Wow, the week that Texas smashed electricity demand records going back to 1925; and, here, compare with California.
Texas oil industry continues to widen the gap:
- Texas oil production now #3, jumps ahead of Iraq/Iran; now #3 behind Saudi Arabia and Russia
- Massive off-shore terminal for VLCC proposed by EPD
- ICE (Houston) to overtake WTI (Cushing) in "importance"
- fast and furious
This is not an "oil and gas story," but it certainly suggests something about the US industrial sector: Alcoa expects to restart a third potline at its Indiana Warrick aluminum smelter
EIA reports a huge crude oil inventory build; meanwhile, the API reports a huge gasoline build at the height of the US driving season.
Operations
CLR's Thronson wells in Alkali Creek have been updated
CLR's Pittsburgh / Uhlman Federal wells in Banks oil field have been updated
XTO's Bullberry Federal pad is updated ; and, here;
Active rigs hit 69 in North Dakota
Oasis reports a nice well using lesser amount of proppant
A BR Remington well in Blue Buttes produces 50K in one month
Miscellaneous
Petro-Hunt acquires 130 Divide County wells from SM Energy
Keystone XL activity in Montana/North Dakota area updated
Petroshale paying "Permian prices" for Bakken acreage
Bakken economy;
Taxable sales, 1Q18; North Dakota, re-posted, expanded
Geoff Simon's top North Dakota energy stories for the past week:
- North Dakota "demands" that the federal government pay for DAPL protest costs; $38 million
- Native Americans want more: on Fort Berthold the Native Americans receive 50% of the taxes collected on tribal trust lands, but leaders say that is not enough
- Moody's Analytics: a recession sometime in the next two to three years would actually be a "PLUS" for North Dakota (we've seen this movie before and Moody's is exactly correct)
- McKenzie County economic stats confirm growth; the monthly economic report for McKenzie County:
- unemployment down from 2.2% to 1.5%
- oil production up from 12.5 million barrels to 14.1 million barrels
- year-to-date value of Watford City building permits up from $6.7 million to $17.9 million
- McKenzie County first quarter taxable sales up from $41.6 million to $57.2 million
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