| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| SANISH | 6-2015 | 30 | 20321 | 20246 | 7767 | 30465 | 0 | 30315 |
| SANISH | 5-2015 | 29 | 19494 | 19744 | 8651 | 29116 | 0 | 28971 |
| SANISH | 4-2015 | 21 | 16412 | 15672 | 7287 | 24400 | 0 | 24295 |
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| LODGEPOLE | 5-2015 | 31 | 3447 | 3384 | 2989 | 5024 | 5024 | 0 |
| LODGEPOLE | 4-2015 | 1 | 60 | 0 | 221 | 199 | 199 | 0 |
| LODGEPOLE | 3-2015 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 2-2015 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 1-2015 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 12-2014 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 11-2014 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 10-2014 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| LODGEPOLE | 9-2014 | 10 | 1789 | 1786 | 1167 | 0 | 0 | 0 |
| LODGEPOLE | 8-2014 | 7 | 811 | 444 | 1089 | 0 | 0 | 0 |
| LODGEPOLE | 7-2014 | 12 | 1185 | 1185 | 1054 | 0 | 0 | 0 |
IBM today announced the launch of a new service that will allow large companies to easily incorporate Mac computers into their preexisting corporate infrastructure. The service, being deployed by IBM's MobileFirst Managed Mobility Services unit, will be aimed at companies around the world and not just based in the United States.This may simply be one of the biggest "non-merger" mergers in the history of IT.
Thanks to the MobileFirst partnership with Apple that has brought about multiple waves of enterprise-focused apps as the company has increased its own usage of Macs, IBM saw an opportunity to commercialize its expertise in "enterprise deployment" of Macs in the workplace.
Saudi Arabia is returning to the bond market with a plan to raise $27bn by the end of the year, in the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter.
Bankers say the kingdom’s central bank has been sounding out demand for an issuance of about SR20bn ($5.3bn) a month in bonds — in tranches of five, seven and 10 years — for the rest of the year.Previous posts:
The Texas electric grid broke the all-time record for hourly demand between 4 p.m. and 5 p.m. Wednesday as temperatures continue to peak above 100 degrees, according to the Electric Reliability Council of Texas.
The ERCOT system demand reached 68,459 megawatts within the record 60-minute time frame, which exceeded the previous Aug. 3, 2011 record of 68,305 megawatts. One megawatt is enough to power about 200 homes during periods of peak demand.On July 29, ERCOT asked Texas consumers to reduce their power use to reduce the chance of outages, though Jones said the electric grid has been able to provide capacity as high as 71,000 megawatts. It was the first system-wide conservation alert since March 4, 2014.
As for the record-setting Wednesday, ERCOT said wind power contributed about 2,500 megawatts during the peak.2,500 / 68,459 = 3.7%.
Once a poor nation whose economy depended on fishing and pearl diving, Qatar is a relatively new giant in the global energy trade.
In the 1970s, Shell discovered the world’s largest trove of natural gas, called the North field, in Qatari waters. But there was no market for the fuel. Potential customers in Europe were too far to reach via pipeline, the usual method. Shell walked away.
Looking to the example of Malaysia and Indonesia, Qatar and Hamad bin Khalifa al-Thani, who was then its emir, started promoting L.N.G. in the mid-1990s. Exxon Mobil was the important early investor; Shell, Total and ConocoPhillips soon followed.
Qatar and its energy partners took the business to a new level, developing far bigger and more efficient plants. Last year, Qatar produced about a third of all liquefied natural gas, although Australia and the United States have big export ambitions.
I think the writer at the NYT completely missed the bigger story.It is a lucrative business that has made Qatar the world’s wealthiest country by output per capita. While industry growth has recently been flat, worldwide volumes have roughly quadrupled in the last two decades to about 240 million metric tons a year, or 264 million short tons, accounting for about one-third of overall gas exports. Annual sales are estimated at $180 billion.
U.S. natural gas company Oneok Inc's chief executive officer said on Wednesday the company was on track to connect more than 700 wells in the Williston shale basin in North Dakota in 2015 and forecast connecting more than 600 next year.
Oneok CEO Terry Spencer said the company connected more than 260 new wells in the Williston in the second quarter, bringing its year-to-date total to more than 560 new connections.
"There continues to be an inventory of flared gas in the Williston basin and we estimate approximately 145 million cubic feet per day is dedicated to the partnership, with the majority of the wells flaring already connected to our system," Spencer said, referring to Oneok Partners LP.
Tesla's business is so weak that it had to guide 3Q and 4Q down, and all hints from Musk's comments on the conference call point to a capital raise coming extremely soon (within a few days?). Taking the issues one-by-one:
- Deliveries: guidance is down; also, unable to say how many cross-over SUVs they plan to ship next month;
- Loss per car is increasing: from $11K per car in December, 2014; to $16K per car now;
- Financial: looks like Goldman Sachs and/or Morgan Stanley are getting ready to broker equity issue; possibly using idea of becoming a Uber competitor as an excuse; and,
- Cash burn: $550 million in quarterly cash burn, Tesla basically needs to raise $2.3 billion not just in 2014, but every year.
Shares of Tesla Motors Inc fell about 6 percent on Wednesday after the electric car maker posted a wider quarterly loss and said it may raise more cash to offset heavy spending on expanded production.
Tesla lowered its full-year sales forecast to a range of 50,000 to 55,000 cars. Last year, Musk had forecast sales of 60,000 cars in 2015, but cut that earlier this year to 55,000.
He forecast vehicle sales next year of 83,000 to 93,000.
The company said it lost $184.2 million in the second quarter, compared with a loss of $61.9 million in the year-ago period. Revenue climbed 24 percent to $955.0 million, from $769.3 million, as car sales continued to rise.
On an adjusted basis, Tesla said it lost 48 cents a share, less than the 60 cents analysts had expected. In the year-earlier period, Tesla said, it earned 13 cents a share on an adjusted basis.
With expenses still outstripping revenue, Tesla's cash reserves fell to $1.15 billion as of June 30, from $1.5 billion on March 31 and $1.9 billion on Dec. 31, bringing total cash burn in the first half to $755.0 million.
Earlier this year, Ahuja said total cash burn for the year should be less than $1.0 billion.I wonder when CFO Deepak Ahuja makes an announcement that he is leaving Tesla to spend more time with his family.
Updates
March 3, 2021: a microcosm of the Bakken.
Original Post
Frack data is available for only one well. Check out the minimal amount of proppant used for #21602.
First 5-well pad:
"Still, it was Ledecky, who has never contested the 200 free at an Olympics or worlds, who proved the class of the field as she continues to solidify her claim as the greatest U.S., or perhaps just the greatest, freestyler in history."The reader adds: "Kinda fun how the two that are pictured (Katie and Missy Franklin) both have ties to Williston, except Missy's is through her coach Todd Schmitz who is the son of Orel Schmitz (formerly of Williston).
| 8/5/2015 | 08/05/2014 | 08/05/2013 | 08/05/2012 | 08/05/2011 | |
|---|---|---|---|---|---|
| Active Rigs | 75 | 193 | 183 | 206 | 183 |
Asking R.T. Dukes why oil companies are finishing up their drilled, but uncompleted (DUC) wells – bringing even more oil to weigh down an oversupplied market – his answer is simple: business is competitive.
“If this were a monopoly, they probably wouldn’t complete them, but the fact is they’ve got competitors across the globe and across the country. They’ve already spent the money to begin the well,” Dukes, research director at Wood Mackenzie, told Rigzone.
“They’re in the business of producing oil. If they wanted to leave it in the ground and be a storage company, they’d have a different business model.”
Numbering DUCs in the thousands may be a distortion of the true count. DUCs may occur naturally as part of the development of a single pad, which services multiple wells. So they’re a natural inventory for various plays, he said. Looking at the hard number of wells intentionally placed in the DUC stage is between 700 and 800.
Completing those wells will probably spill over into next year, but WoodMac doesn’t believe that when they’re at peak production – estimated between 250,000 to 350,000 per day – and it won’t be enough to move the market.These guys are much smarter than I but I have trouble accepting the statement that "the hard number of wells intentionally placed in the DUC stage is between 700 and 800."
A California pipeline owned by Plains All American ruptured in May, causing an oil spill near Santa Barbara, CA. The company said Tuesday that its 2015 guidance assumes the pipeline won’t return to service this year. As a result, it reduced the midpoint of its outlook for adjusted earnings before interest, taxes, depreciation and amortization by $50 million, to $2.275 billion. [And all the king's men won't put the pipe together again....this year.]Going through yesterday's list, the opportunities look huge. But remember, this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here.
The bottom line. Think about this logically.
Do you think that all five of the companies listed above will suddenly turn their fortunes around and see a v-shaped recovery in their stocks?
The only way that could happen is if oil skyrocketed. Oil will not even see a sustainable lift, let alone skyrocket, since supply is high and demand is low.
Remember, China is significantly overleveraged and is on the verge of the biggest economic collapse in history. Demand for oil will not come from China.
In the United States, the Federal Reserve has done everything in its power to create an artificial landscape of economic growth, but in reality this has only led to debt-fueled growth across numerous industries. Now that these effects are wearing off, we will get to see the real picture, which is deflation.
Oil simply does not rise in a deflationary environment. That being the case, the five companies above are going to have a difficult time.
After slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders.
Depressed crude prices - at below $50 a barrel Brent crude is half what it was a year ago - mean even more cuts are needed at new projects and existing operations. Companies trying to dispose of oilfields to raise cash could be forced to sell quickly and for less than they hoped.
There is little sign that the oil price will come to the rescue as the Organization of the Petroleum Exporting Countries (OPEC) continues to pump hard into an oversupplied crude market in response to explosive growth in U.S. shale oil.
The Oklahoma Corporation Commission’s Oil & Gas Conservation Division (OGCD) announced plans to reduce oil and gas wastewater disposal well volume in a proscribed area of northern Oklahoma County and southern Logan County to try and (sic) reduce earthquakes.
Under the plan outlined in an Aug. 4 letter, operators will have a 60-day period during which volume will be reduced 38%, or about 3.4 million bbl under the 2014 total. Such a reduction will bring total volume for the area to a level under the 2012 total by about 2.4 million bbl.
An OGCD news release said the area saw its sharpest rise in seismicity start in late 2012. The agency has been studying the possibility of earthquake activity being caused by oil and gas wastewater disposal wells in the state.
Previously, the Oklahoma Geological Survey said it’s “very likely” that a majority of frequent earthquakes in recent years across central and north-central Oklahoma were triggered by the injection of produced water in disposal wells.
Oklahoma experienced a seismicity rate in 2013 that was 70 times greater than the background seismicity rate observed before 2008, OGS said in an April statement, adding the accelerating seismicity rate continued to increase during 2014.
Most Oklahoma earthquakes occurred within crystalline basement, deeper than most oil and gas operations, OGS said. Arbuckle formations overlie the crystalline basement.Much, much more at the link.
| 8/5/2015 | 08/05/2014 | 08/05/2013 | 08/05/2012 | 08/05/2011 | |
|---|---|---|---|---|---|
| Active Rigs | 74 | 193 | 183 | 206 | 183 |
The site of Cheniere Energy’s new liquefied natural gas (LNG) export terminal in Corpus Christi is only a short drive from the heart of the Eagle Ford. But for supply diversity’s sake, Cheniere won’t depend only on Eagle Ford gas for supply—far from it, in fact. Plans are in the works to enable Corpus Christi LNG’s five planned liquefaction “trains” to access gas from a wide variety of shale plays and basins, in some cases moving gas long-distance. Today, we continue our look at the challenges of securing and moving huge volumes of gas to LNG export terminals, the emerging epicenters of U.S. gas demand.
When Toyota was planning a new manufacturing plant for its Tundra pick-ups in San Antonio a few years ago, it avoided logistical issues by arranging to have more than 20 of its key parts suppliers build factories on the same site. Well, making pick-ups is not like making LNG. As we described in Episode 1 and Episode 2 of our series, Cheniere Energy plans on sourcing a considerable portion of the gas it will need for its six-train Sabine Pass LNG liquefaction/export terminal in Cameron Parish, LA from the Marcellus—a feat made possible by making several big pipelines between the Northeast/Midwest and the Gulf Coast bi-directional, and by enhancing the pipeline network within Louisiana. Cheniere’s thinking, of course, is that to get the best gas prices you need competition, and to ensure competition you need pipeline capacity to move gas to Sabine Pass from a wide range of sources.
The same holds true for Cheniere’s Corpus Christi LNG, which ultimately could have as many as five liquefaction trains—each with the capacity to produce 4.5 million tons per annum (MTPA -needing about 650 MMcf/d of natural gas)—by the early 2020s. The first two trains at Corpus are under construction and are expected online in late 2018/early 2019; Cheniere expects to make a final investment decision (FID) on Train 3 later this year, and recently announced plans for two more trains at the same site. Corpus Christi and Sabine Pass are different in at least two ways (and we’re not counting the fact that Corpus has better tacos and Cameron Parish has better po’ boys). First, Sabine Pass is an existing LNG import terminal, which means it already has the docking facilities and (just as important) several pipelines that connect the terminal to major gas transmission lines. Corpus, meanwhile, is a “greenfield” project, and it needs both new docking facilities and a link to the regional pipeline network. The second difference between the two LNG projects is that Corpus has direct access to Eagle Ford gas.
