Futures Mean Squat -- But All The Same ... Looking Good -- August 13, 2017

Futures mean squat -- but probably more accurate that what NOAA is reporting tonight -- but right now Dow 30 futures are up 62 points; Nasdaq, up 26 points; and, S&P 500, up 8.5 points. Pretty impressive.

Flashback: looking something up in my journal, I came across this note, written on December 27, 2009:

On another note: my dad says the word on the street is that 90 wells a year will be drilled for the next 20 years in Williams County. Is that possible? Rough calculations: there will soon be 100 rigs in North Dakota. A well can now be drilled in less than 30 days but let’s take time off for refurbishing wells, etc., and just say a rig drills 10 wells a year: that’s  1,000 wells/year in North Dakota.

Right now there about four counties where most of the work is being done: Mountrail, McKenzie, Williams and Dunn. But in addition, there’s Burke, Bottineau, McLean, Mercer, Golden Valley, etc. Let’s say 50% in Mountrail, 10% in each of the other “big four,” and 10% for all the rest. 10% of 1,000 wells is a conservative 100 wells next year in Williams County. Whether it can sustain for 20 years is another story, and, of course, for it to continue, they need to continue getting good wells. Time will tell. But 100 wells in Williams County is huge.

Pretty amazing, huh? That's what folks in Williston were thinking back in 2009. And I didn't know any difference.

Sports: wow! Due to family commitments, I missed two great sports events today. I saw most of the PGA championship but missed the last four holes. Turned out to be an incredible tournament. Justin Thomas comes from behind to win his first major. Second, I missed an incredibly good race: Kyle Larson wins in overtime, barely holding off Martin Truex. I saw the video replays: very, very impressive.