Venezuela Offers To Sell Refinery Assets To China, Russia -- The Energy And Market Page, Page 3, T+284 -- November 1, 2017

Venezuela offers refinery assets to China, Russia -- ArgusMedia:

Venezuela´s financially struggling state-owned oil company PdV is offering to transfer control of its largest domestic refining complex to oil companies from Russia and China, the Opec country´s largest state creditors.

The joint venture proposal centers on PdV´s 940,000 b/d CRP complex, once one of the world´s largest and most modern refinery systems. The CRP, located on the Paraguaná Peninsula, consists of the 635,000 b/d Amuay refinery and the 305,000 b/d Cardón refinery, which together are currently processing a third of their combined nameplate capacity, according to a week-old PdV internal report seen by Argus.

Amuay throughput is about 200,000 b/d or 31.4pc of its design capacity, and Cardón is running 110,000 b/d or 36pc of nameplate capacity, the report shows. Faced with dwindling cash flow and mounting arrears on its dollar-denominated debt, PdV appears to be trying to mortgage assets to stay afloat.

How the iPhone X could steal Christmas: story at WSJ. The writer(s) suggest that local retail, brick-and-mortar could have a bad, bad Christmas for three reasons:

• Apple's iPhone X
• higher gasoline prices
• Amazon

It should be noted that:

• iPhone X: for those with money; upper middle class; the rich
• higher gasoline prices: lower middle class
• Amazon: lower and upper middle class

Amazon will do just fine. Apple will do just fine.

Too Big To Fail? NOG Announces New $400 Million First Lient Credit Facility -- November 1, 2017

From a company press release:

Northern Oil and Gas, Inc. (NYSE American: NOG) today announced it has closed an agreement with TPG Sixth Street Partners for a new $400 million first lien credit facility.  

At the closing, an initial amount of $300 million was funded - an additional $100 million of delayed draw term loans are available to the Company, subject to the satisfaction of customary conditions.  The new credit facility matures in five years and carries a floating interest rate of LIBOR, plus 7.75%.

The Company used approximately $161 million of the initial proceeds to repay and retire its bank credit facility led by Royal Bank of Canada, which was scheduled to mature in September 2018.  

Excess proceeds under the initial draw and additional availability under the new credit facility may be used for general corporate purposes, including, but not limited to, development of the Company's assets in the Williston Basin, future accretive acquisitions, and potential purchases of the Company's outstanding unsecured senior notes and common shares.

Not Much New In Daily Activity Report -- November 1, 2017

Active rigs:

$54.23→	11/1/2017	11/01/2016	11/01/2015	11/01/2014	11/01/2013
Active Rigs	53	34	70	193	180

One new permit:

• Operator: Kraken Operating
  Field: Lone Tree Lake (Williams)
• Commentator:

Four SM Energy wells transferred to Kraken Operating:

• four Redfield wells in Williams County (permits number 19133, 19787, 21781, and 23142)

Blogging Is Significantly Delayed! -- Please Bear With Me -- November 1, 2017

Those with a paid subscription will have their subscriptions extended for one month because of my delay in blogging. Just too much stuff happening too fast. Comments will be delayed. But I'm here and will gradually catch up.

Oh-Oh. More Than Just A Miss On Earnings -- Look At The Huge Drop-Off In Model S/X Sales -- November 1, 2017

This page will not be updated; Tesla Model 3 ramp-up is tracked elsewhere. 

Tesla ramp-up for Model 3 is tracked here.

EV numbers for October, 2017. It will take a few days for all makes/models to be reported, but as it stands now: