I always have to chuckle when I see the Williston Basin as part of the Rocky Mountain play. Whatever.
Anyway, there's an article over on Seeking Alpha about energy opportunities in the Rockies; most of the companies I don't follow, but some of you may be interested.
I was happy to see I am not the only one who cannot keep up with what is happening in the Williston Basin. The author of that article was surprised to see that SM was the new name for St Mary Land and Exploration. That I knew. But I've missed a lot of other changes in the Bakken.
Friday, September 24, 2010
For Investors: Earnings Reports (3Q10) -- Recession? What Recession?
Bakken oil companies will report:
So, which is it? A recession or not a recession? I still maintain that we are in a recession, see recent posts.
However, I have been a bit sarcastic about all the negativity presented by politicians and "talking heads" when it comes to the economy. If one only listened to mainstream media, one would get the impression there is no good news in the private sector. Back in July I posted the earnings reports as they were announced.
This is interesting. On September 30, 2010, on national television (CNBC), Daimler-Benz CEO said the folks that make Mercedes Benz will have the best September in the history of their company, worldwide and in the US.
So, here we go again (I will only be printing the positive news; it's easy to find the negative news elsewhere). Third quarters earnings season doesn't start until next month (right now we're in the "warnings season"), but some companies will report early.
3rd Quarter, 2010, Earnings , Selected
Speaking of "seasons," there are four seasons in Texas: football regular season, play-off and champion season, recruiting season, and training season.
Luxury Sales: back to pre-crisis levels
September auto sales:
GM is owned by the unions and the US govt; worse performance a coincidence? I think not.
- MRO: earnings double;
- WLL: earnings soar; presentation; conference call 11:00 EST on 10/28
- HES: net income more than triples; 10/27 -- conference call
- MDU: earnings down 34% on construction; conference call
- BEXP: Nov 1
- CLR 11/03 ac; conference call 11/04
- DNR, Seeking Alpha; and BEXP on 11/4
- EOG and KOG, 11/4; KOG PDF presentation; EOG PDF presentation
- NOG 11/8 -- conference call at 10:00 CST, same day
- OAS 11/8 earnings announcement, Seeking Alpha; PDF presentation
- COP: earnings doubled
- XOM: earnings up 55%
- CVX: earnings fall 1.6%; conference call
- ERF: presentation;
- ENB: income cut in half due to spills
******
So, which is it? A recession or not a recession? I still maintain that we are in a recession, see recent posts.
However, I have been a bit sarcastic about all the negativity presented by politicians and "talking heads" when it comes to the economy. If one only listened to mainstream media, one would get the impression there is no good news in the private sector. Back in July I posted the earnings reports as they were announced.
This is interesting. On September 30, 2010, on national television (CNBC), Daimler-Benz CEO said the folks that make Mercedes Benz will have the best September in the history of their company, worldwide and in the US.
So, here we go again (I will only be printing the positive news; it's easy to find the negative news elsewhere). Third quarters earnings season doesn't start until next month (right now we're in the "warnings season"), but some companies will report early.
3rd Quarter, 2010, Earnings , Selected
- Nike: earnings $1.45, vs $1.01; blows away expectations
- Walgreens: earnings up 8 percent (their 4th quarter)
- CSX: earnings jump 43%, beating expectations, and well above year-over-year
- INTC: earnings up 59%
- JPM: analysts' expectation -- 88 cents; actual -- $1.10 (who says the banks are in trouble?)
- GOOG: earnings up 32%
- Hasbro, as in toys, earnings up 3%, in a recession?
- Halliburton: earnings double, on natural gas drilling
- Citigroup, a BANK, beats estimates, worst is over?
- Bank of America: earnings, 27 cents; expectations, 16 cents.
- Altria: beats expectations by 2 cents; 54 cents vs 42 cents yoy
- McDonalds: $1.29 vs $1.15 a year ago; beats expectations
- Caterpillar: $1.22 vs $0.64 one year ago; slow economy
- United Airlines: $1.75 this quarter; lost money one year ago; all airlines soaring
- UPS: 3rd quarter earnings soared, up 81% (hey, how's the US Postal Service doing -- still losing money. I check my mailbox once a week; today -- no first class mail; only election advertising, and local grocery market circulars; all junk mail -- all representing last four days of mail
- SanDisk (flash memory): earnings soar, $1.30 vs $1.05 last year; beats expectations
- SLB soars: $1.38 vs $0.65 last quarter. Transcript of earnings call.
- DreamWorks Animation (movies): earnings double
- Norfolk Southern: earnings soar; up 47%
- Visa: earnings up 51% as credit card usage increases
- Shell: earnings up 6% on higher oil prices
- Toyota profit quadruples despite recall
- Dell: earnings double --- Dell? Doubled? What recession?
*****
My Prayer, The Platters
*****
*****
Speaking of "seasons," there are four seasons in Texas: football regular season, play-off and champion season, recruiting season, and training season.
*****
Luxury Sales: back to pre-crisis levels
September auto sales:
GM is owned by the unions and the US govt; worse performance a coincidence? I think not.
Thursday, September 23, 2010
Enerplus Update
Recently I made a comment in passing about all the oil that must be coming out of Fort Berthold Indian Reservation based on reports of two or three more pipelines in the FBIR that have been approved, are in the process of being laid, or have been completed.
Tonight, in passing, I see that "Bakken Shale" updates Enerplus results by noting that ERF has recently completed six wells in the FBIR. Four of the wells were short laterals and two of the wells were long laterals. The short laterals averaged 800 bopd over 30 days, and 650 bopd over 60 days.
The long laterals averaged 1,190 bopd over 30 days, and 1,100 bopd over 60 days.
Yup, I would say that the FBIR is a pretty sweet spot. Enerplus still has six wells on the confidential list (and these might be the same six, most undoubtedly they are), and they are all in T147N-R93W. They are all in McGregory Buttes or Moccasin Creek oil fields, west of the river.
For those who have not invested in ERF before and considering it, you may want to read this article first.
Tonight, in passing, I see that "Bakken Shale" updates Enerplus results by noting that ERF has recently completed six wells in the FBIR. Four of the wells were short laterals and two of the wells were long laterals. The short laterals averaged 800 bopd over 30 days, and 650 bopd over 60 days.
The long laterals averaged 1,190 bopd over 30 days, and 1,100 bopd over 60 days.
Yup, I would say that the FBIR is a pretty sweet spot. Enerplus still has six wells on the confidential list (and these might be the same six, most undoubtedly they are), and they are all in T147N-R93W. They are all in McGregory Buttes or Moccasin Creek oil fields, west of the river.
For those who have not invested in ERF before and considering it, you may want to read this article first.
Dropbox.com
I will be traveling again in a few weeks and will be away for quite some time. While traveling it is hard to maintain the blog. But I do the best I can. Bear with me.
However, I have found a tool that will make it easier: cloud computing.
Yes, cloud computing has been around for quite awhile but I am only starting to use it. By strict definition, this probably isn't even true cloud computing. But I was introduced to "Dropbox.com" and it is awesome. "Dropbox.com" allows me to store data files somewhere out there on "the internets," as one of our former presidents so famously said, and then can access those files wherever I have an internet connection. In addition, it automatically syncs all changes I make.
I have "Dropbox.com" on my Apple desktop computer, and then was reminded that "Dropbox.com" also has an iPad application, for free downloading. It is spectacular. I cannot overstate how crystal clear, how aesthetic, the products are on the iPad. It truly is magical.
The iPad is not good for productivity, but it is awesome for the tools for which it was designed. Anyway, a little plug for which I will receive no compensation. Smile.
[September 24, 2010: I received the following comment regarding this post, but it failed to post, so I will post the comment here, since it is pithy and important: "Ah yes, the Kool Aid. Spectacular. Crystal Clear. Truly Magical. Not good for productivity. A near total failure on the trip to North Dakota. Awesome. Glad to see the moments of lucidity." -- sent in by "anonymous." My reply is in the comments.]
However, I have found a tool that will make it easier: cloud computing.
Yes, cloud computing has been around for quite awhile but I am only starting to use it. By strict definition, this probably isn't even true cloud computing. But I was introduced to "Dropbox.com" and it is awesome. "Dropbox.com" allows me to store data files somewhere out there on "the internets," as one of our former presidents so famously said, and then can access those files wherever I have an internet connection. In addition, it automatically syncs all changes I make.
I have "Dropbox.com" on my Apple desktop computer, and then was reminded that "Dropbox.com" also has an iPad application, for free downloading. It is spectacular. I cannot overstate how crystal clear, how aesthetic, the products are on the iPad. It truly is magical.
The iPad is not good for productivity, but it is awesome for the tools for which it was designed. Anyway, a little plug for which I will receive no compensation. Smile.
[September 24, 2010: I received the following comment regarding this post, but it failed to post, so I will post the comment here, since it is pithy and important: "Ah yes, the Kool Aid. Spectacular. Crystal Clear. Truly Magical. Not good for productivity. A near total failure on the trip to North Dakota. Awesome. Glad to see the moments of lucidity." -- sent in by "anonymous." My reply is in the comments.]
Another Stroh Well in Fayette Field
Anschutz well, file #18423, Raphael Stroh 1-13-24H-143-97, Fayette field, comes off the confidential list today (September 23, 2010). An IP is not provided, but the first report says it produced 245 bbls "the first day." But we have no idea how long the well was flowing that first day -- one hour or 24 hours. Update: see comment below, dated January 3, 2010 -- the IP is said to have been 2,409. Fracked in November, this well has apparently produced about 50,000 bbls of oil; at $50/bbl, that's $2.5 million at the wellhead. At $75/bbl, and at current rate of 500 bbls/day, that works out to about $1 million/month.
Click here to see the background to this story regarding the "Stroh" wells.
Update, October 31, 2010: Great news! Happy Halloween! See comments below. I've been sent an update on the Raphael Stroh well: The broken plug has been extracted from the casing. The fracturing tube has been inserted and is waiting for the fracturing equipment to come on site Tuesday or Wednesday of this week. The well was produced for a short time to clean out the tubing and it was noted the unfractured production rate was 40 bbl per hour or 960 bbl per day.
Update, September 26, 2010: see comments below -- we get the rest of the story for the Raphael Stroh well: "Sept 26, 2010. This well has not been completed yet. A casing plug broke off in the casing as they were going to start the fracturing process. A workover rig needs to be brought in to remove the plug and fracture the formation. The twin well to it on the dual pad going 2 miles north underground had an IP of 2,500 BBL and 1,000,000 cu ft gas per day."
The twin well on that pad would be the Kenneth Stroh well.
Click here to see the background to this story regarding the "Stroh" wells.
Update, October 31, 2010: Great news! Happy Halloween! See comments below. I've been sent an update on the Raphael Stroh well: The broken plug has been extracted from the casing. The fracturing tube has been inserted and is waiting for the fracturing equipment to come on site Tuesday or Wednesday of this week. The well was produced for a short time to clean out the tubing and it was noted the unfractured production rate was 40 bbl per hour or 960 bbl per day.
Update, September 26, 2010: see comments below -- we get the rest of the story for the Raphael Stroh well: "Sept 26, 2010. This well has not been completed yet. A casing plug broke off in the casing as they were going to start the fracturing process. A workover rig needs to be brought in to remove the plug and fracture the formation. The twin well to it on the dual pad going 2 miles north underground had an IP of 2,500 BBL and 1,000,000 cu ft gas per day."
The twin well on that pad would be the Kenneth Stroh well.
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