Saturday, March 1, 2014

New Belle Fourche (South Dakota) Industrial Park Ramping Up to Serve Montana, North Dakota, Wyoming

The Rapid City Journal is reporting:
A Rapid City man has been hired to manage the Permian Tank manufacturing plant in Belle Fourche, the anchor and first company to build in the city's new Industrial park.

Permian makes steel tanks and other steel equipment for the oil industry.
The new Belle Fourche facility will serve growing petroleum exploration markets in Wyoming, North Dakota and Montana.
Permian is headquartered in Odessa, Texas, and has been fabricating steel equipment for the petroleum industry since 1976. It has steel and fiberglass tank operations in Texas and Oklahoma and has its own fleet of trucks.
The company is the first to commit to the new Industrial Rail Park, which is the result of a $4.5 million city investment.
See linked article for more details, including number of employees.

Week 9: February 23, 2014 -- March 1, 2014

Operations
Another staggering EOG well -- 54 stages; 17 million pounds; 216,000 bbls in less than 5 months
How cold was the Bakken this winter? The diesel fuel froze
One humdinger of a winter
Sporadic production by a Bakken well
Random update of the Parshall
Random look at the Pyramid pad northwest of Williston

The Heath
A Tyler well is reported  

CBR
Volatility of Bakken crude oil
New railport being considered at Beach, North Dakota
Bakken CBR terminals closing? Just a rumor
Bakken oil rolling through New York state
Increasing amounts of Bakken crude reaching California

Economy
$16 million downtown Williston project given go-ahead

Miscelleneous
Ukraine is good for North Dakota wheat, corn farmers
The interesting Bakken road between Watford City and Alexander
Random data points regarding the Bakken -- NDIC's Lynn Helms

I-98
The series is on hiatus due to investigation

Warren Buffett Posts Record Profit In 2013

Yahoo!Finance is reporting:
Warren Buffett's conglomerate Berkshire Hathaway posted a record profit in 2013, jumping 31 percent over the previous year, the company said in its annual report, released on Saturday.
Profit for the full year rose to $19.5 billion from $14.8 billion in 2012.
Net income rose to $4.99 billion in the fourth quarter, or $3,035 per Class A share, from $4.55 billion, or $2,757 per share, a year earlier.
Quarterly operating profit advanced to $3.78 billion, or $2,297 per share, from $2.81 billion, or $1,704 per share in the year-earlier quarter.
Analysts on average expected Berkshire to report operating earnings per share of $2,203.91, according to Thomson Reuters I/B/E/S.

Saturday Morning: Warren Buffett's Annual Letter Released

How the Ukraine affects North Dakota farmers: wheat and corn prices surge. Also, a bit more here, but the same link.

Active rigs:


3/1/201403/01/201303/01/201203/01/201103/01/2010
Active Rigs19218320416896


The Wall Street Journal

Almost a half-billion dollars worth of bitcoins disappear.

That 2014 growth breakout? Not looking likely. Revised 4Q13 GDP shockingly low: was 3.2%; revised, 2.4%. Weather? ObamaCare uncertainty? Global economy slowdown?

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Approach of a mosquito-borne virus has the US on alert.
Public-health officials in the U.S. are girding for the arrival of a debilitating mosquito-borne virus that is sweeping the Caribbean and could soon break out across large parts of the Americas.
There is only one virus I can think of that they might be talking about. Dengue. Nope, I was wrong: chikungunya.
The virus is transmitted rapidly by mosquitoes to humans and vice versa. There is currently no vaccine or cure. Besides fever and joint aches, it also causes headaches, nausea and rashes. It is rarely fatal but "people that get chikungunya probably wish they would die" because it is so painful, said Robert Novak, global-health professor at the University of South Florida in Tampa.
Experts are concerned because the chikungunya strain in the Caribbean is being spread by a type of mosquito, Aedes aegypti, that is common from the southern U.S. to northern South America, they said. Someone infected in the Caribbean who returns could transmit the disease to local mosquitoes and humans, Dr. Staples said.
Because of widespread use of air conditioning and mosquito-control practices in the U.S., the disease may be limited to local outbreaks, "but it's pretty damn certain what's going to happen in the rest of the Western Hemisphere," said Durland Fish, professor of epidemiology at Yale University's School of Public Health.
Mr. Fish predicted widespread epidemics that will overwhelm medical services, as people seek treatment for acute symptoms.
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Blockbuster year expected for Buffett's Berkshire. There weren't a lot of disasters that would affect his re-insurance portfolio, and energy was huge. Let's see what The WSJ says:
Berkshire Hathaway Inc.'s earnings should reflect an improving economy, a soaring stock market and the lack of a major catastrophe that could have put a dent in the conglomerate's insurance profits.
The report is due out this morning.
Analysts polled by Thomson Reuters expect Berkshire to post, on average, annual revenue of about $180 billion, up roughly 11% from 2012. The Omaha, NE-based company is projected to report net profit of about $18.5 billion [actual = $19.5], up from $14.8 billion in 2012.
[Later: the report has been posted.]

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US pilot shortage caused severe. 

Deal reached on Panama Canal widening project.

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The Los Angeles Times

Going around Congress: Obama's escape hatch. Great news. Nice to know. Huge implications. The framers of the US Constitution were brilliant.

Ukraine Vs North Dakota

The Wall Street Journal is reporting:
Wheat prices rose 2.9%, the biggest gain in three weeks, amid concerns that unrest in Ukraine will slow grain exports from the country and that cold weather will hurt U.S. output.
Corn prices also climbed Friday, reaching a fresh five-month high.
Grain traders speculated that Ukraine's shipments of wheat and corn could decline amid mounting tensions between the country and Russia, which could boost overseas demand for U.S. crops.
So far, the unrest has yet to directly affect exports from Ukraine, which is expected by the U.S. Agriculture Department to be the fifth-biggest exporter of wheat and the third-largest shipper of corn in the current marketing year.
"This unrest could disrupt the ports and shipments, and if that would be the case, the U.S. could see a substantial amount of demand," said Ted Seifried, chief market strategist at brokerage Zaner Group in Chicago.
"At this point, the U.S. and [Ukraine] are the two most competitive countries as far as wheat and corn are concerned. It would be a really big deal" if Ukraine's exports fell.
Several story lines there: the biggest -- I did not realize the Ukraine was fifth in wheat, and third in corn. Second story line: when I think wheat, I think North Dakota. When I think corn, I think Iowa but North Dakota, also, has huge corn industry.