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Sunday, March 26, 2017

Is This All There Is, Mr Trump? -- March 26, 2017

GDP Now:
Latest forecast: 1.0 percent
March 24, 2017:  The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 1.0 percent on March 24, up from 0.9 percent on March 16.
The forecast for first-quarter real nonresidential equipment investment growth increased from 7.3 percent to 7.8 percent after this morning's durable manufacturing report from the U.S. Census Bureau.
The forecast of the contribution of inventory investment to first-quarter growth increased from –0.87 percentage points to –0.77 percentage points after last Friday's industrial production release from the Federal Reserve Board.
Is "pathetic" spelled with two "e's" or just one?

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The Peggy Lee Page

See this link to North Dakota -- Peggy Lee (from a reader).  What a great country!

Is That All There Is? Peggy Lee

Saudi Is Not The Only One Squirming -- March 26, 2017

Saudi Isn't The Only One Squirming

Norway. From Oilprice.com
Norway:
  • 2017: forecast: 1.60 million bopd
  • 2016: 1.62 million bopd
  • 2015: 1.57 million bopd
  • 2013: 1.46 million bopd
  • 2001: production peaked -- 3.12 million bopd
Great graphics at the site. Norway's production reminds me a lot of Mexico, but underlying reasons are considerably different.
XOM: someone likes it at $78 / share -- well below its recent trading range.  XOM is going to end up being an "accidental high dividend payer."

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Algore Storm

Massive blizzard forces cancellation of Iceland soccer game.

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Word For The Day

In another time and place I most likely would have been transhumance:
Transhumance is a type of nomadism or pastoralism, a seasonal movement of people with their livestock between fixed summer and winter pastures. In montane regions (vertical transhumance), it implies movement between higher pastures in summer and lower valleys in winter.
LGBTTH, I suppose. Or BLT, bisexual transhumance.

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Atmospheric CO2

From CO2Now:


A year ago, February, 2016: 404.16 ppm. We're fighting a losing battle against Mother Nature.

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Boogie, Woogie All Night Long

Yes Sir, I Can Boogie, Baccara

Whiting Reports Another Great Rolla Federal Well -- March 26, 2017

Monday, March 27, 2017
  • 31962, SI/NC, XTO, Bang Federal 21X-19E2, Lost Bridge, no production data,
  • 31963, SI/NC, XTO, Bang Federal 21X-19AXB, Lost Bridge, no production data,
  • 32479, SI/NC, XTO, Werre Trust Federal 14X-34AXB, Bear Creek, no production data,
Sunday, March 26, 2017
  • 31705, 2,079, Whiting, Rolla Federal 31-3-2TFH, Twin Valley, Three Forks, 35 stages, 7 million lbs, t10/16; cum 125K 1/17;
  • 31961, SI/NC, XTO, Bang Federal 21X-19A, Lost Bridge, no production data,
  • 32480, SI/NC, XTO, Werre Trust Federal 14X-34E, Bear Creek, no production data,
Saturday, March 25, 2017
  • 32423, 320, Petro Harvester, FLX1 22-15 163-91B, Flaxton, a Madison well, 19 stages (18 successful), 1.9 million lbs, t1/17; cum 9K 1/17;
  • 32481, SI/NC, XTO, Werre Trust Federal 14X-34A, Bear Creek, no production data,
  • 32985, 1,025, Enerplus, Desert Rose 149-92-35A-04H TF, Heart Butte, t3/17; cum --
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32423, see above, Petro Harvester, FLX1 22-15 163-91B, Flaxton:

DateOil RunsMCF Sold
1-2017793410112
12-20163870

31705, see above, Whiting, Rolla Federal 31-3-2TFH, Twin Valley:

DateOil RunsMCF Sold
1-20172738568016
12-20163091767724
11-20163634686289
10-20162628856199
9-201641357989

Sunday, March 26, 2017

Active rigs:


3/26/201703/26/201603/26/201503/26/201403/26/2013
Active Rigs493299198186


Scott Adams: Trump and healthcare. This is so incredibly cool. I wrote my daily notes dated March 26, 2017, and March 27, 2017, well before I read Scott Adams' note. Very, very interesting.

Back to the Bakken: the Elidah oil field might be telling us something. I will spend some time on updating that field today. If I don't get interrupted. The production data has been updated, but my thoughts on the Elidah oil field are yet to come. Two wells of interest in the Elidah oil field: Nordeng; and, Sivertson Rush.

Random thought: if we don't see DAPL oil flowing this week, methinks there may be a) issues downstream (Iowa?); and/or b) continued domestic terrorism in the Dakotas.

Boomtown population, from The Williston Herald, data points:
  • current: 34,337
    • 65% higher than 2010
    • 3% drop between 2015 and 2016
  • Williams County: rose 53% between 2010 and 2016
  • McKenzie County: almost doubled between 2010 and 2016 (up 98%)
  • births, at Williston's St Alexius Health
    • 2016: 843
    • 2015: 883
    • 2014: 804
    • 2013: 750 
    • 2012: 600 (estimate)
    • 2011: 543
    • 2010: 478
  • Williston Public School District 1:
    • 2009 - 2010: 2,275 students; forced to reopen McVay Elementary; previously closed due to low enrollment
    • 2016: 3,780 students; new $70 million high school
    • superintendent says a new elementary school will be needed
  • 2016: New Public School District 8 added an additional 51 kindergarteners
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