The big story this week has not changed: the slump in the price of oil continues. But the tea leaves suggest activity in the Bakken reached its post-boom low point in the second quarter. Those same tea leaves suggest activity in the Bakken will pick up a bit this quarter (just a bit) and then plateau for a full year before taking off again.
The tea leaves also suggest Saudi Arabia is getting ready to lay the hammer down on OPEC and impose tighter control over production/exports. Enough is enough. Saudi could be facing an existential crisis giving away its oil for $60/bbl.
Other high points were posted in a long note earlier.
Operations
MRO reports a huge Three Forks second bench well
Early use of ESPs in the Bakken
Many, many "pearls" in EOG's 2Q15 conference call
A new flow / IP record in the Bakken?
Fifteen new permits on Thursday
Thursday: every well coming off confidential status to DRL status; four DUCs
Update on a huge well, only 320-acre spacing
Hess completes a Lodgepole outside of Tioga
ONEOK has more than 700 wells to hook up in the Bakken
Update on an old Hess Bakken well; huge production; only 700,000 lbs of sand
Fracking
Check out the remarks made by the EOG/CEO regarding high density fracking
Re-fracking: the jury is still out
Refiners
Hitting new records
Bakken Economy
Best general interest article of the week in the New York Times travel section
How to measure a boom town's population in real time
Now Inc to buy Bismarck-based Challenger Industries
Want to improve North Dakota's "Ag" sector? Build more pipelines
Yes, Williston Wal-Mart is open 24/7 (but as of August 18, I am told that hours will be shortened)
The Williston Wire: regional airports to get huge amount of federal funding
Miscellaneous
Parallels between today's oil glut and the US railroads in the late 1880s
Interview with KMI/CEO
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