Sunday, March 19, 2017

I Can't Make This Stuff Up -- March 19, 2017

Regular readers know my obsession/fascination with this "one."

It never quits. Penn Energy is reporting that the Kemper plant blows another deadline. After a tubing leak, Mississippi Power Co. now says it's unsure when the $7 billion plant will be finished.

Australia's Green Energy Debacle

I will come back to this later with links. For now, from PennEnergy, it is being reported that Australia will expand hydropower project to address shortages.  Again, long time readers know the back-story.

Futures -- Sunday Night

Dow: -31
WTI: -0.80% ($48.39)
Monday: T+59
Feeling Groovy 

Among the many things I will be watching tomorrow is whether there is a report that DAPL oil has begun flowing. If it does begin flowing, it will be on day #59 of Trump's presidency.

Considering the DAPL pipeline was delayed for religious reasons, it is only fitting to note that according to the "sacred scribes":
Angel Number 59 is a message from your angels that sweeping, positive changes are ahead of you.
You are asked to let go of the ‘old’ with love and gratitude and make room for the ‘new’ to enter your life. Be assured that these life changes will have long-term positive effects on many levels.
Angel Number 59 is a message that changes in your life will align you with your Divine life purpose and soul mission, and the angels encourage you to live and fulfill your lightworking duties and destiny. It is time to shift your focus from the material to the spiritual.
Feeling groovy -- the 59th Street Bridge --

Feeling Groovy, Simon & Garfunkel

Whiting Reports Two Nice Rolla Federal Wells Monday; Lime Rock Resources Reports A Cabernet Well -- March 19, 2017

Active rigs:

Active Rigs4732107195185

Wells coming off confidential list --

Monday, March 20, 2017
  • 29601, 250, Lime Rock Resources, Kenneth Stroh 3-12-1H-143-97, Cabernet, middle Bakken, 16 stages, 2.4 million lbs, t9/16; cum 35K 1/17;
  • 31706, 3,771, Whiting, Rolla Federal 31-3-2TFH, Twin Valley, Three Forks, 35 stages; 6.7 million lbs; s8/16; cum 129K 1/17 after four months)
  • 32501, SI/NC, XTO, Werre Trust 14X-34AXD-N, Bear Creek, no production data,

Sunday, March 19, 2017
  • 32331, SI/NC, BR, CCU Red River 1-2-16 MBH, Corral Creek, no production data,
  • 32502, SI/NC, XTO, Werre Trust Federal 14X-34AXD-S, Bear Creek, no production data,
  • 32883, drl, North Range Resources, LLC, Placid 28-1V, Rough Rider, target: Duperow, Mission Canyon, Souris River; spacing 160 acres; a "vertical well" but the target bottom hole will be 1301 feet north of well and 1058 feet east of well; no production data,
Saturday, March 18, 2017
  • 31715, 3,465, Whiting, Rolla Federal 21-3-3TFH, Twin Valley, Three Forks, 35 stages, 7.13 million lbs, t10/16; cum 127K 1/17;

31715, see above, Whiting, Rolla Federal 21-3-3TFH, Twin Valley:

DateOil RunsMCF Sold

31706, see below, Whiting, Rolla Federal 31-3-2TFH, Twin Valley:

DateOil RunsMCF Sold

29601, see above, Lime Rock Resources, Kenneth Stroh 3-12-1H-143-97, Cabernet:

DateOil RunsMCF Sold

Fake News -- Global Warming -- Food & WIne -- March 19, 2017


July 14, 2017: Lobster boom on CNBC, record lobster catch being reported on the US Atlantic Coast. From Maine fishermen set lobster record for seventh straight year. Regular readers know my fascination with this subject. So much for global warming hurting the lobster.

Original Post
From Food & Wine last autumn, after six consecutive years of new US lobster records:

From Fox Business today:

By the way, this is a huge success story due to dedicated marine biologists working with lobster men on the US east coast.

I blogged about the stunning comeback of the lobster industry back on May 7, 2011. From that post:
Link here.
PORTLAND, Maine — On the heels of last year’s (2010) record-shattering catch, another bountiful lobster harvest is expected this year (2011) in Maine.

Last year, Maine fishermen caught more than 90 million pounds of lobster, breaking the record of 81.2 million pounds in 2009. Even though the resource is in strong shape and signs are pointing to another whopper of a harvest, lobstermen are approaching the season ahead with caution.
For those interested in reading about the comeback of the lobster fishing industry, read The Secret Life of Lobsters: How Fishermen and Scientists Are Unraveling the Mysteries of Our Favorite Crustacean. Biologists saved the industry and lobster fishermen are indebted to them. Getting there was not easy for either party, however.

I read that book a few years ago. Incredible. It was a gift from my daughter when we visited her family in Portsmouth, New Hampshire. They now live in Boston area where we spend much of our time. As mentioned earlier, these are my ports o' call: Boston, the Bakken, San Pedro (California), and San Antonio (Texas).
I expect "fake news" in the political media like The New York Times, The New Yorker, The Washington Post, and, especially, The Los Angeles Times, but in Food and Wine? Give me a break.

By the way, I visit our local grocery store about four or five times a week. It's about a 2-minute bike ride. Yesterday as I walked past the fresh seafood I thought to myself: wow, I've never seen it so well-stocked, The Alaskan king crab is incredible. I can't believe how much they ad. Same with lobster. There certainly is no shortage of lobster in the DFW area. For years there have been restrictions on the size of lobster that could be harvested, but apparently those restrictions have been relaxed: I am seeing larger and larger fresh / living lobster for sale. It's really quite remarkable, especially considering that fifteen years ago there really was a concern about declining lobster populations. But it certainly was not due to global temperatures.

Memo to self: I haven't been to a Red Lobster Restaurant in decades. Literally decades. 

Sunday, March 19, 2107

Active rigs:

Active Rigs4732107195185

Cheap gas in Texas: down to 79 cents in Houston. Yes, you read that correctly. Not "down 79 cents," but "down TO 79 cents. Per gallon. This will spook three folks:
  • the Saudis
  • Tesla
  • EVs in general
Someone else can do the math:
  • IEA now says that with the OPEC cuts, there could be a 0.5 million bopd deficit sometime in the 2H17 (that's later this year)
  • not counting the SPR, the US has well over 500 million bbls of stored crude oil; at record levels; and all indications that it will continue to increase