Comments: Whiting has a permit for a Lindley well to be sited in NENE 7-153-90;
it will be sited 328' FNL and 614' FEL
There was no other information reported today on the daily activity report.
Later, July 19 2021: wow, the NDIC is really falling behind. As of July 19, 2021, file #38430 / the scout ticket was still not posted. Its location has also not been placed on the map.
The Open: after posting +12 at the end of round 2, I am assuming Phil Mickelson is already on a plane headed back to the states. The leader is -11 and the cut will probably be at +1.
SPCE continues to plummet. The stock, not the plane.
What a debacle. Even my wife --who hasn't missed an Olympics (on television) in decades -- says she is no longer interested in watching this year. Neither am I. In addition to everything else, I hate the tape delays and the way NBC teases "events to come" with never-ending trailers, teasers, and then breaks to commercials that never seem to end. I will follow Katie Ledecky in print media and then watch the YouTube videos.
BLM, game 4, ratings: link here. Twenty-one percent decline. And 2019 was not a great year either. BLM, more than ever, has become a niche sport. Sort of like NASCAR.
Despite the significant improvement, this year’s Game 4 ratings are 21
percent lower than the 2019 NBA Finals between the Golden State Warriors
and Toronto Raports. Still, it’s a step in the right direction.
They're reading the blog: the other day I mentioned we would start reading about the Karman line. And here we go, link to The Wall Street Journal.
Scientists say determining the boundaries of space is fuzzy, but billionaires Jeff Bezos and Richard Branson have ignited the debate as they race to jump-start a space-tourism industry.
For much of the world, the boundary to space is considered the imaginary Karman Line, which starts around 62 miles above Earth and which Mr. Bezos and his Blue Origin LLC capsule is scheduled to cross on Tuesday.
The Federal Aviation Administration considers space starting 50 miles above Earth, and those that fly above that level as astronauts. Mr. Branson and the rest of his Virgin Galactic Holdings Inc. crew received their astronaut wing badges on Sunday after passing that boundary but staying below the Karman Line.
Say what you want: the Virgin Atlantic flight might have been "beyond incredible," but if Bezos is successful, he will have bragging rights. Seriously, after watching the Virgin Atlantic flight, does anyone consider "walk-on baggage" astronauts?
The Fed: the "Morning Brief," Andy Serwer, Yahoo!Finance, link here.
I would argue those policies are
now outmoded and potentially even detrimental. Yes, there has always
been some downside to the Fed’s work, but now — and here’s the crux of
it — because of dramatic and unprecedented moves by the central bank
recently, the collateral damage may be coming close to outweighing the
benefits of the moves themselves.
Specifically,
the Fed’s boosting of the economy by keeping interest rates low
disproportionately helps rich people and thereby actually disadvantages
those in need. To put a fine point on it, hedge fund types, corporate
executives, hotshot techies and the like are becoming way, way richer,
while working people, people with only a high school degree, people of
color are falling further and further behind. This isn’t socialist
bleating. These are facts, and the Fed is a party to it. As such, the
Fed needs a wake-up call, or maybe a reset is a better way to put it.
I
generally abhor Fed bashing. There is an entire cottage industry of
mostly conspiracy-minded wingnuts, who howl that the Fed is either
moving too early or too late or too much or too little, or is in cahoots
with the Trilateral Commission to take over the world. I pay this
little heed and suggest you do the same.
What
I’m talking about though has nothing to do with harebrained stuff,
rather it concerns a sophisticated, highly-regarded institution that has
become locked into policies, which though well-intentioned are now
producing consequences that can be construed as harmful to our society
and economy. Comments: this is a great essay. Probably something that should be studied in business schools. I understand the need for a federal banking system. What I don't understand is how "maximum employment" became one of its two mandates. Yes, I know it was directed by Congress, but why?
As we've seen, Congress is perfectly capable of screwing up "employment." We hardly need more help from the Fed. LOL. If the US Congress is so worried about "max employment," why does it continue to send money to folks making it more comfortable to stay at home and not work.
Having said that, this whole unemployment issue is a non-issue. As I've posted many, many times, no one in Congress really cares.
I happened to run across it again in The Secret Lives of Color, Kassia St Clair, c. 2016. "Minium," page 107. Minium is a pigment.
The dumbest thing in America is when women take the name of their husbands. Perhaps more on this later. But I digress.
From the book:
The pigment used was minium. The person who worked with it was called a miniator, and his work, an eye-catching symbol or heading in a manuscript, was called a miniatura. This is the origin of the word "miniature," which in its original sense did not mean small at all.
Minium was used extensively in manuscript illumination during the Middle Ages, and use of it only gradually died out as vermilion became more readily available from the eleventh century.
Minium, lead tetroxide, can be found in naturally occurring deposits, but it is more commonly manufactured.
Minium was often used as a cheap alternative to vermilion and cinnabar; in fact, the three pigments were often confused, even though minium is generally much yellow than either. Pliny the Elder described it as "flame colored."
Perhaps the confusion was in part due to wishful thinking; although it is cheap, bright, and easy to make, minium is far from an ideal pigment.Even though, like its near relation lead white, it was used as a cosmetic in ancient Greece and China, it is just as poisonous.
Another major problem: it does not mix well with others.
YouTube: what I'm listening to -- Lana Del Rey. Never gets old. It's interesting. It's hard to ask "Alexa" to play Linda Ronstadt, the best singer ever -- the problem: she had such an extensive and eclectic catalogue. I'm interested at different times in "different" "Lindas." If I ask Alexa to play "Linda Ronstadt" I never know what I'm going to get. On the other hand, Lana Del Rey is fairly predictable. With some great and wonderful surprises.
UNP: can there possibly be any more bullish news than this? UNP halts shipments from west coast to Chicago to ease "significant congestion." Link to ZeroHedge. I simply keep accumulating UNP.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
CVX: I just happened to see my quarterly dividend from CVX. I think I'm getting more in dividends than I ever invested in CVX. Yes, as noted, this is the "feel-good" page.
Lunch: my wife goes to fancy Asian restaurant most Fridays. Brings back something for me. She must be enjoying herself. It's 2:00 p.m. CT and she has not yet returned home. And I'm getting hungry.
KMI: to buy Kinetrex Energy -- to add a bit of "green energy" to its mix. What does Kinetrex Energy do? It calls itself a renewable natural gas developer, whatever that means. Machts nichts. I just keep accumulating KMI for the granddaughters. I think KMI is paying 6%. Recently increased its dividend ever so slightly. Pundits: confused with regard to midstreamers. Some love them; some hate them. Whatever. It's harder to build a new pipeline than just buy another pipeline company.
Music: haven't heard this one in a long time. I don't think I've seen this video before.
*************************** The Philadelphia Story
Proterra: after I posted the Philadelphia story, a reader wrote --
It's a long, ugly story - but the miraculous,
clean-green, electric bus - very expensive electric bus - is a failure
on many levels. (The "work" the City did to prep for these buses
destroyed millions of dollars of fairly new landscaping and was just a
nightmare for businesses along the routes.)
We ordered ours from Proterra - that's at the end of this story.
Electric buses contribute to Keller administration’s 100% renewable commitment
Well,
Philadelphia just had to remove their entire fleet of electric buses -
same company. Wonder if we can cancel the rest of our order/
********************************* Released Almost Ten Years Ago
I did not know (or if I did, I forgot).
This is so incredible. I was watching this on the small screen (laptop computer) ... wanted to see it on the big screen .... the large flat screen... I turned on the television ... went to "YouTube" on the Amazon Fire TV Stick ... and this popped up immediately ..
I'm not sure if I can think of any one person that defines the "southern California experience" that I know better than Lana Del Rey.
Philadelphia's Proterra Fleet in complete shambles -- FreeBeacon. Link here.
the problem: the chassis can't support the battery weight; and,
battery life was insufficient for the city's bus routes -- are you kidding me?
the former -- could have been understandably missed, but the latter -- underestimating the energy required for these routes?
$24 million worth of Proterra buses taken off the road
two dozen+ buses unveiled in Philadelphia in 2016 -- now out of operation
entire fleet removed
the cost of Proterra's electric buses has gained attention in recent
weeks. On a recent trip by Biden to La Crosse, Wis., it was revealed
that two buses the city ordered from Proterra for $1.5 million in 2018
have still not been delivered. Over the past five days, Proterra’s stock price has fallen over 25 percent.
not reported: how much water and how long it would take to put out a Philly bus fire? LOL.
Chariots on fire: just a reminder. Link here. I had completely forgotten this link. Great readers. With great memories.
What I'm watching now:
The Tall Men, 1955
on TCM
noted for its cinematography, set in Montana but filmed in Sierra de Órganos National Park, Sombrerete, Zacatecas, Mexico; snow sequences in Sun Valley, ID
34140, 2,126, WPX, Raptor 13-24HEL, Reunion Bay, t11/18; cum 486K 5/21;
34139, 2,528, WPX, Raptor 13-24HZ, Reunion Bay, t11/18; cum 478K 5/21;
34138, 1,241, WPX, Raptor 13-24HY, Reunion Bay, Three Forks, t11/18; cum 229K 5/21; stimulated 10/18; 50 stages; 8.5 million lbs proppant;
This singleton might be considered the parent well. A great well, but it looks like daughter wells do just fine, but note #23265 is a short lateral; the daughter wells are typical long Bakken horizontals:
23265, 494, WPX, Coyote Necklace 24HD, Reunion Bay, t10/12; cum 452K 5/21;; recent production:
July 16, 2021: from a reader after the data below was posted:
That WPX well #33382 was re-injecting a solid 100,000 cubic feet of gas per day ... undoubtedly for gas lift purposes.
From
my readings, I suspect both Bakken and Eagle Ford operators are leading
the way in forward-looking practices while the Permian players continue
to struggle a bit.
Reply: my hunch: in addition, I do think the operators in the Bakken know the geology like the "back of their hand" as they say.
********************** The WPX Mandan North Wells
The wells:
33382, 3,662, WPX, Mandan North 13-24HA, Reunion Bay, t4/18; cum 577K 5/21;
33383, 3,115, WPX, Mandan North 13-24HB, Reunion Bay, t4/18; cum 536K 5/21;
33385, 3,485, WPX, Mandan North 13-24HC, Reunion Bay, t4/18; cum 519K 5/21;
33381, 3,433, WPX, Mandan North 13-24HW, Reunion Bay, t4/18; cum 568K 5/21;
33384, 2,487, WPX, Mandan North 13-24HX, Reunion Bay, t4/18; cum 522K 5/21;
Was there a parent Mandan well? Not really, but this one comes close. This one runs east to west, whereas the Mandan North wells run north to south,
18986, PA/273, WPX, Mandan 13-14H, Reunion Bay, t10/11; cum 133K 9/17;
Production gives the lie to the meme that daughter wells perform substantially worse than parent wells. Initial production data:
18986, the parent well, and now PA,
BAKKEN
4-2012
28
3780
4615
3352
0
0
0
BAKKEN
3-2012
31
4463
3587
3816
3600
0
3500
BAKKEN
2-2012
29
5578
6419
5456
5184
0
5084
BAKKEN
1-2012
31
4553
4350
4754
9663
0
9563
BAKKEN
12-2011
31
9271
9102
8711
9663
0
9563
BAKKEN
11-2011
30
4400
3569
9799
2969
0
2869
33382, still producing nicely but, of course, has plateaued to a much lower monthly production rate:
"a 28% slowdown on the heels of the record first quarter, yet a
still-impressive 4% increase over the fourth quarter of 2020, when we
included TD Ameritrade for the first time," -- CEO
added 1.7 million new brokerage accounts -- I find this simply incredible -- Schwab's third straight quarter with new accounts exceeding one million
total client assets:
$7.4 trillion
32.1 million accounts (includes international users)
many folks have multiple accounts
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
TSLA: trading below where it was when it entered the S&P 500.
Jim Cramer: has the morning off today. Bummer.
CNBC theme:
dueling market narratives
inflation is transitory
inflation is not transitory
we saw what happened when the Fed tried to stop inflation during the Jimmy Carter debacle
soon to see articles questioning need of Fed to raise rates to address inflation
The five-time Olympic gold medalist owns world data within the 400-,
800-, and 1,500-meter freestyles. The same old hole for a world file is
as skinny as an Olympic medal. However Ledecky doesn’t simply beat data,
she transforms them. The 800? She has the 24 quickest swims of all
time. The 1,500? The highest 11 instances. The 400? Twelve of the
highest 14 instances.
At this post, what a reader has to say about Katie Ledecky. After posting the Ledecky links above, the same reader added this: great, long overdue attention being placed upon Katie Ledecky.
In the Forbes article, she mentions listening to Southside Johnny and the Asbury Jukes for motivation.
I
do not know if you are familiar with that group, but they were
considered the "World's Greatest Bar Band" in the late 70s/early 80s for
their high energy, distinct sound playing Jersey Shore venues during
this period.
Masks are back: forget the vaccine. Even if vaccinated, masks now required (again) in Los Angeles, starting midnight tonight.
Most irritating commercial now on television: "just the beginnin'."Amazon's Black Business Accelerator to support Black-owned retail businesses. Nothing to do with race. It's simply an awful commercial. First question: did Sir Richard take any African-Americans into space with him? Asking for a friend.
These numbers must have put a smile on Jay Powell’s face this morning.
from the linked article --
U.S. retail sales were unexpectedly stronger last month, data from
the Commerce Department indicated Friday, suggesting job gains and
rising vaccination rates offset inflation concerns in the world's
biggest economy.
June retail sales rose 0.6% from last month to a
collective $621.3 billion, the Commerce Department said, well ahead of
the Street consensus forecast of a 0.4% decline. The May total, however,
was revised to lower, to a decline of 1.7% on the month. Stripping out
auto and gasoline sales, June retail sales were up 1.3%, the Commerce
Department report noted.
******************************* Back to the Bakken
Active rigs:
$71.94
7/16/2021
07/16/2020
07/16/2019
07/16/2018
07/16/2017
Active Rigs
23
11
56
69
58
No wells coming off the confidential list.
RBN Energy: how the FERC sets oil and gas pipeline rates.
The uninitiated might be forgiven for thinking that oil and gas pipeline
operations are similar. After all, they’re just long steel tubes that
move hydrocarbons from one point to another, right? Well, that’s about
where the similarity ends. While the oil and gas pipeline sectors are
interlinked, they developed in quite distinctly different ways and
that’s led to a vast chasm in both the way the two are regulated and how
their transportation rates are determined. Bridging that gap between
oil and gas can be a perilous and chaotic endeavor because you’ve got to
consider how each sector evolved over time and the separate sets of
rules that have been established to form today’s competitive
marketplace. In today’s blog, we continue our review of oil and gas
pipelines and how their separate histories led to the current
differences in pipeline rate structures.
five BR wells on a single pad, #36825 - #36829, inclusive.
"Three Rivers" wells in Charlson oil field
all other wells sited in this section are 640-acre, short laterals. It's hard to believe these wells are sited to run south but that seems very likely; I doubt they will run to the east, but that's also possible;