on/near the section line of each; Dunn, McKenzie; 230 wells
22844, CLR, Dollar Joe-Bakken, establish an overlapping 5120-acre unit; 2 wells near section line; Williams
22845, CLR, Baukol Noonan-Bakken, establish a 1920-acre unit; 7 wells; Divide
22846, CLR, Kimberly-Bakken; terminate an existing 1920-acre unit; create an overlapping 1920-acre unit; 7 wells, Divide
22847, CLR, Baukol Noonan-Bakken and/or Noonan-Bakken, establish three 1920-acre units; 7 wells each, Divide
22848, CLR, Bully-Bakken, alter stratigraphic limits, McKenzie
22849, CLR, Bully-Bakken, 28 wells on each of three 1280-acre units; 6 wells near the section lines; McKenzie
22648, cont'd
22649, cont'd
22650, cont'd
22651, cont'd
22652, cont'd
22653, cont'd
22654, cont'd
22655, cont'd
22658, cont'd
22661, cont'd
20926, cont'd
20927, cont'd
20928, cont'd
21755, cont'd
22366, cont'd
22552, cont'd
22553, cont'd
22197, cont'd
22214, cont'd
22218, cont'd
22850, EOG, commission wants to review the relief granted to re-work a well EOG planned for water injection, Mountrail
22851, EOG, Parshall-Bakken, establish two overlapping 1920-acre units; multiple wells; Mountrail
22852, EOG, Antelope-Sanish, establish a 320-acre unit; 1 well, McKenzie
22853, EOG, Clarks Creek-Bakken, multiple wells on a 1920-acre unit; McKenzie
22679, cont'd
22854, Slawson, Four Bears, Big Bend, Reunion Bay, and/or Van Hook-Bakken, establish a 1280-acre unit, an overlapping 1920-acre unit, an overlapping 2560-acre unit, and an overlapping 3200-arcre unit, 1 well on each, McKenzie, McLean, Mountrail
22855, Slawson, Big Bend-Bakken, siting, McKenzie, Mountrail
22856, Newfield, Estes-Bakken, or alternatively, to establish Bakken spacing in Yellowstone Field; establish a 1280-acre unit; a well near the section line; McKenzie
22663, cont'd
22858, Liberty Resources, Stoneview-Bakken, establish a 1280-acre unit; 13 wells; Burke
222859, Wapiti Operating LLC, Enget Lake-Bakken, establish a 1280-acre unit; 2 wells; and, 2 wells on an existing 1280-acre unit
22860, Enduro, Hay Draw-Birdbear; Hay Draw-Red River, and Hay Draw-Stonewall, authorize recompletion of #12607; McKenzie
22861, Hunt, Parshall-Bakken, establish a 1280-acre unit 3 wells; Mountrail
22639, cont'd
22640, cont'd
22862, SHD, Heart Butte and/or Deep Water Creek Bay-Bakken, establish an overlapping 1920-acre unit; establish an overlapping 2080-acre unit; 32 wells on each unit; Dunn, McLean
22863, Statoil, double wall open tank containment
22864, Statoil, double wall open tank containment
15279, reconsideration, flaring authorization
22637, cont'd
22675, cont'd
20658, cont'd
22356, cont'd
22532, cont'd
22865, Horizon-Cartwright LLC, treating plant, McKenzie
22093, cont'd
22866, Newfield, pooling
22867, Newfield, pooling
22868, Newfield, pooling
22869, Newfield, pooling
22870, Newfield, pooling
22871, Newfield, pooling
22872, Newfield, pooling
22873, Newfield, Estes-Bakken, 4 wells on each of 2 1280-acre units; McKenzie
22737, cont'd
22874, CLR, pooling
22875, CLR, pooling
22876, CLR, pooling
22877, CLR, pooling
22878, CLR, pooling
22879, CLR, pooling
22880, CLR, pooling
22881, CLR, pooling
22882, CLR, pooling
22883, CLR, pooling
22884, CLR, pooling
22885, CLR, pooling
22886, CLR, pooling
22887, CLR, pooling
22888, CLR, Stoneview-Bakken, 10 wells on an existing 2560-acre unit; Divide
22889, CLR, Banks-Bakken, 6 wells on an existing 2560-acre unit; McKenzie
22890, CLR, risk penalty legalese
22891, CLR, risk penalty legalese
22588, cont'd
22589, cont'd
21375, cont'd
22892, Liberty Resources, pooling
22893, XTO, risk penalty legalese
22894, XTO, risk penalty legalese
22895, XTO, risk penalty legalese
22896, XTO, risk penalty legalese
22897, XTO, commingling
22898, XTO, commingling
22899, XTO, McGregor-Bakken, 10 wells on an existing 1280-acre unit, Williams
22900, XTO, Bear Den-Bakken, 12 wells on each of six 1280-acre units; McKenzie
22901, Slawson, pooling
22902, Slawson, pooling
22903, Slawson, pooling
22904, Slawson, pooling
22905, Wapiti Operating LLC, pooling
22906, Wapiti Operating LLC, pooling
22907, Statoil, pooling
22908, Statoil, pooling
22909, Statoil, pooling
22910, Statoil, pooling
22911, Statoil, pooling
22912, Legacy Oil, pooling
22913, Legacy Oil, pooling
22914, Legacy Oil, pooling
22915, Legacy Oil, pooling
22916, Legacy Oil, pooling
22917, Legacy Oil, pooling
22918, Legacy Oil, pooling
22919, Legacy Oil, pooling
22920, Legacy Oil, pooling
22921, Legacy Oil, pooling
22922, Legacy Oil, pooling
22923, Legacy Oil, pooling
22924, Legacy Oil, pooling
22925, Legacy Oil, pooling
22926, Legacy Oil, pooling
22927, Legacy Oil, pooling
22928, Legacy Oil, pooling
22929, Legacy Oil, pooling
22930, Legacy Oil, pooling
22931, Legacy Oil, pooling
22932, Legacy Oil, pooling
22933, Enduro, commingling
22934, Hunt, pooling
22935, Hunt, pooling
22936, Hunt, flaring
22937, Hunt, flaring
22938, Hunt, Sather Lake-Bakken, 7 wells on each of four existing 1280-acre units; McKenzie
22939, Hunt, Antelope Creek-Bakken 7 wells on each of three existing 1280-acre units, McKenzie
22940, Hunt, Clear Water-Bakken, 7 wells on each of three existing 1280-acre units, Mountrail
22941, Hunt, Bully-Bakken, 7 wells on an existing 1280-acre unit, McKenzie
22942, Hunt, Bear Butte-Bakken, 7 wells on each of four existing 1280-acre units; McKenzie
22943, Hunt, Little Tank-Bakken, 7 wells on each of three existing 1280-acre units; McKenzie
22944, Hunt, Boxcar Butte-Bakken 7 wells on an existing 1280-acre unit, McKenzie
22945, Hunt, Ross-Bakken, 7 wells on one 640-acre unit; 3 wells on an existing 960-acre unit; 7 wells on each of six 1280-acre units, Mountrail
22946, Hunt, Parshall-Bakken, 7 wells on each of 8 1280-acre units; 5 wells on each of 6 1280-acre units
22947, Samson Resources, commingling
22948, Sinclair, Kittleson-Bakken, 6 wells on an existing 640-acre unit, Mountrail
22741, cont'd
22742, cont'd
22745, cont'd
22746, cont'd
22747, cont'd
22748, cont'd
22949, CLR, SWD

Friday, First Day Of August, 2014 -- Now, Into The Summer Doldrums; $5 Gasoline? Ford SUV Explorer July Sales Surge 32%; 250-Day Supply For Cadillac ELR

Active rigs:

	8/1/2014	08/01/2013	08/01/2012	08/01/2011	08/01/2010
Active Rigs	193	178	207	183	143

RBN Energy: the road to New England -- update on New England preparing for this winter.

Early morning trading: as a rule I don't check the market, or report on the market, during significant declines (like the one we had yesterday) unless I plan to buy something. I did take advantage of the decline yesterday and bought back into a Bakken operator that I had sold a while back. I have not checked on what it is doing today; it was such a nice opportunity yesterday, I don't plan to sell these shares for a long, long time, so it doesn't matter what it does today. I won't be reporting on the market today, or even checking in on it, except perhaps at the end of the day to see how it did. I do have a lot of thoughts -- all positive -- about market action yesterday but my opinion and $1.75 will get you a cup of coffee at Starbucks. COP and ENB do report earnings today, for those interested. If I remember, I will check on them next week when the dust settles (hopefully) and post that data at the earnings page for archival purposes.

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

Briefly: The transload facility, the first part of the Three Affililated Tribes' Thunder Butte Petroleum Services Inc. refinery project west of Makoti, will be finished this fall, said Tex Hall, tribal chairman; reported by The Minot Daily News.

Several new posts overnight: wells coming off confidential list today have been posted; August NDIC hearing dockets agenda and highlights has been posted

The UN "condemns" Israel for not sharing" its Iron Dome anti-ballistic missile protection system with the terrorist organization, Hamas. This should not be surprising. The UN is helping Hamas store rockets in UN schools, hospitals, and refugee "safe" sites. When the rockets are discovered at these sites by the Israeli military, they are turned into Palestinian/UN officials, who then return these rockets to their owners: Hamas. I can't make this up.

Car sales: I think I read somewhere earlier in July that it was the expectation that July, 2014, would set all kinds new records for automobile sales. Ford reports:

• July sales for Ford increased 10 percent; best July performance in eight (8) years
• Ford Fusion posted a record July sales month, up 17 percent
• huge: Ford Explorer sales increased 32 percent
• Ford Escape posted best July with a 19 percent sales increase
• Ford F-series again topped 60,000-vehicle mark; up 5 percent
• Lincoln sales increased 14% 

Car sales, Chevy Volt: For the Volt, the 2,020 units sold represents a 13 percent increase from July of 2013 even though year-to-date sales are down 8.7 percent this year compared to last year. Overall, total Chevrolet deliveries for July 2014 were up eight percent compared to 2013, so the Volt was a bright spot for the Bowtie brand last month. Unfortunately, the Volt is one of two plug-in cars on the market today that are still showing year-over-year declines. 

Car sales, Cadillac ELR:

In total 188 ELRs were sold – almost double their previous high set last month when 97 copies where sold.

Year to date totals have now hit 578 units! [At 578 units over seven months, these cars should be custom-built by master craftsmen.]

This month result also brings some sanity to the “days inventory” number that had been well north of 500 for the past few months.  While 250 days worth of ELRs on hand is still not all that great, it is far closer to norm.

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

A Note for the Granddaughters 

We had a great day yesterday. A friend recommended The Nethercutt Collection and that's where we spent the day. 

We lived fourteen years overseas and have seen most of the US. For the "WOW" factor, I'm not sure anything can beat The Netercutt Collection.

I will go again; I assume I will go at least once every year, maybe even twice a year. It is simply true pleasure. I had not heard of it until it was recommended, and even long-time residents of Los Angeles have not heard of it.

Nethercutt and his wife died in 2004, after 71 years of marriage. They were high school sweethearts; they died within a couple months of each other. I think he was 91 years old. Don't quote me on that.

In his "coming of age" years he moved out to California to live with his aunt, Merle Nethercutt Norman; the two of them developed the Merle Normal cosmetics company. Early in life he and his wife decided, for whatever reason, to restore an old car. From there it took off.

At one time, I thought the drive out to the valley would have been a long drive, but once one gets to the turn-off to the Getty Museum (which we visit frequently), it's clear sailing on the "405" and just 15 more miles. The Nethercutt is right off the freeway; easy access. Free parking and the museum and the guided tour is free. In fact, everything is free; no museum store. One can buy a hardcover coffee table book of the museum at the front desk for $35. No tax. It's a non-profit. The cars are the draw, but there is much, much more there.

One needs reservations for the guided tour: a simple e-mail gets you a reservation. The group is relatively small; the group seems unwieldly at first but once you get inside the "cavernous" showroom, there is more than enough room to spread out. Photographs are encouraged; but no flash in some areas, and no video at all, anywhere.

Unlike most such collections, everything in this collection was owned by the Nethercutts and is now owned by the foundation. Nothing is on loan. In addition, and this is most surprising: everything works. Every car is taken out at least once a year to be driven. Cars are taken to car shows every year where they compete and win. Also, most recently, 2013:

A 1968 Ford GT40 owned by the Rocky Mountain Auto Collection of Bozeman, Mont., was named Best in Show Concours de Sport, while a 1936 Duesenberg SJN, owned by The Nethercutt Collection of Sylmar, CA, took the Best in Show Concours de Elegance.

Nethercutt took first place with the first car he ever restored:

In 1956, J.B. purchased two cars: a 1936 Duesenberg Convertible Roadster for $5,000 and a 1930 DuPont Town Car for $500, both needing total refurbishing. The DuPont restoration, which J.B. estimated would take a few weeks, instead took 18 months and over $65,000. By 1958, his meticulously rebuilt project claimed its first prize — the coveted “Best of Show” award at the prestigious Pebble Beach Concours d’Elegance. By the summer of 1992, his cars had won the Pebble Beach Concours d’Elegance six times, more than any other individual. The Duesenberg and the DuPont are still part of The Nethercutt Collection.

The Duesenberg? An American car. A Duesenberg won the very first Indianapolis 500, average speed, I believe was 60 mph. Again, don't quote me on that. Information overload yesterday but I got the book.

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

Farmer's Market

The Nethercutt Collection closes at 4:30 p.m. and heading back into west Los Angeles would have put us right into rush hour traffic, so we got off the "405" at Getty Drive, and took surface streets (Sepulveda and Wilshire) to Farmer's Market.  The drive down Wilshire is a tough grind at rush hour, but I had great company and it's always fun to see what's going on in that area of town. The huge water main that broke a day or two before occurred several blocks to the north, so I don't think traffic on Wilshire was affected. I was impressed how courteous/smart LA drivers are in that area, particularly not blocking intersections. Folks were able to make left turns at non-regulated intersections due to courteous driving by others.

Farmers Market was much less busy on a Thursday compared to our visit on a weekend a couple of weeks ago. Yes, we had dinner again at the Brazilian churrascaria. Not much new at Barnes and Noble. Apple not so busy.  Traffic at 8:30 p.m. fairly heavy getting out of the downtown area but once we were on La Cienega it moved nicely. Just as you get to that area, we noted the streets are named after the first few US presidents: Washington, Adams, Jefferson, Cienega.

Cienega's first name was "La" I guess, perhaps short for Larry.

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

$5.00 Gasoline

And, yes, the price of the least expensive grade of gasoline in downtown Los Angeles, west side, is well over $5.00/gallon but still under $5.49. 

Without question, $5.00-gasoline is a huge drag on the economy. 

Highights And Comments From The August NDIC Hearing Docket Agenda -- Posted July 31, 2014

These are the highlights only. This is what jumped out at me:

• the number of "risk penalty legalese" cases
• almost no new cases requesting waivers for flaring (just two?)
• no formations other than the Bakken targeted in August agenda? if any, very, very few
• the huge number of "continued" cases with huge implications
• one case: 32 new wells in 1920-acre spacing -- works out to 60-acre downspacing (note, one continued case has 56 wells on 2560-acre spacing: 46-acre downspacing)
• a slight increase in number of "waivers" requested for well sitings/lateral locations

The full agenda can be found here.

Wednesday, August 27, 2014

22776, OXY USA, Fayette and Manning-Bakken; 14 wells on a 1280-acre unit; establish an overlapping 2560-acre unit, 2 wells; Dunn
22784, Oasis, Cottonwood and Alger-Bakken; establish two overlapping 2560-acre units; 1+ wells on each or alternatively, 18 wells on the existing 1280-acre unit; establish two 1280-acre units; 1+ wells on each; Mountrail
22785, Oasis, Alger-Bakken, establish an overlapping 2560-acre unit; 1+ wells; or alternatively establish a 1280-acre unit, 18 wells on that unit; Mountrail
22786, Whiting, Sanish-Bakken, establish 15 overlapping 2560-acre units, 1 well each; establish 7 overlapping 1280-acre units, 1 well each; Williams, McKenzie
22792, BR, Sand Creek-Bakken, 9 wells on a 1280-acre unit; establish an overlapping 2560-acre unit, 1 well, McKenzie
22794, BR, amend order 18849, Corral Creek-Bakken, establish a 1280-acre unit, 11 wells on said unit; Dunn
22795, Hess, Antelope-Sanish, establish two 1280-acre units; 12 wells one of the units, and 10 wells on the other unit; establish an overlapping 2560-acre unit, 3 wells; McKenzie
22800, Hess, Blue Buttes-Bakken, 11 wells on a 1280-acre unit; 12 wells on another 1280-acre unit; establish an overlapping 2560-acre unit, 1 well, McKenzie
22809, Murex, Alexandria-Bakken, 8 wells on a 1280-acre unit, Divide
22810, Murex, Musta-Bakken, 8 wells on a 1280-acre unit, Divide
22820, Hess, Robinson Lake-Bakken, 11 wells on an overlapping 2560-acre unit; 13 wells on each of two overlapping 1280-acre units; Mountrail
22631, cont'd
22632, cont'd
22633, cont'd
22634, cont'd
22635, cont'd
22373, cont'd, Emerald Oil, risk penalty legalese,
22374, cont'd, Emerald Oil, risk penalty legalese,
22375, cont'd, Emerald Oil, risk penalty legalese,
22376, cont'd, Emerald Oil, risk penalty legalese,
22377, cont'd, Emerald Oil, risk penalty legalese,
22378, cont'd, Emerald Oil, risk penalty legalese,
22379, cont'd, Emerald Oil, risk penalty legalese,
22380, cont'd, Emerald Oil, risk penalty legalese,
22381, cont'd, Emerald Oil, risk penalty legalese,
22382, cont'd, Emerald Oil, risk penalty legalese,
22383, cont'd, Emerald Oil, risk penalty legalese,
22384, cont'd, Emerald Oil, risk penalty legalese,
22385, cont'd, Emerald Oil, risk penalty legalese,
22386, cont'd, Emerald Oil, risk penalty legalese,
22387, cont'd, Emerald Oil, risk penalty legalese,
22388, cont'd, Emerald Oil, risk penalty legalese,
22389, cont'd, Emerald Oil, risk penalty legalese,
22391, cont'd, Emerald Oil, risk penalty legalese,

Thursday, August 28, 2014

22841, CLR, Cabernet-Bakken, 28 wells each of two existing 1280-acre units; Dunn
22842, CLR, Murphy Creek-Bakken, 28 wells on an existing 1280-acre unit; Dunn
22843, CLR, Little Knife-Bakken, 28 wells on each of 8 1280-acre units; 6 wells on/near the section line of each; Dunn, McKenzie; 230 wells
22844, CLR, Dollar Joe-Bakken, establish an overlapping 5120-acre unit; 2 wells near section line; Williams
22845, CLR, Baukol Noonan-Bakken, establish a 1920-acre unit; 7 wells; Divide
22846, CLR, Kimberly-Bakken; terminate an existing 1920-acre unit; create an overlapping 1920-acre unit; 7 wells, Divide
22847, CLR, Baukol Noonan-Bakken and/or Noonan-Bakken, establish three 1920-acre units; 7 wells each, Divide
22848, CLR, Bully-Bakken, alter stratigraphic limits, McKenzie
22849, CLR, Bully-Bakken, 28 wells on each of three 1280-acre units; 6 wells near the section lines; McKenzie
22648, cont'd
22649, cont'd
22650, cont'd
22651, cont'd
22652, cont'd
22653, cont'd
22654, cont'd
22655, cont'd
22658, cont'd
22661, cont'd
20926, cont'd
20927, cont'd
20928, cont'd
21755, cont'd
22366, cont'd
22552, cont'd
22553, cont'd
22197, cont'd
22214, cont'd
22218, cont'd
22858, Liberty Resources, Stoneview-Bakken, establish a 1280-acre unit; 13 wells; Burke
22860, Enduro, Hay Draw-Birdbear; Hay Draw-Red River, and Hay Draw-Stonewall, authorize recompletion of #12607; McKenzie
22862, SHD, Heart Butte and/or Deep Water Creek Bay-Bakken, establish an overlapping 1920-acre unit; establish an overlapping 2080-acre unit; 32 wells on each unit; Dunn, McLean
15279, reconsideration, flaring authorization
22888, CLR, Stoneview-Bakken, 10 wells on an existing 2560-acre unit; Divide
22889, CLR, Banks-Bakken, 6 wells on an existing 2560-acre unit; McKenzie
22890, CLR, risk penalty legalese
22891, CLR, risk penalty legalese
22892, Liberty Resources, pooling
22893, XTO, risk penalty legalese
22894, XTO, risk penalty legalese
22895, XTO, risk penalty legalese
22896, XTO, risk penalty legalese
22938, Hunt, Sather Lake-Bakken, 7 wells on each of four existing 1280-acre units; McKenzie
22939, Hunt, Antelope Creek-Bakken 7 wells on each of three existing 1280-acre units, McKenzie
22940, Hunt, Clear Water-Bakken, 7 wells on each of three existing 1280-acre units, Mountrail
22941, Hunt, Bully-Bakken, 7 wells on an existing 1280-acre unit, McKenzie
22942, Hunt, Bear Butte-Bakken, 7 wells on each of four existing 1280-acre units; McKenzie
22943, Hunt, Little Tank-Bakken, 7 wells on each of three existing 1280-acre units; McKenzie
22944, Hunt, Boxcar Butte-Bakken 7 wells on an existing 1280-acre unit, McKenzie
22945, Hunt, Ross-Bakken, 7 wells on one 640-acre unit; 3 wells on an existing 960-acre unit; 7 wells on each of six 1280-acre units, Mountrail
22946, Hunt, Parshall-Bakken, 7 wells on each of 8 1280-acre units; 5 wells on each of 6 1280-acre units

Twelve (12) New Permits -- North Dakota; July 31, 2014; Whitiing Has A Huge Well

Well coming off the confidential list Friday:

• 23057, 496, OXY USA, Federal Tormaschy 2-5-8H-142-96, Manning, t2/14; cum 29K 6/14;
• 24912, 2,607, Whiting, Roen 24-10-2H, Elk, t5/14; cum 16K (14 days) 5/14;
• 27155, 490, MRO, Lucille USA 14-10H, Wolf Bay, t3/14; cum 23K 6/14;
• 27196, 753, Whiting, Evy June 41-18HU, Estes, t5/14; cum 7K 5/14;
• 27297, drl, Hess EN-Ortloff-156-94-2635H-4, Big Butte, no production data,
• 27462, drl, Hess, LK-Bice-LW-147-97-1201H-1, Big Gulch, no production data,

Active rigs:

	7/31/2014	07/31/2013	07/31/2012	07/31/2011	07/31/2010
Active Rigs	193	180	208	184	143

Twelve (12) new permits --

• Operators: XTO (6), Whiting (4), CLR, Samson Resources,
  Fields: Garden (McKenzie), Siverston (McKenzie), Nameless (McKenzie), Sanish (Mountrail), Stony Creek (Williams), Ambrose (Divide)
• Comments:

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

Two (2) producing wells completed:

• 23975, 535, Triangle, Monson 152-102-35-26-1H, Elk, t7/14; cum --
• 27379, 657, Triangle, Monson 152-102-35-26-2H, Elk, t7/14; cum -- 

Unemployment Rate, Five Years Into The "Recovery," Ticks Up -- August 1, 2014; Oil & Gas M & A Spikes

I track "jobs" here. The Obama "recovery" hits its stride and that's the problem. Remember: 30-hour workweeks; fifty employee-threshold; new rules prevent businesses from cost-shifting ObamaCare. Overhearing low-wage employees at any number of retail stores (grocery, bookstores, coffee shops, fast food restaurants), one common theme: not enough hours -- the 30-hour rule is a killer.

Prior to the current administration, the rule of thumb was that a reading of 200,000 or less, new jobs, in any given month was a sign of economic stagnation. Sometime in the last few years the number was changed to 125,000. Regardless, I stick with the 200,000 figure.

Today's report: US job growth cool, unemployment rates rises to 6.2 percent. Reuters is reporting:
U.S. job growth slowed in July and an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.
Not much spin in that article. There w simply wasn't anything to say: five years into the recovery and the unemployment rate ticks back up. Nonfarm payrolls increasing by 209,000 jobs is tepid, tepid, tepid.

The 4.0% GDP reported earlier this week -- really?

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72-Hour Cease-Fire Lasts ... Three Hours

Within hours of the proposed 72-hour cease-fire, Hamas started firing rockets into Israel, and captured an Israeli soldier. Fight's (back) on. 

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Substantial Rise Seen in O&G Mergers, Acquisitions in 2Q

Rigzone is reporting:

The value and volume of merger and acquisitions activity in the oil and gas sector during second quarter 2014 grew substantially from the previous quarter and the second quarter of 2013, according to a recent report by PwC US.

A total of 54 oil and gas deals, with values greater than $50 million, accounted for $42.2 billion in M&A activity for the three month period ending June 30, 2014, up from 47 deals valued at $30.3 billion in the second quarter of 2013. Deal volume in this year’s second quarter was also up 15 percent from the 47 deals in the first quarter of this year, with total deal value rising 131 percent from $18.3 billion.

“The continued interest in shale plays is a testament to how companies and investors view the success of the unconventional landscape, especially as new technologies and methods come to fruition that increase speed and efficiency from the upstream and drilling process to transportation and bringing oil and gas to market,” Brady commented.

Six deals valued at $6.9 billion were reported for the Eagle Ford; three deals each were reported for the Niobrara and Permian, valued at $432 million and $1.1 billion respectively. Two deals valued at $2.9 billion were reported for the Marcellus shale play, while one deal each for the Bakken and Utica were recorded.

For Investors Only -- July 31, 2014; KOG Misses By Ten Cents; DOE Grants Another LNG Export License (Huge Deal); EEP Increases Distribution; UNP Increases Dividend

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

COP transcript at SeekingAlpha. 

Reporting before the market opens Friday: CVX, ENB.

Leucadia Nat'l subsidiary LNG Development Company, LLC -- doing business as Oregon LNG -- secures Department of Energy approval for global LNG exports: Oregon LNG announced that it has received authorization from the U.S. Department of Energy to export liquefied natural gas to countries that do not have a Free Trade Agreement with the U.S. Today's approval comes notwithstanding recently announced modifications to DOE's licensing review process and adds strong momentum to Oregon LNG's project, which is one of the most advanced in the review process conducted by the Federal Energy Regulatory Commission.

• DOE FTA approval is a critical milestone in the multi-step approval process for licensing of an LNG project. The project has filed an application at FERC and is currently under NEPA review. Final approval by FERC and DOE, as well as other approvals, are necessary before the project can commence construction.
• The Oregon LNG operation will be the state's largest property taxpayer, contributing ~$60 mln annually in new property tax revenues to help substantially increase funding for transportation infrastructure, education and other essential public services.
• The Oregon LNG project will have the lowest pipeline transportation cost from Canadian gas fields of any West Coast project.

Oh, oh. Kodiak Oil & Gas misses by $0.10, beats on revs: Reports Q2 (Jun) earnings of $0.08 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.18; revenues rose 72.9% year/year to $300 mln vs the $283.57 mln consensus. Missing by ten cents sort of takes the wind out of those lawsuits looking into the Whiting-KOG deal.

TransCanada misses by $0.02, misses on revs: Reports Q2 (Jun) earnings of CAD $0.47 per share, excluding non-recurring items, CAD $0.02 worse than the Capital IQ Consensus Estimate of CAD $0.49; revenues rose 11.2% year/year to CAD $2.23 bln vs the CAD $2.26 bln consensus.

Union Pacific increases quarterly dividend 10% to $0.50 from $0.455/share. 

Kinder Morgan Partners details expansion plans on EPNG to export natural gas to Mexico; provides for deliveries primarily to a new point of interconnection with the Sierrita Pipeline project along EPNG's South Mainline and also to California: Co announced that El Paso Natural Gas Company has entered into a 21-year firm transportation agreement with Mexico's Comisi n Federal de Electricidad to initially provide ~163,000 dekatherms per day (Dth/d) of firm transportation capacity by October 2014, ramping up to 200,000 Dth/d by October 2017 and 550,000 Dth/d by October 2020. The phased capacity increases will be accomplished using existing and expansion capacity on the EPNG system. As previously announced, capital expenditures are estimated at ~$529 mln.

Enbridge Energy Partners, L.P. announced today that the board of directors of its general partner has declared a cash distribution of $0.555 per unit, or $2.22 per unit on an annualized basis, representing a 2.1 percent increase over the prior quarter. The distribution will be paid on August 14, 2014 to unitholders of record as of the close of business on August 7, 2014. Highlights of earnings report:

• Record-setting Lakehead and North Dakota system deliveries.
• Announced 2.1 percent distribution increase; $2.22 per unit annualized cash distribution rate.
• Reports adjusted EBITDA for the second quarter of $362.3 million.
• Eastern Access, Line 6B replacement project 160-mile segment entered service May 1st.
• Executed drop-down sale to Midcoast Energy Partners, L.P., for $350 million.