Encana Sells All Assets In DJ Basin; How Long Your iPhone Would Last If Powered By Various Forms Of Energy -- October 8, 2015

Link here. Pretty much puts it in perspective.

Natural gas fill rate (dynamic link):  95. In the East Region, stocks were 22 Bcf below the 5-year average following net injections of 57 Bcf.

Gasoline demand (dynamic link): after a fairly dramatic drop over the past few weeks, demand seems to be leveling off, about 500,000 bopd greater than one year ago.

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Encana To Sell Its DJ Assets

Oil & Gas Journal is reporting: 

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Calgary-based Encana Corp., has agreed to sell its DJ basin assets in Colorado to a new entity 95% owned by Canada Pension Plan Investment Board and 5% by Broe Group, Denver, for $900 million.

The deal includes the entirety of Encana’s 51,000 net acres in the basin, where the company reported first-half production of 52 MMcfd of natural gas and 14,800 b/d of crude oil and natural gas liquids. Based on Encana’s development plan at year-end 2014, estimated proved reserves were 96.8 million boe, of which more than 40% was gas.

$900 million / 51,000 net acres = $18,000 / acre (rounded). Okay.

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VW Found The Scapegoats

It took a couple of weeks, but VW finally found the scapegoats. 

A top Volkswagen executive on Thursday blamed a handful of rogue software engineers for the company’s emissions cheating scandal and told outraged lawmakers that it would take years to fix all of the nearly 500,000 vehicles affected in the U.S.

“This was a couple of software engineers who put this in for whatever reason,” Michael Horn, VW’s U.S. chief, told a House subcommittee hearing.

“To my understanding this was not a corporate decision. This was something individuals did.” Horn, chief executive of Volkswagen Group of America, apologized for the scandal and said he only learned of the problem a couple of days before the company admitted it to regulators on September 3, 2015.

The Hillary defense? The next thing we will learn is that it is these same two software companies are tied into the Hillary e-mail scandal.

Let's parse that second sentence in bold: "To my understanding this was not a corporate decision."  "To my understanding..." is key. Clintonesque. What is the definition of a "decision."