Sunday, March 12, 2017

Evening Rambling -- March 12, 2017

Texas economy: A must-read in today's Dallas Morning News: a modern marvel. How Toyota poured five (5) centuries of work into its Plano (Texas) campus -- during a labor shortage. Five centuries of work, and the US Senate has not even confirmed all of the new president's cabinet appointees.

WMT: back in 1980 shares were selling for 29 cents, I believe, if I'm reading the chart correctly. If accurate, I assume that's based on split-adjusted shares/prices. We'll get back to this later. Wlamart shares are selling for around $70 now. Around $46 in 2005. Hold that thought. I will get back to it later.

Iso Express: electricity currently running about $100 / MWH. 

Energy Page For Sunday, March 12, 2017

Via twitter earlier today:

Same Old, Same Old

From that has been in the news for quite some time now: can oil supply keep up with surging demand? Don't get excited. "We're" talking about "2020." A lot will happen between then and now. In fact, the EIA says "supply will grow for the next three years, then slow down due to the investment slump 2015 - 2017."

It wasn't just the investment slump; the Obama administration did everything it could to destroy/stop/slow (take your pick) the US oil industry. [Alaska, continental shelves, GOM, EPA, pipelines stopped, just for starters.]

I think the "investment slump" would have been a different story had President Obama: a) encouraged E&P in the Arctic; b) encouraged E&P off the continental shelves, particularly the East Coast; c) encouraged E&P in the Gulf of Mexico; d) approved the Keystone Pipeline; e) not gotten involved with the DAPL; and, f) simply being true to his word: "all the above" when it came to energy.

Reason #36 Why I Love To Blog -- March 12, 2017

Those great jobs numbers?

At an earlier post I noted that Bloomberg suggested the good numbers weren't so much due to President Trump as they were due to warm weather.

That's fine. One of many "positives" of global warming. Also, changing crops in North Dakota, and if things really get warm, maybe two growing seasons.

Now, an update, over at a message board, "they" are saying the same thing -- the great jobs report due to great February weather.
Increasing warmth, literally instead of figuratively, was reflected in the jobs report for last month, which was the balmiest February since 1954. That heavily skewed the seasonally adjusted numbers enough for David Rosenberg, Gluskin Sheff’s chief economist and strategist, to question them in a report titled “Fake Data?”
So far from the norm was the mercury last month—an average of 41.2 degrees Fahrenheit versus the normal 34.5 degrees—that he advised clients to “treat all the February data with a huge grain of salt (obviously not the salt used to melt snow off the driveway, since there isn’t any).”
Winter Storm Stella

Mid-March, 2017.  Could be one for the record books. Airlines cancel thousands of flights (headline, March 13, 2017) in anticipation of storm.

The Highway Patrol Page

North Dakota wants to keep speeding affordable

For The Time-Date Stamp Only; 50th Anniversary Of "The Summer Of Love" -- March 12, 2017

A huge "thank you" to a reader for making me think of this: with upwards of 800 DUCs -- many of them reaching their two-year deadline -- this might be the "summer of DUCs" -- especially if crude oil starts moving up.

Some folks are suggesting that the increased OPEC exports in February was due to OPEC off-loading terminals and crude oil tankers already en-route, and that the affect we are hoping to see with the price of oil due to OPEC cuts announced in late 2016 are yet to be seen. We'll see.

But if this is the "summer of DUCs," we might get a chance to see some new completion strategies. Rumors are for some huge completions. We'll see.

The "summer of love" was the summer of 1967, fifty years ago. Wow.

Whiting Reports Another Nice Rolla Federal Well -- March 12, 2017

Active rigs:

Active Rigs4532111193187

Wells coming off confidential list over the weekend, Monday:

Monday, March 13, 2017
  • 30825, 401, WPX, Behr 30-31HTL, Reunion Bay, Three Forks, 41 stages, 6.1 million lbs, t1/17; cum 22K after 23 days;
  • 30826, 571, WPX, Behr 30-31H1, Reunion Bay, 40 stages, 6 million lbs, t1/17; cum 30K after 23 days;
  • 32326, 2,420, Whiting, Rolla Federal 11-3-1H, Twin Valley, 35 stages, 7.1 million lbs, t10/16; cum 116K after 4 months;
Sunday, March 12, 2017
  • None.
Saturday, March 11, 2017
  • 32450, SI/NC, SM Energy, Gracious God 15B-20HS,  Ambrose, no production data,
  • 32460, SI/NC, Hess, BB-Federal 151-95-1708H-11, Blue Buttes, no production data,
32326, see below, Whiting, Rolla Federal 11-3-1H, Twin Valley:

DateOil RunsMCF Sold

30826, see below, WPX, Behr 30-31H1, Reunion Bay:

DateOil RunsMCF Sold

30825, see above, WPX, Behr 30-31HTL, Reunion Bay:

Oil RunsMCF Sold

The Behr Wells Coming Off Confidential List

North Dakota Budget

By the way, we "finally" know why ND is having budget problems and we also know who wants to spend Legacy money now to "right the ship." Bob Port has the story. UND. Back in August, 2016.

Global Warming Hits New England

Blizzard watch from Boston south to NYCElectricity rates already starting to rise; will be interesting to watch overnight. The Kennedys can unpack their winter clothes.

Talk Of Nuclear Winter Hits North Korea


 March 14, 2017: Trump losing his patience ... after only 54 days. LOL.

Original Post 
This too may pass but the increasing number of stories on NOKO, SOKO, Japan, China, US could suggest to someone that the narrative in Washington, DC, is about to change. My hunch is the US, Japan, and SOKO are having some serious discussions.