Maybe Someone Else Wants To Do The Math ....

Rigzone is reporting:

Vanguard Natural Resources, LLC  has entered into a definitive agreement to acquire natural gas and oil properties in the Pinedale and Jonah fields of Southwestern Wyoming for a purchase price of $581 million from an unnamed source. The properties being sold consist of approximately 87,000 gross acres (14,000 net acres) that are currently producing approximately 113.4 million cubic feet equivalent per day (MMcfe/d) with approximately 80 percent being natural gas, percent oil and 16 percent natural gas liquids. The effective date of the acquisition is Oct. 1, and the Company anticipates closing this acquisition on or before Jan. 31, 2014. 

$581 million / 14,000 net acres = $41,500/acre.

Also, at the press release:
Approximately 2,000 producing wells and over 970 proved undeveloped drilling locations; there are approximately 5,200 additional locations not booked at this time due to the current expectation that they will not be drilled within a five year period as required by the SEC for recording proved reserves.

2,000 + 970 + 5,200 = 8,170 / 14,000 net acres = 8,170 drilling locations / 14,000 net acres. 

Drones Over Dakota

More stories on the drones here. 

Bloomberg/Politics is reporting:

The U.S. approved drone test centers in six states, including North Dakota, as the start of research efforts to eventually allow civilian unmanned aircraft widespread access to the nation’s airways.

The Federal Aviation Administration, after sifting through 25 applicants, also approved bids from Alaska, Nevada, New York, Texas and Virginia, it said in an e-mailed statement.

This was actually reported more than a year ago, back in July, 2012 -- either something new, or Bloomberg just getting around to this story. Other than reading the headline and the first one or two paragraphs I didn't spend any more time on the story. I assume that between the NSA and Amazon.com the wild blue yonder will soon be filled with drones: some with spy cameras, some with packages.

Memo To Self: Mail One Less Letter Every Two Months For The Next Two Years; "Warmists" Bailing

I use about ten (10) first-class stamps/month.

x 12 months = 120 stamps

x 2 years = 240 stamps

x 46 cents for one "forever" stamp = $110.40

With the "temporary" increase to 49 cents for a first class stamp effective January 26, 240 stamps would cost = $117.60.

Decisions, decisions.

But how gullible does Congress think Americans are? This is being "sold" as a temporary measure.

Back to the arithmetic.  

$117.60 - $110.40 = $7.20.

$7.20 / $0.49 = 15 first-class stamps (15 letters)

So, the easiest thing to do is maintain my $110.40 postage stamp budget for the next two years, and mail 15 less letters over the course of the next two years.

Christmas cards? Nope, Christmas postcards.

That was easy.

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Global Warming

I can't make this stuff up. A bunch of "warmist" scientists set sail this summer to study the effect of global warming on the Antarctic ice sheet. They were expecting the Antarctic ice sheet to have shrunk either in area or in thickness due to global warming. Remember, it's summer in the Antarctic.

It appears their ship was iced in. For the past several weeks, folks smarter than I have been trying to figure out how to rescue these latter-day Gullivers. Ice-breaking ships were unable to reach the stranded "warmists."

The "warmists" have given up. They will be rescued by helicopter.

I can't make this stuff up.  Mail On-Line is reporting.

Three More Very Nice Bakken Wells In Siverston Oil Field

Active rigs: 187

Ten (10) new permits -- 

• Operators: Burlington Resources (3), MRO (3), CLR (2), Hess (2)
• Fields: Banks (McKenzie), Blue Buttes (McKenzie), Chimney Butte (Dunn), Rainbow (Williams)
• Comments:

Wells coming off the confidential list over the weekend, Monday, were posted earlier; see sidebar at the right.

Five (5) producing wells were completed:

• 26465, 2,107, Whiting, S-Bar 13-2H, Sanish, t11/13; cum --
• 26137, 396, Whiting, Moore 14-7-2XH, Sanish, t12/13; cum --
• 24933, 1,908, XTO, Lundin 41X-14C, Siverston, t9/13; cum 20K 10/13;
• 25111, 2,869, XTO, Lundin 41X-14D, Siverston, t10/13; cum --
• 24932, 1,956, XTO, Lundin 41X-14G, Siverston, t9/13; cum 17K 10/13;

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Global Warming

Green Bay sets "global warming" record -- 19 degrees below zero.

Green Bay Press Gazette is reporting:

Green Bay set a new record low of minus 19 Monday morning, according to the National Weather Service in Ashwaubenon. The frigid weather is expected to persist through the day and the early part of the week.

Monday’s low just edged out the previous record, minus 18, set in 1976. A number of other cities also recorded record lows.

Is it just me or are we seeing more cold weather than usual ever since Algore received his Nobel Prize?

How Soaring Propane Exports Affect Domestic Prices

Regular readers know the background to this story. When I get caught up I will include a few more links. For now, enjoy the story sent in by another reader: how soaring propane exports is (are?) affecting prices, as reported by MarketRealist/Yahoo!Finance. 

Excellent article, background, and analysis. If I don't forget I will put in some data points in case the link breaks, but I just got back from being out and about all day and am now catching up.