Tuesday, June 16, 2015

The Data Is There -- If You Don't Mind Ads And Unrelated Links; 101 New Non-Bakken Wells? OilPrice -- June 16, 2015

Link here. OilPrice has the most recent NDIC data.

If you like ads and a lot of unrelated links crowdsourcing articles, you will love that link.

The most interesting data point that I had not seen before was near the end of the article, except I don't know what it means:
Bakken wells producing increased by 107 while North Dakota wells producing increased by 101.
Yes, that's exactly what it said. Here's the screen shot:

The Bakken extends into Montana and Canada and although I know Montana did not have any new Bakken producing wells, I can't say the same for Canada, but I assume the writer is talking about Bakken wells in North Dakota only.

And "North Dakota wells increased by 101" when Bakken wells increased by 107 doesn't make sense either. If the writer means that there were 107 new producing Bakken wells in North Dakota and 101 new producing non-Bakken wells that seems interesting. Tyler wells? No. Spearfish wells? No. Three Forks wells? Probably. Whatever.

By the way, on another note, from that same linked article:
153 new wells went on line in April, or 5.1 wells per day. That compares to 188 that went on line in March or 6.06 per day. Those 188 new wells brought production up 12,371 bpd while those 153 wells saw a decline of 21,866 bpd. It would have taken about 175 new wells to have kept production flat.
That's very, very interesting. I believe "175" is the very same number Lynn Helms has said is the number of new Bakken wells required to maintain production.

A Note to the Granddaughters

From Leroi's The Lagoon, p. 156:
The traditional Greek conception of soul was Homer's.

Patroclus falls at Troy and his disembodied soul takes wing for the House of Hades.

Perhaps this explains why the Greek name for a butterfly is the same as that for 'soul' -- psychē -- for, as the soul flees a corpse at death, so a butterfly clambers from its chrysalis. 
And on the origin of 'cybernetics', page 176:
In the 1940s Norbert Wiener formalized homeostasis as the product of regulatory systems that contain negative feedback circuits. Coining the term 'cybernetics' for the science of such self-regulating systems, Wiener argued that they solved the problem of teleology.... Searching for a name for his new science, Wiener began with 'governor', the name given to the device that regulates a steam engine. This led him to its Latin ancestor, gubernator, an then, via an etymological trail, to the word's ultimate Greek ancestor kybernētēs or 'pilot' which he considered particularly apt since the steering devices for ships were especially good examples of negative feedback control systems. From kybernētēs came 'cybernetics.' It was a felicitous choice since the steersman is an ancient metaphor for control used by both Plato and Aristotle in the context of political hierarchies.

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