Last Thoughts

Wow, there is so much incredibly good information on the net regarding the Bakken.

First, if you haven't seen the Rolfstad Presentation, you need to do that this week. It's a PDF, a very long PowerPoint Presentation. I recommend that if it's your first time looking at it, scroll through it very quickly, stopping to look at the photographs (many of which are probably Vern Whitten photographs), and then go back through the presentation at a more leisurely pace.

For those who have seen the presentation, Richard Zeits has an outstanding piece over at SeekingAlpha, posted May 12, 2013. Somehow I missed it, or at least I think I missed it. I honestly don't remember seeing it but I've done a lot of posting over the past couple of days and I often forget what I've posted.

Be that as it may, the Zeits article is superb. It lives up to the "headline": Bakken: 'Deep' Revolution Underway -- Everything Investors Need to Know.

[The usual disclaimer: this is not a YouTube site. This is a Bakken site. YouTube videos are placed here to break up the narratives.]

I would love to go through the Richard Zeits article now, posting some high points, but I am literally too tired. You are on your own.

Wandering Star, Lee Marvin

See you early tomorrow morning. Maybe.

Piling On

Politico has a most interesting article (I don't know if Drudge Report has it linked yet).

The article is two internet pages long.

An interesting bit of trivia in the long article: the writer opines that the Benghazi and the IRS scandals will last through the 2014 mid-term elections.

Ouch.

But there is another reason the long article is interesting.

The 800-pound gorilla is not mentioned.

Wait until the train wreck in October.

No, wait until the IRS starts auditing Republicans over ObamaCare. That's the 800-pound gorilla sitting in your living room.

My understanding is that the new IRS form declaring one's source of health insurance includes the requirement to check off whether one is a Republican or a Democrat, and/or if one has donated any money to any political party, and if so, which one.

[Not everything posted above is necessarily accurate. I have been known to have my information wrong.]

Wells Coming Off The Confidential List Wednesday

• 20810, drl, Slawson, Mooka 2-29-20TFH, Big Bend,
• 21453, drl, Slawson, Waterbond 2-27-34H, Van Hook,
• 24130, drl, XTO, FBIR Walterpackswolf 31X-12GF, Heart Butte, 

Bringing This Story Forward; Posted It Early; Maybe Missed By Some -- US Shale Boom Will Send "Shockwaves" Through Global Oil Trade

The US shale boom will send "shockwaves" through the global oil trade over the next five years. Bloomberg is reporting:

The U.S. shale boom will send “shockwaves” through the global oil trade over the next five years, benefiting the nation’s refiners and displacing OPEC as the driver of supply growth, the IEA said.

North America will provide 40 percent of new supplies to 2018 through the development of light, tight oil and oil sands, while the contribution from the Organization of Petroleum Exporting Countries will slip to 30 percent, according to the International Energy Agency. The IEA trimmed global fuel demand estimates for the next four years, and predicted that consumption in emerging economies may overtake developed nations this year.

“The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15,” the Paris-based adviser to 28 oil-consuming nations said in its medium-term market report today.

I posted this story along with the recent comments by the Crescent Point CEO. 

Four (4) New Permits -- The Williston Basin, North Dakota, USA; Active Rigs Tie Post-Boom Record

Active rigs: 191. Yesterday we ended the day at 187. First thing this morning, it was 188. A half hour later it was 190. Now, at the end of the day is 191, which is the post-boom high. It's not a new high; we've been here before.

Four (4) new permits --

• Operators: CLR (2), WPX (2)
  Fields: Dutch Henry Butte (Stark), Van Hook (Mountrail)
  Comments:

Wells coming off the confidential list were reported earlier; see sidebar at the right.

One producing well completed:

• 22102, 400, Oasis, Norris 5892 21-30B, North Tioga, t5/13; cum --