US Crude Oil Imports From Venezuela Increased Year-Over-Year, January, 2019, Data

See this link.

In thousands of bbls.

Year-over-year, US crude oil imported from Venezuela increased. Just saying. By 20%.

This Should Make Some Iowa Farmers Very, Very Happy -- April 4, 2019

Updates

April 20, 2019: from CNN -- data points --

• China's production has fallen 10% this year (in line with original post in which production was anticipated to drop to 51 million tonnes from 55 million tonnes)
• China normally accounts for 49% of global pork consumption
• apparently in the US, wholesale prices have risen, but retail prices have remained stable (yes, lots of competition in the US at the retail level; and, many alternatives to chicken)
• from the linked article, last year (2018):
• China produced 54.8 million metric tones of pork
• consumed nearly 60 million metric tons
• the delta (consumed/produced) not particularly remarkable

I remain unconvinced that we will see much impact in the US for the average Costco shopper.

Original Post

Quick: what country consumes the most pork? Oh, that's too easy. Let's start with this. On a per capita basis which country consumes the most pork. LOL. If you get the correct answer without looking it up, you either raise hogs or you need to get a life. The answer is here. Per capita, the US is only #8.

This I find most amazing. Think about it. China is #4. That's per capita. And there are a  lot of "per capita" Chinese. Like a billion or so.

So, now back to the original question: what country consumes the most pork? See this Reuters article from 2017.

China still consumes a lot more meat than any other country. People here will eat about 74 million tonnes of pork, beef and poultry this year, around twice as much as the United States, according to U.S. agriculture department estimates. More than half of that is pork and for foreign producers it has been a big growth market, especially for Western-style packaged meats.

China produces a lot of their own pork.

But, just saying ...

Just saying ...

What would happen if "swine flu" were to hit China?

Well, apparently it did. The article was sent to me by a reader -- again, from Reuters -- China's pork imports to double in 2019 as swine fever hits local output. 

I don't know what you think, but I think this is a huge, huge deal.

China’s 2019 pork imports are set to double from last year to 2 million tonnes, a Rabobank analyst said on Thursday, as African swine fever hits production of the meat in the world’s top hog market.  

China has reported 113 outbreaks of the contagious disease since last August, though farmers and industry insiders say several outbreaks are going unreported.

African swine fever, which does not harm humans, has a high mortality rate in pigs and has no vaccine or cure.

Chinese pork production will fall by up to 20 percent in 2019. China typically accounts for around half the world’s output of the meat.

That means local production this year of between 50 million and 51 million tonnes, Tjakra told Reuters on the sidelines of the event, down from last year’s 54 million to 55 million tonnes. 

It appears the headline is a bigger bark than the actual bite -- Chinese production will go from 55 million tonnes to 50 million tonnes (at worse).

Iowa should easily make up the shortfall.

It's a good thing Chinese-Trump trade talks appear to be coming to an end.

Reason #1 Why I Love To Blog -- A Reader Explains MRO's Lower Number Of Stages -- April 4, 2019

Earlier today I asked if anyone was paying attention? I was unable to explain why MRO is consistently fracking with fewer stages (and therefore [?] less sand).

A reader who has provided many insightful and helpful comments over the years sends this explanation.

Regarding MRO's lower stage count ... the March issue from American Oil and Gas Reporter (aogr.com) contains an outstanding piece targeting Oasis' Elkhorn Field in the Bakken for a look into cutting edge fracturing/completion practices. The full link: https://www.aogr.com/magazine/editors-choice/engineered-completions-key-to-economic-development-of-elkhorn-field.

I have read the uber wonky piece twice and will need further reading in attempting to 'get' what is occurring, but - essentially - operators are maintaining 1,500/2,000 psi pressure between the wellbore's 'edge' (entry point into the formation) and the ever-expanding fracture tip. 

This is accomplished by the precise placement and number of entry points (clusters) and employing diverters (temporary plugs) in order to contain the frac (vertically and horizontally) while maintaining a very high pressure.

The effective accomplishment produces a VERY rubbilized (sic) formation within a tightly constrained area.  This essentially is what Mark Papa has always sought.

Liberty Resources is a leading innovator in this regard and has some papers online discussing this approach.

Incredibly the full article is accessible without hitting a paywall. To be safe, I've archived it.

The buzz-phrase in the last six months has been the "problem" with "parent-child" interference. This article also addresses that issue.

This is an incredibly important article for those trying to better understand the Bakken.

A huge "thank you" to the reader for sending this. It truly made my day. Best article all day. All week? Maybe.

I believe Mark Papa (former CEO of EOG) is now CEO of Centennial Resource Development:

Centennial Resource Development, Inc., an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States.

The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico. As of December 31, 2018, it leased or acquired approximately 80,223 net acres; and owned 1,597 net mineral acres in the Delaware Basin. The company was formerly known as Silver Run Acquisition Corporation and changed its name to Centennial Resource Development, Inc. in October 2016.

From Bloomberg:

Mr. Mark G. Papa has been the Chief Executive Officer at Centennial Resource Development, Inc., (Formerly, Silver Run Acquisition Corporation) since November 2015 and has been its Chairman since October 12, 2016. 

Story Of The Week For Williston's Friends Of The Furry And Feathered -- April 4, 2019

I remember blogging about this years ago, when the idea was first floated (back in 2016?). Now, up and running.

Link here.

The facility is named after one of my dad's closest friends. My dad talked about Buck a lot and what an incredibly good man he was. I don't think my dad met Buck until they both were well late into life.

The Buck Sheele Family Animal Center is located at 6207 First Avenue West across from Spring Lake Park in Williston.

Active Rigs In North Dakota Back To 62; Thirteen New Permits; RimRock With Permits For An 8-Well Pad -- April 4, 2019

Active rigs:

$62.14	4/4/2019	04/04/2018	04/04/2017	04/04/2016	04/04/2015
Active Rigs	62	56	49	30	94

Thirteen new permits:

• Operators: RimRock (8); Newfield (5)
  Fields: Mandaree (Dunn); South Tobacco Garden (McKenzie)
• Comments: 
• RimRock has permits for an 8-well Two Shields Butte/Skunk Creek pad in section 24-149-93 in Mandaree oil field
• Newfield has permits for a 5-well Schneiderman pad in section 20-150-99 in South Tobacco Garden; 

Three permits renewed:

• NP Resources: three Gracie State permits, Billings County.