Producers: Oasis, BEXP, SM, XTO
Fields: Bull Butte, Todd, Heart Butte and West Ambrose
Tuesday, December 21, 2010
EU Seeks Answers On Snow Nightmare -- Not a Bakken Story
That's the headline: EU Seeks Answers For Snow Nightmare
I can't make this stuff up. As expected "they" are blaming the current snowstorm and record cold spell on global warming -- too much water vapor (not CO2 this time). Water vapor is a much bigger component of greenhouse gases than CO2.
The snow nightmare is not unexpected. When governments spend a decade planning for global warming while failing to prepare for a more likely scenario, this is not a surprise. Anyone with a Farmer's Almanac would have known that winter storms would be a bigger issue than global warming. Sort of reminds me of the fable of the ant and the grasshopper.
Just saying.
I can't make this stuff up. As expected "they" are blaming the current snowstorm and record cold spell on global warming -- too much water vapor (not CO2 this time). Water vapor is a much bigger component of greenhouse gases than CO2.
The snow nightmare is not unexpected. When governments spend a decade planning for global warming while failing to prepare for a more likely scenario, this is not a surprise. Anyone with a Farmer's Almanac would have known that winter storms would be a bigger issue than global warming. Sort of reminds me of the fable of the ant and the grasshopper.
Just saying.
For Newbies and Investors: The Record Snow In Bakken Country Will Impact Production Targets -- North Dakota, USA
The fourth quarter production numbers are not going to look good. More on this later, perhaps, but I've opined about it earlier -- within the last day or so.
It's hard to say how these production numbers will affect share price. Share prices are moving up with price of oil and with expectation that proved reserves will continue to increase.
Share prices will move down if investors do not understand the reason for the impact is due to a temporary event.
My hunch: there may be a buying opportunity in January/February for those interested in investing in the Bakken. Just a hunch.
If someone wants to understand how production numbers can throw a wrench in one's investing plans, look at what happened to WHX in the third quarter when production numbers were not met due to closed Enbridge pipeline following a spill. EOG took a shellacking, also, but for different reasons.
I think the oil spill actually helped WHX in the long run; that's a trust and will end when it sells a pre-determined amount of oil. Oil was selling for significantly less this summer when the spill occurred than now. I assume most oil is sold on contract, so it may not have amounted to a hill of beans, or a cup of oil, but just a random thought, while I'm rambling.
It's hard to say how these production numbers will affect share price. Share prices are moving up with price of oil and with expectation that proved reserves will continue to increase.
Share prices will move down if investors do not understand the reason for the impact is due to a temporary event.
My hunch: there may be a buying opportunity in January/February for those interested in investing in the Bakken. Just a hunch.
If someone wants to understand how production numbers can throw a wrench in one's investing plans, look at what happened to WHX in the third quarter when production numbers were not met due to closed Enbridge pipeline following a spill. EOG took a shellacking, also, but for different reasons.
I think the oil spill actually helped WHX in the long run; that's a trust and will end when it sells a pre-determined amount of oil. Oil was selling for significantly less this summer when the spill occurred than now. I assume most oil is sold on contract, so it may not have amounted to a hill of beans, or a cup of oil, but just a random thought, while I'm rambling.
Another One To Watch -- In Renville County
More on this later, but this one is yet another well to watch.
See comments below for update.
I follow Renegade at this page: http://milliondollarway.blogspot.com/2009/10/bakken-other-producers.html.
At some point, Renegade may get its own page. Smile.
- 19472, Renegade, A Trout 6H 3-14
See comments below for update.
I follow Renegade at this page: http://milliondollarway.blogspot.com/2009/10/bakken-other-producers.html.
At some point, Renegade may get its own page. Smile.
Keeping Track of the Lodgepole -- This May Be Something to Watch
This is for my benefit only.
This may be an interesting thread before it's over regarding the Lodgepole.
The Traxell well in 31-146-89.
This may be an interesting thread before it's over regarding the Lodgepole.
The Traxell well in 31-146-89.
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