Sunday, August 21, 2016

Idle Rambling On A Sunday Night -- Nothing About The Bakken -- August 21, 2016

I don't think I could possibly be in a better mood. Listening to "Telstar" at an earlier post is all it took.

At the moment, I could listen to it a million times, not only because it's a cool instrumental, but because it connects me to when "America was great."

And, of course, America is still great. But old fogies (is that a word?) like me have a gazillion nerve cells in our temporal lobe linked directly to the 60s, without question, the best decade for music ever. With or without the Beatles.

[Yeah, "fogies" is a word. What a great language. What a great country.]

So, what am I looking forward to this week?

More stories on the "death spiral" we call ObamaCare. Did anyone see the story on the EpiPen? In my thirty years in medicine, I never saw an EpiPen used by a layperson. The military is probably the biggest customer for the EpiPen. Someone is going to get rich.

More volatility on the price of oil. Doesn't bother me a bit. By 2020 (hindsight), oil is going to be well above where it is now. For investors, it's an open book test.

The Ukraine situation. Not "The Ukraine" but "the situation." Ukraine is now, simply, "Ukraine." No "the."

The USC-LA Times poll is very, very interesting. And it comes out daily. Means squat. It's all about the five swing states.

The Fed. Let them raise rates a quarter percent just before the election. LOL. These articles that the goals that the Fed set has been met are "ludicrous," as MuskMelon would say. The US at full employment. I agree. But we've been at full employment for the past year or so. It just depends what the definition of "full employment" is. Inflation rate at 2%. Okay. Whatever the Fed says. If it's on the internet, it must be true.

Click "Telstar" again.

Caster Semenya. Everyone knows.

Five Wells Coming Off Confidential List To Be Reported Monday -- August 21, 2016


August 23, 2016: it appears the Rainbow Project is included in the CLR sale.

Original Post

A reader asks a very interesting question, see first comment:
How do I find out if the Rainbow Project was sold by Continental resources in this last sale of 80,000 acres for $222 million.
The Rainbow Project was mentioned at the blog at this link:

There was also a note on the Rainbow Project at this link:

According to Business Wire, The Rainbow Project is located in Sections 17, 18, 19 and 20 in T158N R98W.

Personal comment: if this is the area under discussion, it certainly seems like an area that CLR might sell. 

Perhaps a reader might have an answer. Unless one has "inside information" or "unique access" to the buyer or seller, my hunch is that the answer to question will be somewhat difficult to find in the short run. Within a few weeks, we should start seeing transfer of wells from CLR to another operator. 

Again, perhaps a reader has more on this. This note will also be posted at the original post in which it was reported that CLR sold 80,000 non-core assets for $222 million.

Wells coming off confidential list to be reported Monday:

Monday, August 22, 2016
  • 31364, SI/NC, Statoil, Samson 29-32 5TFH, Banks, no production data,
  • 32044, 1,506, Whiting, Gullikson 44-34H, Glass Bluff, 35 stages, 6.7 million lbs; t3/16; cum 68K 6/16;
Sunday, August 21, 2016
  • 31596, SI/NC, XTO, Johnson 31X-6CXD, Siverston, no production data,
Saturday, August 20, 2016
  • 31365, SI/NC, Statoil, Topaz 20-17 5TFH, Banks, no production data,
  • 32377, 36, Prairie Hills Oil and Gas, LLC, McCarroll 1H, Grover, a Madison well, Target Horizon: Sherwood;  320-acre spacing; W2 of section 16-162-66; t3/16; cum 2K 6/16;  drilling plan: true vertical depth, 5,021 feet; TD = 9,446 feet;  
according to dmr.nd:
The Madison Group has been divided into a number of informal, wireline log-defined intervals. In ascending order, they are the Bottineau, Tilston, Landa, Wayne, Glenburn, Mohall, Sherwood, Bluell, Coteau, Dale, Nesson, Midale, Ratcliffe, and Poplar intervals. Hendricks subdivided the Ratcliffe interval into several subintervals, the Berentson, Alexander, Flat Lake, Charles C, Lustre, and Eggebrecht.
This is the only well/permit currently held by Prairie Hills Oil and Gas, LLC. This well is API: 33-075-01484. This company has been mentioned before on the blog and linked this oilpatchdispatch story. It looks like the company is a ND limited liability company that filed on June 2, 2015, with a registered agent in Bismarck, ND, and a principal address in Big Lake, MN. 

32377, see below, Prairie Hills Oil and Gas, LLC, McCarroll 1H, Grover:

DateOil RunsMCF Sold

32044, see above, Whiting, Gullikson 44-34H, Glass Bluff:
DateOil RunsMCF Sold

Parting Shot

After all that talk about
  • crime
  • transportation
  • not being ready
  • swampy pools
  • unsafe water
  • Zika
  • poor security
The only "crime" at the 2016 Rio Olympics was committed by four American swimmers, led by Ryan Lochte. Can't wait to see which companies he endorses going forward. 

NBC led off the Sunday night finals with a look back at all the talk about crime, unsafe water, and Zika, not one mentioning most of thy hype was from the major networks, including NBC and they did not mention the only real blemish on the Olympics: the US male swimmers, led by Ryan Lochte. pretty much sums up what Speedo and Ralph Lauren probably plan to do. By the way, we now know why his hair was green, and it had nothing to do with the water. He has a history of doing this. As for me, if either Ralph Lauren or Speedo write any new contracts with Lochte, I'm boycotting both Speedo and Ralph Lauren.

Update: that didn't take long. Speedo drops Ryan Lochte's sponsorship. Reported Monday morning. 
The swimmer's sponsorships were worth a reported $1 million annually.
Lochte needs those sponsorships in order to fund his training for the 2020 Games in Tokyo. According to his website, his other sponsors include Airweave, Marriott and Ralph Lauren. Tellingly, Lochte's name and image were recently removed from Olympic endorser page on Ralph Lauren's website.
Update: Ralph Lauren joins Speedo -- dumps Lochte.

Update: Mattress supplier, Airweave, dumps Lochte. Third sponsor; joins Speedo and Ralph Lauren.

Update: this will end it -- the fourth company ends ties with Ryan. Strike four. Out. 

Current Situation In Ukraine -- Map Updated Five Hours Ago -- August 21, 2016


March 27, 2017: Russia warns "nuclear war" risks breaking out in Europe. 

August 25, 2016: Putin calls for "snap" military exercises along the Ukraine border
Original Post
Updated map -- morning of August 21, 2016, just after midnight, Eastern European Time.

Ukraine. Tensions are heating up again. BBC summary in maps. Indications are strong that Putin is getting ready to annex eastern Ukraine.  The Crimean, a peninsula, has been annexed by Russia. Next to go is likely to be the eastern third of Ukraine, known as the Donbass region, composed of Luhansk to the north and Donetsk to the south. If that is not "bad enough," it is now claimed that pro-Putin forces are putting pressure on the western border of Ukraine, in the area it shares with Moldova and known as Transnistria.

It is difficult to keep up with all the moving pieces, but this is a good update as of January, 2016, with regard to Russia's pipeline situation bringing natural gas to Europe.

Daily USC-LA Times Poll

Link here.

For The Granddaughters

The New Yorker Magazine  has been been publishing a series of books on the "decades" the last couple of years. To date, The 40s: The Story of a Decade and The 50s: The Story of a Decade have been published, and I have read most of both. They are anthologies of articles that represent the particular decade as covered by contributors to The New Yorker magazine. They are not the kinds of books one reads from beginning to end. They are more fun to page through and then pick one or two articles.

This past week I received an "advance uncorrected proof/not for sale/on sale 10.25.2016" softcover copy. Except for a few changes, the hard cover will probably be identical.

One almost thinks that two volumes will be needed for the 60s. Of course that won't happen. But, just to start:
  • the moon landing
  • the assassinations -- JFK; RFK; MLK
  • the Vietnam War
  • Dylan
  • the Beatles
  • the Free Speech Movement -- Berkeley
  • Cuban missile crisis
  • the Six Day War
  • Ronald Reagan
  • Telstar
And that barely scratches the surface.

Our oldest granddaughter wants to be a marine biologist; her hero is Rachel Carson. The 60s leads with an excerpt from Silent Spring, by Rachel Carson, as published in The New Yorker, June 16 & June 23, 1962. (It feels funny to type "1962.")

The third selection is In Cold Blood: The Corner, by Truman Capote, as published in the magazine, October 16, 1965. (It feels awkward to type "1965.")

There are a few essays on the Beatles, and the editors were surprised to see how scant the coverage was of the Beatles as provided by The New Yorker. The editors consider that a "miss" but what they did write was excellent, and, in the big scheme of things, all they needed. I don't consider their "scant" coverage of the Beatles (or is it, The Beatles?) a miss.

The anthologies are divided into eight sections:
  • Reckonings
  • Confrontation: Civil Rights; Youth In Revolt
  • American Scenes
  • Farther Shores
  • New Arrivals
  • Artists & Athletes
  • Critics
  • Poetry
I had not heard of Pauline Kael (or had forgotten) but my wife said she read every Kael column (including those in The Stars and Stripes when we were overseas). From the editor's notes:
The newly arrived movie critic Pauline Kael brought the most influential and distinctive voice to emerge in that decade, and her work, re-read, continues to prove that a great critic can be interesting about anything while being wrong about everything. Though she went after Butch Cassidy and the Sundance Kid with a hatchet, it remains a legendary entertainment even today. Still, her tone taught a generation a new way to argue over such things: passionately, intelligently, unfairly, at length.
That's sort of how I feel about The New Yorker and The New York Times: they can be interesting about anything while being wrong about everything. (The Los Angeles Times does not fit that group.) Just the same I have discontinued my subscription to The New Yorker, at least until after the election, and then I will reconsider.

A new word for Arianna's word list: polemic.

And with that, I will leave this for the granddaughters:

Telstar, The Tornados

From wiki:
"Telstar" is a 1962 instrumental written and produced by Joe Meek for English band the Tornados. The track reached No. 1 on the U.S. Billboard Hot 100 in December 1962 (the second British recording to reach No. 1 on that chart in the year, after "Stranger on the Shore" in May), and was also a number one hit in the UK Singles Chart. It was the second instrumental single to hit No. 1 in 1962 on both the US and UK weekly charts.

A French composer, Jean Ledrut, accused Joe Meek of plagiarism, claiming that the tune of "Telstar" had been copied from "La Marche d'Austerlitz", a piece from a score that Ledrut had written for the 1960 film Austerlitz. This led to a lawsuit that prevented Meek from receiving royalties from the record during his lifetime, and the issue was not resolved in Meek's favour until three weeks after his suicide in 1967. Austerlitz was not released in the UK until 1965, and Meek was unaware of the film when the lawsuit was filed in March 1963.