Saturday, November 13, 2010
More Housing For Williston
$7.3 million, 8-building complex with 51 units, ranging from one-bedroom to three-bedroom apartments.
This is a pretty big deal for Williston.
If they hire a Chinese contractor, they can have this complex up and occupied by Thanksgiving.
This is a pretty big deal for Williston.
If they hire a Chinese contractor, they can have this complex up and occupied by Thanksgiving.
Friday, November 12, 2010
Director's Cut Dated November 12, 2010 -- North Dakota, USA
The NDIC Director has just published his most recent Director's Cut.
Highlights for archival purposes:
Producing Wells:
Average Price Sweet Crude
There are three additional pipeline and rail projects in the review or engineering stages; two that have begun construction; and, one that has extended their open season (taking bids to transport oil).
The delta between North Dakota Sweet (posted) and West Texas Intermediate (posted) has increased slightly, to just over 10 percent.
Despite all the new pipeline laid, natural gas production continues to outstrip infrastructure, and flaring (which I -- this blog's author -- believe is highest in the nation) is still well above normal.
Highlights for archival purposes:
Producing Wells:
- September: 5,197 (all-time high)
- August: 5,115
- September: 341,384 bbls (all-time high) (3.8% increase from previous month)
- August: 328,873
- If "we" were to continue at 4% increase month-over-month, one year from now, North Dakota would produce 546,567 bbls/month in that 12th month from now
- September: $67.95
- August: $69.07
- November 12, 2010: $79.25
- All-time high: $136.29, July 3, 2008)
There are three additional pipeline and rail projects in the review or engineering stages; two that have begun construction; and, one that has extended their open season (taking bids to transport oil).
The delta between North Dakota Sweet (posted) and West Texas Intermediate (posted) has increased slightly, to just over 10 percent.
Despite all the new pipeline laid, natural gas production continues to outstrip infrastructure, and flaring (which I -- this blog's author -- believe is highest in the nation) is still well above normal.
New Record: 158
After I missed the "record" of 157 active rigs -- someone else alerted me to it -- I have been checking twice a day to see if "we" would hit 158.
And it appears I missed that record! Someone just alerted me -- Friday night, November 12, 2010 -- the Director's Cut (NDIC/Director) which was just published today.
The Director mentions that the record of 158 was hit on November 11, 2010, but that today (November 12, 2010) the number of active rigs had fallen back to 156. Talk about ephemeral.
In a separate post, I will hit the high points of the latest Director's Cut, for archival purposes.
Anyway, "we" have a new record: 158 active rigs in North Dakota.
By the way, that makes sense: BEXP's seventh rig was missing in the "old record" of 157. I haven't yet had a chance to check out to see if I can find the 158th rig.
And it appears I missed that record! Someone just alerted me -- Friday night, November 12, 2010 -- the Director's Cut (NDIC/Director) which was just published today.
The Director mentions that the record of 158 was hit on November 11, 2010, but that today (November 12, 2010) the number of active rigs had fallen back to 156. Talk about ephemeral.
In a separate post, I will hit the high points of the latest Director's Cut, for archival purposes.
Anyway, "we" have a new record: 158 active rigs in North Dakota.
By the way, that makes sense: BEXP's seventh rig was missing in the "old record" of 157. I haven't yet had a chance to check out to see if I can find the 158th rig.
Oil and Natural Gas Production
This is an incredible graph, presented at the 2010 World Energy Outlook.
This graph represents only two fossil fuels, oil and natural gas. The bottom three shaded areas all concern various aspects of oil production: a) currently producing oilfields; b) development of known oil fields; and, c) development of oil fields yet to be discovered. Even with all three oil entities, total oil production levels off in the out years. The moratorium in the Gulf of Mexico affects both current production and development of new fields.
The Chesapeake Corporation has stated there are no more large oil (or gas) fields to be discovered in North America.
This is another fascinating graph depicting likely crude oil production over the next five years (within my investing lifetime).
On another note, just how reliable / credible is the statement often made by the Saudis? Read the author's four propositions for interpreting this graph.
This graph represents only two fossil fuels, oil and natural gas. The bottom three shaded areas all concern various aspects of oil production: a) currently producing oilfields; b) development of known oil fields; and, c) development of oil fields yet to be discovered. Even with all three oil entities, total oil production levels off in the out years. The moratorium in the Gulf of Mexico affects both current production and development of new fields.
The Chesapeake Corporation has stated there are no more large oil (or gas) fields to be discovered in North America.
This is another fascinating graph depicting likely crude oil production over the next five years (within my investing lifetime).
On another note, just how reliable / credible is the statement often made by the Saudis? Read the author's four propositions for interpreting this graph.
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