The announcement that Menard's is coming to Williston is a huge story. Links here and here.
It is due to open in 2012, but the big question on everyone's mind is where will they get the employees; they plan to hire 130 workers. Actually, I think Menard's has less to worry about than the other retailers in Williston with regard to employees. Something tells me Menard's will offer a very competitive hourly pay/salary with benefits program.
I can think of a number of solutions with regard to the employee problem in Williston but I've learned that my comments and 75 cents will buy you a cup of coffee, so I will spare you my thoughts on that subject. I'm sure Menard's is going to work that issue very hard.
Menard's will be a 200,000 square foot facility. It will be adjacent to a new retail location which could end up being as big as 200 acres. Phase One of this retail operation will be 100 acres, and adjacent to Menard's.
It will be located west of Williston, on the north side of the bypass. I think I know who owned that land when I was growing up in Williston. I always thought that area would eventually be developed. In a way, it's too bad. I used to explore that area when I was a teenager.
Coming west from Montana towards Williston, when it is completed, you will see Menard's on your left, just before you make a decision to drift right into Williston toward the south end of town, along the Burlington Northern tracks, or continue to your left on the bypass around Williston. I remember all the controversy when the bypass was put in. Folks were worried that tourists/travelers would truly bypass Williston. That would be hard to imagine when Williston was the only stop for more than a hundred miles in any direction.
The biggest takeaway with regard to Menard's coming to Williston: this should suggest to most folks that there are some who think the oil industry is here to stay this time for quite awhile.
Tuesday, April 12, 2011
GMX Resources Announces Record Earnings: Just the Beginning
GMX Resources announces record earnings for 1Q11. This is going to be a huge quarter for energy industry.
GMX Resources made news recently when it entered the Bakken, but it has a very small footprint and one wonders exactly what it plans in the Bakken.
From the press release:
Some of the Bakken-only energy companies may miss production targets in 1Q11 due to the weather. Almost 700 wells were shut in for much of January. The high price of oil in March may make up for the losses in January, resulting in a wash for the Bakken-only energy companies.
Earnings of all Bakken-related companies are aggregated at "Earnings Central."
GMX Resources made news recently when it entered the Bakken, but it has a very small footprint and one wonders exactly what it plans in the Bakken.
From the press release:
The Company has achieved total production of 6.0 Bcfe for the first quarter 2011 which is a Company record and an achievement of the previously announced guidance. The 6.0 Bcfe of production in the first quarter represents a 14% increase over the fourth quarter of 2010 and a 89% increase over the first quarter of 2010.GMX Resources is predominantly a natural gas exploration and production company but has recently changed its profile to highlight its involvement in two oily shale plays: the North Dakota Bakkken and the Niobrara in D-J.
The Company's second quarter and full year 2011 guidance is 6.1 Bcfe with an expected range of 25.0-26.0 Bcfe, respectively, which represents an increase of 42% and 43%-49% in the second quarter and full year 2010.
Some of the Bakken-only energy companies may miss production targets in 1Q11 due to the weather. Almost 700 wells were shut in for much of January. The high price of oil in March may make up for the losses in January, resulting in a wash for the Bakken-only energy companies.
Earnings of all Bakken-related companies are aggregated at "Earnings Central."
Japanese Nuclear Disaster Now Raised to Highest Alert Level: 7/7
For all updates, click here.
Remember, our Secretary of Energy, Stephen Chu, a nuclear physicist, said his worst nightmare was coal.
It's interesting to read the "spin" regarding nuclear energy. In this article, the expert says that the reaction to the disaster in Japan "may mark a high point in anti-nuclear hysteria." He goes on to say that “the average coal plant releases 100 times more annual radiation than a comparable nuclear plant.”
Unless, of course, the nuclear plant releases all that radiation at once, as in a nuclear meltdown.
Remember, our Secretary of Energy, Stephen Chu, a nuclear physicist, said his worst nightmare was coal.
It's interesting to read the "spin" regarding nuclear energy. In this article, the expert says that the reaction to the disaster in Japan "may mark a high point in anti-nuclear hysteria." He goes on to say that “the average coal plant releases 100 times more annual radiation than a comparable nuclear plant.”
Unless, of course, the nuclear plant releases all that radiation at once, as in a nuclear meltdown.
Downs goes on to cite the rarity of these kinds of events in the 60-year history of the commercial nuclear energy, especially ones that cause civilian casualties.
“Although there may very well be deaths associated with the Japanese meltdown in the months and years to come, the only reactor incident to cause civilian deaths to date was Chernobyl, a poorly run facility in the bankrupt late-Soviet Union (amazingly built with no containment vessel),” said Downs.
"The rarity of these kinds of events..." well, that's reassuring. Of course, if nuclear plant disasters weren't rare, the disaster in Japan would not be a front page story either.
Unit Corporation: To Add Rigs in North Dakota -- Bakken, North Dakota, USA
I am not sure if I understand Unit Corporation's corporate presentation and other information at its website but it sounds like the company plans to bring in 2 or 3 of its rigs to operate its holdings (12,750 net acres) in the Bakken.
Unit Corporation is the fifth largest deep onshore driller. It is a contract driller, as well as having its own production, if I understand the presentation correctly. Its market cap is $3 billion.
Unit Corporation is the fifth largest deep onshore driller. It is a contract driller, as well as having its own production, if I understand the presentation correctly. Its market cap is $3 billion.
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