November 10, 2015

Active rigs:

	11/10/2015	11/10/2014	11/10/2013	11/10/2012	11/10/2011
Active Rigs	66	192	182	191	199

RBN Energy: School of Energy opportunity.

Update on slump in crude oil prices: Breitbart, September 5, 2015. Some nice graphs.

EIA "Energy Cookie" on the Highway Trust Fund:

In the fiscal year that ended September 30, 2015, the average monthly net HTF tax receipt was about $3 billion, and the average monthly outlay was nearly $4 billion. With outlays exceeding receipts and HTF balances dwindling, Congress in July transferred $8 billion from other sources to ensure the fund's solvency. Before this transfer, the HTF was at $6.1 billion, the lowest monthly value in decades. --- EIA

Another shout-out / thanks to the reader who reminded me to check in on FracFocus if the NDIC file does not include completion data. FracFocus requires the API number so if I check FracFocus I include the API number when reporting the well.

Flashback: it's hard to believe that a single wildcat well started "all this in the Three Forks" and that it was as far back as 2008 (I would have guessed, 2010, and would have been wrong). From The Bismarck Tribune, June 17, 2008:

A single successful oil well tapped below the Bakken shale formation in western North Dakota has spurred speculation that a separate - and perhaps rich - oil-producing reservoir may be buried in the state's oil patch.

Enid, Okla.-based Continental Resources Inc. says its new oil well in Dunn County produced an average of about 700 barrels of oil a day during its first week of production last month.

It was Continental's first well in the Three Forks-Sanish formation, said Harold Hamm, the company's chairman. The formation is made up of sand and porous rock directly beneath the Middle Bakken, which lies two miles under the surface in western North Dakota and holds billions of barrels of oil.

See this presentation which I believe was published about that time. I might come back to this one again, particularly slide 30. 

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Notes to the Granddaughters

After two hours of water polo practice, our oldest granddaughter is ravenous for a snack on the way home. Last night I forgot to bring something from home, so after dropping her off at the natatorium, I drove back to Tom Thumb (major grocery store in this part of the world) to see what I could find. Incredible. Apparently, at the end of the day, they clear out their pastry shelves and mark everything down for "quick sale." Plastic containers with six big fancy donuts, priced at $4.99 during the day, are marked down to 99 cents. [This might explain why Houston and San Antonio lead the nation in obesity data.]

I had one donut this morning; I did not notice much "aging." Actually, it was quite good. Less than 20 cents vs regular price of 75 cents and much less than chocolate croissant at Starbucks. I won't even get into cost of coffee at home vs Starbucks.

Meanwhile, the middle granddaughter, 4th grade, is working on her "healthy eating assignment" this week. Students are recording everything they eat and calculating the calories.