Oil Conference In Bismarck Attracts Private Jets

KXNews is reporting:

Oil executives from all over the country are flying in for the 22nd Annual Williston Basin Petroleum Conference.

The petroleum conference is off to a flying start as Executive Air welcomes around 40 private jets filled with oil tycoons.

"We've invited some of the new aircraft manufacturers in the country to bring new aircraft that are here on display behind me and so we're just excited to have everybody come and see Bismarck," says Vetter.

One oil industry salesman is here to show off this King Air 250. This aircraft is used to fly executives to and from the oil fields.

"The 250 is just a really popular airplane up in the upper midwest with its performance, paved unpaved surfaces, payload, speed and just reliability," says Patrick O'Connell, Regional Sales Director, Beechcraft Corporation.

O'Connell flew his jet in from Idaho Falls and says it's his first time in Bismarck.

He says he's looking forward to networking and seeing what the demand is for this type of aircraft in the region.

More at the link. Maybe a few will fly over to Williston while they are in the area. 

I'm hoping the 25th Annual Williston Basin Oil Conference is held in Williston.

Link To North Dakota Petroleum Council Flaring Task Force: Gas Capture Plan

Link to PDF here: http://www.legis.nd.gov/files/committees/63-2013nma/appendices/15_5071_03000appendixb.pdf?20140520183602

It could take a minute or so to download.

A big "thank you" to Don for the link.

KXNews reports the story:

A University of North Dakota researcher says that about 270 oil wells are responsible for 60 percent of all the natural gas flaring in the state.

Chad Wocken is a senior research manager at UND's Energy and Environmental Research Center.

Wocken says there is no "silver bullet" to cut the amount of natural gas that oil drilling companies are burning and wasting instead of capturing. He says the center is exploring the efficiency of different methods to capture gas in remote sites.

CBR Study: Bakken Crude Oil Tends Not To Explode If Trains Stay On The Track

FueFix is reporting:

Oil industry representatives are pushing back against tougher rules for rail cars carrying crude despite a string of fiery accidents and insisting that oil shipped by train from the Northern Plains is no more dangerous than some other cargoes.

An industry-funded report released Tuesday said the volatility of Bakken oil from North Dakota and Montana is comparable to other light crudes.

But the report offers further evidence that Bakken crude is more volatile than heavier oils such as from Canada’s tar sands, following similar studies by Canadian regulators and refiners. The results show Bakken oil is similar to light crudes produced elsewhere in the United States, with characteristics that fall well within the margin of safety for the current tank car fleet, industry representatives said.

Kari Cutting, vice president of the North Dakota Petroleum Council, said it proves federal rules “are sufficient.”

A former senior federal railway safety official disagreed and said recent accidents are enough to justify government intervention.

“We already have examples of this particular crude going ‘boom,’” said Grady Cothen, former deputy associate administrator for safety at the Federal Railroad Administration. “That’s how it has to be treated from a regulatory standpoint despite the distinctions being made” by oil companies.

Oil trains in the U.S. and Canada were involved in at least eight major accidents during the last year, including an explosion in Lac-Megantic, Quebec that killed 47. Other trains carrying Bakken crude have since derailed and caught fire in Alabama, North Dakota, New Brunswick and Virginia.

Regulators in response have discouraged shippers from using older tank cars known to rupture during accidents.

Eight major accidents? Please. Only three involving Bakken crude oil: 1) because the engineer did not set the brakes properly (Canada); 2) washed out railbed due to heavy rains (Virginia); 3) derailment (when crude oil train hit a train that had just derailed). 

I also track these stories at this link.

Futures Don't Mean Squat....I Suppose ...

.. but I'm really impressed with the "staying" power of the price of oil. Right now, futures after hours (a dynamic link; will likely be different over time), show WTI up another 0.59% or about 14 cents, again remaining solidly above $102/bbl as we get closer to peak driving season.

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A Note to the Granddaughters

We keep a huge dry erase board in the living room of the apartment to work on projects, do math, study the periodic table, draw pictures, doodle, whatever.

The other night I walked into the house and this is what I saw on the board:

The handwriting was that of our 10-year-old granddaughter. She reads a lot about global warming. I assume she was listing the causes of global warming. LOL. I never asked her about this. We talk about a lot of things, but I'm sure she already has her world view on global warming and I don't want to influence her in some areas. She needs to come to her own conclusions based on her own reading and thinking. She'll do fine.

The Number Of Active Rigs Continues To Decrease In North Dakota

Wells coming off the confidential list Wednesday:

• 25599, DRY, KOG, P Scanlan 153-98-16-9-11-16H, Truax, no production data,
• 25780, 456, Fidelity, CGB 30-31H, Stanley, t12/13; cum 8K 3/14;
• 25781, A, Fidelity, Garfield 30-31H, Stanley, Three Forks, 60 stages; 3.9 million lbs; no test date, no IP, producing,
• 25942, conf, Whiting, Johnson 34-33-2H, Pleasant Hill, a nice well,
• 26445, drl, CLR, Vachal 4-27H, Alkali Creek,
• 26570, 258, KOG, Wildrose 159-98-15-10-3-3H3, Big Stone, t2/14; cum 3K 3/14;
• 26915, drl, Samson Resources, Bel Air 2314-8H, Ambrose, no production yet,

NOTE on KOG's DRY well, from the well file, a sundry form: "[We] did not get a good cement job on surface and we are not able to circulate below the Fox Hills water table. Moving forward we plan to pump 160' of cement covering the interval 1740' - 1900' to cover perfs (1899').

NOTE on Fidelity's Garfield well, from the well file: 60 stages; 3.9 million lbs; no test date or IP as of date of original post.

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Active rigs:

	5/20/2014	05/20/2013	05/20/2012	05/20/2011	05/20/2010
Active Rigs	188	189	209	178	112

Eight (8) new permits --

• Operators: MRO (4), Triangle Petroleum (2), OXY USA (2)
  Fields: Chimney Butte (Dunn), Elk (McKenzie), Murphy Creek (Dunn)
  Comments:

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