Wednesday, December 19, 2012

Wells Reporting Today, Thursday

Active rigs: 187 (steady, no change from yesterday)

Wells coming off confidential list today (Thursday)
  • 19976, 1,047,  Petro-Hunt, Fort Berthold 148-94-29B-32-1H; Eagle Nest; t9/12; cum 35K 10/12;
  • 21416, drl, CLR, Larson 2-21H, Sauk,
  • 22430, 258, WPX, Paul Peter Coffee 35HC, short lateral; Moccasin Creek, t11/12; cum --;
  • 22616, 748, CLR, Landblom 4-35H, Stoneview, t10/12; cum 18K 10/12;
  • 22952, 469, Hess, GO-Dahl A 156-97-2536H-2, Dollar Joe, t9/12; cum 18K 10/12;
  • 23006, drl, BEXP, Gunderson 15-22 6H, Banks,

Oil Spikes -- Up $1.62

No link. This is dynamic. The number will change over time. But I am "surprised."

Cooling Down the Fears of Climate Change -- Wall Street Journal --- Opinion -- December 19, 2012 -- Absolutely Nothing About the Bakken

This is for my personal archives. This is not meant for my readers. If you came here looking for the Bakken, scroll up, down, or sideways. If you found this site by googling or surfing, you should probably just hit the backspace button and move on. There are much better sites for discussions on global warming. 

Normally my posts or comments about global warming are not posted as stand-alone posts; they are posted and/or linked as part of other stories, other posts. But this particular half-page essay in the Wall Street Journal puts things in perspective, and fits my worldview of the issue.

I referred to it earlier, and posted a link to another excellent essay on global warming, "signed" by 16 scientists.

From the first linked article:
In short: We can now estimate, based on observations, how sensitive the temperature is to carbon dioxide. We do not need to rely heavily on unproven models. Comparing the trend in global temperature over the past 100-150 years with the change in "radiative forcing" (heating or cooling power) from carbon dioxide, aerosols and other sources, minus ocean heat uptake, can now give a good estimate of climate sensitivity.
The conclusion—taking the best observational estimates of the change in decadal-average global temperature between 1871-80 and 2002-11, and of the corresponding changes in forcing and ocean heat uptake—is this: A doubling of CO2 will lead to a warming of 1.6°-1.7°C (2.9°-3.1°F). 
Yes, 2 degrees over the past 150 years.

And then this: 
A cumulative change of less than 2°C by the end of this century will do no net harm. It will actually do net good—that much the IPCC scientists have already agreed upon in the last IPCC report. Rainfall will increase slightly, growing seasons will lengthen, Greenland's ice cap will melt only very slowly, and so on.
Some of the best recent observationally based research also points to climate sensitivity being about 1.6°C for a doubling of CO2. An impressive study published this year by Magne Aldrin of the Norwegian Computing Center and colleagues gives a most-likely estimate of 1.6°C. Michael Ring and Michael Schlesinger of the University of Illinois, using the most trustworthy temperature record, also estimate 1.6°C.
But again, I'm disappointed. Neither article told us what the "correct" or "ideal" temperature for the earth is/was.  Neither article told us who set/sets the thermostat. An intelligent designer? And now man is messing with the thermostat? And neither article mentioned that the #1 greenhouse gas was water vapor, comprising about 95 - 97% of greenhouse gases. CO2 comprises less than 3% and most of that is not -- repeat, not -- anthropogenic.

But they are starting to approach the question a bit differently. Could global warming actually be beneficial? Global warming proponents mentioned from the beginning there would be more precipitation. Growing seasons will be longer.  A northwest passage might allow less expensive ocean transport from Europe to Asia.

Bakken Upgrade, More, May Rally Hess -- Seeking Alpha -- For Investors Only

Another story for investors regarding Hess at SeekingAlpha.com.

Again, the disclaimer: this is not an investment site. Do not make any investment decisions based on what you read at this site.

For Investors Only -- ONEOK Partners -- SeekingAlpha

I posted this "for investors only" because that's the audience the article targets. However, there is quite a bit on the Bakken and the Bakken Crude Oil Express Pipeline.
In what had to be shocking to all but industry insiders, Oneok Partners announced a few weeks back that it would not proceed with the Bakken Crude Express pipeline that would send crude from the Bakken to the oil hub in Cushing, OK. The pipeline was scheduled to begin construction in early 2014 and be completed by mid-2015.
Considering producers had long complained about the lack of takeaway capacity in North Dakota hurting pricing, it was very shocking that the pipeline didn't attract enough commitments.
Ironically, on the way to finalizing contracts, the rails have taken over in North Dakota as the most attractive alternative. Rail lines such as BNSF now have enough capacity to handle the daily production and the ability to ship the product to the coasts where it is needed more. Instead of shipping directly into a disadvantaged hub where oil would again become congested, a large percentage can now be sent to Phillips 66 refineries on the East Coast, thereby skipping the middleman.
By the way, the linked article above links to another SeekingAlpha.com article: Buffett's railroad beats ONEOK's pipeline.