| 4/11/2016 | 04/11/2015 | 04/11/2014 | 04/11/2013 | 04/11/2012 | |
|---|---|---|---|---|---|
| Active Rigs | 31 | 93 | 190 | 187 | 208 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 2-2016 | 32393 | 48308 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 2-2016 | 12678 | 0 |
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 2-2016 | 14813 | 0 |
Can you move 1,200 miles just to lower your taxes? Well, David Tepper can, and it may save him hundreds of millions of dollars.
Tepper is the founder of hedge fund Appaloosa Management, and he’s worth more than $10 billion, according to Forbes. He ran his firm out of New Jersey for years, but recently moved the operation to Miami Beach. The top income tax rate in New Jersey is nearly 9%. In Florida, the top rate is 0. Tepper will save so much money that New Jersey finance officials worry that the tax revenue lost to his move could blow a hole in the state budget.
Connecticut lost a couple of billionaires as well—businessmen Thomas Peterffy and C. Dean Metropoulos, who also decamped for Florida recently. Their departure lowered Connecticut’s billionaire count from 15 to 13.
The Nutmeg State is also losing longtime corporate citizen General Electric to Boston, a move GE made after Connecticut passed big tax hikes. Florida Gov. Rick Scott even invited Yale University to ditch New Haven and relocate to the Sunshine State, to avoid a new tax some Connecticut lawmakers wanted to impose on the school’s endowment. That bill failed to pass, and Yale says it is staying put (for now).
Saudi Arabia has taken steps to slow Iran’s efforts at increasing oil exports, banning vessels that transport Iranian crude from entering their waters, according to traders and shipbrokers.
Iran already faces insurance, financing and legal obstacles despite the lifting of sanctions linked to its oil industry in January.The Wall Street Journal is reporting:
Tesla Motors Inc. is recalling 2,700 Model X sport-utility vehicles to repair the third-row seats, which could fold forward and become unlatched in an accident.
Tesla found the problem in its internal testing before the start of delivery of vehicles to Europe, and it has had no reports in the public or in accidents.
The recall comes at a crucial time for Tesla as it tries to ramp up production of the vehicle. Tesla has said production of the SUV had reached 750 vehicles a week at the end of March, after struggling with parts supply shortages earlier in the year.As a reminder, Tesla's other model, the Model S, was recognized as the best car of 2015, by Consumer Reports.
The enormous interest in a car that won’t ship for at least 18 months, however, presents a difficult challenge for the Palo Alto, CA, auto maker. Mr. Musk has just 20 months to ramp up production amid continuing quarterly losses and hefty cash outflows.
Mr. Musk [recently] tweeted that deposits for 180,000 of the vehicles had been amassed in 24 hours since its release. He said the Model 3 generated a $7.5 billion backlog in a day, calculating the average selling price at $42,000.Yahoo!Finance says Tesla will reports 1Q16 earnings on May 4, 2016; analysts' consensus is a 59 cent/share loss.
The former head of Britain’s Equalities and Human Rights Commission (EHRC), Trevor Phillips, has admitted he “got almost everything wrong” regarding immigration in a new report, claiming Muslims are creating “nations within nations” in the West.
Phillips says followers of Islam hold very different values from the rest of society and many want to lead separate lives.
The former head of the U.K.’s equalities watchdog also advocates the monitoring of ethnic minority populations on housing estates to stop them becoming “ghetto villages.”
However, the best example of 'wraithing" in The Lord of the Rings must be Saruman.
Saruman's goals are knowledge (no one can object to that); organization in the service of knowledge (there are certainly many researchers, and far more administrators, who see this as desirable); but finally control.
In the pursuit of control Saruman is prepared to co-operate with forces he knows perfectly well are evil, but which he thinks he can use for his own much more admirable purposes, and later suppress or discard.
The failure of beliefs like this is all too familiar from war after war, and alliance after alliance, during the past century.One can easily substitute Barack Obama for Saruman, even more so Hillary.
Nearly six years ago, as Williston strained to accommodate a flood of workers descending on the area in the hopes of finding work in the oil patch, city officials voted to allow crew camps as a solution to meet immediate needs. But, from the beginning, company-run housing was not meant to be permanent.
“I think that has gotten lost a little bit in the story,” said Ward Koeser, who served as Williston’s mayor for 20 years, and was in office when ordinances allowing man camps, followed by ordinances setting expiration dates for them, were enacted.
Gasoline demand, from John Kemp: is US gasoline consumption being overstated? Or making a mountain out of a molehill.“I think we somehow forgot down the line that man camps were always temporary,” he said.
The EIA's weekly and monthly surveys both showed domestic gasoline consumption was subdued in January, most likely because of bad weather affecting large parts of the country at the beginning and end of the month.
But consumption reportedly rebounded to record seasonal rates in weekly surveys for February and March leading some analysts to question whether the EIA is under-estimating exports.
This is certainly possible. The EIA's estimating procedure has a backward-looking component so it can miss sudden changes in the rate of exports and only responds with a lag.
The question is how large these errors in estimating exports tend to be and how much of an error they impart to estimates of domestic consumption.
U.S. gasoline exports are very small in relation to domestic consumption so even relatively large errors in estimating exports have only a small impact on consumption estimates.
In 2015, the country exported an average of 475,000 barrels per day (bpd) of finished gasoline and another 150,000 bpd of blending components compared with domestic consumption of nearly 9.2 million bpd.
The Affordable Care Act suffered another jolt late last week with the news that UnitedHealth Group, the nation’s largest health insurer, was making good on its threat to pull out of Obamacare, beginning with its operations in Georgia and Arkansas.
UnitedHealth roiled the market last November when it revealed that it was considering exiting Obamacare after incurring hundreds of millions of dollars in losses related to ACA business. Then UnitedHealth CEO Stephen Hemsley confessed to investors meeting in New York in December that the company should have stayed out of the program a little longer to better gauge its profitability potential.
The company had cautiously tiptoed into the market in January 2015 after sitting out the first full year of Obamacare operations in 2014. “It was for us a bad decision,” Hemsley admitted to his investors. “In retrospect, we should have stayed out longer.”
So it wasn’t a huge surprise on Friday when UnitedHealth spokesperson Tyler Mason confirmed to The Washington Post that the company, indeed, was pulling out of Georgia and Arkansas, two relatively small states that proved to be highly unprofitable terrain for the company.
To little fanfare and virtually no media coverage, the Congressional Budget Office sharply downgraded its forecast for ObamaCare in its latest report, issued in late March. By just about every measure, things are looking worse than they did a year ago.By any measure ObamaCare is a debacle. Anyone still supporting ObamaCare is a) not paying attention; b) is a bit dull-witted; c) is making money off the scam; d) is a political demagogue; and/or e) is gaming the system.
First, the CBO has cut enrollment goals for the ObamaCare exchanges. Its March 2015 report projected that enrollment would top out at 22 million. Now it puts the ceiling at 18 million. And given ObamaCare’s track record so far, even that’s optimistic.
Lower enrollment numbers should mean lower taxpayer costs, since fewer people will be getting taxpayer-subsidized insurance. But higher-than-expected insurance subsidies are soaking up much of those savings.
Last year, CBO projected that the average subsidy would be $4,040. Turns out, it was $4,240. CBO now thinks subsidies will average $4,550 next year instead of $4,250. That is likely a reflection of the fact that premiums leapt upward this year, and are likely to make another big jump for next year.
As a result, even though the CBO expects that 4 million fewer people will be getting insurance subsidies in 2024, the total cost of those subsidies paid out that year will stay exactly the same: $99 billion.
ObamaCare’s Medicaid expansion is also turning out to be far more expensive than planned, forcing the CBO to hike its 10-year Medicaid cost projection by $146 billion. That’s largely the result of far more people signing up for Medicaid — 2 to 4 million more — than the CBO had previously expected.
In addition, far more workers will find themselves without employer-provided benefits than promised. In its initial report on ObamaCare in 2010, CBO said 3 million workers at most would lose their employer health benefits because of the law. Last year it claimed that 7 million will have lost workplace coverage in a decade. Now it says 9 million will likely be forced off employer plans.
And what about the uninsured? When Democrats shoved ObamaCare onto President Obama’s desk in 2010, the public was told that it would cut the number of uninsured by 32 million. That number has since dropped 25%.
Tucked away a few miles west of the Enchanted Highway south of Gladstone is a large and secluded tract of land where pheasants pop out of thick grassland and deer hide in tree rows that stretch for nearly a half-mile. It’s an area soon to become Stark County’s first North Dakota Game & Fish Department Wildlife Management Area.
The 1,120 acres of land -- which consists of an adjoining section, half-section and quarter-section -- was gifted to the Game and Fish Department by Regina Roth, a longtime teacher and lover of wildlife who died in January at 84 years old.
After graduating from Lefor High School, Roth began teaching at a country school nearby before even obtaining her degree from what was then Dickinson State Teacher’s College. She ended up teaching first and second grades in Mott, where she also became the elementary principal, until her retirement.I'm just impressed with how much land the family accumulated over the years starting with a small homesteading tract.
The WMA [will be] named after her parents, Adam and Theresa Raab, who homesteaded the area.
There are 215 Wildlife Management Areas throughout North Dakota either managed or partially managed by Game & Fish. The WMAs are open to hunting, fishing and trapping, and are also used for hiking, primitive camping and nature study, according to the department’s website.
Of those WMAs, only around 30 are larger than the Raab Wildlife Management Area, and many of those in western North Dakota are near Lake Sakakawea and Lake Oahe.
| 4/11/2016 | 04/11/2015 | 04/11/2014 | 04/11/2013 | 04/11/2012 | |
|---|---|---|---|---|---|
| Active Rigs | 31 | 93 | 190 | 187 | 208 |
What was the typical timeframe for a DUC in North Dakota? In 2013 and 2014, the average days as a DUC was between 60 to 75 days. That changed dramatically in 2015.
The rolling median days spent as a DUC continues to increase, now over 160 days. This analysis capped DUCs at 365 days to remove possible outliers and reporting errors.Likewise, this graphic is pretty cool -- this is the percentage of wells by pad size across the state of North Dakota. Almost 50% of wells in North Dakota are on 5+ well pads. Think of the cost savings and environmental advantages. CLR can claim bragging rights for advocating multi-well pads, although I'm sure others will toot their own horn. It takes a village to do pad drilling.
