Daily operations report
Williston temporary bypass on west side: completed! $10 million project and it's a temporary fix. Wow.
Active rigs in North Dakota: 199
Nine (9) new permits, Williston Basin, North Dakota
- Operators: Whiting (4), Crescent Point Energy (2), MRO (2), Zenergy
- Fields: Sandrocks (McKenzie), Little Muddy (Williams), Sanish (Mountrail), Big Bend (Mountrail), Alger (Mountrail).
Crescent Point has a permit for a wildcat in Williams County.
These wells come off confidential list today (weekend plus Monday)
- 19796, drl, CLR, Magnuson 1-19H, Hanson oil field, Williams County, s2/12; cum --
- 21176, drl, Arsenal Energy, Anthony Robert 10-3H, Stanley, s2/12; cum 25K 6/12;
- 21965, drl, BR, Ole Boe 41-14MBH, Haystack Butte, McKenzie County,
- 22263, drl, Crescent Point Energy, CPEUSC McQuarters 14-23-158N-101W, Little Muddy, Williams,
- 18446, drl, Petro-Hunt, Fort Berthold 152-93-18B-19-1H, Four Bears, McKenzie, s2/12;
- 21739, drl, Zavanna, Kepner 9-4 1H, Glass Bluff, McKenzie, s2/12;
- 22005, 3,050, BEXP, Melissa 31-30 1H, East Fork, Williams, t5/12; cum 33K 6/12;
- 22142, 287, CLR, Kostelecky 1-1H, wildcat, Billings, t5/12; cum 15K 6/12;
- 22201, 996, Hess, LK-Dolezal-145-97-0805H-1, Little Knife, Dunn, t5/12; cum 46K 6/12;
- 19678, 2,186, Helis, Moberg 15-18H, Croff (just west of Grail), McKenzie, t5/12; cum 40K 6/12;
- 20041, 606, Whiting, Merilyn Smith 12-7TFH, Sanish, Mountrail, t2/12; cum 30K 6/12;
- 20762, 817, Zenergy, Arnstad 3-10H, Painted Woods, Williams, t5/12; cum 19K 6/12;
- 21075, 450, Whiting, BSMU 1807, Big Stick, Billings, a Madison well; cum 15K 6/12;
- 21092, 436, QEP Energy, MHA 6-05-06H-149-90, Deep Water Creek Bay, McLean, t7/12; cum --
- 21815, drl, BEXP, Richard 8-5 1H, Banks, McKenzie; in the heart of the Bakken; s2/12;
- 21890, 322, Whiting, Pam Locken 21-22TFH, Sanish, Mountrail, s4/12; cum 18K 6/12;
- 22148, drl, BEXP, Albert B. 27-34 1H, Nameless, McKenzie, just west of Alexander; s2/12; cum 32K 6/12;
- 22158, 996, CLR, Kuhn 2-12H, Camp, McKenzie; in the heart of the Bakken; t5/12; cum 49K 6/12;
Producing wells completed:
- 20436, 1,277, BR, Scott 31-36MBH, Murphy Creek, t11/11; cum 23K 6/12;
- 22255, 255, Samson Resources, Longhorn 9-4-158-99H, t6/12; cum 5K 6/1;2
Another man who misses the point
From the Sacramento Bee, of all places.
The president of the Federal Reserve Bank of Minneapolis says the economic activity going on in North Dakota's booming oil patch is different than anywhere else in the country.
Narayana
Kocherlakota's comment came following a tour last week of the area
between Minot and Williston where various companies are drilling for
oil.
The soundbite he left North Dakotans with:
But Kockerlakota tells The Williston Herald ( http://bit.ly/P552DU)
that because the population of western North Dakota is relatively
small, the boom isn't affecting the nation's economy as much as some
people think.
Okay. I'm glad we got that cleared up.
From the
Rapid City Journal, this observation from same individual:
Kockerlakota also noted that western North Dakota's boom will at some
point become a bust. He said people should be prepared for that to
happen at some point by investing what they have now.
Wow, Debbie Downer. He needs to get out and about a bit more. No wonder the banks are afraid to lend money to developers in the Bakken. Maybe he should visit General Motors, Solyndra. I'm not sure what he means by "at some point" and "a bust." If it were only small mom-and-pop companies setting up shop in the Bakken, I would have concerns, but the complexes that Schlumberger, Baker Hughes, Sanjel, Halliburton, et al, have put in suggest they plan to stay for at least 30 years. The pipeline infrastructure and the railroad infrastructure isn't being put in place for a two-year boom. I will tag this to follow up in December, 2030. But yes, if the world quits using oil for transportation, natural gas for electricity production, and plastics, the Bakken will be a bust.
Investors Aren't Missing The Point
Daily links
Read more here: http://www.sacbee.com/2012/08/19/4739152/federal-reserve-bank-officials.html#storylink=cpy
Read more here: http://www.sacbee.com/2012/08/19/4739152/federal-reserve-bank-officials.html#storylink=cpy
Chinese big four banks increase lending; Chines banks lend at behest of the government; a long, long time ago, it was pointed out that with all the single men in China, the country needs to keep them employed; just saying
Price of WTI oil flirting with $98 -- no link; dynamic; my simple thinking -- no difference between "$100 oil" and "$98 oil"
RBN Energy:
future of crude and NGL
A personal note for archival purposes
Earlier today, about 1:40 p.m. local time, we (my wife, our two granddaughters, and I) were driving from San Pedro to Long Beach/Huntington Beach, California.
To get there we need to cross two huge bridges: one over the Port of Los Angeles, and one over the Port of Long Beach (both in San Pedro Harbor).
The
first bridge is the Vincent Thomas bridge. For unknown reasons, the
traffic was backed up. Then we noticed a helicopter flying over the
area, making numerous passes.
At the top of
the bridge was a fire truck; three of the men were standing around; the
fourth had binoculars and was looking at the water beneath the bridge.
The
helicopter continued to circle. The granddaughters and I discussed the
possibilities. It was not a police helicopter (not black and white) and
it was not a rescue helicopter (too small, and no hospital markings),
so most likely a news helicopter.
Of the many possibilities suggested, I made the last suggestion: someone jumped from the bridge. I was being less than serious.
After the top of the bridge, the traffic went back to two lanes and we were our way.
Tonight I see this story:
That hit me like a ton of bricks for any number of reasons. Truly, very, very sad.
For investors only: see disclaimer
I didn't care about the story (BP vs XOM) but I was surprised by this, particularly that in bold:
BP, on the other hand, has been reeling ever since the 2010 rig
explosion heard round the world. The company's ongoing court battles
with Deepwater Horizon partners Transocean and Halliburton have not gone its way. BP paid nearly $1 billion to Transocean this past quarter to settle accident claims, and Transocean and Halliburton have long since been freed from any additional liability. Continued uncertainty over Deepwater Horizon's
long-term impact has kept BP's valuation low, but investors may take
solace from ExxonMobil's highly successful recovery from the Alaskan Valdez disaster.
By the way, I had bought shares in XOM just days or weeks before the
Valdez incident. I have said many, many times, that turned out to be a very good story, from an investor's point of view. It was very, very interesting how that all turned out.
Apple: Most Valuable Company -- Ever
Exceeds Microsoft's value in 1999 when it was a bubble!
