Week 30: July 26, 2015 -- August 1, 2015

The big story of the week had to do with oil sector losses in the stock market. The press made it look pretty bad with the headlines, but everyone knew it was coming. At least one astute reader suggested that oil companies took as many losses and write-offs as they could squeeze into the 2nd quarter to get it all behind them. It that's accurate, and if prices hold, and demand goes up in July, August, September, it's going to be an interesting 3rd quarter.

The other big story, of course, was a non-Bakken story: IBM announced the enterprise was switching to Apple and will ditch Lenovo.

Another interesting story: wind energy not meeting California's energy demands made worse by EVs.  And speaking of California, a great graphic shows why gasoline costs so much in that state.

The agenda for the  NDIC hearing dockets for August were released.

Operations
Huge: better and better wells in the Bakken
Completed wells are showing incredible IPs
Seven more completed wells with great IPs 
Ten more great producing wells completed
Active rigs end the week at 74; up from post-boom low of 68
Oasis proposes 9 wells inside city limits on east side, near University Avenue 
Oasis proposes up to 24 wells in several 1280-acre drilling units 
Whiting to go to 6 rigs in the Bakken; had originally planned to go to nine
SM Energy's hot spot in Divide County
Rigs by operator in the Bakken

Fracking
Mega-fracks -- Mike Filloon; also here
Re-fracks 
QEP using lot of sand, lots of stages

CBR
Why the Feds won't ban CBR
Feds finally issue ruling on "unattended" CBR trains -- phone it in
End of the line for CBR in the Bakken?

Bakken economy
XTO donates $5 million for affordable housing for teachers, police in three Bakken communities
Lower oil prices will strain state coffers; state has only $700 million balance, $100 million more than projected two months ago
Williston's average wage tops $80,000, beating nation average of $72,000
Update on Spiritwood development, Jamestown, North Dakota

Commentary
$200 oil
The Bakken never fails to amaze me -- Kathy Neset 

Miscellaneous
Photo of an 18-well super-pad; also here
The Hess EN-Fretheim / Cvancara 18-well pad has been updated