The scuttlebutt in the Bakken right now is that "most five-year leases that expire this year are likely to command a ten-fold increase in the bonus price when the land is again leased." -- John Andrist, Crosby, ND, current ND legislator, past publisher of the Divide County Journal, in the March 30, 2011, Journal.Something tells me there is going to be a lot of drilling going on this summer. Or at least a lot of pads ... and backlogs.
Thursday, March 31, 2011
Leases May Command Ten-Fold Increase in the Bonus Price -- Bakken, North Dakota, USA
Link here.
Futures: WTI Oil Up Another Seventy Cents -- Solidly Over $107
I know futures have nothing to do with what happens the next trading day, but when I see WTI oil solidly above $107 (9:15 p.m EST, March 31, 2011) one has to wonder when folks will get excited enough to start writing their congressmen.
By the way, good news for the consumer; I did not know this: President Obama said that every $10 increase in the price of oil only increases price of gasoline by 25 cents/gallon. At $3.50/gallon in our neighborhood, we can still go up 20 more dollars before we hit $4.00/gallon. Pundits say that the breaking point for the consumer is $4.00/gallon.
I guess that's why there is no change in domestic energy policy.
[Remember, if oil goes over $110 tomorrow, it's April Fool's Day -- probably just OPEC trying to play a joke on us.]
By the way, good news for the consumer; I did not know this: President Obama said that every $10 increase in the price of oil only increases price of gasoline by 25 cents/gallon. At $3.50/gallon in our neighborhood, we can still go up 20 more dollars before we hit $4.00/gallon. Pundits say that the breaking point for the consumer is $4.00/gallon.
I guess that's why there is no change in domestic energy policy.
[Remember, if oil goes over $110 tomorrow, it's April Fool's Day -- probably just OPEC trying to play a joke on us.]
ObamaCare? North Dakota Blue Cross to Raise Premiums As Much as 17 Percent; Lower Than What BC Sought -- Nothing To Do With The Bakken
Link here. (Regional links break often; break early.)
Data points:
Data points:
- To take effect May 1, 2011
- Won't affect employer groups: Individuals trying to go it alone are in a world of hurt
- Annual rate increases: 2.4 to16.9 percent (based partly on when ObamaCare took effect)
- Premium hikes were lower than those sought by the insurer (translation: wait until next year)
Five (5) New Permits -- Bakken, North Dakota, USA
Producers: Ward-Williston, Hunt, Denbury, Baytex, and Marathon.
Fields: Northwesthope (Bottineau County), Ross, Siverston, Bailey, and a wildcat.
The Baytex wildcat is in Divide County.
Permits for those five operators are few and far between.
Three recent permits canceled:
Fields: Northwesthope (Bottineau County), Ross, Siverston, Bailey, and a wildcat.
The Baytex wildcat is in Divide County.
Permits for those five operators are few and far between.
Three recent permits canceled:
- 20352, OXY USA, Reistad, Burke County
- 20175, Samson Resources, Tundra, Divide
- 20176, Samson Resources, Titan, Divide
For Investors: CLR -- A Momentum Stock
Another SeekingAlpha. com article. Continental Resources (CLR), the face of the Bakken, is seen as one of six momentum stocks getting increased attention.
Five of the six companies are oil and gas exploration and production. There is nothing new written about CLR in that article that hasn't been reported here or elsewhere.
Five of the six companies are oil and gas exploration and production. There is nothing new written about CLR in that article that hasn't been reported here or elsewhere.
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