Thursday, March 9, 2017

North Dakota Oil Production Up 4% Month-Over-Month -- March 9, 2017

The Bismarck Tribune also has a story on the data

Director's Cut, January, 2017, data has been published

  • January, 2017: 980,294 bopd
  • December, 2016: 942,322
  • Delta: 37,972 bopd
  • Delta: 4.0% increase month-over-month
  • 95% production comes from the Bakken and the Three Forks
  • 5% production comes from legacy conventional pools
Producing wells
  • January, 2017: 13,333 (all-time high was November, 2016, at 13,520)
  • December, 2016: 13,337
Rig count
  • up five from February to today (March 8, 2017)
  • February, 2017: 39
  • January, 2017: 38
  • December, 2016: 40
Completed wells not producing
  • DUCs, estimated: 802, down 5 from the end of December to the end of January
  • inactive well count, estimated: 1,678, up 105 from the end of December to the end of January
Takeaway capacity:
  • CBR still required
Flaring, capture rate
  • Statewide: 88%
  • Native Americans: 83%
  • Goal: 85%
Oil Panic

From a post less than a month ago:
Dennis Gartman (CNBC contributor) who said oil would never see $55 again, turned bullish this week, suggesting one could see another $6 - $8 on the upside vs only $2 to $3 on the downside.
Well, so much for that.

Will oil open below $50 this morning?
Will oil trade below $49 today? In pre-market trading, actually traded below $49 briefly
"Holy, Batman, what do we do now?" -- Saudi foreign exchange reserves
Why $50 oil  is more likely to be a ceiling than a floor: CNBC
About two weeks ago, bearish Gartman made bulllish call suggesting the floor for oil was now $55
Shale producers to increase production "despite OPEC's warning" -- Reuters
Shell sells sands -- $7.25 billion -- Reuters
Oil majors still years away from repairing balance sheets after price war -- Reuters
March: refinery demand historically at its lowest in the month of March; demand for oil, gasoline will start rising again next month and peaking through the summer months

Wire-Tap Panic

Even Lindsey Graham is now on board. Wants spy agencies to come clean.  

Presidential Tweet

A Day Without A Woman

Thousands of children shut out from school as schools closed down in northeast due to teachers' strike a day without a woman protest.

Non-participating parents who only wanted their children to go to school scrambled to find child-care alternatives.

Meanwhile, the city of Boston reports record number of folks applying to enroll in charter schools. 

High-tech industry in Silicon Valley seen as most-pro-women for hiring:
  • overall in high-tech industries: less than one-third of employees are women
  • in high-paying, technical jobs in high-tech industries: less than one-fifth of these employees are women
Whatever. One wonders how many women didn't show up for work at Apple yesterday?


Spurs epic comeback; highlights below
Wake Forest buzzer beater: this is pretty much a must-watch

Back to the Bakken

Oil rigs:

Active Rigs4533114191187

RBN Energy: why more liquefaction capacity may be needed in less than three years.

Scott Adams: how to convince skeptics that climate change is a problem. Another must-read.

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